Solution Manual for Business Statistics 2nd Edition by Jaggia
Chapter 1. Statistics and Data
Solutions

 The population is all iPhone 4 users.
 Sample statistics
 The value 35 is the estimated average age of the population. It is both costly and time consuming (likely impossible) to take a census of all video game players and compute the actual average age.

 The population is all students enrolled in the accounting class.
 The value 3.29 represents the population parameter since we are not choosing a sample but drawing results from the actual population.

 The population is all marketing managers.
 No, the average salary is a sample statistic computed from a sample, not the population.

 The population is all elderly people. The sample consists of 949 elderly people.
 22% and 17% represent the sample statistics.
Date  Adj. Close Price 
Dec 10  $593.97 
Nov 10  $555.71 
Oct 10  $613.70 
SepÂ 10  $525.79 
Aug 10  $450.02 
JulÂ Â 10  $484.85 
JunÂ 10  $444.95 
May 10  $485.63 
AprÂ 10  $525.70 
Mar 10  $567.12 
FebÂ 10  $526.80 
JanÂ 10  $529.94 
Source: Monthly Adj Close Price in 2010 from
Retrieved April 19, 2011.
These numbers represent time series data. The adjusted close price of the stock was rather volatile, with a 12month high in October and 12month low in June.
 Note: Individual answers will vary. This is an example of what an answer may look like.
Accommodation  Monthly Expenses 
Dorm  $435 
Dorm  $480 
Rental  $505 
Other  $50 
Rental  $600 
Dorm  $425 
Rental  $525 
Other  $550 
Other  $325 
Dorm  $385 
Rental  $475 
Dorm  $400 
Dorm  $485 
Rental  $485 
Other  $475 
Dorm  $425 
Rental  $500 
Dorm  $375 
Rental  $625 
Other  $350 
This data is crosssectional data because it can be assumed to be taken at the same point in time. The monthly lodging expenses ranges from a low of $50 to a high of $625. The average expense is $443.75.