ch01 SOLUTION.pdf - Chapter 1 Introduction to Statistics 1...

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Chapter 1: Introduction to Statistics 1 Chapter 1 Introduction to Statistics 1.1 Examples of data in functional areas: accounting cost of goods, salary expense, depreciation, utility costs, taxes, equipment inventory, etc. finance - World bank bond rates, number of failed savings and loans, measured risk of common stocks, stock dividends, foreign exchange rate, liquidity rates for a single-family, etc. hr - salaries, size of engineering staff, years experience, age of employees, years of education, etc. marketing - number of units sold, dollar sales volume, forecast sales, size of sales force, market share, measurement of consumer motivation, measurement of consumer frustration, measurement of brand preference, attitude measurement, measurement of consumer risk, etc. is - c.p.u. time, size of memory, number of work stations, storage capacity, percent of professionals who are connected to a computer network, dollar assets of company computing, number of “hits” on the Internet, time spent on the Internet per day, percentage of people who use the Internet, retail dollars spent in e-commerce, etc. production - number of production runs per day, weight of a product; assembly time, number of defects per run, temperature in the plant, amount of inventory, turnaround time, etc. management - measurement of union participation, measurement of employer support, measurement of tendency to control, number of subordinates reporting to a manager, measurement of leadership style, etc. 1.2 Examples of data in business industries: manufacturing -size of punched hole, number of rejects, amount of inventory, amount of production, number of production workers, etc.
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