Statistics for Economics, Accounting and Business Studies 5th. Edition by Michael Barrow | 9780273717942 | 0273717944 | Holooly

Accounting for Business

Statistics for Economics, Accounting and Business Studies

204 SOLVED PROBLEMS

Question: 6.1

Given a sample of size n = 51 yielding a sample variance s² = 81, we may calculate the 95% confidence interval for the population variance as follows. ...

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Since we are using the 95% confidence level the cr...

Question: 1.PR.15

Using the data from Problem 1.13: (a) Calculate the average rate of growth of the series. (b) Calculate the standard deviation around the average growth rate. (c) Does the series appear to be more or less volatile than the investment figures used in the chapter? Suggest reasons. ...

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(a) 1.81% p.a. (but 4.88% p.a. between 1975 and 19...

Question: 1.PR.5

The distribution of marketable wealth in 1979 in the UK is shown in the table below (taken from Inland Revenue Statistics, 1981, p. 105):Draw a bar chart and histogram of the data (assume the final class interval has a width of 200 000). Comment on the differences between the two. Comment on any ...

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The difference between bar chart and histogram sho...

Question: 1.PR.9

A motorist keeps a record of petrol purchases on a long journey, as follows: Calculate the average petrol price for the journey. ...

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57.62 pence/litre.

Question: 1.PR.11

On a test taken by 100 students, the average mark is 65, with variance 144. Student A scores 83, student B scores 47. (a) Calculate the z-scores for these two students. (b) What is the maximum number of students with a score either better than A’s or worse than B’s? (c) What is the maximum ...

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(a) z = 1.5 and −1.5 respectively. (b) Using Cheby...

Question: 1.EX.1

The following table shows the total numbers (in millions) of tourists visiting each country and the numbers of English tourists visiting each country:(a) Draw a bar chart showing the total numbers visiting each country.(b) Draw a stacked bar chart, which shows English and non-English tourists ...

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Question: 1.EX.2

Given the following data:(a) Draw both a bar chart and a histogram of the data and compare them.(b) Calculate cumulative frequencies and draw a cumulative frequency diagram. ...

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Question: 1.EX.4

(a) For the data in Exercise 2, calculate the inter-quartile range, the variance and the standard deviation. (b) Calculate the coefficient of variation. (c) Check if the relationship between the IQR and the standard deviation stated in the text is approximately true for this distribution. ...

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(a) Q1 relates to observation 27.5 (= 110/4). Thi...

Question: 1.EX.6

(a) Using the data in Exercise 1.5, calculate the average level of profit over the time period and the average growth rate of profit over the period. Which appears more useful? (b) Calculate the variance of profit and compare it to the variance of sales. ...

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(a) The average profit is 35. The average rate o...

Question: 1.EX.7

(a) Once again using the data from Exercise 1.5, draw an XY chart with profits on the vertical axis, sales on the horizontal axis. Choose the scale of the axes appropriately. (b) (If using Excel to produce graphs) Right click on the graph, choose ‘Add trendline’ and choose a linear trend. This ...

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