Applied Statistics in Business and Economics 4E doane 第一章答案
西方经济学作业1参考答案(第一章至第五章)
西方经济学作业1参考答案（第一章至第五章）一．填空题1、资源配置2、决策机制，协调机制3、资源配置，资源利用4、价值判断5、反，同6、替代，收入7、供给量，供给8、同9、价格10、富有，缺乏11、互补12、富有13、消费者14、边际效用，无差异曲线15、消费者均衡16、消费者剩余17、投入的生产要素与产量，成本与收益18、机会主义行为19、边际产量递减20、平均产量21、收益递增22、扩张二．选择题1、D2、D3、A4、C5、C6、C7、A8、C9、B 10、D11、B 12、C 13、D 14、B 15、B三．判断题1、√2、√3、×4、×5、√6、×7、×8、×9、√10、×11、√12、√13、×14、√15、×四．计算题1．解：根据均衡价格的决定，有D=S，即350-3P=-250+5P求得P=75当均衡价格为75时，则均衡数量：D=S=350-3P=1252．解：已知P1=1.2，Q1=800，Ed=2.4，ΔP/P=25%得TR1=P1×Q1=12×800=960元又P2=P1×（1-25%）=0.9元ΔQ/Q = Ed×（ΔP/P）=60% 则Q2=Q1×（1+60%）=1280公斤得TR2=P2×Q2=0.9×1280=1152元TR2- TR1=1152-960=192元答：该商品价格下降25%之后，总收益增加了192元。
3．解：已知Px=10元，Py=20元，M=100元根据消费者均衡条件Mux/Px=Muy/ Py (1)Px×X + Py×Y=M (2)把已知条件代入，则有Mux/Muy=1/2（1）10X+20Y=100（2）从已知表格中可知，符合条件（1）的商品X、Y的组合有：X=1，Y=1 X=4，Y=3 X=7，Y=5实现消费者均衡，同时要符合条件（2），则符合条件的商品X、Y组合只有X=4，Y=3五．问答题1．答：观点一：放开票价由市场决定。
宏观经济学（格伦哈伯德,安东尼奥布莱恩）第一章课后习题答案
宏观经济学（格伦哈伯德,安东尼奥布莱恩）第一章课后习题答案Chapter 11.当年主产的中间产品和服务的价值不计入GDP。
2. a.面包店购买农场主的小麦，不是对最终产品的购买。
b.联邦政府购买航空母舰，是对最终产品的购买。
c.美国消费者购买法国红酒，是对最终产品的购买。
d.美国航空公司购买新飞机，不是对最终产品的购买。
3.我不同意以下说法，因为经济学家所谓的投资，是对机器，工厂和房产的购买，并不包含一般人们所谓的购买股票的投资，因为它们不会产生新的产品和服务，只是产品所有权的转移，所以并不被计入GDP中。
4. a.消费 b.无影响，只是产品所有权的转移c.投资d.出口e.投资f.政府购买5.其价值不再被计入GDP，因为这只是产品所有权的转移，其作为最终产品的消费已经被计入当年的GDP中，这里不再重复计算。
应该计入，因为劳动者提供劳动力生产要素，形成的最终产品即服务被消费掉，劳动者也获得报酬，所以应当计入当年GDP。
6.由于美国消费者长期以来的消费，都是以减少储蓄和增加借贷来维持，由于房价上升和股价上涨，许多居民以房产为抵押向银行获得贷款，当房价下跌股价下滑时，居民财富缩水，难以维持贷款，负债增加，于是便减少支出增加储蓄，所以消费水平会下降，因此美国和外国公司在未来对美国消费者的依赖程度会下降。
7.名义GDP=100*60+100*2+50*25=74508.企业的生产要素由土地，劳动力，资本和企业家才能四个部分组成，除去对劳动力成本的工资支付，剩下的支付都是企业获得利润的来源。
9.这些国有企业没有形成增加值，在自由市场经济中也无法生存，因为企业没有获利来源。
10.艺术家实现的总增加值为：10*800-5000=3000美元当地艺术商店实现的增加值为：1000*10-8000=2000美元11. a.走出家庭外出工作的女性比例增加会使GDP水平增加b.犯罪率增加会使GDP水平减少，因为减少劳动力数量c.高额税赋导致隐匿收入所得会使GDP水平减少，会影响实际统计12.如果工人之前从事家政服务类工作，当这些工人失业，并把劳动力投入到家务劳动中时，增加的家务劳动本该计入GDP中，但由于失业未被计入，经济中总产出水平下降；如果工人之前从事非相关工作，而失业后增加家务劳动时，增加的家务劳动不被包括在GDP中。
第一章_贝叶斯课后答案
第一章 先验分布与后验分布1.1 解：令120.1,0.2θθ==设A 为从产品中随机取出8个，有2个不合格，则22618()0.10.90.1488P A C θ==22628()0.20.80.2936P A C θ==从而有1111122()()()0.4582()()()()P A A P A P A θπθπθθπθθπθ==+2221122()()()0.5418()()()()P A A P A P A θπθπθθπθθπθ==+1.2 解：令121, 1.5λλ==设X 为一卷磁带上的缺陷数，则()X P λ∴3(3)3!e P X λλλ-==1122(3)(3)()(3)()0.0998P X P X P X λπλλπλ∴===+==从而有111222(3)()(3)0.2457(3)(3)()(3)0.7543(3)P X X P X P X X P X λπλπλλπλπλ==========1.3 解：设A 为从产品中随机取出8个，有3个不合格，则3358()(1)P A C θθθ=-（1） 由题意知 ()1,01πθθ=<< 从而有 351()()()504(1),01()()P A A P A d θπθπθθθθθπθθ==-<<⎰（2）361()()()47040(1),01()()P A A P A d θπθπθθθθθπθθ==-<<⎰1.5 解：由已知可得 ()1,0.50.5P x x θθθ=-<<+1(),102010πθθ=<< 11.611.51()0.0110m x d θ==⎰从而有()()()10,11.511.6()P x x m x θπθπθθ==<<1.6 证明：设随机变量()X P λ ，λ的先验分布为(,)Ga αβ，其中,αβ为已知，则 (),0!x e P x x λλλλ-=> 1(),0()e ααβλβπλλλα--=>Γ因此 11(1)()()()x x x P x e e e λαβλαβλπλλπλλλλ---+--+∝∙∝= 所以 (,1)x G a x λαβ++ 1.7 解：（1）由题意可知 ()1,01πθθ=<< 因此122()12(1)xxm x d x θθ=∙=-⎰因此 2()()1(),1()1P x x x x m x x θπθπθθθ==<<- （2） 由题意可知 12202()36xm x d x θθθ=∙=⎰因此 ()()()1,01()P x x m x θπθπθθ==<<1.8 解：设A 为100个产品中3个不合格，则3397100()(1)P A C θθθ=-由题意可知 199(202)()(1),01(200)πθθθθΓ=-≤≤Γ 因此 3971994296()()()(1)(1)(1)A P A πθθπθθθθθθθ∝∙∝--=- 由上可知 (5,297)A Be θ1.9 解：设X 为某集团中人的高度，则2(,5)X N θ∴25(,)10X N θ∴2(176.53)5()p x θθ--= 由题意可知2(172.72)5.08()θπθ--=又由于X 是θ的充分统计量，从而有()()()()x x p x πθπθθπθ=∝∙222(176.53)(172.72)(174.64)55.0821.26eeeθθθ------⨯∝∙∝因此 (174.64,1.26)x N θ1.10 证明：设22(,),,N u u θσσ 其中为已知 又由于X 是θ的充分统计量，从而有()()()()x x p x πθπθθπθ=∝∙222222251()()1252()11225252u x x u eeeσθθθσσσ+----+⨯--⨯+⨯∝∝因此 222251(,)112525u x x N σθσσ+++又由于21112525σ≤+ 所以 θ的后验标准差一定小于151.11 解：设X 为某人每天早上在车站等候公共汽车的时间，则(0,)X U θ∴1(),0p x x θθθ=<<当8θ>时，31()p x θθ=43819211()8192m x d θθθ+∞==⎰从而有 7()()3()()128p x x m x θπθπθθ==1.12 证明：由题意可知 1(),0,1,2,...,i np x x i n θθθ=<<=从而有 ()()()()x x p x πθπθθπθ∝∙00111n n n ααααθθθθθ++++∝∙∝ 因此 θ的后验分布仍是Pareto 分布。
微观经济学课后答案,关键字翻译
答案：1-4章由各班同学提供第一章1.需求：demand, 指消费者在某一特定时期内，对应于一定的商品价格所愿意并且能够购买的该商品的数量。
2.供给：supply, 指企业（生产者）在某一特定时期内，对应于一定的商品价格所愿意并且能够出售的该商品的数量。
3.需求曲线：the demand curve，是表示和反映商品需求量与价格之间的函数关系的曲线。
4.供给曲线：the supply curve，是表示和反映商品供给量与价格之间的函数关系的曲线。
5.需求规律：law of demand，指需求量与价格呈反方向变动，即商品价格上升，需求量减少；商品价格下降，需求量增加。
6.供给规律：law of supply，指供给量与价格呈同方向变动，即商品价格上升，供给量增加；商品价格下降，供给量减少。
7.需求函数：demand function，表示某一特定期内市场上某种商品的各种可能需求和决定这些需求的因素之间的关系。
8.供给函数：supply function，表示某一特定时期内市场上某种商品的各种可能的供给和决定这些供给的因素之间的关系。
9.需求弹性：elasticity of demand，表示和衡量某一商品的需求量对它本身的价格变化的反应程度。
10.需求交叉弹性：cross-elasticity of demand，表示在影响某商品（X）需求的其他各种因素都给定不变的条件下，另一相关商品（Y）的价格（P Y）变动所引起的X的需求（Q X）的变动程度。
11.需求收入弹性：income elasticity of demand，就是用来衡量消费者收入的变动所引起的商品需求的变动程度。
12.供给弹性：elasticity of supply，表示和衡量价格变动所引起的商品供给量变动的程度大小。
13.点弹性：point elasticity，用来表示需求曲线上两点之间的价格变动量趋于无穷小时，所导致的需求量变动的程度。
S179大学高数1 第1章 - 答案
第1章引论一、名词解释[1]稀缺性（scarcity）[2]经济学（Economics）[3]生产要素（factors of production）[4]物品与劳务（Goods & Services）[5]劳动力（labor）[6]土地（land）[7]资本（capital）[8]物质资本（Physical Capital）[9]人力资本（human capital）[10]企业家才能（Entrepreneurship）[11]微观经济学（Microeconomics）[12]宏观经济学(Macroeconomics)[13]市场经济(market economy)[14]指令经济(command economy)[15]效率(Efficiency)[16]平等(Equality)[17]实证表述（positive statements）[18]规范表述（normative statements）[19]理性人（Rational people）[20]机会成本（Opportunity Cost）[21]循环流量图（Circular-Flow Diagram）二、问题[1]一个公司已经为某种产品开发投资30万元，市场形势的变化使得这一产品投放市场的预期收益为50万元，但是完成这一产品开发还需要投资40万元，那么这一公司是否应继续开发这一产品呢？答：继续开发的成本为40万元；继续开发的收益为50万元。
因此，应该继续开发。
[2]画一个包含家庭和企业的循环流量图。
说明下面活动发生在哪个市场上。
a)张同学在超市花3元钱买了一支铅笔。
b)李同学在理发店洗剪吹花了20元。
c)王同学在肯德基店打工赚了100元。
d)刘同学在某公司的股权赚到了20元。
e)老张把房子出租给餐厅去年收租金1000元。
物品与劳务市场：a,b生产要素市场：c,d,e[3]请把下列题目分别归入微观经济学或宏观经济学：a)某同学关于买衣服花多少钱的决策；b)高储蓄率对经济增长的影响；c)企业关于贷款多少用于生产的决策；d)失业率和通货膨胀之间的关系。
伍德里奇计量经济学第六版答案Chapter 1
CHAPTER 1TEACHING NOTESYou have substantial latitude about what to emphasize in Chapter 1. I find it useful to talk about the economics of crime example (Example 1.1) and the wage example (Example 1.2) so that students see, at the outset, that econometrics is linked to economic reasoning, even if the economics is not complicated theory.I like to familiarize students with the important data structures that empirical economists use, focusing primarily on cross-sectional and time series data sets, as these are what I cover in a first-semester course. It is probably a good idea to mention the growing importance of data sets that have both a cross-sectional and time dimension.I spend almost an entire lecture talking about the problems inherent in drawing causal inferences in the social sciences. I do this mostly through the agricultural yield, return to education, and crime examples.These examples also contrast experimental and nonexperimental (observational) data. Students studying business and finance tend to find the term structure of interest rates example more relevant, although the issue there is testing the implication of a simple theory, as opposed to inferring causality. I have found that spending time talking about these examples, in place of a formal review of probability and statistics, is more successful in teaching the students how econometrics can be used. (And, it is more enjoyable for the students and me.)I do not use counterfactual notation as in the modern “treatment effects” literature, but I do discuss causality using counterfactual reasoning. The return to education, perhaps focusing on the return to getting a college degree, is a good example of how counterfactual reasoning is easily incorporated into the discussion of causality.SOLUTIONS TO PROBLEMS1.1 (i) Ideally, we could randomly assign students to classes of different sizes. That is, each student is assigned a different class size without regard to any student characteristics such as ability and family background. For reasons we will see in Chapter 2, we would like substantial variation in class sizes (subject, of course, to ethical considerations and resource constraints).(ii) A negative correlation means that larger class size is associated with lower performance. We might find a negative correlation because larger class size actually hurts performance. However, with observational data, there are other reasons we might find a negative relationship. For example, children from more affluent families might be more likely to attend schools with smaller class sizes, and affluent children generally score better on standardized tests. Another possibility is that, within a school, a principal might assign the better students to smaller classes. Or, some parents might insist their children are in the smaller classes, and these same parents tend to be more involved in thei r children’s education.(iii) Given the potential for confounding factors – some of which are listed in (ii) – finding a negative correlation would not be strong evidence that smaller class sizes actually lead to better performance. Some way of controlling for the confounding factors is needed, and this is the subject of multiple regression analysis.1.2 (i) Here is one way to pose the question: If two firms, say A and B, are identical in all respects except that firm A supplies job training one hour per worker more than firm B, by how much would firm A’s output differ from firm B’s?(ii) Firms are likely to choose job training depending on the characteristics of workers. Some observed characteristics are years of schooling, years in the workforce, and experience in a particular job. Firms might even discriminate based on age, gender, or race. Perhaps firms choose to offer training to more or less able workers, where “ability” might be difficult to quantify but where a manager has some idea about the relative abilities of different employees. Moreover, different kinds of workers might be attracted to firms that offer more job training on average, and this might not be evident to employers.(iii) The amount of capital and technology available to workers would also affect output. So, two firms with exactly the same kinds of employees would generally have different outputs if they use different amounts of capital or technology. The quality of managers would also have an effect.(iv) No, unless the amount of training is randomly assigned. The many factors listed in parts (ii) and (iii) can contribute to finding a positive correlation between output and training even if job training does not improve worker productivity.1.3 It does not make sense to pose the question in terms of causality. Economists would assume that students choose a mix of studying and working (and other activities, such as attending class, leisure, and sleeping) based on rational behavior, such as maximizing utility subject to the constraint that there are only 168 hours in a week. We can then use statistical methods to。
第01章 国际经济(英文习题)
SINGLE CHOICE QUESTIONS（）1. A primary reason why nations conduct international trade is because:a. Some nations prefer to produce one thing while others produce other thingsb. Resources（资源）are not equally distributed（分配）among all trading nations（贸易国）c. Trade enhances opportunities to accumulate（积累）profitsd. Interest rates（利率）are not identical in all trading nations（）2. A main advantage of specialization（专业化）results from:a. Economies of large-scale productionb. The specializing country behaving as a monopoly（垄断者）c. Smaller production runs（运作）resulting in lower unit costsd. High wages paid to foreign workers（）3. International trade forces domestic firms to become more competitive in terms of:a. The introduction of new productsb. Product design and qualityc. Product priced. All of the above（）4.The movement to free international trade is most likely to generate short-term unemployment（失业）in which industries?a. Industries in which there are neither imports（进口）nor exports（出口）b. Import-competing industries（进口竞争行业）c. Industries that sell to domestic and foreign buyersd. Industries that sell to only foreign buyers（）5.How much physical output（实物产出） a worker produces in an hour’s work depends on:a. The worker’s motivation（动力）and skillb. The technology, plant, and equipment in usec. How easy the product is to manufactured. All of the above（）6.Increased foreign competition tends to:a. Intensify（加剧）inflationary pressures（通胀压力）at homeb. Induce（导致）falling output per worker-hour for domestic workersc. Place constraints（限制）on the wages of domestic workersd. Increase profits of domestic import-competing industries（进口竞争部门）（）7.A firm’s __________, relative to that of other firms, is generally regarded as the most important determinant（决定因素）of competitiveness（竞争力）.a. Income levelb. Tastes and preferences（偏好）c. Environmental regulation（环境管制）d. Productivity（生产效率）（）8.Free traders maintain（主张）that an open economy（开放经济）is advantageous in that it provides all of the following except:a. Increased competition for world producersb. A wider selection of products for consumersc. The utilization（利用）of the most efficient production methodsd. Relatively high wage levels for all domestic workers（）9.International trade in goods and services tends to:a. Increase all domestic costs and pricesb. Keep all domestic costs and prices at the same levelc. Lessen（减少）the amount of competition facing home manufacturers（国内生产商）d. Increase the amount of competition facing home manufacturers（）10.A sudden shift（转变）from import tariffs（进口税）to free trade may induce（引起）short-term unemployment in:a. Import-competing industries（进口竞争行业）b. Industries that are only exportersc. Industries that sell domestically as well as exportd. Industries that neither import norexport（）11. A closed economy（封闭经济）is one in which:a. Imports exactly equal exports, so that trade is balanced（贸易平衡）b. Domestic firms invest（投资）in industries overseasc. The home economy is isolated（使分离）from foreign traded. Saving（储蓄）exactly equals investment（投资）at full employment（充分就业）（）12. Relative to countries with low ratios of exports to gross domestic product （国内生产总值，GDP）, countries having high export to gross domestic product ratios are______ vulnerable（易受影响的）to changes in the world market.a. Lessb. Morec. Equallyd. Any of the above（）13.Recent pressures for protectionism（保护主义）in the United States have been motivated（促动，激发）by all of the following except:a. U.S. firms shipping component（零件）production overseasb. High profit levels for American corporationsc. Sluggish（迟缓的，不活跃的）rates of productivity growth in the United Statesd. High unemployment rates among American workersTRUE-FALSE QUESTIONS（）1.Opening the economy to international trade tends to lessen inflationary pressures at home.（）2.The benefits of international trade accrue（增加）in the forms of lower domestic prices, development of less efficient methods and new products, and a greater range of consumptionchoices.（）3. In an open trading system, a country will import those commodities that it produces at relatively low cost while exporting commodities that can be produced at relatively high cost.（）4.Although free trade provides benefits for consumers, it is often argued that import protection should be provided to domestic producers of strategic goods（战略物资）and materials vital（至关重要的）to the nation’s security（安全）.（）5.In the long run, competitiveness depends on an industry’s natural resources（自然资源）, its stock of machinery and equipment, and the skill of its workers in creating goods that people want to buy.（）6.Increased foreign competition tends to increase profits of domestic import-competing companies （进口竞争行业）.。
The Chapter 4
4.1 USING MULTIPLE REGRESSION TO DESCRIBE A LINER RELATIONSHIP
Omitted Variable Bias(见Wooldridge第四版89页－94页) 线性回归模型中，遗漏与回归模型中已有自变量相关的自 变量，将会引起已有自变量的参数估计有偏。
4.1 USING MULTIPLE REGRESSION TO DESCRIBE A LINER RELATIONSHIP 4.2 INFERENCES FROM A MULTIPLE REGRESSION ANALYSIS 4. 3 ASSESSING THE FIT OF THE REGRESSION LINE 4.4 COMPARING TWO REGRESSION MODELS 4.5 PREDICTION WITH A MULTIPLE REGRESSION EQUATION 4.6 MULTICOLUNEARITY: A POTENTIAL PROBLEM IN MULTIPLE REGRESSION 4.7 LAGGED VARIABLES AS EXPLANATORY VARIABLES
4.1 USING MULTIPLE REGRESSION TO DESCRIBE A LINER RELATIONSHIP
An equation that "best" describes the relationship between a dependent variable y and K explanatory variables x1 , x 2 , , x k can be written y b0 b1 x1 b2 x2 bk xk
计量经济学书后答案 书第1 10章
计量经济学书后答案书第1 10章----d9239f6d-6ebb-11ec-a63b-7cb59b590d7d计量经济学书后答案--书第1-10章第一章导言1．计量经济学是一门什么样的学科？答：计量经济学的英文单词是econometrics，它最初的意思是“计量经济学”。
它研究经济问题的计量经济学方法，因此有时被翻译成“计量经济学”。
计量经济学被翻译成“计量经济学”，以强调它是现代经济学的一个分支。
不仅要研究经济问题的计量经济学方法，还要研究经济问题发展变化的数量规律。
可以认为，计量经济学是以经济理论为指导，以经济数据为依据，以数学、统计方法为手段，通过建立、估计、检验经济模型，揭示客观经济活动中存在的随机因果关系的一门应用经济学的分支学科。
2.计量经济学与经济理论、数学和统计学之间有什么联系和区别？答：计量经济学是经济理论、数学、统计学的结合，是经济学、数学、统计学的交叉学科（或边缘学科）。
计量经济学与经济学、数学、统计学的联系主要是计量经济学对这些学科的应用。
计量经济学对经济学的应用主要体现在以下几个方面：第一，计量经济学模型的选择和确定，包括对变量和经济模型的选择，需要经济学理论提供依据和思路；第二，计量经济分析中对经济模型的修改和调整，如改变函数形式、增减变量等，需要有经济理论的指导和把握；第三，计量经济分析结果的解读和应用也需要经济理论提供基础、背景和思路。
计量经济学对统计学的应用，至少有两个重要方面：一是计量经济分析所采用的数据的收集与处理、参数的估计等，需要使用统计学的方法和技术来完成；一是参数估计值、模型的预测结果的可靠性，需要使用统计方法加以分析、判断。
计量经济学对数学的应用也是多方面的，首先，对非线性函数进行线性转化的方法和技巧，是数学在计量经济学中的应用；其次，任何的参数估计归根结底都是数学运算，较复杂的参数估计方法，或者较复杂的模型的参数估计，更需要相当的数学知识和数学运算能力，另外，在计量经济理论和方法的研究方面，需要用到许多的数学知识和原理。
智慧树知到《大学英语》章节测试答
xx树知到《大学英语》章节测试答案第一章1、We often ( ) that when other people do the same things as we do, they do them for the same reasons; but this assumption is not always reasonable.A:exploreB:emergeC:enrichD:assume正确答案：assume2、He ( ) the gift of imagination from his family, but he lacked the driving power to take action.A:inheritedB:acquiredC:overwhelmedremembering this.A:confidenceB:potentialC:innocenceD:approach正确答案：potential5、He was proud of being chosen to ( ) in the game, and he promised that he would try as hard as possible.A:participateB:evolveC:bondD:embrace正确答案：participate第二章C:complain thatD:complain to正确答案：complain about3、He intends to quit the job, not that he dislikes it, but that he is too old forit.可翻译为：他打算辞职，不是因为他讨厌这项工作，而是因为他年纪太大了，工作。
A:对B:错正确答案：对不适合这项4、It is not tha t Kate doesn’t want to help you, but that it is beyond her power.可翻译为：不是凯特不想帮你，而是这超出了她的能力范围。
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Chapter 01 - Overview of Statistics 1-1 Chapter 1 Overview of Statistics 1.1 a. Statistics can be used to 1) determine what a typical commission is and then 2) use that value to identify commissions that appear to be unusually high. b. She could use statistics to show the average energy use compared to previous models. She could also use statistics to show how durable the monitor would be in the field. c. He could use statistics to calculate the average absenteeism at each plant and then compare across the three plants. d. He could calculate average number of defects in each shipment. He could determine variation in number of defects between the three shipments. Learning Objective: 01-1
1.2 a. He could calculate the job turnover for each gender for each restaurant. He could then look at the difference between the various restaurants as well as the difference between genders. b. He could calculate the average number of emails received and sent for employees in different job classifications and make comparisons. c. The portfolio manager could calculate both the average return and the variation on return for the six different investments and make comparisons. d. By studying the busiest times of day for surgery, the administrator could work with surgeons to spread their surgeries out to better use the facilities. He might also look at which surgeries take the longest and which are shorter to help with scheduling. LearningObjective: 01-1
1.3 a. The average business school graduate should expect to use computers to manipulate the data. b. Answers will vary. Weak quantitative skills lead to poor decision making because data-based decision making is a hallmark of successful businesses. If one cannot analyze data or understand summary analyses, one will be making decisions without full information. LearningObjective: 01-2
1.4 a. Answers will vary. Why Not Study: It is difficult to become a statistical “expert” after taking one introductory college course. A business person should hire statistical experts and have faith that those who are using statistics are doing it correctly.Why Study: In fact, most college graduates will use statistics every day.Relying on a consultant to perform simple or even complex statistical analyses means turning over part of the business decision-making to someone who doesn’t know your business as well as you do. b. Answers will vary. Answers provided in part a will be similar for the subjects of accounting. Foreign languages are essential in this global business environment of today. While learning a foreign language can take considerably more time as an adult, Chapter 01 - Overview of Statistics 1-2 the investment is worth it. Businesses are looking for college graduates that have quantitative skills and speak a foreign language. Chinese and Spanish are popular choices. c. To arrive at an absurd result, and then conclude the original assumption must have been wrong, since it gave us this absurd result. This is also known as proof by contradiction. It makes use of the law of excluded middle — a statement which cannot be false, must then be true. If you state that you will never use statistics in your business profession then you might conclude that you shouldn’t study statistics. However, the original assumption of never using statistics is wrong; therefore the conclusion of not needing to study statistics is also wrong. LearningObjective: 01-2
1.5 a. Answers will vary. b. An hour with an expert at the beginning of a project could be the smartest move a manager can make. A consultant is helpful when your team lacks certain critical skills, or when an unbiased or informed view cannot be found inside your organization. Expert consultants can handle domineering or indecisive team members, personality clashes, fears about adverse findings, and local politics. As in any business decision, the costs of paying for statistical assistance must be weighed against the benefits. Costs are: statistician’s time, more time invested in the beginning of a project which may mean results are not immediate. Benefits include: better sampling strategies which can result in more useful data, a better understanding of what information can be extracted from the data, greater confidence in the results. LearningObjective: 01-2
1.6 a. The ethical issue is that credit card companies are using unfair marketing practices to entice students to use credit cards. Students are a vulnerable group that has not been educated about personal finance. Credit card companies are also purchasing student lists from universities and various student groups. This is also an unethical practice by the universities. b. They used an in-person survey given to 1500 students. These students were randomly solicited at popular places on campus. The sampling technique was a convenience sample. The report did not attempt to make inferences about the population of college students. The report simply provided statistics collected from their sample. The naïve reader would most likely make the inference that the numbers from the sample apply to the population as a whole. This should be made clearer in the report. c. The subjects surveyed include 1) how students pay for their education, 2) how they use credit cards, 3) how many of them use credit cards, and 4) attitudes toward credit card marketing on campus. It would be interesting to see what the questions were and how they were worded. d. Because the survey focused on students’ opinions and did not provide information about credit card use by the general population it is difficult to conclude that the marketing practices companies use on campuses are different from those used to market cards to the general public. Furthermore, it was not obvious that those students who had credit cards obtained those cards as a direct result of the campus marketing efforts. What was impressive was the amount of research the group did to support their claims of