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# Solution Manual for Business Statistics 2nd Edition by Jaggia

Edition: 2nd Edition

Format: Downloadable ZIP Fille

Resource Type: Solution manual

Duration: Unlimited downloads

Delivery: Instant Download

\$18.00

## Solution Manual for Business Statistics 2nd Edition by Jaggia

Chapter 1. Statistics and Data

Solutions

1. The population is all iPhone 4 users.
2. Sample statistics

1. 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.

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

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

1. The population is all elderly people. The sample consists of 949 elderly people.
2. 22% and 17% represent the sample statistics.

 Date Adj. Close Price Dec 10 \$593.97 Nov 10 \$555.71 Oct 10 \$613.70 Sep  10 \$525.79 Aug 10 \$450.02 Jul   10 \$484.85 Jun  10 \$444.95 May 10 \$485.63 Apr  10 \$525.70 Mar 10 \$567.12 Feb  10 \$526.80 Jan  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 12-month high in October and 12-month low in June.

1. 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 cross-sectional 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.

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