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Chapter 2: 132E (page 133)

Most valuable NFL teams.Refer to the Forbeslisting of the 2015 values of the 32 teams in the National Football League (NFL), Exercise 2.26 (p. 84). Construct a scatterplot to investigate the relationship between 2015 value (\( millions) and operating income (\) millions). Would you recommend that an NFL executive use operating income to predict a team’s current value? Explain.

Short Answer

Expert verified

The graph is given below:

There is a positive correlation between the current value and the operating income. Therefore, I would suggest any NFL executive use operating income to predict the team's current value.

Step by step solution

01

Constructing the scatter plot and interpreting it

The graph is given below:

There is a positive relationshipbetween the current value of the team and the operating expense. As the operating income increases, the current value also increases.

Due to this correlation,I would recommend NFL executives to use operating income as a guide to estimate the current value.The higher the team's operating income, the higher the current value.

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Most popular questions from this chapter

Using only integers between 0 and 10, construct two data sets with at least 10 observations each so that the two sets have the same mean but different variances. Construct dot plots for each of your data sets and mark the mean of each data set on its dot diagram.

Defects in new automobiles.Consider the following data from the automobile industry. All cars produced on a particular day were inspected for defects. The 145 defects found were categorized by type as shown in the accompanying table.

Defect Type

Number

Accessories

Body

Electrical

Engine

Transmission

50

70

10

5

10

a.Construct a Pareto diagram for the data. Use the graph to identify the most frequently observed type of defect.

b.All 70 car body defects were further classified as to type. The frequencies are provided in the following table. Form a Pareto diagram for the type of body defect. (Adding this graph to the original Pareto diagram of part a is called exploding the Pareto diagram.) Interpret the result. What type of body defect should be targeted for special attention?

Body Defect

Number

Chrome

Dents

Paint

Upholstery

Windshield

2

25

30

10

3

Crude oil biodegradation.Refer to the Journal of Petroleum Geology (April 2010) study of the environmental factors associated with biodegradation in crude oil reservoirs, Exercise 2.29 (p. 85). Recall that amount of dioxide (milligrams/liter) and presence/absence of crude oil were determined for each of 16 water specimens collected from a mine reservoir. The data are repeated in the accompanying table.

Dioxide Amount

Crude Oil Present

3.3

No

0.5

Yes

1.3

Yes

0.4

Yes

0.1

No

4.0

No

0.3

No

0.2

Yes

2.4

No

2.4

No

1.4

No

0.5

Yes

0.2

Yes

4.0

No

4.0

No

4.0

No

a.Find the mean dioxide level of the 16 water specimens. Interpret this value.

b.Find the median dioxide level of the 16 water specimens. Interpret this value.

c.Find the mode of the 16 dioxide levels. Interpret this value.

d.Find the median dioxide level of the 10 water specimens with no crude oil present.

e.Find the median dioxide level of the 6 water specimens with crude oil present.

f.Compare the results, parts d and e. Make a statement about the association between dioxide level and presence/absence of crude oil.

Question: Corporate sustainability of CPA firms.Refer to the Business and Society(March 2011) study on the sustainability

behaviors of CPA corporations, Exercise 2.48 (p. 96). Numerical measures of variation for level of support for the 992 senior managers are shown in the accompanying Minitab printout.

Descriptive Statistics: Support

Variable

N

Mean

StDev.

Variance

Minimum

Maximum

Range

Support

992

67.755

26.871

722.036

0.000

155.000

155.000

a.Locate the range on the printout. Comment on the accuracy of the statement: “The difference between the largest and smallest values of level of support for the 992 senior managers is 155 points.”

b.Locate the variance on the printout. Comment on the accuracy of the statement: “On average, the level of support for corporate sustainability for the 992 senior managers is 722 points.”

c.Locate the standard deviation on the printout. Does the distribution of support levels for the 992 senior managers have more or less variation than another distribution with a standard deviation of 50? Explain.

d.Which measure of variation best describes the distribution of 992 support levels? Explain.

Question: Performance of stock screeners.Refer to the American Association of Individual Investors (AAII) statistics on stock screeners, Exercise 2.44 (p. 95). Annualized percentage return on investment (as compared to the Standard & Poor’s 500 Index) for 13 randomly selected stock screeners are reproduced in the table.

(9.0, -.1, -1.6, 14.6, 16.0, 7.7, 19.9, 9.8, 3.2, 24.8, 17.6, 10.7, 9.1)

a.Find the range of the data for the 13 stock screeners. Give the units of measurement for the range.

b.Find the variance of the data for the 13 stock screeners. If possible, give the units of measurement for the variance.

c.Find the standard deviation of the data for the 13 stock screeners. Give the units of measurement for the standard deviation
See all solutions

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