Concept explainers
Reports have found that many U.S. adults would rather live in a different type of community than the one in which they are living now. A national survey of 2,260 adults asked: “Where do you live now?” and “What do you consider to be the ideal community?” Response options were City (C), Suburb (S), Small Town (T), or Rural (R). A representative portion of this survey for a sample of 100 respondents is as follows:
- a. Provide a percent frequency distribution and a histogram for each question.
- b. Where are most adults living now?
- c. Where do most adults consider the ideal community to be?
- d. What changes in living areas would you expect to see if people moved from where they currently live to their ideal community?
a.
Create a percent frequency distribution and histogram for each question.
Answer to Problem 8P
The percent frequency distribution for each question is as follows:
Where do you live now?
Living area | Frequency | Percent frequency |
C | 32 | |
R | 16 | |
S | 26 | |
T | 26 |
What do you consider to be the ideal community?
Living area | Frequency | Percent frequency |
C | 24 | |
R | 21 | |
S | 25 | |
T | 30 |
The histogram for each question is as follows:
Where do you live now?
What do you consider to be the ideal community?
Explanation of Solution
Frequency distribution:
It is a table that summarizes the frequency of data values in each of several nonoverlapping bins.
Percent frequency distribution:
It is a table that summarizes the percentage of data values in each of the nonoverlapping bins.
Step-by-step procedure to obtain frequency data using EXCEL:
- Select A1:B101.
- Select Insert > PivotTable.
- Under Select a table or range, enter “$A$1:$A$101” in Table/Range.
- Click OK.
- Drag Where do you live now? to Rows.
- Drag Where do you live now? to ∑ Values.
- Click on Where do you live now? in ∑ Values.
- Select Value Field Settings.
- In Summarize value field by, choose Count and click OK.
- Now, click on Where do you live now? and Count of Where do you live now? in Drag fields between areas below and Remove Field.
- Drag What do you consider to be the ideal community? to Rows.
- Drag What do you consider to be the ideal community? to ∑ Values.
- Click on What do you consider to be the ideal community? in ∑ Values.
- Select Value Field Settings.
- In Summarize value field by, choose Count and click OK.
Outputs obtained is as follows:
The percent frequency distribution for each question is computed as follows:
Where do you live now?
Living area | Frequency | Percent frequency |
C | 32 | |
R | 16 | |
S | 26 | |
T | 26 | |
Total | 100 | 100 |
What do you consider to be the ideal community?
Living area | Frequency | Percent frequency |
C | 24 | |
R | 21 | |
S | 25 | |
T | 30 | |
Total | 100 | 100 |
Step-by-step procedure to plot histogram using EXCEL:
- Select Insert.
- Choose Insert Column or Bar Chart under Charts.
- In Series Options, enter Gap Width as 0%.
Similarly, the histogram for the other question also obtained.
Thus, the percent frequency distribution and histogram are obtained.
b.
Find the community where most adults are living now.
Answer to Problem 8P
The most adults are living in City (C).
Explanation of Solution
From Part (a), it is clear that for the question “Where do you live now?”, the percent frequency for City (C) is 32, which is highest when compared to other community.
Therefore, the most adults are living in City (C).
c.
Find the community where most adults consider the ideal community to be.
Answer to Problem 8P
The community where most adults consider the ideal community is Small Town (T).
Explanation of Solution
From Part (a), it is clear that for the question “What do you consider to be the ideal community?”, the percent frequency for Small Town (T) is 30, which is highest when compared to other community.
Therefore, the most adults are living in Small Town (T).
d.
Explain the expected changes in living areas if people moved from where they currently live to their ideal community.
Explanation of Solution
The percent frequency distribution is obtained in Part (a). The difference between the percent frequencies for ideal community and currently living community is computed as follows:
Living area | Living now | Ideal community | Difference |
C | 32 | 24 | |
R | 16 | 21 | |
S | 26 | 25 | |
T | 26 | 30 |
It is clear that there is no substantial change in Suburb living (S). However, the difference in percent between ideal community and currently living community is high for Small Town (T) and Rural (R). Hence, it would be expected that living in City (C) would decline, whereas, living in Small Towns (T) and Rural (R) would increase.
Want to see more full solutions like this?
Chapter 2 Solutions
Essentials of Business Analytics (MindTap Course List)
- 15.8. Consider the single-sampling plan found in Exercise 15.5. Suppose that lots of N = 2,000 are submitted. Draw the ATI curve for this plan. Draw the AOQ curve and find the AOQL. n = 35; c = 1; N = 2,000 ATI = n + (1 − Pa)(N − n) Pap(N-n) AOQ AOQL N N= n= C= 2000 35 1 P binomial Pa=Pr{d<=1} ATI AOQ 0.001 0.999 36 0.0010 0.002 0.998 39 0.0020 0.003 0.995 45 0.0029 0.004 0.991 52 0.0039 ATI curve for n=35, c=1| AOQ curve for n-35, c=1arrow_forwardProblem 2: (10 pts) You have observations on investments (y) and profits (x) for 100 civil engineering firms. You assume that you can fit a linear regression model using OLS as follows: y=a+ẞX + ε You want to obtain estimates for a and B. a) Suppose every civil engineering firm in the sample has the same amount of profits. What, if any, problem would this create? Explain and justify your answer. b) If the distribution of the profits were not normal, can you use linear regression? Explain and justify your answer. c) If profits were presented in categories, would estimating a linear regression model be appropriate? Explain and justify your answer.arrow_forwardAll analysis, calculations, and explanations must be done in a single Excel file (use separate Excel sheets for each question). Upload the completed Excel file using the file extension format Lastname_Firstname_RegressionProblem. Regression Problem Sarah Anderson, the business analyst at TV Revolution, is conducting research on the dealership’s various television brands. She has collected data over the past year (2022) on the manufacturer, screen size, and price of various television brands. The data is given in the file below. You have been hired as an intern to run analyses on the data and report the results back to Sarah; the five questions that Sarah needs you to address are given below. Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship. Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive,…arrow_forward
- Question number 6 (4 points) Sampling assignment: A list of the top 100 universities in the world is provided in the attached file. Draw a sample of 40 universities using random sampling and include a snapshot of your results from Excel in this Microsoft Word file (2 points: 1 for generating random numbers and the other for the sample drawn from the dataset.) Draw a sample of 20 universities using systematic sampling. Make sure to randomize the data before systematic sampling; and include a snapshot from Microsoft Excel in this Microsoft Word file (2 points). You can use the following template for systematic sampling.arrow_forwardThe data provided in the following table pertains to three separate questions: One sample T-test, Two Sample T-Test, and ANOVA. The same data is also provided in Microsoft Excel file. Answer the questions provided in the table. Report your results by comparing the significance level to 5%. Additionally, state your conclusion clearly in terms of whether the null hypothesis is rejected or not rejected. Avoid using terms like "accepted" or "not accepted" in your conclusion. Question 1: A retail store manager claims that the average daily sales of the store are $1,500. You aim to test whether the actual average daily sales differ significantly from this claimed value. (2 points = 0.25x4 parts) Make null and alternative hypothesis for one sample T-test Conduct One Sample T Test and provide a snapshot of results from excel. Null = Alternative = Conclusion: Since the p value is (choose one: less / greater) than 5%,arrow_forward6. We are trying to model the relationship between X = the amount of for tilizer (tons per acre), and Y = corn yield (tone per acre). The following data were obtained for n=6 experimental plots y ** y* *y 0 18 0 324 0 1 22 1 484 7 2 24 4 576 48 3 25 7 625 75 4 25 16 625 100 Total 10 114 ? 2634 245 19 20 y 21 22 23 24 25 22 23 18 (a) Compute the regression equation of Y as a linear function of X. Add the regression line to the plot. (b) Predict the yield when X = 0.1. (c) Find the value of the correlation coefficient. Extra Credit Conduct a hypothesis test of whether the correlation is significantly different from 0.arrow_forward
- The data below provides the length (in inches) of 17 fish caught by guests on Tammy’s Charter Fishing Boat this weekend. Calculate the upper fence to determine if the largest fish caught that day was an outlier. NOTE: Upper fence = Q3 + 1.5 (IQR) and calculator use is allowed. 40, 42, 43, 44, 46, 46, 46, 48, 50, 51, 51, 59, 67, 67, 69, 70, 79arrow_forwardQuestion 2: A company launches two different marketing campaigns to promote the same product in two different regions. After one month, the company collects the sales data (in units sold) from both regions to compare the effectiveness of the campaigns. The company wants to determine whether there is a significant difference in the mean sales between the two regions. Q: Is there a significant difference in the mean sales between the two regions? Use a 5% significance level. (2 points = 0.25x4 parts) Make null and alternative hypothesis for two sample T-test Conduct Two Sample T test and provide a snapshot of results Null: Alternative: Conclusion: Since the p value is (choose one: less / greater) than 5%,arrow_forwardQuestion 3: A marketing agency wants to determine whether different advertising platforms generate significantly different levels of customer engagement. The agency measures the average number of daily clicks on ads for three platforms: Social Media, Search Engines, and Email Campaigns. The agency collects data on daily clicks for each platform over a 10-day period and wants to test whether there is a statistically significant difference in the mean number of daily clicks among these platforms. (2 points = 0.25x4 parts) Make null and alternative hypothesis for ANOVA Conduct ANOVA test and provide a snapshot of results Null: Alternative: Conclusion: Since the p value is (choose one: less / greater) than 5%,arrow_forward
- 8. A large online retailer is analyzing how frequently their product WonderWidget™ is returned. Out of 345 Wonder Widgets bought, 48 were returned. (a) Find the 97% confidence interval for the long-run proportion of WonderWidgets returned. (b) If the retailer wanted to obtain a 97% confidence interval with a margin of error +0.03, how many purchases it should analyze?arrow_forwardBinomial probability problem: A new teaching method claims to improve student engagement. A survey reveals that 60% of students find this method engaging. If 10 students are randomly selected, what is the probability that: a) Exactly 7 students find the method engaging? b) At least 8 students find the method engaging? (please note that “at least 8” is different from 8) Question 1: Binomial probability of exactly 7 students (1 point) Question 2: Binomial probability of at least eight students (1 point)arrow_forwardStandard normal distribution problem: A company found that the daily sales revenue of its flagship product follows a normal distribution with a mean of $5,000 and a standard deviation of $500. The company defines a "high-sales day" as any day with sales exceeding $5,750. What percentage of days can the company expect to have "high-sales days"? What is the sales revenue threshold for the bottom 10% of days? (please note that 10% refers to the probability/area under bell curve towards the lower tail of bell curve) Question 1: What percentage of days can the company expect to have "high-sales days"? (1 point) Question 2: What is the sales revenue threshold for the bottom 10% of days? (please note that 10% refers to the probability/area under bell curve towards the lower tail of bell curve) (1 point)arrow_forward
- Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin HarcourtHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill