ASBE 5e Solutions for Instructors
Chapter 12
Bivariate Regression
12.1
For each sample: H0: = 0 versus H1: 0. The following formula is used to calculate the
test statistic:
and tcrit =T.INV(/2,df). Because these are all two-tailed
tests the decision rule
ASBE 5e Solutions for Instructors
Chapter 16
Nonparametric Tests
16.1
H0: Events follow a random pattern
H1: Events do not follow a random pattern
Because the p-value (.8942) is greater than .05 we fail to reject the null hypothesis of
randomness.
Runs Te
ASBE 5e Solutions for Instructors
Chapter 11
Analysis of Variance
11.1
a.
b.
c.
n = total df +1 = 39 + 1 = 40
The number of groups is equal to the between groups d.f. plus 1 or 4 + 1 =5.
H0: A = B = C = D
means are the same
H1: Not all the means are equa
ASBE 5e Solutions for Instructors
Chapter 13
Multiple Regression
13.1
a.
= 4.306 0.082ShipCost + 2.265PrintAds + 2.498WebAds + 16.697Rebate%
b.
The coefficient of ShipCost says that each additional $1 of shipping cost reduces
about $ 0.082 from net revenu
ASBE 5e Solutions for Instructors
Chapter 15
Chi-Square Tests
15.1
a.
b.
c.
d.
e.
f.
g.
H0: Choice of vehicle and Buyers age are independent.
Degrees of Freedom = (r1)(c1) = (41)(31) = 6
CHISQ.INV.RT(.1,6) = 10.64 and test statistic = 10.667.
Test statist
ASBE 5e Solutions for Instructors
Chapter 14
Time Series Analysis
Note: For questions that deal with best model the student should consider four criteria:
14.1
Occams Razor
Overall fit
Believability
Fit to recent data
Would a simpler model suffice?
How do
ASBE 5e Solutions for Instructors
Chapter 17
Quality Management
17.1
a. Productivity is a ratio of output to input and measures efficiency.
b. Quality control refers to methods used to ensure product or service quality.
c. Process control refers to method
1. A medical supply firm wishes to compare the mean daily output of its three
plants in Toledo, Ohio; Ottumwa, Iowa; and Crab Apple Cove, Maine. Data were
collected (measured in hundreds of units) for each site and are listed here.
Toledo:
10
12
15
18
9
1
ASBE 5e Solutions for Instructors
Chapter 10
Two-Sample Hypothesis Tests
10.1
Use the following formulas for each test in (a) (c), substituting the appropriate values.
Check work with LearningStats file 10-03 Calculator - Two Means. You can also use
MegaS
ASBE 5e Solutions for Instructors
Chapter 6
Discrete Distributions
6.1
Example A is a probability distribution because the sum of P(x) is 1 (.8 + .2 = 1) and all
probabilities are nonnegative.
Examples B and C are not probability distributions because the
ASBE 5e Solutions for Instructors
Chapter 1
Overview of Statistics
1.1
a. Statistics can be used to 1) determine what a typical commission is and then 2) use that
value to identify commissions that appear to be unusually high.
b. She could use statistics
ASBE 5e Solutions for Instructors
Chapter 2
Data Collection
2.1
a. Categorical
b. Categorical
c. Discrete numerical
Learning Objective: 02-2
2.2
a. Continuous numerical
b. Discrete numerical
c. Categorical
d. Continuous numerical
Learning Objective: 02-2
ASBE 5e Solutions for Instructors
Chapter 5
Probability
5.1
a. S = cfw_(V,B), (V,E), (V,O), (M,B), (M,E), (M,O), (A,B), (A,E), (A,O)
b. Events are not equally likely. Barnes and Noble probably carries more books than other
merchandise.
Learning Objective:
ASBE 5e Solutions for Instructors
Chapter 8
Sampling Distributions and Estimation
8.1
For a 90% interval use z.05 =NORM.S.INV(.95) = 1.645
a. For = 100, = 12, n = 36:
or [96.71, 103.29]
12
100 1.645
36
b. For = 2,000, = 150, n = 9:
or [1917.75, 2082.25]
1
ASBE 5e Solutions for Instructors
Chapter 3
Describing Data Visually
3.1
a.
Stem and Leaf plot for
stem unit =
leaf unit =
#1
10
1
Frequency
1
5
7
10
Stem
0
1
2
3
1
4
Leaf
9
56889
1145667
1222334559
2
24
b.
DotPlot
5
10
15
20
25
30
Number of Customers
35
ASBE 5e Solutions for Instructors
Chapter 9
One-Sample Hypothesis Tests
9.1
a. (.05)(1000) = 50 times
b. (.01)(1000) = 10 times
c. (.001)(1000) = 1 time
Learning Objective: 09-3
9.2
a. Null hypothesis: The man is not having a heart attack. Type I error: I
ASBE 5e Solutions for Instructors
Chapter 4
Descriptive Statistics
4.1
a. Mean = 2.83, Median = 1.5, Mode = 0. Any one of these would be a useful measure of
center. Data appears skewed right with many values equal to zero so one might choose
median or mod
ASBE 5e Solutions for Instructors
Chapter 7
Continuous Distributions
Calculations are done on Excel except where noted that Appendix Tables are used.
Probabilities are rounded to four decimals. Z scores are typically rounded to two
decimals when using App
Chapter 13
$D=$S
US exports + capital imports = US imports + capital output
X + CI = M + CO
X M = CO CI
Net exports = net capital output
NX = NCO
-5 % GDP = -5% GDP
$18t = GDP
NX = NCO
-$900b = -$900b
Figure 2, pg 277
International Debt Position of the US
Social Security
SS was developed to redistribute incomes, age is the primary determinant of eligibility
SS is a social insurance program, rather than a welfare program
Program features
Mix of three separate income transfers: retired workers, survivors of
Labor
Labor supply- the willingness and ability to work specific amounts of time at alternative wage
rates in a given time period, ceteris paribus
INCOME vs. LEISURE
Reward for working
paycheck
intrinsic satisfaction of workingtypically greater with MBA g
Platt Amendment
1901-1934, US imposed on the Constitution,
Gave the US the right to intervene in Cuba whenever they wanted, gave US final
approval of Cuban Foreign loans, US had right to lease bases anywhere in Cuba
Export sugar to Cuba, large concentr
Philosopher
Plato
Epicurus
Arrupe
Definition/Principles of Justice
Justice= harmony
Harmony is achieved by doing
ones jobmaintain the principle
of specialization
Specialization applied to the
tripartite soul and that fact that
everyone has a role withi
Major transfer programs
Income transfers-payments to individuals for which no current goods or services are exchanged,
such as Social Security
Cash versus In-Kind Benefits
In-kind transfers- direct transfers of gods and services rather then cash, such as
Pursuit of comparative advantage
Opportunity costs
Comparative advantage- the ability of a country to produce a specific good at a lower
opportunity cost than its trading partners
Relative cost of producing goods
Opportunity cost- the most desired good or
Stagnation in ISI 1960-1980:
Problems:
1) Structure of ISI limited -industrialization only in certain sectors -capital goods necessary
for production of a finished product were still imported (e.g., machine tools) -local firms
vulnerable to price fluctuat
What is Income?
Personal income
Personal income- income received by households before payment of personal taxes
Includes wages, rent, insurance, Social Security benefits, and other forms of money income
Not a complete measure of income
In-kind income- goo
US Trade Patterns
Imports
Imports- goods and services purchased from international sources
Exports
Exports-goods and services sold to foreign buyers
Trade balances
Trade balance= exports imports
Trade deficit- the amount by which the value of imports exce