Elementary Statistics: A Step By Step Approach
10th Edition
ISBN: 9781259755330
Author: Allan G. Bluman
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 2.3, Problem 5E
Online Ad Spending The amount spent (in billions of dollars) for ads online is shown. (The numbers for 2016 through 2019 are projected numbers.) Draw a time series graph and comment on the trend.
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The table gives the yearly sales, S, of a retail store in years.
The following table gives the average monthly exchange rate between the U.S. dollar and the euro for 2009. It shows that 1 euro was equivalent to 1.289 U.S. dollars in January 2009. Develop a trend line that could be used to predict the exchange rate for 2010. Use this model to predict the exchange rate for January 2010 and February 2010. MONTH ______________________ EXCHANGE RATE January ....................................... 1.289 February ...................................... 1.324 March ......................................... 1.321 April .......................................... 1.317 May ........................................... 1.280 June ........................................... 1.254 July ........................................... 1.230 August ....................................... 1.240 September ................................... 1.287 October ..................................... 1.298 November .................................. 1.283 December…
In retail, a store manager uses time series models to understand shopping trends.
Review the scatter plot of the store’s sales from 2010 through 2021 to answer the questions. See attached as image.
Here is the data for Fiscal Year and Sales:
Fiscal Year
Sales
2010
$260,123.00
2011
$256,853.00
2012
$274,366.00
2013
$290,525.00
2014
$322,318.00
2015
$380,921.00
2016
$541,925.00
2017
$909,050.00
2018
$1,817,521.00
2019
$3,206,564.00
2020
$4,921,005.00
2021
$5,686,338.00
Time series decomposition seeks to separate the time series (Y) into 4 components: trend (T), cycle (C), seasonal (S), and irregular (I). What is the difference between these components?
The model can be additive or multiplicative. When do you use each?
Review the scatter plot of the exponential trend of the time series data. Do you observe a trend? If so, what type of trend do you observe?
What predictions might you make about the store’s annual sales over the next few years?
Chapter 2 Solutions
Elementary Statistics: A Step By Step Approach
Ch. 2.1 - Ages of Presidents at Inauguration The data...Ch. 2.1 - List five reasons for organizing data into a...Ch. 2.1 - Name the three types of frequency distributions,...Ch. 2.1 - How many classes should frequency distributions...Ch. 2.1 - What are open-ended frequency distributions? Why...Ch. 2.1 - For Exercises 58, find the class boundaries,...Ch. 2.1 - For Exercises 58, find the class boundaries,...Ch. 2.1 - For Exercises 58, find the class boundaries,...Ch. 2.1 - For Exercises 58, find the class boundaries,...Ch. 2.1 - For Exercises 912, show frequency distributions...
Ch. 2.1 - For Exercises 912, show frequency distributions...Ch. 2.1 - For Exercises 912, show frequency distributions...Ch. 2.1 - For Exercises 912, show frequency distributions...Ch. 2.1 - Favorite Coffee Flavor A survey was taken asking...Ch. 2.1 - Trust in Internet Information A survey was taken...Ch. 2.1 - Eating at Fast Food Restaurants A survey was taken...Ch. 2.1 - Ages of Dogs The ages of 20 dogs in a pet shelter...Ch. 2.1 - Maximum Wind Speeds The data show the maximum wind...Ch. 2.1 - Stories in the Worlds Tallest Buildings The number...Ch. 2.1 - Ages of Declaration of Independence Signers The...Ch. 2.1 - Salaries of Governors Here are the salaries (in...Ch. 2.1 - Charity Donations A random sample of 30 large...Ch. 2.1 - Unclaimed Expired Prizes The number of unclaimed...Ch. 2.1 - Scores in the Rose Bowl The data show the scores...Ch. 2.1 - Consumption of Natural Gas Construct a frequency...Ch. 2.1 - Average Wind Speeds A sample of 40 large cities...Ch. 2.1 - Percentage of People Who Completed 4 or More Years...Ch. 2.1 - JFK Assassination A researcher conducted a survey...Ch. 2.1 - The Value of Pi The ratio of the circumference of...Ch. 2.2 - Selling Real Estate Assume you are a realtor in...Ch. 2.2 - Do Students Need Summer Development? For 108...Ch. 2.2 - Bear Kills The number of bears killed in 2014 for...Ch. 2.2 - Pupils Per Teacher The average number of pupils...Ch. 2.2 - Number of College Faculty The number of faculty...Ch. 2.2 - Railroad Crossing Accidents The data show the...Ch. 2.2 - NFL Salaries The salaries (in millions of dollars)...Ch. 2.2 - Suspension Bridges Spans The following frequency...Ch. 2.2 - Costs of Utilities The frequency distribution...Ch. 2.2 - Air Pollution One of the air pollutants that is...Ch. 2.2 - Making the Grade The frequency distributions shown...Ch. 2.2 - Blood Glucose Levels The frequency distribution...Ch. 2.2 - Waiting Times The frequency distribution shows the...Ch. 2.2 - Construct a histogram, frequency polygon, and...Ch. 2.2 - Construct a histogram, frequency polygon, and...Ch. 2.2 - Construct a histogram, frequency polygon, and...Ch. 2.2 - Construct a histogram, frequency polygon, and...Ch. 2.2 - Home Runs The data show the most number of home...Ch. 2.2 - Protein Grams in Fast Food The amount of protein...Ch. 2.2 - Using the histogram shown here, do the following....Ch. 2.2 - Using the results from Exercise 19. answer these...Ch. 2.2 - Math SAT Scores Shown is an ogive depicting the...Ch. 2.3 - Applying the Concepts 23 Causes of Accidental...Ch. 2.3 - Tech Company Employees Construct a vertical and...Ch. 2.3 - Worldwide Sales of Fast Foods The worldwide sales...Ch. 2.3 - Gulf Coastlines Construct a Pareto chart for the...Ch. 2.3 - Roller Coaster Mania The World Roller Coaster...Ch. 2.3 - Online Ad Spending The amount spent (in billions...Ch. 2.3 - Violent Crimes The number of all violent crimes...Ch. 2.3 - U.S. Licensed Drivers 70 or Older Draw a time...Ch. 2.3 - Valentines Day Spending The data show the average...Ch. 2.3 - Credit Cards Draw and analyze a pie graph for the...Ch. 2.3 - Reasons We Travel The following data are based on...Ch. 2.3 - Kids and Guns The following data show where...Ch. 2.3 - Colors of Automobiles The popular car colors are...Ch. 2.3 - Ages of Football Players The data show the ages of...Ch. 2.3 - Teacher Strikes In Pennsylvania the numbers of...Ch. 2.3 - Years of Experience The data show the number of...Ch. 2.3 - Commuting Times Fifty off-campus students were...Ch. 2.3 - Home Run Club There are 43 Major League baseball...Ch. 2.3 - Calories in Salad Dressings A listing of calories...Ch. 2.3 - Length of Major Rivers The data show the lengths...Ch. 2.3 - Math and Reading Achievement Scores The math and...Ch. 2.3 - State which type of graph (Pareto chart, time...Ch. 2.3 - State which graph (Pareto chart, time series...Ch. 2.3 - U.S. Health Dollar The U.S. health dollar is spent...Ch. 2.3 - Prob. 24ECh. 2.3 - Cost of Milk The graph shows the increase in the...Ch. 2.3 - U.S. Population by Age The following information...Ch. 2.3 - Chicago Homicides Draw and compare two time series...Ch. 2.3 - Trip Reimbursements The average amount requested...Ch. 2 - How People Get Their News The Brunswick Research...Ch. 2 - Mens World Hockey Champions The United States won...Ch. 2 - BUN Count The blood urea nitrogen (BUN) count of...Ch. 2 - Wind Speed The data show the average wind speed...Ch. 2 - Waterfall Heights The data show the heights (in...Ch. 2 - Ages of the Vice Presidents at the Time of Their...Ch. 2 - Find the relative frequency for the frequency...Ch. 2 - Find the relative frequency for the frequency...Ch. 2 - Construct a histogram, frequency polygon, and...Ch. 2 - Construct a histogram, frequency polygon, and...Ch. 2 - Construct a histogram, frequency polygon, and...Ch. 2 - Construct a histogram, frequency polygon, and...Ch. 2 - Non-Alcoholic Beverages The data show the yearly...Ch. 2 - Calories of Nuts The data show the number of...Ch. 2 - Crime The data show the percentage of the types of...Ch. 2 - AID: 1825 | 31/5/2018 16. Pet Care The data (in...Ch. 2 - Broadway Stage Engagements The data show the...Ch. 2 - High School Dropout Rate The data show the high...Ch. 2 - Prob. 2.3.19RECh. 2 - Smart Phone Insurance Construct and analyze a pie...Ch. 2 - Prob. 2.3.21RECh. 2 - Prob. 2.3.22RECh. 2 - Weights of Football Players A local football team...Ch. 2 - Public Libraries The numbers of public libraries...Ch. 2 - Pain Relief The graph below shows the time it...Ch. 2 - Casino Payoffs The graph shows the payoffs...Ch. 2 - From the Data Bank located in Appendix B, choose...Ch. 2 - Prob. 2DACh. 2 - From the Data Bank, select at least 30 subjects...Ch. 2 - Prob. 4DACh. 2 - Using the data from Data Set XI in Appendix B,...Ch. 2 - Prob. 7DACh. 2 - Determine whether each statement is true or false....Ch. 2 - Prob. 2CQCh. 2 - Prob. 3CQCh. 2 - Frequency distributions can aid the researcher in...Ch. 2 - Determine whether each statement is true or false....Ch. 2 - Prob. 6CQCh. 2 - Determine whether each statement is true or false....Ch. 2 - Prob. 8CQCh. 2 - What are the boundaries for 8.68.8? a. 89 b....Ch. 2 - What graph should be used to show the relationship...Ch. 2 - Prob. 11CQCh. 2 - The three types of frequency distributions are...Ch. 2 - In a frequency distribution, the number of classes...Ch. 2 - Prob. 14CQCh. 2 - Data collected over a period of time can be...Ch. 2 - A statistical device used in exploratory data...Ch. 2 - On a Pareto chart, the frequencies should be...Ch. 2 - Housing Arrangements A questionnaire on housing...Ch. 2 - Housing Arrangements A questionnaire on housing...Ch. 2 - Prob. 20CQCh. 2 - Construct a histogram, a frequency polygon, and an...Ch. 2 - Coal Consumption The following data represent the...Ch. 2 - Construct a histogram, frequency polygon, and...Ch. 2 - Recycled Trash Construct a Pareto chart and a...Ch. 2 - Identity Thefts The results of a survey of 84...Ch. 2 - Needless Deaths of Children The New England...Ch. 2 - Prob. 27CQCh. 2 - Parking Meter Revenue In a small city the number...Ch. 2 - Prob. 29CQCh. 2 - The Great Lakes Shown are various statistics about...Ch. 2 - Teacher Strikes In Pennsylvania there were more...
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