Basic Business Statistics, Student Value Edition
14th Edition
ISBN: 9780134685113
Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat
Publisher: PEARSON
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Chapter 16, Problem 64PS
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Find a forecasting model for the exchange rate of three currencies and forecast values for 2017 and 2018.
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In 2020, an adult season pass lift ticket for Devil's Head Ski Resort in Merrimac, WI costs $449. If lift ticket prices have grown proportionally to the Consumer Price Index (see table), what would a season pass have cost in the year 2009?
Year
CPI Index
2000
172.2
2003
184.0
2005
195.3
2009
214.5
2012
229.6
2014
236.7
2015
237.0
2016
240.0
2017
245.1
2018
251.1
2019
255.7
2020
259.9
Round your answer to the nearest whole dollar amount.
Cryptocurrencies have rapidly become an important alternative to traditional currencies for many types of transactions. Etherium, one of the most prominent cryptocurrencies, has rapidly appreciated in value. Daily Etherium trading information for the first 332 days of 2021.
It includes the following variables:
Date
Day – Day of the year, used to assess trend over time
Volume (US $) – Daily trading volume
Opening Price (US $) – Opening price for daily trading
Price Change (US $) – Daily change in price from opening to close
1. Determine the sample correlation coefficient, r, between Volume and Price Change. Test the alternative hypothesis that Volume has a linear relationship to Price Change. Specifically, what are the test statistic and the p-value for that test statistic? For α = .05, what do you conclude about the relationship between the variables? (reminder: the T.DIST.2T function requires input of a positive test statistic)
What is the balance point? if the trend continues what will be the population in 2025
Chapter 16 Solutions
Basic Business Statistics, Student Value Edition
Ch. 16 - If you are using exponential smoothing for...Ch. 16 - Consider a nine-year moving average used to smooth...Ch. 16 - You are using exponential smoothing on an annual...Ch. 16 - Prob. 4PSCh. 16 - Prob. 5PSCh. 16 - How have stocks performed in the past? The...Ch. 16 - Prob. 7PSCh. 16 - Prob. 8PSCh. 16 - Prob. 9PSCh. 16 - Prob. 10PS
Ch. 16 - The linear trend forecasting equation for an...Ch. 16 - There has been much publicity about bounces paid...Ch. 16 - Prob. 13PSCh. 16 - Prob. 14PSCh. 16 - Prob. 15PSCh. 16 - The data shown in the following table and stored...Ch. 16 - Prob. 17PSCh. 16 - Prob. 18PSCh. 16 - Prob. 19PSCh. 16 - Prob. 20PSCh. 16 - Prob. 21PSCh. 16 - Prob. 22PSCh. 16 - You are given an annual time series with 40...Ch. 16 - Prob. 24PSCh. 16 - Prob. 25PSCh. 16 - Prob. 26PSCh. 16 - Prob. 27PSCh. 16 - Prob. 28PSCh. 16 - Prob. 29PSCh. 16 - Using the average baseball salary from 200 through...Ch. 16 - Using the yearly amount of solar power generated...Ch. 16 - The following residuals are from a linear trend...Ch. 16 - Prob. 33PSCh. 16 - Prob. 34PSCh. 16 - Prob. 35PSCh. 16 - Prob. 36PSCh. 16 - Prob. 37PSCh. 16 - Prob. 38PSCh. 16 - Prob. 39PSCh. 16 - Prob. 40PSCh. 16 - In forecasting daily time-series data, how many...Ch. 16 - In forecasting a quarterly time series over the...Ch. 16 - Prob. 43PSCh. 16 - Prob. 44PSCh. 16 - Are gasoline prices higher during the height of...Ch. 16 - Prob. 46PSCh. 16 - Prob. 47PSCh. 16 - The file Silver-Q contains the price in London for...Ch. 16 - Prob. 49PSCh. 16 - What is a time series?Ch. 16 - What are the different components of a time-series...Ch. 16 - What is the difference between moving average and...Ch. 16 - Prob. 53PSCh. 16 - How does the least-squares linear trend...Ch. 16 - How does autoregressive modelling differ from the...Ch. 16 - What are the different approaches to choosing an...Ch. 16 - What is the major difference between using SYX and...Ch. 16 - How does forecasting for monthly or quarterly data...Ch. 16 - Prob. 60PSCh. 16 - The monthly commercial and residential prices for...Ch. 16 - The data stored in McDonalds represent the gross...Ch. 16 - Teachers’ Retirement System of the City of New...Ch. 16 - Prob. 64PS
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- Suppose admission to a movie cost $7.50 in 2005. What was its price in 1979 dollars? Assume that all prices have risen at the same rate as the CPI. The price was about $ in 1979. (Round to the nearest cent.) Average Annual Consumer Price Index (CPI) (1982- 1984=100) Year CPI Year CPI Year CPI 1976 56.9 1989 124.0 2001 177.1 1977 60.6 1990 130.7 2002 179.9 2003 184.0 1978 65.2 1991 136.2 1992 1979 72.6 140.3 2004 188.9 1980 82.4 1993 144.5 2005 90.9 1994 148.2 2006 2007 1981 1982 96.5 1983 99.6 1984 103.9 1985 107.6 1995 152.4 1996 156.9 2008 1997 160.5 2009 1998 163.0 2010 1986 109.6 1999 166.6 2011 1987 113.6 2000 172.2 2012 1988 118.3 195.3 201.6 207.3 215.3 214.5 218.1 224.9 229.6arrow_forwardIn May, about 451 thousand existing homes were sold in the U.S., and sales were decreasingby 3.4% per month.(a) Create a model for this situation. (Recall that you should define the independent anddependent variables and their units, as well as provide an equation.)(b) If this trend continues, how many existing homes will be sold in the U.S. in October?(Round to the nearest thousand homes.)arrow_forwardA. discuss the time period(s) when the sales trend is increasing, B. and when it is decreasing. C. Also indicate any periods where the trend stayed constant (that is, it did not change).arrow_forward
- The Pennsylvania State University had enrollments of 40,571 students in 2000 and 41,289 students in 2004 at its main campus in University Park, Pennsylvania. Assuming the enrollment growth is linear, predict the enrollments in 2008 and 2010.arrow_forwardWhat do the Forecast for each year add up to?arrow_forwardNominal income refers to an income value that is not adjusted for inflation. Real income adjusts the nominal value for the rate of inflation. Real income per capita is considered a good measure of the buying power of an individual in a particular area because it adjusts for both the number of people in the area and the relative inflation of the area. According to Forbes magazine, the state with the highest annual real income per capita in 2020 is Connecticut with a real per capita income of $68,533. Suppose that the annual real income of individuals in Connecticut follows a normal distribution with a mean of $68,533 and standard deviation of $23,480. (a) What is the probability that an individual in Connecticut has an annual real income of $54,000 or more? (Round your answer to four decimal places.) (b) What is the probability that an individual in Connecticut has an annual real income of $29,000 or less? (Round your answer to four decimal places.) (c) What is the probability…arrow_forward
- The average annual cost (tuition, fees, and room and board) at four-year private universities rose from $6,566 in 1980 to $29,188 in 2004. Calculate the percentage rise in cost from 1980 to 2004, and compare it to the overall rate of inflation as measured by the Consumer Price Index. The Consumer Price Index for 1980 is 85.4 and the Consumer Price index for 2004 is 188.6. The percentage rise in cost from 1980 to 2004 is %. (Round to the nearest tenth as needed.) Carrow_forwardMac Corp. is considering a project that has the following cash flow data. What is the project’s internal rate of return (IRR)? Year 0 1 2 3 Cash flow -$1,000 $425 $425 $425arrow_forwardIn the last three years, there have been changes of 55%, 3% and 2% in the production amount of a good, respectively. What is the geometric mean of the annual rate of change?arrow_forward
- Total spending on health care in a certain region rose from $881 million in 1977 to $941 billion in 2007. Compare this rise in health care spending to the overall rate of inflation as measured by the Consumer Price Index. Click the icon to view the Average Annual Consumer Price Index. Health care spending increased by %. (Round to the nearest percent as needed.) Average Annual Consumer Price Index (1982-1984-100 Year CPI Year CPI Year CPI 1976 56.9 1987 113.6 1998 163.0 166.6 1977 60.6 1988 118.3 1999 1978 65.2 1989 124.0 2000 172.2 130.7 136.2 2001 2002 1979 72.6 1990 177.1 1980 1981 82.4 1991 179.9 140.3 2003 2004 90.9 1992 184.0 144.5 148.2 188.9 195.3 201.6 1982 96.5 1993 99.6 103.9 2005 2006 1983 1994 1984 1995 152.4 2007 207.3 2008 215.3 1996 156.9 107.6 109.6 1985 1986 1997 160.5 Print Done Enter your answer in the answer box and then click Check Answer.arrow_forwardWhat is an economic model? Discuss the relevance of models to economic analysisarrow_forwardThe table shows the inflation-adjusted annual income per person in 1990 and 2011 for each listed country. Which country had the smallest relative increase in annual income per person from 1990 to 2011? What was the smallest relative increase? |1990 2011 |Country A $33,304 $41,451 Country B $23,036 $30,829 Country C $1,986 $7,656 Country D $893 $1,140 Country had the smallest relative increase in annual income per person from 1990 to 2011. It was about %. (Round to the nearest tenth as needed.)arrow_forward
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