Question: Are small and mid-sized business (SMB)
Are small and mid-sized business (SMB) owners concerned about limited access to money affecting their businesses? A sample of 150 female SMB owners and 146 male SMB owners revealed the following results: 
If a SMB owner is selected at random, what is the probability that the SMB owner; a. is concerned about limited access to money affecting the business? b. is a female SMB owner and is concerned about limited access to money affecting the business? c. is a female SMB owner or is concerned about limited access to money affecting the business? d. Explain the difference in the results of (b) and (c).
> A 201 9 PwC survey of 1,000 U.S. executives (available at pwc.to/2DAHI4q) indicated that artificial intelligence (AI) is no longer seen as a side project or science experiment. Eighty percent of U.S. CEOs think AI will significantly change the way they w
> A growing share of Americans use smartphones as their primary means of online access at home. A survey of U.S. adults found that 58% of the 18- to 29-year-olds, 47% of the 30- to 49-year-olds, 27% of the 50- to 64-year-olds, and 15% of those age 65 or ol
> Results of the 2019 annual banking priorities survey of a sample of 220 bankers nationwide by Computer Services, Inc., available at bit.ly/2POHAlk, reveal insights on key areas of strategic focus and spending among financial institutions. The results sho
> The file CD Rates contains the yields for one-year CDs and five-year CDs, for 46 financial institutions selling in Lake Worth, Florida, as of April 5, 2019. Source: Data extracted from www.Bankrate.com, April 5, 2019. For each type of account: a. Calcula
> The Super Bowl is a big viewing event watched by close to 200 million Americans, so it is also a big event for advertisers. The file Super Bowl Ad Ratings contains the rating of ads that ran between the opening kick-off and the final whistle. Source: Dat
> A financial services call center monitors call duration, the amount of time spent speaking to customers on the phone. The file Call Duration contains the data for time, in seconds, agents spent talking to 50 customers. a. Calculate the first quartile (Q1
> Ipsos polled 1,004 adults asking them, "If purchasing a used car made certain upgrades or features more affordable, what would be your preferred luxury upgrade?" The summarized results show that 9% of males and 14% of females answered window tinting. Sou
> In Problem 14.4, you used efficiency ratio and total risk-based capital to predict ROAA at a community bank (stored in Community Banks). a. Plot the residuals versus Y^i. b. Plot the residuals versus X1i. c. Plot the residuals versus X2i. d. In the resid
> The file Accounting Partners contains the number of partners in a cohort of rising accounting firms that have been tagged as "firms to watch." Source: Data extracted from 2019 Top 100 Firms, Bloomberg BNA, accounting today.com. a. Calculate the first qua
> The following is a set of data from a sample of n = 5: 7, -5, -8, 7, 9 a. Calculate the first quartile (Q1), the third quartile (Q3), and the interquartile range. b. List the five-number summary. c. Construct a boxplot and describe its shape. d. Compare
> In Problem 14.5, you used the percentage of alcohol and chlorides to predict wine quality (stored Vinho Verde). a. Plot the residuals versus Y^i; b. Plot the residuals versus X1i. c. Plot the residuals versus X2i. d. In the residual plots created in (a)
> What prevented the widespread adoption of business analytics in the past?
> What is the difference between coverage error and nonresponse error?
> What is the difference between a missing value and an outlier?
> What is the difference between a categorical variable and a numerical variable?
> What is the difference between a statistic and a parameter?
> A recent survey of insurance professionals explores the use of technology in the industry. The file Technologies contains the responses to the question that asked what technologies these professionals expect to be most used by the insurance industry in t
> How does the multiplication rule differ for events that are and are not independent?
> What is the difference between a simple event and a joint event?
> What are the assumptions of AN OVA?
> What is text analytics relationship to clustering and association methods?
> How will marketers change their organic (unpaid) social media postings in the near future? A survey by Social Media Examiner reported that 65% of B2B marketers (marketers who focus primarily on attracting businesses) plan to increase LinkedIn organic soc
> Referring to Problem 7 .18, the same survey reported that 20.9% of German companies have women directors and 80% have three or more women on the board. If you select a random sample of 200 German companies, a. what is the probability that the sample will
> How do dashboards enable business analytics users to explore data?
> A financial services call center monitors call duration, the amount of time spent speaking to customers on the phone. The file Call Duration contains the data for time, in seconds, agents spent talking to 50 customers: a. Calculate the mean, median, and
> Is there a difference in the variation of the yields of different types of investments? The file CD Rates contains the yields for one year certificates of deposit (CDs) and five-year CDs for 46 banks listed for West Palm Beach, Florida on April 5. Source
> The file contains the mobile commerce penetration values, the percentage of the country population that bought something online via a mobile phone in the past month, for 24 of the world's economies. Source: Data extracted from Statistica.com, bit.Iy/2vsn
> The following table, stored in Residential Electricity Usage, indicates the percentage of residential electricity consumption in the United States in 2018, organized by type of use. a. Construct a bar chart, a pie chart, and a Pareto chart. b. Which grap
> The file Accounting Partners contains the number of partners in a cohort of rising accounting firms that have been tagged as "firms to watch." Source: Data extracted from 2019 Top 100 Firms, Bloomberg BNA, accountingtoday.com. a. Calculate the mean, medi
> In Problem 14.3, you predicted non-profit charitable commitment, based on non-profit revenue and fundraising efficiency. The regression analysis resulted in this ANOVA table: Determine whether there is a significant relationship between commitment and th
> The file Mobile Speed contains the overall download and upload speeds in Mbps for eight carriers in the United States. For the download speed and the upload speed separately: a. Calculate the mean and median. b. Calculate the variance, standard deviation
> According to the U.S. Census Bureau (census.gov), the median sales price of new houses was $326,200, and the mean sales price was $384,600. a. Interpret the median sales price. b. Interpret the mean sales price. c. Discuss the shape of the distribution o
> What is meant by "data dimensionality?"
> Wired, a magazine that delivers a glimpse into the future of business, culture, innovation, and science, reported the following summary for the household incomes of its two types of subscribers, the print reader and the digital reader. Interpret the medi
> How are decision criteria used in decision rules?
> Explain the difference between explanatory and prediction models.
> What is artificial intelligence, and what is its relationship to machine learning?
> The following is a set of data from a sample of n = 7: 12, 7, 4, 9, 0, 7, 3 a. Calculate the first quartile (Q1), the third quartile (Q3), and the interquartile range. b. List the five-number summary. c. Construct a boxplot and describe its shape. d. Com
> In Example 5.4, you and two friends decided to go to Wendy's. Now, suppose that instead you go to Burger King, which recently filled approximately 90.9% of orders correctly. What is the probability that; a. all three orders will be filled correctly? b. n
> In the last quarter of 2018, 47% of U.S. smartphone owners owned an iPhone. Source: Data extracted from pewrsr.ch/2riDGV6. Using the binomial distribution, what is the probability that of the next six Americans who own a smartphone surveyed, a. four will
> CarMD reports that the mean repair cost of a Toyota in 2018 for a "check engine" light was $482. Source:www.carmd.com/wp/vehicle-health-index-introduction/2018-carmdmanufacturer-vehicle-rankings Suppose a sample of 100 "check engine" light repairs comple
> In Problem 9.44, what is your statistical decision if tSTAT = - 3.15? Data from Problem 9.44: In a one-tail hypothesis test where you reject H0 only in the lower tail, what is the critical value of the tSTAT test statistic with 20 degrees of freedom at
> In Problem 9 .40, what is the statistical decision if you test the null hypothesis at the 0.05 level of significance? Data from Problem 9.40: In a one-tail hypothesis test where you reject H0 only in the lower tail, what is the p-value if ZSTAT = + 1.38
> In Example 5.4, you and two friends decided to go to Wendy's. Now, suppose that instead you go to McDonald's, which recently filled approximately 92.9% of the orders correctly. What is the probability that; a. all three orders will be filled correctly? b
> You are working as an assistant to the dean of institutional research at your university. The dean wants to survey members of the alumni association who obtained their baccalaureate degrees five years ago to learn what their starting salaries were in the
> In Problems 9.18 and 9.19, what are the critical values of t if the level of significance, α, is 0.05 and the alternative hypothesis, H1, is µ, ≠ 50? Data from Problem 9.19: In Problem 9. 18, how many degrees of freedom does the t test have? Data from
> In Problem 9. 18, how many degrees of freedom does the t test have? Data from Problem 9.18: If, in a sample of n = 16 selected from a normal population, X = 56 and S = 12, what is the value of tSTAT if you are testing the null hypothesis H0: µ, = 50?
> If, in a sample of n = 16 selected from a normal population, X = 56 and S = 12, what is the value of tSTAT if you are testing the null hypothesis H0: µ, = 50?
> One operation of a steel mill is to cut pieces of steel into parts that are used in the frame for front seats in an automobile. The steel is cut with a diamond saw and the resulting parts must be cut to be within ± 0.005 inch of the length specified by t
> The file Fast Casual contains the amount that a sample of 15 customers spent for lunch ($) at a fast-food restaurant: a. At the 0.05 level of significance, is there evidence that the mean amount spent for lunch is different from $6.50? b. Determine the p
> A manufacturer of chocolate candies uses machines to package candies as they move along a filling line. Although the packages are labelled as 8 ounces, the company wants the packages to contain a mean of 8.15 ounces so that virtually none of the packages
> What is the difference between the geometric mean and the geometric rate of return?
> If, in a sample of n = 160 selected from a left-skewed population, X = 65, and S = 21, would you use the t test to test the null hypothesis H0: µ, = 60? Discuss.
> If, in a sample of n = 16 selected from a left-skewed population, X = 65, and S = 21, would you use the t test to test the null hypothesis H0: µ, = 60? Discuss.
> How do the boxplots for distributions of varying shapes differ?
> If you use a 0.05 level of significance in a two-tail hypothesis test, what is your decision rule for rejecting a null hypothesis that the population mean equals 500 if you use the Z test?
> In Problems 9.18, 9.19, and 9.20, what is your statistical decision if the alternative hypothesis, H1, is µ, # 50? Data from Problem 9.20: In Problems 9.18 and 9.19, what are the critical values of t if the level of significance, α, is 0.05 and the alte
> The file Fast Casual contains the amount that a sample of 15 customers spent for lunch ($) at a fast casual restaurant: a. Construct a 95% confidence interval estimate for the population mean amount spent for lunch ($) at a fast casual restaurant. b. Int
> The following table, stored in Energy Sources, contains the 2018 sources of electricity in the United States as reported by the Energy Information Administration. a. Construct a Pareto chart. b. What percentage of power is derived from coal, nuclear, or
> If X = 75, S = 24, and n = 36, and assuming that the population is normally distributed, construct a 95% confidence interval estimate for the population mean, µ.
> Is there a difference in the yields of different types of investments? The file CD Rates contains the yields for a one-year certificate of deposit (CD) and a five-year CD sold by 46 financial institutions in Lake Worth, Florida, as of April 5, 2019. Sour
> The Super Bowl, watched by close to 200 million Americans, is also a big event for advertisers. The file Super Bowl Ad Ratings contains the rating of ads that ran between the opening kick-off and the final whistle. Source: Data extracted from www.admeter
> How much time do commuters living in or near cities spend commuting to work each week? The file Commuting Time contains the average weekly commuting time in 30 U.S. cities. Source: Data extracted from Office of the New York City Comptroller, "NYC Economi
> The file Work Hours Needed contains the average number of hours worked necessary to afford the cost for three people to attend an NBA game, inclusive of parking and food and beverage costs, at each of the 30 NBA arenas during a recent season. a. Calculat
> Facebook's stock price in 2017 increased by 75.8%, and in 2018, it decreased by 25.7%. a. Compute the geometric mean rate of return per year for the two-year period 2017-2018. b. If you purchased $1,000 of Facebook stock at the start of 2017, what was it
> Why does widening the confidence interval (thereby making it less precise) increase confidence for a given sample size, n?
> How can you determine whether there is an interaction in the two-factor factorial design?
> Suppose that you are going to collect a set of data, either from an entire population or from a random sample taken from that population. a. Which statistical measure would you compute first: the mean or the standard deviation? Explain. b. What does your
> What are the properties of a set of numerical data?
> Do upload and download speeds vary between cities and Internet service providers? The file Internet Provider Speeds contains the upload and download speeds in Mbps in 40 different cities for four Internet service providers, AT&T, T-Mobile, Sprint, and Ve
> What is meant by the concept of interaction in a two-factor factorial design?
> Under what conditions should you use the two-way ANOVA F test to examine possible differences among the means of each factor in a factorial design?
> What is the difference between the one-way ANOVA F test and the Levene test?
> When and how should you use multiple comparison procedures for evaluating pairwise combinations of the group means?
> What is the difference between sampling error and measurement error?
> Panera Bread is a restaurant chain that features gourmet casual breakfast, lunch, and brunch, a growing niche in the restaurant industry. Suppose that the mean per-person check for breakfast at Panera Bread is approximately $9.50. a. Assuming a standard
> What is the difference between unstacked and stacked variables?
> The Super Bowl is a big viewing event watched by close to 200 million Americans that is also a big event for advertisers. The file Super Bowl Ad Ratings contains the rating of ads that ran between the opening kickoff and the final whistle. Source: Data e
> Under what conditions should you use the one-way ANO VA F test to examine possible differences among the means of c independent populations?
> What is your decision in Problem 9.4 if ZSTAT = - 2.81? Data from Problem 9.4: If you use a 0.0 l level of significance in a two-tail hypothesis test, what is your decision rule for rejecting H0: µ, = 12.5 if you use the Z test?
> Do upload and download speeds vary between cities and Internet service providers? The file Internet Provider Speeds contains the upload and download speeds in Mbps in 40 different cities for four Internet service providers, AT&T, T-Mobile, Sprint, and Ve
> What is the difference between an interval scaled variable and a ratio scaled variable?
> What is the difference between a nominal scaled variable and an ordinal scaled variable?
> What is the difference between a discrete numerical variable and a continuous numerical variable?
> A freshly brewed shot of espresso has three distinct components: the heart, body, and crema. The separation of these three components typically lasts only 10 to 20 seconds. To use the espresso shot in making a latte, a cappuccino, or another drink, the s
> A mail-order catalog business that sells personal computer supplies, software, and hardware maintains a centralized ware house for the distribution of products ordered. Management is currently examining the process of distribution from the warehouse and
> What is the relationship between the price of crude oil and the price you pay at the pump for gasoline? The file Oil & Gasoline contains the price ($) for a barrel of crude oil (Cushing, Oklahoma, spot price) and a gallon of gasoline (U.S. average conven
> How does conditional probability relate to the concept of independence?
> What is the difference between mutually exclusive events and collectively exhaustive events?
> How can you use the general addition rule to find the probability of occurrence of event A or B?
> A survey of 1,520 American adults asked, "Do you feel overloaded with too much information?" The results indicate that 134 of 304 females feel information overload compared to 651 of 1,216 males. Source: Data extracted from " Information Overload," bit.l
> The file CD Rates contains the yields for a one-year certificate of deposit (CD) and a five-year CD for 46 banks listed for West Palm Beach, Florida on April 5, 2019. Source: Data extracted from www.Bankrate.com, April 5, 2019. For each type of investmen
> The Super Bowl is a big viewing event watched by close to 200 million Americans, so it is also a big event for advertisers. The file Super Bowl Ad Ratings contains the rating of ads that ran between the opening kick-off and the final whistle. Source: Dat
> Profitability remains a challenge for banks and thrifts with less than $2 billion of assets. The business problem facing a bank analyst relates to the factors that affect return on average assets (ROAA), an indicator of how profitable a company is relati
> What are the differences between a priori probability, empirical probability, and subjective probability?
> An Ipsos poll asked 1,004 adults, "If purchasing a used car made certain upgrades or features more affordable, what would be your preferred luxury upgrade?" The results indicated that 9% of males and 14% of females answered window tinting. Source: lpsos,
> If X = 85, σ = 8, and n = 64, construct a 95% confidence interval estimate for the population mean, µ.
> Consider the following payoff table: For this problem, P(E1) = 0.8, P(E2) = 0.1, P(E3) = 0.1, P (FI £ 1) = 0.2, P (FI £ 2) = 0.4, and P (FI £ 3) = 0.4. Suppose you are informed that event F occurs. a. Revise the pro
> Are gasoline prices higher during the height of the summer vacation season than at other times? The file Gas Prices contains the mean monthly prices (in $/gallon) for unleaded gasoline in the United States from January 2006 to July. Source: Data extracte
> The data in Target are quarterly revenues (in $millions) for Target from 2000-Q l through 2019-QI. Source: Data extracted from ycharts.com/companies/TGT/revenues. a. Do you think that the revenues for Target are subject to seasonal variation? Explain. b.
