8 Homework1 Solns

8 Homework1 Solns - BUAD 310 Homework 1 Solutions(Total 100...

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- 1 - BUAD 310 Homework 1 Solutions (Total 100 points) Due Wednesday, September 8, 2010 in class The homework assignment has two parts. Section A consists of problems from the textbook. Section B consists of additional problems. Please ensure that your answers are neat and legible. Part A: textbook problems (11 problems) 1. [6 pts] p. 26 #22 [Cross sectional data are collected for different subjects at the same time, and time series data are collected for the same subject over the time. For part (b), give a name to the variable and indicate if the variable is quantitative or categorical] (a) The data is cross sectional. (b) The variables are Reaction to increase (categorical), Current balance, and Other aspects of the customer that would be useful additions to the data. (Bank may not care if it loses unprofitable customers.) (c) How many customers responded to the questionnaire? Were their responses about leaving the bank sincere? 2. [6 pts] p. 26 #26 [The same as Problem 1] (a) The data is a time series. (b) The variable is the Average time spent on the lot for ten car models (quantitative for each model). (c) Did dealers accurately report this information? Were all dealers surveyed, or just some of them? If it’s a survey, did it concentrate more in some regions than others? 3. [5 pts] p. 44 #14 False. The values have to be in one category for the variable to have no variation. 4. [5 pts] p. 46 #39 The mode is Public. There’s no median for this chart; the data is not ordered. 5. [5 pts] p. 47 #40 The East is the modal location. To find the median size, notice there are 50 sizes given, so the median is the size in position 25 or 26. Both lie in the category 10,000 to 19,999. Enrollment categories are ordinal and should not be shown in a pie chart.
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8 Homework1 Solns - BUAD 310 Homework 1 Solutions(Total 100...

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