The Fundamentals of Statistics in Business

Statistics in Business & The Fundamentals of Statistics

Statistics in Business

I work 48 hours per week

The 40-hour workweek is the average number of hours that many people work per week in the United States. However, the Java professionals work more than 40 hours a week.

The information in the chart does not make the Java professional to be attractive because increasing number of well-paid professionals work more than 50 hours a week.

To explain difference between a population and a sample, I will use a motorcar as an example. I will define the population as the collection of entire motorcars owned by all teachers in his school. However, a sample is the subset of the population. An example of a sample is the cars owned by the mathematics teachers in his school.

I will tell him that surveying all member of the population is time consuming and not cost effective. However, the findings from a sample method can be applied to the entire population. Thus, a sample is less time consuming and it is a cost effective way to carry out a survey.

Problem 1.30

It is not true for a coin coffee operated vending machine filling the 6.oz cup of coffee to dispense a half cup of 4. Oz. because the machine is being program to fill 6.oz cup of coffee. Thus, is not program to fill 4.0z cup of coffee.

Problem 1.48

The election board's voter registration is different from the adult's population census because the board's voter registration has some requirements that must be fulfilled. For example, to qualify for the election board's voter registration, a person must be a U.S. citizen, and at least 16 of age. Other requirement considered is that the person must not be convicted to selling or buying votes. However, the adult's population census does not follow all these requirement. The adult's population census involves counting of all adult people irrespective of his or her background.

Problem 1.50

The computers have increased the usefulness of statistics within the professional environment because it assists researchers, government workers or statistical consultants to analyze data with statistical software such SSPS, and STATA rapidly and deliver accurate results. Without the use of the computers, the researchers or government workers would have face challenges to analyze large number of data manually.

Unit 2: Fundamentals of Statistics

Problem 2.2

Survey Sample

Cleaning Shower/Tube

Cleaning Toilet

Cleaning Refrigerator

Dusting

Others

Mopping Floor

91

Total

a. A total of 1,008 women were surveyed.

b. 151/1008*100

=0.1498 *100

=14.98

Approximately 15%

c. The paper arrives at 80% for the cumulative % for dusting by summing up 26%, 25%, 15% and 14%. The results of the sum are 26%+25%+15%+14% =80%.

d. The three tasks are Cleaning Shower/tub, Cleaning toilet, and Cleaning refrigerator.

Problem 2.8

Annual Salary ($1,000s)

15-25

25-35

35-45

45-55

55-65

No of Managers

12

37

26

19

6

a. The data 35 belongs to the classes 25-35 and 35-45.

b. The meaning of 35-45 refers to the frequency of the number that are between 35 and 45.

c. The Class width refers to the value of the low class boundary as well as the upper class boundary. The values of lower class boundary are 15,25,35,45 and 55. The upper class boundary are 25,35,45,55, and 65. The method to determine the class width is by determining the class and frequency of a group of number. Moreover, the class width can be determined through frequency table. The class width can also be determined by drawing the histogram.