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Results of a 2017 Computer Service, Inc (CSI) survey of a sample of 163 bank executives reveal insights on banking priorities among financial institutions (goo.gl/mniYMM ). As financial institutions begin planning for a new year, of utmost importance is boosting profitability and identifying growth areas. The results show that 55% of bank institutions note customer experience initiatives as an area in which spending is expected to increase. Implementing a customer relationship management (CRM) solution was ranked as the top most important omnichannel strategy to pursue with 41% of institutions digital banking enhancements as the customer experience. Identify potential concerns with coverage, nonresponse, sampling and measurement errors.
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Basic Business Statistics, Student Value Edition
- Each year U.S. News and World Report conducts its "Survey of America's Best Graduate and Professional Schools." and ranks the top 25 business schools, as determined by reputation, student selectivity, placement success, and graduation rate. For each school, three variables were measured: (1) GMAT score for the typical incoming student; (2) student acceptance rate (percentage accepted of all students who applied); and (3) starting salary of the typical graduating student. An academic advisor wants to predict the typical starting salary of a graduate at a top business school using GMAT score of the school as a predictor variable. The results of a simple linear regression of SALARY versus GMAT using the 25 data points are shown below. Is there sufficient evidence to suggest there is a linear relationship between SALARY and GMAT at the 5% level of significance? ----------------------------------------------------------------------------------- a = -92040 b = 228 s = 3213 r2 = .66 r =…arrow_forwardIn 2015, over 30,000 Americans died from opioid overdoses, and the number of inpatient stays and emergency visits to hospitals related to opiods increased dramatically compared to previous years. The National Institutes of Health (NIH) have partnered with the Healthcare Cost and Utilization Project (HCUP) to gather data on opioid-related deaths and hospitalizations. These data include information about inpatient stays, emergency department visits, age, sex, income, and opiod-related use. For a given patient admitted to a hopsital for an opioid-related event, identify which of these events are disjoint. The patient was admitted to a large metropolitan hospital. The patient's duration of stay was one day. The patient stayed at the hospital for over a week. The patient was 34 years old. The patient was female.arrow_forwardIn 2015, over 30,000 Americans died from opioid overdoses, and the number of inpatient stays and emergency visits to hospitals related to opiods increased dramatically compared to previous years. The National Institutes of Health (NIH) have partnered with the Healthcare Cost and Utilization Project (HCUP) to gather data on opioid-related deaths and hospitalizations. These data include information about inpatient stays, emergency department visits, age, sex, income, and opiod-related use. For a given patient admitted to a hopsital for an opioid-related event, identify which of these events are disjoint. The patient stayed at the hospital for over a week. The patient was 62 years old. The patient was male. The patient's duration of stay was one day. The patient was admitted to a large metropolitan hospital.arrow_forward
- Concur Technologies, Inc., is a large expense-management company located in Redmond, Washington. The Wall Street Journal asked Concur to examine the data from 8.3 million expense reports to provide insights regarding business travel expenses. Their analysis of the data showed that New York was the most expensive city, with an average daily hotel room rate of $198 and an average amount spent on entertainment, including group meals and tickets for shows, sports, and other events, of $172. In comparison, the U.S. averages for these two categories were $89 for the room rate and $99 for entertainment. The table in the Excel Online file below shows the average daily hotel room rate and the amount spent on entertainment for a random sample of 9 of the 25 most visited U.S. cities (The Wall Street Journal, August 18, 2011). Construct a spreadsheet to answer the following questions. City Hotel Room Rate ($) Entertainment ($) Boston 145 163 Denver 97 105 Nashville 93 101 New Orleans…arrow_forwardncur Technologies, Inc., is a large expense-management company located inRedmond, Washington. The Wall street Journal asked Concur to examine the datafrom 8.3 million expense reports to provide insights regarding business travelexpenses. Their analysis of the data showed that New York was the most expensivecity, with an average daily hotel room rate of $198 and an average amount spent onentertainment, including group meals and tickets for shows, sports, and other events,of $172. In comparison, the U.S. averages for these two categories were $89 for theroom rate and $99 for entertainment. The following table shows the average dailyhotel room rate and the amount spent on entertainment for a random sample of 9 ofthe 25 most visited U.S. cities (The Wall street Journal, August 18, 2011).CityRoom Rate($)Entertainment($)Boston 148 161Denver 96 105Nashville 91 101New Orleans 110 142Phoenix 90 100San Diego 102 120San Francisco 136 167San Jose 90 140Tampa 82 98a. Develop a scatter diagram for…arrow_forwardAccounting Today identified top accounting firms in 10 geographic regions across the United States. All 10 regions reported growth in a recent year. The Southeast and Gulf Coast regions reported growths of 12.49% and 9.78%, respectively. A characteristic description of the accounting firms in the Southeast and Gulf Coast regions included the number of partners in the firm. The file [Accounting Partners 2] contains the number of partners. Source: Data extracted from Accounting Today, "The 2019 Top Firms and Regional Leaders," available at bit.ly/2XdQVVW. Number of Partners Region Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Southeast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf Coast Gulf…arrow_forward
- ABC Inc., with the province-wide operation for 15 years, is estimated to have about 12.5% the market share. Over the period of the last 12 months, its business activities were trending at high levels. Encouraged with the trend, it launched a marketing campaign to promote its products and services. At the end of the campaign period, the company conducts a survey to assess whether its market share has increased. Based on 650 survey participants the result obtained was 15.8%. What is the associated p-value of the test statistic for testing the company's claim?arrow_forwardIs it possible to predict the annual number of business bankruptcies by the number of firm births (business starts) in the United States? The following data published by the U.S. Small Business Administration, Office of Advocacy, are pairs of the number of business bankruptcies (1,000s) and the number of firm births (10,000s) for a six-year period. Business Bankruptcies (1,000) 34.3 Firm Births (10,000) 58.1 35.0 55.4 38.5 57.0 40.1 58.5 35.5 57.4 37.9 58.0 i) Based on the output given, use these data to develop the equation of the regression model to predict the number of business bankruptcies by the number of firm births. ii) Explain the values of r and r. iii) Predict the number of business bankruptcies if the number of firm births is 54.0 (10,000s). iv) Do the data support the existence of a linear relationship between the number of firm births and the number of business bankruptcies? Test using a = 0.05. OUTPUT Model Summary Std. Error of the Estimate Adusted R Model R R Square…arrow_forwardIf the report underestimated the increase in STEM jobs over the period 2020-2028 by 11%, and overestimated the decrease in manufacturing and production jobs by 26% over the same period, what would be the impact on the actual number of jobs available in total across these sectors? All information is shown in the images.arrow_forward
- A study identified top accounting firms across the United States. The Southeast and Gulf Coast regions reported the highest combined growths. A characteristic description of the accounting firms in the Southeast and Gulf Coast regions included the number of partners in the firm. Below represents the number of partners within various firms of the two regions [Southeast and Gulf Coast]. Southeast 174 Gulf Coast 79Southeast 45 Gulf Coast 106Southeast 29 Gulf Coast 22Southeast 51 Gulf Coast 22Southeast 40 Gulf Coast 38Southeast 10 Gulf Coast 17Southeast 29 Gulf Coast 27Southeast 37 Gulf Coast 21Southeast 32 Gulf Coast 17Southeast 22 Gulf Coast 12Southeast 9 Gulf Coast 9Southeast 30 Gulf Coast 6Southeast 21 Gulf Coast 9…arrow_forwardThe index of leading economic indicators, compiled and published by the U.S. National Bureau of Economic Research, is composed of 12 time series, such as the average work hours of production in manufacturing, manufacturers’ new orders, and money supply. This index and similar indexes are designed to move up or down before the economy begins to move the same way. Thus, an economist has statistical evidence to forecast future trends.You want to construct a leading indicator for Erie County in upstate New York. The index is to be based on 2000 data. Because of the time and work involved, you decide to use only four time series. As an experiment, you select these four series: unemployment in the county, a composite index of county stock prices, the County Price Index, and retail sales. Here are the figures for 2000 and 2018. The weights you assign are unemployment rate 20%, stock prices 40%, County Price Index 25%, and retail sales 15%. (Round your answers to 1 decimal place.) a. Using…arrow_forwardGlobally, numerous people died in road traffic crashes every year. For the betterment of the public at large, ways to alleviate the frequency and severity of traffic crashes have been the primary concerns of many governments. In fact, many traffic crashes can be avoided with the implementation of effective policies and regulations. Assume that a dataset is collected for traffic crash analysis. The dataset contains data of severe traffic crashes between 2015 and 2019 in Australia. The description of the dataset is listed in Table 1. Suggest two (2) additional variables that can be included in traffic crash analysis. Explain the rationale of their inclusion. Table 1. Description of the dataset Field Description Experience The driving experience of the driver (Under 7 years/7- 14 years/Over 14 years) Whether the crash involves fatigue driving (True/False) Whether the crash involves drunk or drug driving (True/False) The type of road where the crash occurs (E.g., Highway, Freeway, etc) The…arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt