Business Statistics Chapter 1-2 Sample Questions

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Business Statistics – Chapter 1-2 – Qestion Answers


Categorical Variables are qualitative and can only be placed into categories, whilst numerical variables are quantitive and represented with values.


From the URL, I chose weather topic -> US Temperatures Story. ( The story analyses the average January temperatures seen in major cities of United States. Continous numerical variables are used for temperature measurement. Regression, Partial Regression Plot, Polynomial Regression and Smoothing are the statistical methods used in the story


The Answer is derived from the article

a) Adults, aged 18 and older, living in 50 U.S States and District of Columbia

b) Random Sample of 250,187 Adults using random-digit dial sampling

c) Depression, negative emotions, high level of stress, worry, anger, sadness

d) Percentage analysis for the interests in parameter (c) by weigting different samples like age, race, ethnicity, education, religion, adults in the hausehold etc...


According to the GradSurvey.xls file

a) Categorical variables are Gender(1), Major(4), Undergraduate Specialization(6), Employment Status(9), Satisfaction Advisement(13)

b) Numerical Variables are all of the other field then Categorical Variables defined above

c) Discrete Numerical Variables are Age(2), Height(3),GMAT(8),Number of Jobs(10),Expected Salary(11), Anticipated Salary(12), Spending(14)



Bar Chart For Plasma TV Pie Chart For Plasma TV

Pareto Chart for Plasma TV Bar Chart for LCD TV

Pie Chart for Plasma TV Pareto Chart for Plasma TV

b) Based on the results, In plasma TV Market, Panasonic is leading the market with %26 market share, whilst second vendor is 10 points behind them. On the other hand in LCD TV Market, shares are approximately equal and we can...