Questions from Business Statistics

Q: Your company is trying to estimate the total size of its potential

Your company is trying to estimate the total size of its potential market. A survey has been designed, and data have been collected. A histogram of the data shows a small amount of skewness. Which sum...

Q: Consider the data set in Table 2.6.2,

Consider the data set in Table 2.6.2, which consists of observations on five production facilities (identified by their group ID). a. What is an elementary unit for this data set? b. What kind of data...

Q: Table 2.6.3 consists of sales and income,

Table 2.6.3 consists of sales and income, both in hundred thousands of dollars, for a 6-month period. a. What is an elementary unit for this data set? b. What kind of data set is this: Univariate, biv...

Q: Table2.6.4 is an excerpt from a sales person’s

Table2.6.4 is an excerpt from a sales person’s database of customers. a. What is an elementary unit for this data set? b. What kind of data set is this: Univariate, bivariate, or mul...

Q: In order to figure out how much of the advertising budget to

In order to figure out how much of the advertising budget to spend on various types of media (TV, radio, newspapers, etc.), you are looking at a data set that lists how much each of your competitors s...

Q: Your firm’s sales, listed each quarter for the past 5 years

Your firm’s sales, listed each quarter for the past 5 years, should be helpful for strategic planning. a. Is this data set cross-sectional or time-series? b. Is this univariate, bivariate, or multivar...

Q: What distribution shape is represented by the histogram in Fig. 3

What distribution shape is represented by the histogram in Fig. 3.8.2 of profit margins for consumer products? Fig. 3.8.2:

Q: What distribution shape is represented by the histogram in Fig. 3

What distribution shape is represented by the histogram in Fig. 3.8.3 of volume (in thousands of units) by sales region? Fig. 3.8.3:

Q: What distribution shape is represented by the histogram in Fig. 3

What distribution shape is represented by the histogram in Fig. 3.8.4 of hospital length of stay (in days)? Fig. 3.8.4:

Q: Consider the histogram in Fig. 3.8.5,

Consider the histogram in Fig. 3.8.5, which indicates performance of recent on-site service contracts as a rate of return. a. At the very high end, how many contracts were extreme outliers that earned...