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BUS 603

Homework Assignment 1: Chapter 1

CHAPTER 1  2  3  6  7  8  13  18; for part (a), you may interpret that the question is asking you to provide a numeric value  19 (a-d) only  21 SOLUTIONS

2. a. The ten elements are the ten cars b. 5 variables: Size, Cylinders, City MPG, Highway MPG, and Fuel c. Categorical variables: Size and Fuel Quantitative variables: Cylinders, City MPG, and Highway MPG d. Variable Size Cylinders City MPG Highway MPG Fuel 3. Measurement Scale Ordinal Ratio Ratio Ratio Nominal

a. Average mpg for city driving = 182/10 = 18.2 mpg b. Average mpg for highway driving = 261/10 = 26.1 mpg On average, the miles per gallon for highway driving is 26.1 – 18.2 = 7.9 mpg greater compared to city driving. c. 3 of 10 or 30% have four cylinder engines d. 6 of 10 or 60% use regular fuel

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a. Quantitative b. Categorical c. Categorical

d. Quantitative e. Categorical 7. a. Although the data are recorded as numbers, the numbers are codes for the ratings of Fair (1), Average (2), Good (3) and Excellent (4). Thus the variables are categorical with each data value corresponding to a rating category for the variable. b. The data may also be ranked in order of the quality. A higher number indicates a higher rating on a scale from Fair (1) to Excellent (4). Since the data can be ranked or ordered, the scale of measurement is ordinal. 8. a. 1015 b. Categorical c. Percentages d. .10(1015) = 101.5 101 or 102 respondents said the Federal Bank is doing a good job. 13. a. Federal spending measured in trillions of dollars b. Quantitative c. Time series d. Federal spending has increased over time 18. a. 684/1021; or approximately 67% b. 612 c. Categorical 19. a. All subscribers of Business Week in North America at the time the survey was conducted. b. Quantitative

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c. Categorical (yes or no) d. Crossectional - all the data relate to the same time. 21. a. The two populations are the population of women whose mothers took the drug DES...