(Solution Manual) Modern Business Statistics with Microsoft® Excel®

Anderson, Sweeney, Williams, Camm, Cochran, Fry, Ohlmann, 7

Math & Statistics

Solution Manual

7th Edition

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Solution Manual for Modern Business Statistics with Microsoft® Excel®, The downloadable file consists of 812 pages, and the total size of the file is 6.6 MB. Purchase now only for highly discounted price.

Author(s): Anderson, Sweeney, Williams, Camm, Cochran, Fry, Ohlmann

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Study Note Preview

1 - 1 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 1 Data and Statistics Learning Objectives 1. Obtain an appreciation for the breadth of statistical applications in business and economics. 2. Understand the meaning of the terms elements, variables, and observations as they are used in statistics. 3. Obtain an understanding of the difference between categorical, quantitative, cross -sectional , and time series data. 4. Learn about the sources of data for statistical analysis both internal and external to the firm. 5. Be aware of how err ors can arise in data. 6. Know the meaning of descriptive statistics and statistical inference. 7. Be able to distinguish between a population and a sample. 8. Understand the role a sample plays in making statistical inferences about the population. 9. Know the meaning of the term s analytics, big data and data mining. 10. Be aware of ethical guidelines for statistical practice. Chapter 1 1 - 2 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Solutions: 1. Statistics can be referred to as numerical facts. In a broader sense, statistics is the field of study dealing with the collection, analysis, presentation , and interpretation of data. 2. a. The ten elements are the ten tablet computers . b. Five variables: Cost ($), Operating System, Display Size (inches), Battery Life (hours), CPU Manufacturer c. Categorical variables: Operating System and CPU Manufacturer Quantitative variables: Cost ($), Display Size (inches), and Battery Life (hours) d. Variable Measurement Scale Cost ($) Ratio Operating System Nominal Display Size (inches) Ratio Battery Life (hours) Ratio CPU Manufacturer Nominal 3. a. Average cost = 5829/10 = $582.90 b. Average cost with a Windows operating system = 3616/5 = $723.20 Average cost with an Android operating system = 1714/4 = $428.5 The average cost with a Windows operating system is much higher. c. 2 of 10 or 20% use a CPU manufactured by TI OMAP . d. 4 of 10 or 40% use an Android operating syst em. 4. a. There are eight elements in this data set; each element corresponds to one of the eight models of cordless telephones . b. Categorical variables: Voice Quality and Handset on Base Quantitative variables: Price, Overall Score, and Talk Time c. Price – ratio measurement Overall Score – interval measurement Voice Quality – ordinal measurement Handset on Base – nominal measurement Talk Time – ratio measurement 5. a. Average Price = 545/8 = $68.13 b. Average Talk Time = 71/8 = 8.875 hours c. Percentage rated Excellent: 2 of 8 2/8 = .25, or 25% Data and Statistics 1 - 3 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6. a. Categorical b. Quantitative c. Categorical d. Quantitative e. Quantitative 7. a. Since there are five choices, the response is a categorical response. b. The five responses are the labels for the customer responses. A nominal scale is being used. 8. a. 762 b. Categorical c. Percentages d. .67(762) = 510.54 510 or 511 respondents said they want the amendment to pass. 9. a. The population is employed individuals in the United States aged 25 –29. b. Have you earned a bachelor’s degree (or higher) ? c. Since the response is yes or no, the response is categorical. 10. a. Categorical b. Percentages c. 44 of 1080 responden ts or approximately 4% strongly agree with allowing drivers of motor vehicles to talk on a hand -held cell phone while driving. d. 165 of the 1080 respondents or 15% of said they somewhat disagree and 741 or 69% said they strongly disagree. Thus, there does not appear to be general support for allowing drivers of motor vehicles to talk on a hand -held cell phone while driving. 11. a. Since the respondents answer with some time interval , the response is catego rical. b. .53(1503) = 796.59 or approximately 797 c. .10(1503) = 150.3 or approximately 150 12. a. The population is all visitors coming to the state of Hawaii. b. Since airline flights carry the vast majority of visitors to the state , the use of questionnaires for passengers during incoming flights is a good way to reach this population. The questionnaire actually appears on the back of a mandatory plants and animal s declaration form that passengers must complete during the incoming flight. A large percentage of passengers complete the visitor information questionnaire. Chapter 1 1 - 4 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. c. Questions 1 and 4 provide quantitative data indicating the number of visits and the number of days in Hawaii. Questions 2 and 3 provide categorical data indicating the categories of reason for the trip and where the visitor plans to stay. 13. a. Facebook worldwide advertising revenue in billions of dollars . b. Quantitative c. Time series d. Facebook advertising revenue is increasing at an increasing rate over time. 14. a. The graph of the time series follows: b. In Year 1 and Year 2 Hertz was the clear market share leader. In Year 3 and Year 4 Hertz and Avis have approximately the same market share. The market share for Dollar appears to be declining. c. The bar chart for Year 4 is shown below. 050100150200250300350 Year 1 Year 2 Year 3 Year 4Hertz Dollar AvisData and Statistics 1 - 5 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. This chart is based on cross -sectional data. 15. a. Quantitative – jewelry sales in millions of dollars b. Time series c. February, May, November , and December d. November and December are likely due to Christmas sales. February is likely due to Valentine’s Day. May perhaps because of gifts for graduations and Mother’s Day. 16. a. Time series b. c. Sales appear to be increasing in a linear fashion. 17. Internal data on salaries of other employees can be obtained from the personnel department. External data might be obtained from the Department of Labor or industry associati ons. 050100150200250300350 Hertz Dollar Avis Company 0.000.501.001.502.002.503.003.504.004.50 1 2 3 4 YearChapter 1 1 - 6 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 18. a. 684/1021; or approximately 67% b. (.6)*(1021) = 612.6 Therefore, 612 or 613 used an accountant or professional tax preparer. c. Categorical 19. a. All subscribers of Bloomberg Businessweek in North America at the time the survey was conducted. b. Quantitative c. Categorical (yes or no) d. Cross -sectional — all the data relate to the same time. e. Using the sample results, we could infer or estimate 59% of the population of subscribers have an annual income of $75,000 or more and 50% of the population of subscribers have an American Express credit card. 20. a. 43% of managers were bullish or very bullish. 21% of managers expected health care to be the leading industry ove r the next 12 months. b. We estimate the average 12 -month return estimate for the population of investment managers to be 11.2%. c. We estimate the average over the population of investment managers to be 2.5 years. 21. a. The two populations are the population of women whose mothers took the drug DES during pregnancy and the population of women whose mothers did not take the drug DES during pregnancy. b. It was a survey. c. 63/3980 = .0158 or 15.8 women out of each 1000 developed tissue abnormalities. d. The article reported “twice” as many abnormalities in the women whose mothers had taken DES during pregnancy. Thus, a rough estimate would be 15.8/2 = 7.9 abnormalities per 1000 women whose mothe rs had not taken DES during pregnancy. e. In many situations, disease occurrences are rare and affect only a small portion of the population. Large samples are needed to collect data on a reasonable number of cases where the disease exists. 22. a. The p opulation consists of all clients that currently have a home listed for sale with the agency or have hired the agency to help them locate a new home. b. Some of the ways that could be used to collect the data are as follows: • A survey could be mailed to each of the agency’s clients. • Each client could be sent an e -mail with a survey attached. • The next time one of the firm’s agents meets with a client they could conduct a personal interview to obtain the data. 23. a. The population is American teens aged 13 –17 who own a smartphone. Data and Statistics 1 - 7 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. b. The population is American teens aged 13 –17 who do not own a smartphone. c. Pew Research conducted a sample survey. It would not be practical to conduct a census as it would take too much time and money to do so. 24. a. This is a statistically correct descriptive statistic for the sample. b. An incorrect generalization since the data was not collected for the entire population. c. An acceptable statistical inference based on the use of the word “estimate.” d. While this statement is true for the sample, it is not a justifiable conclusion for the entire population. e. This statement is not statistically supportable. While it is true for the particular sample observed, it is entirely possible and even very lik ely that at least some students will be outside the 65 to 90 range of grades. 25. a. There are five variables: Overall Score, Recommended, Owner Satisfaction, Overall Miles per Gallon, and Acceleration (0 –60) Sec. b. Categorical variables: Recommended, Owner Satisfaction Quantitative variables: Overall Score, Overall Miles per Gallon, Acceleration (0 –60) Sec c. 7/15 or 47% are recommended . d. 24.4 miles per gallon e. Response Percentage – – 0.00 – 6.67 0 46.67 + 26.67 ++ 20.00 Chapter 1 1 - 8 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. f. Acceleration (0 –60) Sec Frequency 7.0–7.9 1 8.0–8.9 5 9.0–9.9 4 10.0–10.9 5 0.005.0010.0015.0020.0025.0030.0035.0040.0045.0050.00 - - - 0 + ++ Owner Satisfaction 0123456 7.0-7.9 8.0-8.9 9.0-9.9 10.0-10.9 Acceleration (0 -60) Sec2 - 1 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 2 Descriptive Statistics: Tabular and Graphical Display s Learning Objectives 1. Learn how to construct and interpret summarization procedures for qualitative data such as: frequency and relative frequency distributions, bar graphs and pie charts. 2. Learn how to construct and interpret tabular summarization procedures for quantitativ e data such as: frequency and relative frequency distributions, cumulative frequency and cumulative relative frequency distributions. 3. Learn how to construct a dot plot and a histogram as graphical summaries of quantitative data. 4. Learn how the shap e of a data distribution is revealed by a histogram. Learn how to recognize when a data distribution is negatively skewed, symmetric, and positively skewed. 5. Be able to use and interpret the exploratory data analysis technique of a stem -and-leaf display . 6. Learn how to construct and interpret crosstabulations , scatter diagrams , and side-by-side and stacked bar charts . 7. Learn best practices for creating effective graphical displays and for choosing the appropriate type of display. Chapter 2 2 - 2 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Solutions: 1. Class Frequency Relative Frequency A 60 60/120 = 0.50 B 24 24/120 = 0.20 C 36 36/120 = 0.30 Total 120 1.00 2. a. 1 – (.22 + .18 + .40) = .20 b. .20(200) = 40 c/d. Class Frequency Percent Frequency A .22(200) = 44 22 B .18(200) = 36 18 C .40(200) = 80 40 D .20(200) = 40 20 Total 200 100 3. a. 360° × 58/120 = 174° b. 360° × 42/120 = 126° c. No 35.0% Yes 48.3%No Opinion 16.7%Descriptive Statistics: Tabular and Graphical Displays 2 - 3 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. d. 4. a. These data are categorical. b. Website Frequency Percent Frequency FB 7 14 GOOG 14 28 WIKI 9 18 YAH 13 26 YT 7 14 Total 50 100 c. The most frequent ly visited website is google.com (GOOG); second is yahoo.com (YAH). 5. a. b. 010203040506070 Yes No No Opinion Response Relative Percent Name Frequency Frequency Frequency Brown 7 0.14 14% Johnson 10 0.20 20% Jones 7 0.14 14% Garcia 6 0.12 12% Smith 12 0.24 24% Williams 8 0.16 16% Total 50 1 100% Chapter 2 2 - 4 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. c. 02468101214 Brown Johnson Jones Garcia Smith Williams Last NameCommon U.S. Last Names 02468101214 Smith Johnson Williams Brown Jones Garcia Last NameCommon U.S. Last NamesDescriptive Statistics: Tabular and Graphical Displays 2 - 5 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. d. e. The three most common last names are Smith (24%), Johnson (20%) and Williams (16%). This is easily apparent from the sorted bar chart in c. Without the labeling of percentages, it is difficult to determine the most common names from the pie chart. 6. a. Relative Network Frequency Percent Frequency ABC 6 24 CBS 9 36 FOX 1 4 NBC 9 36 Total 25 100 b. For these data, NBC and CBS tie for the number of top -rated shows. Each has 9 (36%) of the top 25. ABC is third with 6 (24%) and the much younger FOX network has 1 (4%). Brown 14% Johnson 20% Jones 14% Garcia 12%Smith 24%Williams 16%Common U.S. Last Names 012345678910 ABC CBS FOX NBC NetworkChapter 2 2 - 6 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 7. a. Rating Frequency Percent Frequency Excellent 20 40 Very Good 23 46 Good 4 8 Fair 1 2 Poor 2 4 Total 50 100 Management should be very pleased with the survey results. 40% + 46% = 86% of the ratings are very good to excellent. 94% of the ratings are good or better. This does not look to be a Delta flight where significant changes are needed to improve the overall customer satisfaction ratings. b. While the overall ratings look fine, n ote that one customer (2%) rated the overall experience with the flight as Fair and two customers (4%) rated the overall experience with the flight as Poor. It might be insightful for the manager to review explanations from these customers as to how the fl ight failed to meet expectations. Perhaps, it was an experience with other passengers that Delta could do little to correct or perhaps it was an isolated incident that Delta could take steps to correct in the future. 8. a. Position Frequency Relative Freq uency Pitcher 17 0.309 Catcher 4 0.073 1st Base 5 0.091 2nd Base 4 0.073 3rd Base 2 0.036 Shortstop 5 0.091 Left Field 6 0.109 Center Field 5 0.091 Right Field 7 0.127 Total 55 1.000 b. Pitchers (Almost 31%) 05101520253035404550 Poor Fair Good Very Good Excellent Customer RatingDescriptive Statistics: Tabular and Graphical Displays 2 - 7 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. c. 3rd Base (3 – 4%) d. Right Field (Almost 13%) e. Infielders (16 or 29.1%) to Outfielders (18 or 32.7%) 9. a. Bachelor ’s Master ’s B 21% 27% CSE 9% 9% E 6% 24% H 16% 8% NSM 8% 2% SBS 16% 6% O 24% 24% Total 100% 100% b. c. The lowest percentage for a Bachelor’s is Education (6%) and for a Master’s is Natural Sciences and Mathematics (2%). 0%5%10%15%20%25%30% B CSE E H NSM O SBS Bachelor's Degree Field of Study 0%5%10%15%20%25%30% B CSE E H NSM O SBS Master's Degree Field of StudyChapter 2 2 - 8 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. d. The highest percentage for a Bachelor’s is Other (24%) and for a Master’s is Business (27%). e. Bachelor ’s Master ’s Difference B 21% 27% 6% CSE 9% 9% 0% E 6% 24% 18% H 16% 8% –8% NSM 8% 2% –6% SBS 16% 6% –10% O 24% 24% 0% Education has the largest increase in percent: 18% 10. a. Rating Frequency Excellent 187 Very Good 252 Average 107 Poor 62 Terrible 41 Total 649 b. Rating Percent Frequency Excellent 29 Very Good 39 Average 16 Poor 10 Terrible 6 Total 100 Descriptive Statistics: Tabular and Graphical Displays 2 - 9 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. c. d. At the Lakeview Lodge, 29% + 39% = 68% of the guests rated the hotel as Excellent or Very Good. But, 10% + 6% = 16% of the guests rated the hotel as poor or terrible. e. The percent frequency distribution for the Timber Hotel follows : Rating Percent Frequency Excellent 48 Very Good 31 Average 12 Poor 6 Terrible 3 Total 100 At the Lakeview Lodge, 48% + 31% = 79% of the guests rated the hotel as excellent or very good , and 6% + 3% = 9% of the guests rated the hotel as poor or terrible. Compared to ratings of other hotels in the same region, both of these hotels received very favorable ratings. But, in comparing the two hotels, guests at the Timber Hotel provided somewhat better ratings than guests at the Lakeview Lodge . 11. Class Frequency Relative Frequency Percent Frequency 12–14 2 0.050 5.0 15–17 8 0.200 20.0 18–20 11 0.275 27.5 21–23 10 0.250 25.0 24–26 9 0.225 22.5 Total 40 1.000 100.0 051015202530354045 Excellent Very Good Average Poor Terrible RatingChapter 2 2 - 10 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 12. Class Cumulative Frequency Cumulative Relative Frequency less than or equal to 19 10 .20 less than or equal to 29 24 .48 less than or equal to 39 41 .82 less than or equal to 49 48 .96 less than or equal to 59 50 1.00 13. 14. a. b/c. Class Frequency Percent Frequency 6.0–7.9 4 20 8.0–9.9 2 10 10.0–11.9 8 40 12.0–13.9 3 15 14.0–15.9 3 15 Total 20 100 15. Leaf Unit = .1 6 3 7 5 5 7 8 1 3 4 8 024681012141618 10-19 20-29 30-39 40-49 50-59 Descriptive Statistics: Tabular and Graphical Displays 2 - 11 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 9 3 6 10 0 4 5 11 3 16. Leaf Unit = 10 11 6 12 0 2 13 0 6 7 14 2 2 7 15 5 16 0 2 8 17 0 2 3 17. a/b. Waiting Time Frequency Relative Frequency 0–4 4 0.20 5–9 8 0.40 10–14 5 0.25 15–19 2 0.10 20–24 1 0.05 Totals 20 1.00 c/d. Waiting Time Cumulative Frequency Cumulative Relative Frequency Less than or equal to 4 4 0.20 Less than or equal to 9 12 0.60 Less than or equal to 14 17 0.85 Less than or equal to 19 19 0.95 Less than or equal to 24 20 1.00 e. 12/20 = 0.60 18. a. PPG Frequency 10–11.9 1 12–13.9 3 14–15.9 7 16–17.9 19 18–19.9 9 20–21.9 4 22–23.9 2 24–25.9 0 26–27.9 3 28–29.9 2 Chapter 2 2 - 12 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Total 50 b. PPG Relative Frequency 10–11.9 0.02 12–13.9 0.06 14–15.9 0.14 16–17.9 0.38 18–19.9 0.18 20–21.9 0.08 22–23.9 0.04 24–25.9 0.00 26–27.9 0.06 28-29.9 0.04 Total 1.00 c. PPG Cumulative Percent Frequency Less than 12 2 Less than 14 8 Less than 16 22 Less than 18 60 Less than 20 78 Less than 22 86 Less than 24 90 Less than 26 90 Less than 28 96 Less than 30 100 Descriptive Statistics: Tabular and Graphical Displays 2 - 13 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. d. e. There is skewness to the right. f. (11/50)(100) = 22% 19. a. The busiest airport is Hartsfield -Jackson Atlanta (ATL) with 104.2 million total passengers. The least busy airport is Detroit Metropolitan (DTW) with 34.4 million total passengers. b. Total Passengers (Millions) Frequency 30–39.9 4 40–49.9 9 50–59.9 3 60–69.9 1 70–79.9 1 80–89.9 1 90–99.9 0 100–109.9 1 Total 20 02468101214161820 10-12 12-14 14-16 16-18 18-20 20-22 22-24 24-26 26-28 28-30 PPGChapter 2 2 - 14 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. c. Most of the top 20 busiest North American airports service fewer than 60 million passengers. Only four of the 20 airports have more than 60 million passengers. 20. a. Least = 12, Highest = 23 b. Percent Hours in Meetings per Week Frequency Frequency 11–12 1 4% 13–14 2 8% 15–16 6 24% 17–18 3 12% 19–20 5 20% 21–22 4 16% 23–24 4 16% Total 25 100% 30-39.9 40 -49.9 50-59.9 60 -69.9 70 -79.9 80 -89.9 90 -99.9 100-109.9Descriptive Statistics: Tabular and Graphical Displays 2 - 15 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. c. The distribution is slightly skewed to the left. 21. a/b/c/d. Revenue Frequency Relative Frequency Cumulative Frequency Cumulative Relative Frequency 0–1.9 10 0.17 10 0.17 2.0–3.9 24 0.40 34 0.57 4.0–5.9 7 0.12 41 0.68 6.0–7.9 5 0.08 46 0.77 8.0–9.9 3 0.05 49 0.82 10.0–11.9 4 0.07 53 0.88 12.0–13.9 1 0.02 54 0.90 14.0–15.9 1 0.02 55 0.92 16.0–17.9 0 0.00 55 0.92 18.0–19.9 0 0.00 55 0.92 20.0–21.9 0 0.00 55 0.92 22.0–23.9 1 0.02 56 0.93 24.0–25.9 1 0.02 57 0.95 26.0–27.9 2 0.03 59 0.98 28.0–29.9 0 0.00 59 0.98 30.0–31.9 0 0.00 59 0.98 32.0–33.9 0 0.00 59 0.98 34.0–35.9 0 0.00 59 0.98 36.0–37.9 1 0.02 60 1.00 Total 60 1.00 e. Most universities (55) have endowments less than $16 billion. Only 5 have endowments large r than $16 billion. We see that .92, or 92%, of the universities have endowments less than $16 billion, and only .08 , or 8%, of the universities have endowments larger than $16 billion. 01234567 11-12 13-14 15-16 17-18 19-20 21-22 23-24 Hours per Week in MeetingsChapter 2 2 - 16 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. f. The histogram shows the distribution is skewed to the right with five university endowments in the $22 to $38 billion range. g. Harvard University has the largest endowment at $ 36 billion. All other universities have endowments less than $28 billion. Mo st (92%) have endowments less than $16 billion. 22. a. # U.S. Locations Frequency Percent Frequency 0–4,999 10 50 5,000–9,999 3 15 10,000–14,999 2 10 15,000–19,999 1 5 20,000–24,999 0 0 25,000–29,999 1 5 30,000–34,999 2 10 35,000–39,999 1 5 Total 20 100 Descriptive Statistics: Tabular and Graphical Displays 2 - 17 © 20 21 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. b. c. The distribution is skewed to the right. The majority of the franchises in this list have fewer than 20,000 locations (50% + 15% + 15% = 80%). McDonald ’s, Subway and 7 -Eleven have the highest number of locations. 23. a. The highest positive YTD % Change for Japan’s Nikkei index with a YTD % Change of 31.4%. b. A class size of 10 results in 10 classes. YTD % Change Frequency –20 – –15.1 1 –15 – –10.1 1 –10 – –5.1 3 –5 – –0.1 3 0–4.9 4 5–9.9 5 10–14.9 8 15–19.9 3 20–24.9 1 25–29.9 0 30–34.9 1 024681012 0 - 49995000 - 999910000 - 1499915000 - 1999920000 - 2499925000 - 2999930000 - 3499935000 - 39999 Number of U.S. Locations