Lind - Basic Statistics for Business & Economics - 8e, solutions manual and test bank 0073521477

Basic Statistics for Business and Economics 8e,  solutions manual and test bank  0073521477

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• Publisher: McGraw-Hill/Irwin; 8 edition (January 18, 2012)
• Language: English
• ISBN-10: 0073521477
• ISBN-13: 978-0073521473

Publication Date: January 18, 2012 | ISBN-10: 0073521477 | ISBN-13: 978-0073521473 | Edition: 8
The 8th edition of Lind/Marchal/Wathen: Basic Statistics for Business and Economics, is a step-by-step approach that enhances student performance, accelerates preparedness and improves motivation for the student taking a business statistics course. The main objective of the text is to provide students majoring in all fields of business administration with an introductory survey of the many applications of descriptive and inferential statistics. The relevant approach taken in this text relates to the college students today as they will receive the information that is important to them in this class as well as their future careers. Understanding the concepts, seeing and doing plenty of examples and exercises, and comprehending the application of statistical methods in business and economics are the focus of this book.
 
 

Chapter 2
Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation
1. Pepsi-Cola has a 25% market share, found by 90/360. (LO 3)
2. Three classes are needed, one for each player. (LO 1)
3. There are four classes: winter, spring, summer, and fall.
The relative frequencies are 0.1, 0.3, 0.4, and 0.2, respectively. (LO 1)
4. (LO 1)

City	Frequency	Relative Frequency
Indianapolis	100	0.05
St. Louis	450	0.225
Chicago	1300	0.65
Milwaukee	150	0.075

5. a. A frequency table.
Color Frequency Relative Frequency
Bright White 130 0.10
Metallic Black 104 0.08
Magnetic lime 325 0.25
Tangerine Orange 455 0.35
Fusion Red 286 0.22
Total 1300 1.00
b.

c.

d. 350,000 orange; 250,000 lime; 220,000 red; 100,000 white, and 80,000 black, found by multiplying relative frequency by 1,000,000 production. (LO 3)
6. Maxwell Heating & Air Conditioning far exceeds the other corporations in sales. Mancell electric & Plumbing and Mizelle Roofing & Sheet Metal are the two corporations with the least amount of fourth quarter sales. (LO 2)

7. therefore 6 classes (LO 4)
8. 2⁵ = 32, 2⁶ = 64 suggests 6 classes. Use interval of 5. (LO 4)
9. 2⁷ = 128, 2⁸ = 256 suggests 8 classes Use interval of 45. (LO 4)
10. a. 2⁵ = 32, 2⁶ = 64 suggests 6 classes.
b. Use interval of 15 and start first class at 40. (LO 4)
11. a. 2⁴ =16 suggests 5 classes
b. Use interval of 1.5
c. 24
d. f Relative frequency
24 up to 25.5 2 0.125
25.5 up to 27 4 0.250
27 up to 28.5 8 0.500
28.5 up to 30 0 0.000
30 up to 31.5 2 0.125
Total 16 1.000
e. The largest concentration is in the 27 up to 28.5 class (8). (LO 5)
12. a. 2⁴ = 16, 2⁵ = 32, suggest 5 classes
b. Use interval of 10.
c. 50
d. f Relative frequency
50 up to 60 4 0.20
60 up to 70 5 0.25
70 up to 80 6 0.30
80 up to 90 2 0.10
90 up to 100 3 0.15
Total 20 1.00
e. The fewest number is about 50, the highest about 100. The greatest concentration is in classes 60 up to 70 and 70 up to 80. (LO 5)

Visits f
13. a. 0 up to 3 9
3 up to 6 21
6 up to 9 13
9 up to 12 4
12 up to 15 3
15 up to 18 1
Total 51
b. The largest group of shoppers (21) shop at BiLo 3, 4 or 5 times during a month period. Some customers visit the store only 1 time during the month, but others shop as many as 15 times.
c. Number of Percent of
Visits Total
0 up to 3 17.65
3 up to 6 41.18
6 up to 9 25.49
9 up to 12 7.84
12 up to 15 5.88
15 up to 18 1.96
Total 100.00 (LO 5)