Solution Manual for Business Statistics 2nd Edition by Jaggia
Chapter 1. Statistics and Data
- 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|
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.
- Note: Individual answers will vary. This is an example of what an answer may look like.
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.