Problem 1: In your own words, differentiate the following statistical terminologies with some examples.
a. Population Parameter and Sample Statistic
b. Descriptive Statistics and Inferential Statistics
c. Nominal Scale and Ordinal Scale
d. Primary Data Source and Secondary Data Source
Problem 2: The Bureau of Transportation Statistics Omnibus Household Survey is conducted annually and serves as an information source for the U.S. Department of Transportation. In one part of the survey the person being interviewed was asked to respond to the following statement: "Drivers of motor vehicles should be allowed to talk on a hand-held cell phone while driving." Possible responses were strongly agree, somewhat agree, somewhat disagree, and strongly disagree. Forty-four respondents said that they strongly agree with this statement, 130 said that they somewhat agree, 165 said they somewhat disagree, and 741 said they strongly disagree with this statement (Bureau of Transportation website, August 2010).
a. Do the responses for this statement provide categorical or quantitative data?
b. Would it make more sense to use averages or percentages as a summary of the responses for this statement?
c. What percentage of respondents strongly agrees with allowing drivers of motor vehicles to talk on a hand-held cell phone while driving?
d. Do the results indicate general support for or against allowing drivers of motor vehicles to talk on a hand-held cell phone while driving?
Problem 3: The table below shows a data set containing information for 25 of the shadow stocks tracked by the American Association of Individual Investors. Shadow stocks are common stocks of smaller companies that are not closely followed by Wall Street analysts.
|
Company
|
Exchange
|
Ticker Symbol
|
Market Cap ($ millions)
|
Price/ Earnings Ratio
|
Gross Profit Margin (%)
|
|
DeWolfe Companies
|
AMEX
|
DWL
|
36.4
|
8.4
|
36.7
|
|
North Coast Energy
|
OTC
|
NCEB
|
52.5
|
6.2
|
59.3
|
|
Hansen Natural Corp.
|
OTC
|
HANS
|
41.1
|
14.6
|
44.8
|
|
MarineMax, Inc.
|
NYSE
|
HZO
|
111.5
|
7.2
|
23.8
|
|
Nanometrics Incorporated
|
OTC
|
NANO
|
228.6
|
38
|
53.3
|
|
TeamStaff, Inc.
|
OTC
|
TSTF
|
92.1
|
33.5
|
4.1
|
|
Environmental Tectonics
|
AMEX
|
ETC
|
51.1
|
35.8
|
35.9
|
|
Measurement Specialties
|
AMEX
|
MSS
|
101.8
|
26.8
|
37.6
|
|
SEMCO Energy, Inc.
|
NYSE
|
SEN
|
193.4
|
18.7
|
23.6
|
|
Party City Corporation
|
OTC
|
PCTY
|
97.2
|
15.9
|
36.4
|
|
Embrex, Inc.
|
OTC
|
EMBX
|
136.5
|
18.9
|
59.5
|
|
Tech/Ops Sevcon, Inc.
|
AMEX
|
TO
|
23.2
|
20.7
|
35.7
|
|
ARCADIS NV
|
OTC
|
ARCAF
|
173.4
|
8.8
|
9.6
|
|
Qiao Xing Universal Tele.
|
OTC
|
XING
|
64.3
|
22.1
|
30.8
|
|
Energy West Incorporated
|
OTC
|
EWST
|
29.1
|
9.7
|
16.3
|
|
Barnwell Industries, Inc.
|
AMEX
|
BRN
|
27.3
|
7.4
|
73.4
|
|
Innodata Corporation
|
OTC
|
INOD
|
66.1
|
11
|
29.6
|
|
Medical Action Industries
|
OTC
|
MDCI
|
137.1
|
26.9
|
30.6
|
|
Instrumentarium Corp.
|
OTC
|
INMRY
|
240.9
|
3.6
|
52.1
|
|
Petroleum Development
|
OTC
|
PETD
|
95.9
|
6.1
|
19.4
|
|
Drexler Technology Corp.
|
OTC
|
DRXR
|
233.6
|
45.6
|
53.6
|
|
Gerber Childrenswear Inc.
|
NYSE
|
GCW
|
126.9
|
7.9
|
25.8
|
|
Gaiam, Inc.
|
OTC
|
GAIA
|
295.5
|
68.2
|
60.7
|
|
Artesian Resources Corp.
|
OTC
|
ARTNA
|
62.8
|
20.5
|
45.5
|
|
York Water Company
|
OTC
|
YORW
|
92.2
|
22.9
|
74.2
|
Q1. How many variables are in the data set?
Q2. Which of the variables are categorical and which are quantitative?
Q3. For the Exchange variable, show the frequency and the percent frequency for AMEx. Construct a bar graph for the Exchange variable.
Q4. Show the frequency distribution for the gross Profit Margin using the five intervals: 0-14.9, 15-29.9, 30-44.9, 45-59.9, and 60-74.9. Construct a histogram.
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