Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 1.5, Problem 45E
Sales revenue totals (in dollars) by day of the week are contained in the data file Stordata. Prepare a cross table that contains the days of the week as rows and the four sales quartile intervals as columns.
- a. Compute the row percentages.
- b. What are the major differences in sales level by day of the week as indicated by the row percentages?
- c. Describe the expected sales volume patterns over the week based on this table.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Enrollment at a community college over the last 4 years is: 1,800 (year 1), 2,300 (year 2), 3,000 (year 3), and 3,700 (year 4). Show the data on a bar graph. Let each horizontal increment represent 500 students.
The outside temperature can be estimated based on how fast crickets chirp.
At 104 chirps per minute, the temperature is 63 °F.
At 176 chirps per minute, the temperature is 81 °F.
Using this information, you can make a formula that relates chirp rate to temperature. Assume the relationship is linear, that is
the points form a straight line when plotted on a graph.
What is the temperature if you hear 128 chirps per minute?
°F
What is the temperature if you hear 72 chirps per minute?
°F
Suppose the relationship between the government's tax revenue (T) and national income (Y) is represented by the equation T = 30 +0.5Y. Plot this relationship on a scale diagram, with Y on the horizontal axis and T on the vertical axis. Interpret the equation.
Use the line drawing tool to draw the equation. Make sure to plot the vertical axis as one endpoint of the line. Properly label this line.
Carefully follow the instructions above, and only draw the required objects.
Chapter 1 Solutions
Statistics for Business and Economics
Ch. 1.2 - Prob. 1ECh. 1.2 - Prob. 2ECh. 1.2 - Prob. 3ECh. 1.2 - Prob. 4ECh. 1.2 - Prob. 5ECh. 1.2 - Prob. 6ECh. 1.2 - Prob. 7ECh. 1.2 - Prob. 8ECh. 1.3 - Prob. 9ECh. 1.3 - Prob. 10E
Ch. 1.3 - Prob. 11ECh. 1.3 - Prob. 12ECh. 1.3 - Prob. 13ECh. 1.3 - Prob. 14ECh. 1.3 - Prob. 15ECh. 1.3 - Prob. 16ECh. 1.3 - Prob. 17ECh. 1.3 - Prob. 18ECh. 1.3 - Prob. 19ECh. 1.4 - Prob. 20ECh. 1.4 - Prob. 21ECh. 1.4 - Prob. 22ECh. 1.4 - Prob. 23ECh. 1.4 - Prob. 24ECh. 1.4 - Prob. 25ECh. 1.4 - Prob. 26ECh. 1.4 - Prob. 27ECh. 1.4 - Prob. 28ECh. 1.4 - Prob. 29ECh. 1.5 - Prob. 30ECh. 1.5 - Prob. 31ECh. 1.5 - Prob. 32ECh. 1.5 - Prob. 33ECh. 1.5 - Prob. 34ECh. 1.5 - Prob. 35ECh. 1.5 - Prob. 36ECh. 1.5 - Prob. 37ECh. 1.5 - Prob. 38ECh. 1.5 - Prob. 39ECh. 1.5 - Prob. 40ECh. 1.5 - Prob. 41ECh. 1.5 - Prob. 42ECh. 1.5 - Prob. 43ECh. 1.5 - Prob. 44ECh. 1.5 - Sales revenue totals (in dollars) by day of the...Ch. 1.5 - Prob. 46ECh. 1.6 - Prob. 47ECh. 1.6 - Prob. 48ECh. 1.6 - Prob. 49ECh. 1.6 - Prob. 50ECh. 1 - Prob. 51ECh. 1 - Prob. 52ECh. 1 - Prob. 53ECh. 1 - Prob. 54ECh. 1 - Prob. 55ECh. 1 - Prob. 56ECh. 1 - Prob. 57ECh. 1 - Prob. 58ECh. 1 - Prob. 59ECh. 1 - Prob. 60ECh. 1 - Prob. 61ECh. 1 - Prob. 62ECh. 1 - Prob. 63ECh. 1 - Prob. 64ECh. 1 - Prob. 65ECh. 1 - Prob. 66ECh. 1 - Prob. 67ECh. 1 - Prob. 68ECh. 1 - Prob. 69ECh. 1 - Prob. 71ECh. 1 - Prob. 72ECh. 1 - Prob. 73ECh. 1 - Prob. 74E
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- The graph shows a relationship between two variables, x and y. What is the slope of the relationship at point A? >>> The graph will plot data needed to answer this question. The slope of the relationship at point A is >>>If the slope is negative, use a minus sign. If the slope is positive, do not use a plus sign 80- 70- 00- 50- 40 304 20 10- y 30 >>> Click on the graph to work out the answer Time Remaining: 01:00:48 Carrow_forwardPlease show the formula used and step by step calculationsarrow_forwardQI: A college student has purchased some shares in a company so that the profits are according to the year as in the following table; Year 1997 1999 2001 2002 Profits 43 65 159 248 Use third order Lagrange interpolation to calculate the profit in the year 2000.arrow_forward
- Ypsilanti Market Research conducted a survey to find out whether people who earn more money purchase more expensive goods. The following graph indicates the relationship between income the survey subjects earned and the price of the car that they purchased. The variable shown on the vertical axis is __________ (options: thousands of dollars per car, thousands of dollars per year, income, thousands of dollars, price, number of goods). The units for the variable on the horizontal axis are _________ (options: thousands of dollars per car, thousands of dollars per year, income, thousands of dollars, price, number of goods). There are two ways to view the information presented on the graph. First, the graph tells us the amount a person with a certain income is likely to spend on a car, and second, it tells us the probable income of a person who spent a certain amount on a car. For example, if an individual earned $50,000 last year and purchased a new car, you would expect that person to…arrow_forwardCalculate the percentage change of the variable in each of the following cases. Then calculate the percentage change if the movement is occurring in the opposite direction, with what was the final value now the initial value and vice versa. Now calculate a comparable percentage change using the average of the initial and ending values. Express all three changes in absolute value form without positive or negative signs and as whole numbers (i.e. 67%, not 66.6%). a. A fast-food restaurant, which originally sold hamburgers at a price of $5, increases their price to $6. The absolute value of this percentage change is %, and the absolute value of the percentage change calculated using the average of the two values is %, the absolute value of the percentage change in the opposite direction is %. b. The number of autos sold monthly at a car dealership drops from 400 to 300. The absolute value of this percentage change is %, the absolute value of the percentage change in the opposite direction…arrow_forwardCalculate the percentage change of the variable in each of the following cases. Then calculate the percentage change if the movement is occurring in the opposite direction, with what was the final value now the initial value and vice versa. Now calculate a comparable percentage change using the average of the initial and ending values. Express all three changes in absolute value form without positive or negative signs and as whole numbers (i.e. 67%, not 66.6%). a. A fast-food restaurant, which originally sold hamburgers at a price of $1, increases their price to $2. The absolute value of this percentage change is %, and the absolute value of the percentage change calculated using the average of the two values is 0.5 %, the absolute value of the percentage change in the opposite direction is | %. b. The number of autos sold monthly at a car dealership drops from 150 to 50. The absolute value of this percentage change is %, and the absolute value of the percentage change calculated using…arrow_forward
- Using equations (1) and (2), sketch the demand and supply diagram and indicate your results from parts (a) – (d). Correctly label thediagram.arrow_forward(Ch7) If the mean time between in-flight aircraft engine shutdowns is 12,500 operating hours, what is the 90 percentile on the distribution of the number of hours until the next shutdown? (hint: convert the mean time between events to the mean events per hour λ, then apply inverse exponential) Question 7Select one: a. 20,180 hours b. 18,724 hours c. 23,733 hours d. 28,782 hoursarrow_forwardYear Quarter Revenue Q1 4.80 Q2 4.56 2015 Q3 4.88 Q4 4.91 Q1 5.37 Q2 4.99 2016 Q3 5.24 Q4 5.71 Q1 5.73 Q2 5.29 2017 Q3 5.66 Q4 5.70 Q1 6.07 Q2 6.03 2018 Q3 6.31 Q4 6.30 Q1 6.60 Q2 6.31 2019 Q3 6.82 Q4 6.75 Q1 7.10 Q2 6.00 2020 Q3 4.20 Q4 6.20arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Managerial Economics: Applications, Strategies an...EconomicsISBN:9781305506381Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. HarrisPublisher:Cengage Learning
Managerial Economics: Applications, Strategies an...
Economics
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:Cengage Learning
Forecasting: Exponential Smoothing, MSE; Author: Joshua Emmanuel;https://www.youtube.com/watch?v=k_HN0wOKDd0;License: Standard Youtube License