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1.6 Consider the five homes in Table 1.1 (page 3). What do you think you would

have to pay for a Diamond model on a lake lot? For a Ruby model on a lake lot?

1.13 THE BANK CUSTOMER WAITING TIME CASE (please refer to page

19 from the e-book)

A bank manager has developed a new system to reduce the time customers spend

waiting to be served by tellers during peak business hours. Typical waiting times

during peak business hours under the current system are roughly 9 to 10 minutes.

The bank manager hopes that the new system will lower typical waiting times to

less than six minutes and wishes to evaluate the new system. When the new system

is operating consistently over time, the bank manager decides to select a sample of

100 customers that need teller service during peak business hours. Specifically, for

each of 100 peak business hours, the first customer that starts waiting for teller

service at or after a randomly selected time during the hour will be chosen. In

Exercise 7.5 (see page 271) we will discuss how to obtain a randomly selected time

during an hour. When each customer is chosen, the number of minutes the

customer spends waiting for teller service is recorded. The 100 waiting times that

are observed are given in Table 1.8. Using the data, estimate limits between which

the waiting times of most of the customers arriving during peak business hours

would be. Also, estimate the proportion of waiting times of customers arriving

during peak business hours that are less than six minutes.

1.18 (please Refer to page 21 from e-book)

Classify each of the following qualitative variables as ordinal or nominative.

Explain your answers. Qualitative Variable Personal computer operating system

Motion picture classifications Level of education Rankingsofthetop10college

football teams Exchange on which a stock is traded Zip code Categories DOS

Windows XP Windows Vista Windows 7 G PG PG-13 R NC-17 X Elementary

Middle school High school College Graduate school 1 2 3 4 5 6 7 8 9 10 AMEX

NYSE NASDAQ Other 45056 90015 etc.

2.67 (please refer to page 81 from e-book)

Develop a frequency distribution of the overall mechanical quality ratings.

Describe the distribution.

2.71 (please refer to page 81 from e-book)

Construct a contingency table of automobile origin versus overall mechanical

quality rating. Set up rows corresponding to the United States, the Pacific Rim

(Japan/Korea), and Europe (Germany/Great Britain/Sweden), and set up columns

corresponding to the ratings “among the best” through “the rest.” Describe any

apparent relationship between origin and overall mechanical quality rating.

2.83 (please refer to page 84 from e-book)

Figure 2.38 was used in various Chevrolet magazine advertisements in 1997 to

compare the overall resale values of Chevrolet, Dodge, and Ford trucks in the years

from 1990 to 1997. What is somewhat misleading about this graph?

3.55 (Please refer to page 146 from e-book)

Figure 3.25 gives five-number summaries comparing the base yearly salaries of

employees in marketing and employees in research for a large company. Interpret

these summaries.

3.59 (please refer to page 150 from e-book)

Internet Exercise

The Data and Story Library (DASL) houses a rich collection of data sets useful for

teaching and learning statistics, from a variety of sources, contributed primarily by

univer- sity faculty members. DASL can be reached through the BSC by clicking

on the Data Bases button in the BSC home screen and by then clicking on the Data

and Story Library link. The DASL can also be reached directly using the url

http://lib.stat.cmu.edu/DASL /. The objective of this exer- cise is to retrieve a data

set of chief executive officer salaries and to construct selected graphical and

numerical statistical summaries of the data. a From the McGraw-Hill/Irwin

Business Statistics Center Data Bases page, go to the DASL website and select

“List all topics.” From the Stories by Topic page, se- lect Economics, then CEO

Salaries to reach the CEO Salaries story. From the CEO Salaries story page, select

the Datafile Name: CEO Salaries to reach the Descriptive Statistics: Numerical

Methods data set page. The data set includes the ages and salaries (save for a single

missing observation) for a sample of 60 CEOs. Capture these observations and

copy them into an Excel or MINITAB worksheet. This data capture can be

accomplished in a number of ways. One simple approach is to use simple copy and

paste procedures from the DASL data set to Excel or MINITAB (data sets

CEOSal.xlsx, CEOSal.MTW). b Use your choice of statistical software to create

graph- ical and numerical summaries of the CEO Salaries data and use these

summaries to describe the data. In Excel, create a histogram of salaries and

generate de- scriptive statistics. In MINITAB, create a histogram, stem-and-leaf

display, box plot, and descriptive statis- tics. Offer your observations about typical

salary level, the variation in salaries, and the shape of the distribu- tion of CEO

salaries.

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