Statistics for Business & Economics 14th Edition by David R. Anderson test bank
NATIONAL STANDARDS:
United States - BUSPROG: Analytic
STATE STANDARDS:
United States - AK - DISC: IMA: Reporting
KEYWORDS:
Bloom's: Apply
DATE CREATED:
9/26/2018 11:22 AM
DATE MODIFIED:
1/18/2019 3:47 PM
91. Michael, Inc., a manufacturer of electric guitars, is a small firm with 50 employees. The table below shows the hourly wage distribution of the employees.
Hourly Wages (In Dollars)
Number of Employees
10 - 13
8
14 - 17
12
18 - 21
20
22 - 25
10
a.
How many employees receive hourly wages of at most $18?
b.
What percentage of the employees have hourly wages of at least $22?
c.
What percentage of the employees have hourly wages of less than $14?
ANSWER:
a.
20
b.
20%
c.
16%
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Subjective Short Answer
HAS VARIABLES:
False
STUDENT ENTRY MODE:
Basic
LEARNING OBJECTIVES:
BSST.ASWC.20.01.04 - Descriptive Statistics
NATIONAL STANDARDS:
United States - BUSPROG: Analytic
STATE STANDARDS:
United States - AK - DISC: Descriptive Statistics
KEYWORDS:
Bloom's: Apply
DATE CREATED:
9/26/2018 11:22 AM
DATE MODIFIED:
1/18/2019 3:47 PM
92. The following information regarding the top eight Fortune 500 companies was presented in an issue of Fortune Magazine.
Sales
$ Millions
Sales
Rank
Profit
$ Millions
Profit
Rank
Company
General Motors
161,315
1
2,956
30
Ford Motor
144,416
2
22,071
2
Wal-Mart Stores
139,208
3
4,430
14
Exxon
100,697
4
6,370
5
General Electric
100,469
5
9,269
3
Int'l Business Machines
81,667
6
6,328
6
Citigroup
76,431
7
5,807
8
Philip Morris
57,813
8
5,372
9
Boeing
56,154
9
1,120
82
AT&T
53,588
10
6,398
4
a.
How many elements are in the above data set?
b.
How many variables are in this data set?
c.
How many observations are in this data set?
d.
Which variables are categorical and which are quantitative variables?
e.
What measurement scale is used for each variable?
ANSWER:
a.
10
b.
4
c.
10
d.
Sales and Profits are quantitative
Sales Rank, and Profits Rank are categorical
e.
Sales: ratio
Sales Rank: ordinal
Profits: ratio
Profits Rank: ordinal
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Subjective Short Answer
HAS VARIABLES:
False
STUDENT ENTRY MODE:
Basic
LEARNING OBJECTIVES:
BSST.ASWC.20.01.02 - Data
NATIONAL STANDARDS:
United States - BUSPROG: Analytic
STATE STANDARDS:
United States - AK - DISC: IMA: Reporting
KEYWORDS:
Bloom's: Understand
DATE CREATED:
9/26/2018 11:22 AM
DATE MODIFIED:
1/18/2019 3:47 PM
93. The following information regarding a sample of seven students is provided.
Student
Identification Number
Grade Point Average
Classification
Gender
Rank in Class
Adam
1234
2.89
Senior
Male
15
Brandon
8978
2.01
Junior
Male
25
Jason
6578
3.97
Freshman
Male
3
Marissa
2345
3.98
Sophomore
Female
2
Michelle
8901
2.67
Senior
Female
18
Wendy
7789
4.00
Senior
Female
1
Webster
6780
3.77
Freshman