Solution Manual for Business Statistics 2nd Edition by Jaggia
Solution Manual for Business Statistics 2nd Edition by Jaggia
Business Statistics 2nd Edition by Jaggia – Solution Manual
Business Statistics 2nd Edition by Jaggia
Business Statistics 2nd Edition
Chapter 1. Statistics and Data
Solutions
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- The population is all iPhone 4 users.
- Sample statistics
- The value 35 is the estimated average age of the population. It is both costly and time consuming (likely impossible) to take a census of all video game players and compute the actual average age.
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- The population is all students enrolled in the accounting class.
- The value 3.29 represents the population parameter since we are not choosing a sample but drawing results from the actual population.
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- The population is all marketing managers.
- No, the average salary is a sample statistic computed from a sample, not the population.
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- The population is all elderly people. The sample consists of 949 elderly people.
- 22% and 17% represent the sample statistics.
| Date | Adj. Close Price |
| Dec 10 | $593.97 |
| Nov 10 | $555.71 |
| Oct 10 | $613.70 |
| Sep 10 | $525.79 |
| Aug 10 | $450.02 |
| Jul 10 | $484.85 |
| Jun 10 | $444.95 |
| May 10 | $485.63 |
| Apr 10 | $525.70 |
| Mar 10 | $567.12 |
| Feb 10 | $526.80 |
| Jan 10 | $529.94 |
Source: Monthly Adj Close Price in 2010 from
Retrieved April 19, 2011.
These numbers represent time series data. The adjusted close price of the stock was rather volatile, with a 12-month high in October and 12-month low in June.
- Note: Individual answers will vary. This is an example of what an answer may look like.
| Accommodation | Monthly Expenses |
| Dorm | $435 |
| Dorm | $480 |
| Rental | $505 |
| Other | $50 |
| Rental | $600 |
| Dorm | $425 |
| Rental | $525 |
| Other | $550 |
| Other | $325 |
| Dorm | $385 |
| Rental | $475 |
| Dorm | $400 |
| Dorm | $485 |
| Rental | $485 |
| Other | $475 |
| Dorm | $425 |
| Rental | $500 |
| Dorm | $375 |
| Rental | $625 |
| Other | $350 |
This data is cross-sectional data because it can be assumed to be taken at the same point in time. The monthly lodging expenses ranges from a low of $50 to a high of $625. The average expense is $443.75.
