QNT 561 Final Exam Guide (New)

FOR MORE CLASSES VISIT www.qnt561genius.com 1. The mean gas mileage for a hybrid car is 56 miles per gallon. Suppose that the gasoline mileage is approximately normally distributed with a standard deviation of 3.2 miles per gallon. 2.

What conditions must n satisfy to make the x2 test valid?

3. To use the t-statistic to test for a difference between the means of two populations, what assumptions must be made about the two populations? About the two samples? 4. Studies of managers from two countries in the 1970s found sharp differences of opinion toward quality management. To find out if these differences continue to exist, researchers surveyed 100 managers in each country in the electronics manufacturing industry. The accompanying table gives the percentages of managers from each country who agree with each of 10 randomly selected statements regarding quality. Complete parts a through c. 5.

Consider the horizandal box plot shown to the right.

6. A random sample of 100 observations from a population with standard deviation 58 yielded a sample mean 111. Complete parts a through c.

7. Graph the relative frequency histogram for the 300 measurements summarized in the relative frequency table to the right. 8. Each month interviewrs visit about 69,000 of the 93 million households in the region and question the occupants over 18 years of age about their educational status. Their responses enable the interviewers to estimate the percentage of people in the labor force who are college educated. Complete parts a through c. 9. School bullying is a form of aggressive behaviour that occurs when a student repeatedly to nagative actions from another student. In oredr to study the effectiveness of an antibullying policy at elementary schools, a survey of over 2,000 elementary school children was conducted. Each student was asked if he or she ever bullied another student. In a sample of 1358 boys, 745 claimed they had never bullied another student. In a sample of 1379 girls, 966 claimed they had never bullied another student. Complete parts a through f below. 10. A study analyzes recent incidents involving terrorist attcks. Data on the number of individual suicide bombings that occurred in each of 20 sampled terrorist group attacks against a country is reproduced in the data table below. An EXCEL/DXL printout is shown to the right. Complete parts a through e. 11. Educators are constantly evaluating the efficacy of public schools in the education and training of students. One quantitative assessment of change over time is the difference in scores on the SAT. The table below contains the average SAT scores for the years 1988 and 2005. 12. Each child in a sample of 62 low-income was administrated a language and communication exam. The sentence complexity scores

had a mean of 7.63 and a standard deviation of 8.92. Complete parts a through d. 13. Suppose a consumer group rated 49 brands of toothpaste based on whether or not the brand carries an American Dental Association (ADA) seal verifying effective decay prevetion. The results of a hypothesis test for the proportion of brands with the seal are shown to the right. Complete parts a through c. 14. A university conducted a study on 446 business graduates who had all completed the same business course. The study used correlation coefficients to investigate the relationship between many different business skills. Two of the many variable measured were self-knowledge skill level (x) and goalsetting ability (y). The correlation coefficient was r = 0.82. Complete parts a through c below. 15. Reference from the doc file of mentioned r value 16. Five banks have been ranked by the amount charged to credit and debit cards issued by the banks. The table to the right gives the total amount charged in 2007 for the top ranked banks. 17. Which hypothesis, the null or the alternative, is the status-quo hypothesis? 18. A study was done to examine whether the perception of service quality at hotels differd by gender. Hotel guests were randomly selected to rate service items on a 5-point scale. The sum of the items for each guest was determined and a summary of the guest scores are provided in the table. Complete parts a and b. 19. Identify the problem(s) in the residual plots shown below.

20. A university economist conducted a study of elementary school llunch menus. During the state-mandated testing period, school lunches averaged 873 calories. The economist claimed that after the testing period ended, the average caloric content of the school lunches increased significantly. Set up the null and alternative hypothesis to test the economistâ€™s claim. 21. Compare the z-scores to decide which of the x values below lie the greatest distance above the mean and the greatest distance below the mean. 22. In one university, language professors incorporated a 10-week extensive reading program to improve studentsâ€™ Japanese reading comprehension. The professors collected 283 books written for Japanese children and required their students to read at least 40 of them as part of the grade in the course. The books were categorized into reading levels (color-coded for easy selection) according to length and complexity. Complete parts a through c. 23. Researchers investigated the effect of tablet surface area to volume on the rate at which a drug is released in a controlled-release dosage. For six similarly shaped tablets with different weights and thicknesses, the diffusional drug release rate (percentage of drug released divided by the square root of time) was determined. The experimental data are listed in the table. Complete parts a through d. 24. To determine if winning a certain award leads to a change in life expectancy, researchers sampled 748 award winners and matched each one with another person of the same sex who was in the same profession and was born in the same era. The lifespan of each pair was compared. Complete parts a through c below.

25. Many entrepreneurs have donated money to various causes. Data on the total amount pledged and remaining net worth for the 10 top donors are given in the table. Complete parts a through d. 26. When planning for a new forest road to be used for tree harvesting, planners must select the location to minimize tractor skidding distance. The skidding distances (in meters) were measured at 20 randomly selected road sites. The data are given below. A logger working on the road claims the mean skidding distance is atleast 413 meters. Is there sufficient evidence to refute this claim? Use Îą = 0.10. 27. Consider the pairs of measurements shown to the right. 28. For the Îą and observed significance level (p-value) pair, indicate whether the null hypothesis would be rejected. 29. Researchers conducted a survey of a representative sample of over 1,000 drivers. Based on how often each driver engaged in road rage behaviour, a road score was given. The drivers were also grouped by annual income. The data were subjected to an analysis of variance, with the results summarized in the table. There has been a recent trend for sports franchises in baseball, football, basketball and hockey to build new stadiums and ballparks in urban, downtown venues. A magazine investigated whether there has been a significant suburban-to-urban shift in the location of major sport facilities. In 1985 40% of all major sports facilities were located downtown, 30% in central city, and 30% in suburban areas. In contrast, of the 122 major sports franchises that existed in 1997, 65 were built downtown 28 in a central city, and 29 in a suburban area. Complete parts a through e.

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QNT 561 Final Exam Guide (New, 2017)

FOR MORE CLASSES VISIT www.qnt561genius.com 1. James Desreumaux, VP of Human Resources of American First Banks (AFB), is reviewing the employee training programs of AFB banks. His staff randomly selected personnel files for 100 tellers in the Southeast Region and determined that their mean training time was 25 hours. Assume that the population standard deviation is 5 hours. The 95% confidence interval for the population mean of training times is 2. If x is a binomial random variable with n=10 and p=0.8, the mean value of x is______ 3. According to the central limit theorem, for samples of size 64 drawn from a population with Âľ =800 and Ďƒ = 56, the standard deviation of the sampling distribution of sample means would equal ______ 4. Life tests performed on a sample of 13 batteries of a new model indicated: (1) an average life of75 months, and (2) a standard deviation of 5 months. Other battery models, produced by similar processes, have normally distributed life spans. The 98% confidence interval for the population mean life of the new model is _________ 5. A large national company is considering negotiating cellular phone rates for its employees Human Resource department would like to

estimate the proportion of its employee population who own an Apple iPhone. A random sample of size 250 is taken and 40% of the sample own and iPhone.. The 95% confidence interval to estimate the population proportion is _______ 6. The number of bags arriving on the baggage claim conveyor belt in a 3 minute time period would best be modeled with the ________ 7. The weight of a USB flash drive is 30 grams and is normally distributed. Periodically, quanlity control inspectors at Dallas Flash Drives randomly select a sample of 17 USB flash drive. If the mean weight of the USB flash drives is too heavy or too light the machinery is shut down for adjustment; otherwise, the production process continues. The last sample showed a meanand standard deviation of 31.9 and 1.8 grams, respectively. Using a = 0.10, theappropriate decision is_______ 8. Elwin Osbourne, CIO at GFS, Inc., is studying employee use of GFS e-mail for non-business communications. He plans to use a 95% confidence interval estimate of the proportion of e-mail messages that are non-business; he will accept a 0.05 error. Previous studies indicate that approximately 30% of employee e-mail is not business related. Elwin should sample _______ e-mail messages 9. The following frequency distribution was constructed for the wait times in the emergency room The frequency distribution reveals that the wait times in the emergency room are _______ 10. The number of cars arriving at a toll booth in five-minute intervals is Poisson distributed with a mean of 3 cars arriving in fiveminute time intervals. The probability of 5 cars arriving over a fiveminute interval is ________ 11. The number of finance majors within the School of Business is an example of _______ 12. According to the central limit theorem, for samples of size 64 drawn from a population with Âľ = 800 and Ďƒ = 56, the mean of the sampling distribution of

sample means would equal _______ 13. Consider the following null and alternative hypotheses Ho: m â‰¤ 67 Ha: m > 67 These hypotheses ___________ 14. A market research team compiled the following discrete probability distribution on the numberof sodas the average adult drinks each day. In this distribution, x represents the number of sodas which an adult drinks x P(x) 0 0.30 1 0.10 2 0.50 3 0.10 The mean (average) value of x is ______________ 15. A researcher wants to determine the sample size necessary to adequately conduct a study to estimate the population mean to within 5 points. The range of population values is 80 and the researcher plans to use a 90% level of confidence. The sample size should be at least ______ 16. The mean life of a particular brand of light bulb is 1200 hours. If you know that at about 95% of this brand of bulbs will last between 1100 and 1300 hours, then what is the standard deviation of the light bulbsâ€™ life? 17. Completion time (from start to finish) of a building remodeling project is normally distributed with a mean of 200 work-days and a standard deviation of 10 work-days. To be 99% sure that we will not be late in completing the project, we should request a completion time of ______ work-day. 18. A large industrial firm allows a discount on any invoice that is paid within 30 days. Of all invoices, 10% receive the discount. In a company audit, 10 invoices are sampled at random. The probability that fewer than 3 of the 10 sampled invoices receive the discount is approximately_______________. 19. Suppose a population has a mean of 400 and a standard deviation of 24. If a random sample of size 144 is drawn from the population, the probability of drawing a sample with a mean less than 402 is _______ 20. If x is a binomial random variable with n=10 and p=0.8, what is the probability that x is equal to 4 ? 21. The normal distribution is used to test about a population mean for

large samples if the population standard deviation is known. "Large" is usually defined as _______ 22. Lucy Baker is analyzing demographic characteristics of two television programs, Americandol (population 1) and 60 Minutes (population 2). Previous studies indicate no difference in the ages of the two audiences (The mean age of each audience is the same.) Lucy plans to test this hypothesis using a random sample of 100 from each audience. Her null hypothesis is 23. Maureen McIlvoy, owner and CEO of a mail order business for wind surfing equipment and supplies, is reviewing the order filling operations at her warehouses. Her goal is 100% of orders shipped within 24 hours. In previous years, neither warehouse has achieved the goal, but the East Coast Warehouse has consistently out-performed the West Coast Warehouse. Her staff randomly selected 200 orders from the West Coast Warehouse (population 1) and 400 orders from the East Coast Warehouse (population 2), and reports that 190 of the West Coast Orders were shipped within 24 hours, and the East Coast Warehouse shipped 372 orders within 24 hours. Maureen's alternate hypothesis is _______ 24. Ophelia O'Brien, VP of Consumer Credit of American First Banks (AFB), monitors the default rate on personal loans at the AFB member banks. One of her standards is "no more than 5% of personal loans should be in default." On each Friday, the default rate is calculated for a sample of 500 personal loans. Last Friday's sample contained 30 defaulted loans. Ophelia's null hypothesis is _______. 25. Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of a new toothpaste package. Her staff reports that 17% of a random sample of 200 households prefers the new package to all other package designs. If Catherine concludes that 17% of all households prefer the new package, she is using _______. 26. The empirical rule says that approximately

what percentage of the values would be within 2 standard deviations of the mean in a bell shaped set of data 27. Medical Wonders is a specialized interior design company focused on healing artwork. The CEO, Kathleen Kelledy claims that artwork has healing effects for patients staying in a hospital, as measured by reduced length of stay. Her current client is a childrenâ€™s cancer hospital. Kathleen is interested in determining the effect of three different pieces of healing artwork on children. She chooses three paintings (a horse photo, a bright abstract, and a muted beach scene) and randomly assigns six hospital rooms to each painting. Kathleen's null hypothesis is _____________ 28. The expected (mean) life of a particular type of light bulb is 1,000 hours with a standard deviation of 50 hours. The life of this bulb is normally distributed. What is the probability that a randomly selected bulb would last fewer than 940 hours 29. The mean life of a particular brand of light bulb is 1200 hours and the standard deviation is 75 hours. Tests show that the life of the bulb is approximately normally distributed. It can be concluded that approximately 68% of the bulbs will last between _______. 30. A market researcher is interested in determining the average income for families in San Mateo County, California. To accomplish this, she takes a random sample of 300 families from the county and uses the data gathered from them to estimate the average income for families of the entire county. This process is an example of _______. ==============================================

QNT 561 Final Guide (Latest)

FOR MORE CLASSES VISIT www.qnt561genius.com 1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?

2. Which of the following is a characteristic of the F distribution?

3. For a chi-square test involving a contingency table, suppose the null hypothesis is rejected. We conclude that the two variables are __________.

4. A sales manager for an advertising agency believes that there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. What is the dependent variable?

5. Which of the following is most appropriately displayed with a frequency table?

6. The manager of Paul's fruit and vegetable store is considering the purchase of a new seedless watermelon from a wholesale distributor. Since this seedless watermelon costs $4, will sell for $7, and is highly perishable, he only expects to sell between six and nine of them. What is the opportunity loss for purchasing nine watermelons when the demand is for seven watermelons? a)

8

b)

4

c)

12

d)

0

7. A firm offers routine physical examinations as part of a health service program for its employees. The exams showed that 8% of the employees needed corrective shoes, 15% needed major dental work, and 3% needed both corrective shoes and major dental work. What is the probability that an employee selected at random will need either corrective shoes or major dental work? a)

.25

b)

1.00

c)

.50

d)

.20

8. When data is collected using a qualitative, nominal variable, what is true about a frequency distribution that summarizes the data? a)

The upper and lower class limits must be calculated.

b)

The number of classes is equal to the number of variables plus 2.

c)

The â€œ5 to the k ruleâ€? can be applied.

d)

A pie chart can be used to summarize the data.

9. If an ANOVA test is conducted and the null hypothesis is rejected, what does this indicate? a)

The p-value is less than a.

b)

All population means are different.

c)

At least one pair of population means is different.

d)

The population means are equal.

10. A random sample of 20 items is selected from a population. When computing a confidence interval for the population mean, what number of degrees of freedom should be used to determine the appropriate tvalue? a)

25

b)

21

c)

19

d)

20

11. The question, "Should products be withdrawn if even one death is associated with its prescribed use, even if no fault for the tampered product accrues to the manufacturer?" is an example of a(n) _____. a)

strip data mining issue

b)

unresearchable question

c)

ill-defined problem

d)

favored-technique problem

12. A large department store examined a sample of the 18 credit card sales and recorded the amounts charged for each of three types of credit cards: MasterCard, Visa, and Discover. Six MasterCard sales, seven Visa, and five Discover sales were recorded. The store used an ANOVA to test if the mean sales for each credit card were equal. What are the degrees of freedom for the F statistic? a)

2 in the numerator, 15 in the denominator

b)

6 in the numerator, 15 in the denominator

c)

18 in the numerator, 3 in the denominator

d)

3 in the numerator, 18 in the denominator

13. A linear trend equation is used to represent time series values when the data are changing by equal what? a)

amounts

b)

percents and proportions

c)

proportions

d)

percents

14. Which of the following goals should a good survey instrument accomplish? a)

Encourage each participant to provide accurate responses

b)

Encourage participants to be succinct in their responses

c) Encourage participants to answer only those questions they are comfortable answering d) Encourage participants to end the survey when they feel they have contributed enough information

15. Kroger, a grocery store chain, wants to identify the ideal store layout for increasing store sales. Because it primarily uses two store designs, one a grid layout with vertical aisles divided by a center aisle and another using a traditional straight-aisle pattern, Kroger will match pairs of stores that have different designs but similar shopper demographics and location. Sales from each pair will then be compared

to determine if store design is related to sales. Which type of study is this an example of? a)

Exploratory study

b)

Case study

c)

Ex post facto study

d)

Longitudinal study

16. Bones Brothers & Associates prepare individual tax returns. Over prior years, Bones Brothers has maintained careful records regarding the time to prepare a return. The mean time to prepare a return is 90 minutes and the standard deviation of this distribution is 14 minutes. Suppose 100 returns from this year are selected and analyzed regarding the preparation time. What assumption do you need to make about the shape of the population distribution of all possible tax preparation times to make inferences about the mean time to complete a tax form? a)

The population distribution is skewed to the left.

b)

The population distribution is skewed to the right.

c)

The shape of the population distribution does not matter.

d)

The population distribution is normal.

17. Checklists with several items to be considered by respondents may be subject to _____. a)

recency effects

b)

leniency effects

c)

halo effects

d)

primacy effects

18. In a multiple rating list scale, ____. a)

participants rate multiple items on a 3-point scale

b)

the participant is restricted to circling their rating

c) it is possible to visualize the results better than with other numerical scales d)

the data generated are always ordinal

19. As the size of the sample increases, what happens to the shape of the distribution of sample means? a)

It cannot be predicted in advance

b)

It is positively skewed

c)

It is negatively skewed

d)

It approaches a normal distribution

20. For any chi-square goodness-of-fit test, the number of degrees of freedom is found by ______. a)

n+k

b)

k -1

c)

nâ€“k-1

d)

n+1

21. BankChoice is concerned about stagnating profits and asks, "How can profitability be improved?" This is an example of a(n) _____. a)

research question

b)

measurement question

c)

management question

d)

investigative question

22. A machine is set to fill the small-size packages of M&M candies with 56 candies per bag. A sample revealed three bags of 56, two bags of 57, one bag of 55, and two bags of 58. To test the hypothesis that the mean candies per bag is 56, how many degrees of freedom are there? a)

1

b)

7

c)

9

d)

8

23. An experimental study is one that _____.

a) attempts to reveal why or how one variable produces changes in another b) involves manipulation of one or more variables to determine the effect on another variable c) attempts to capture a population's characteristics by making inferences from a sample's characteristics and testing resulting hypotheses d) discovers answers to the questions who, what, when, where, or how much

24. The monthly salaries of a sample of 100 employees were rounded to the nearest $10. They ranged from a low of $1,040 to a high of $1,720. If we want to condense the data into seven classes, what is the most convenient class interval? a)

$200

b)

$50

c)

$150

d)

$100

25. Consider a regression analysis, where the correlation coefficient is 0.18. Then, the coefficient of determination is _______. a)

.0324

b)

.36

c)

1.16

d)

.424

26. In multiple regression analysis, when the independent variables are highly correlated, this situation is called __________________. a)

homoscedasticity

b)

curvilinearity

c)

multicollinearity

d)

autocorrelation

27. Sam's Club installed self-checkout stations that can track not only member's purchases but also packaging problems, as the system uses universal product codes to match the item the shopper has in their cart with its price and inventory level in the store, generating a spreadsheet style report for the researcher. If you consider the scanner as the tool for collecting data for Sam's researchers, they are doing data entry by ____. a)

spreadsheet

b)

Optical Character Recognition

c)

Field editing

d)

Voice recognition

28. The weekly incomes of a large group of executives are normally distributed with a mean of $2,000 and a standard deviation of $100. What is the z-score for an income of $2,100? a)

1.683

b)

0.90

c)

2.00

d)

1.00

29. A ranking scale is a scale that _____. a) scores an object without making a direct comparison to another object b)

groups participants

c)

groups concepts according to specific criteria

d) scores an object by making a comparison and determining order among two or more objects

30. What is the interpretation of a 96% confidence level? a)

The interval contains 96% of all sample means.

b) Approximately 96 out of 100 such intervals would include the true value of the population parameter. c) There's a 96% chance that the given interval includes the true value of the population parameter.

d) There's a 4% chance that the given interval does not include the true value of the population parameter.

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QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions (Consumer Food)

FOR MORE CLASSES VISIT www.qnt561genius.com Purpose of Assignment The purpose of this assignment to orient students to the key concepts in statistics. This assignment will introduce students to the language of statistics. Students will also get a chance to warm-up on evaluating some basic descriptive statistics using Excel® prior to the course start. Assignment Steps This assignment has an Excel dataset spreadsheet attached. Resource: Microsoft Excel, Statistics Concepts and Descriptive Measures Data Set Download the Statistics Concepts and Descriptive Measures Data Set. Choose: • Financial Answer each of the following in a total of 90 words: • For each column, identify whether the data is qualitative or quantitative. • Identify the level of measurement for the data in each column. • For each column containing quantitative data: • Evaluate the mean and median • Interpret the mean and median in plain non-technical terms • Use the Excel =AVERAGE function to find the mean • Use the Excel =MEDIAN

function to find the median • For each column containing quantitative data: • Evaluate the standard deviation and range • Interpret the standard deviation and range in plain non-technical terms • Use the Excel =STDEV.S function to find the standard deviation • For range (maximum value minus the minimum value), find the maximum value using the Excel =MAX function and find the minimum value using the Excel's =MIN function Annual Food Spending ($) Annual Household Income ($) Non mortgage household debt ($) 8909 56697 23180 5684 35945 7052 10706 52687 16149 14112 74041 21839 13855 63182 18866 15619 79064 21899 2694 25981 8774 9127 57424 15766 13514 72045 27685 6314 38046 8545 7622 52408 28057 4322 41405 6998 3805 29684 4806 6674 49246 13592 7347 41491 4088 2911 26703 15876 8026 48753 16714 8567 55555 16783 10345 71483 21407 8694 50980 19114 8821 46403 7817 8678 51927 14415 14331 84769 17295 9619 59062 16687 9286 57952 14161 8206 58355 19538 16408 81694 15187 12757 69522 14651 17740 96132 0 ==============================================

QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions (Financial Data)

FOR MORE CLASSES VISIT www.qnt561genius.com

Purpose of Assignment The purpose of this assignment to orient students to the key concepts in statistics. This assignment will introduce students to the language of statistics. Students will also get a chance to warm-up on evaluating some basic descriptive statistics using Excel® prior to the course start. Assignment Steps This assignment has an Excel dataset spreadsheet attached. Resource: Microsoft Excel, Statistics Concepts and Descriptive Measures Data Set Download the Statistics Concepts and Descriptive Measures Data Set. Choose: • Financial Answer each of the following in a total of 90 words: • For each column, identify whether the data is qualitative or quantitative. • Identify the level of measurement for the data in each column. • For each column containing quantitative data: • Evaluate the mean and median • Interpret the mean and median in plain non-technical terms • Use the Excel =AVERAGE function to find the mean • Use the Excel =MEDIAN function to find the median • For each column containing quantitative data: • Evaluate the standard deviation and range • Interpret the standard deviation and range in plain non-technical terms • Use the Excel =STDEV.S function to find the standard deviation • For range (maximum value minus the minimum value), find the maximum value using the Excel =MAX function and find the minimum value using the Excel's =MIN function Company Type Total Revenues AFLAC 6 7251 Albertson's 4 14690 Allstate 6 20106 Amerada Hess 7 8340 American General 6 3362 American Stores 4 19139 Amoco 7 36287 Arco Chemical 2 3995 Ashland 7 14319 Atlantic Richfield 7 19272 Bausch & Lomb 5 1916 Baxter International 5 6138 Bristol-Myers Squibb 5 16701 Burlington Coat 1 1777 Central Maine Power 3 954 Chevron 7 41950 CIGNA 6 14935 Cinergy 3 4353 Dayton Hudson 1 27757 Dillard's 1 6817 Dominion Resources 3 7678 Dow Chemical 2 20018 DPL 3 1356 E. I.

DuPont DeNemours 2 46653 Eastman Chemical 2 4678 Edison International 3 9235 Engelhard 2 3631 Entergy 3 9562 Equitable 6 9666 ==============================================

QNT 561 Week 1 DQ 1

FOR MORE CLASSES VISIT www.qnt561genius.com How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.

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QNT 561 Week 1 DQ 2

FOR MORE CLASSES VISIT www.qnt561genius.com

When would you use Chebyshev’s theorem and the empirical rule in business? How are they calculated? Provide one real-life example that requires Chebyshev’s theorem and one that requires the empirical rule. ==============================================

QNT 561 Week 1 Individual My Statslab Problem Set

FOR MORE CLASSES VISIT www.qnt561genius.com 1.

What is statistics?

2. Explain the difference between descriptive and inferential statistics. 3.

Explain the difference between qualitative and quantitative data.

4.

Explain how populations and variables differ.

5.

Explain how populations and samples differ.

6.

What is a representative sample?

7.

Explain the difference between a population and a process.

8.

Define statistical thinking.

9. Suppose you’re given a data set that classifies each sample unit into one of four categories: A, B, C or D. You plan to create a computer database consisting of these data, and you decide to code the data as A

= 1, B = 2, C = 3 and D = 4. Are the data consisting of the classifications A, B, C and D qualitative or quantitative? After the data are in out as 1, 2, 3, or 4, are they qualitative or quantitative? 10. Identify each of the following variables as qualitative or quantitative. 11. Each month interviewers visit about 69,000 of the 93 million households in the region and question the occupants over 18 years of age about their educational status. Their responses enable the interviewers to estimate the percentage of people in the labor force who are college educated. Compare parts a through c. 12. Complete the table to the right? 13. In one university, language professors incorporated a 10-week extensive program to improve students’ Japanese reading comprehension. The professors collected 283 books originally written for Japanese children and required their students to read at least 40 of them as part of the grade in the course. The books were categorized into reading levels (color-coded for easy selection) according to length and complexity. Complete parts a through c. 14. A group of marketing professors asked every fourth adult entrant to a mall to participate in a study. A total of 119 shoppers agreed to answer the question, “Made locally” means what percentage of local labor and materials?” The responses of the 119 shoppers are summarized in the table to the right. Complete parts a through c below. 15. Graph the relative frequency histogram for the 300 measurements summarized in the relative frequency table to the right.

16. If jobs arrive at a particular work center at a faster rate than they depart, the work center impedes the overall production process and is referred to as a bottleneck. The data in the table were collected by an operations manager for use in investigating a potential bottleneck work center. 17. A data set contains the observations 3, 5, 4, 2, 3. Find the following values. 18. Calculate the mean and Median of the following grade point averages. 2.5

2.9

3.6

2.6

3.2

3.7

19. Five banks have been ranked by the amount charged to credit and debit cards issued by the banks. The table to the right gives the total amount charged in 2007 for the top ranked banks. 20. The data on the age (in years) of each of the 20 most powerful women in a region are shown below. 49

62

52

……………………………………….64

21. The salaries of superstar professional athletes receive much attention in the media. The multimillion-dollar long-term contract is now commonplace among this elite group. Nevertheless, rarely does a season pass without negotiations between one or more of the players’ associations and team owners for additional salary and fringe benefits for all players in their particular sports. Complete parts a and b below. 22. Calculate the range, variance, and standard deviation for the following sample.

3, -3,2,……………….4 23. A university’s language professors incorporated a 10-week extensive redaing program into a second-semester Japanese language course in an effort to improve students’ Japanese reading comprehension. Fourteen students participated in this reading program. Complete parts a through c. 24. A country’s Energy Information Administration monitors all nuclear power plants operating in that country. The table to the right lists the number of active nuclear power plants operating in each of a sample of 10 states. 25. A study of 100,000 first-time candidates for the CPA exam found that the mean number of semester hours of college credit taken by the candidates was 144.58 hours. The standard deviation was reported to be 15.73 hours. Complete parts a through c. 26. Compute the z-score corresponding to each of the values of x below. 27. Compare the z-scores to decide which of the x values below lie the greatest above the mean and the greatest distance below the mean. 28. A sample data set has a mean of 74 and a standard deviation of 10. Determine whether each of the following sample measurements are outliers. 29. Consider the horizandal box shown to the right. 30. Educators are constantly evaluating the efficacy of public schools in the education and training of students. One quantitative assessment of change over time is the difference in scores on the SAT. The table below

contains the average SAT scores for 10 states for the years 1988 and 2005. 31. Data on annual rainfall, maximum daily temperature, percentage of planet cover, and number of anti species recorded at each of 11 study sites are given in the accompanying table. Complete parts a through c. 32. Determine whether the random variable is discrete or continuous. 33. The random variable x has the following discrete probability distribution. Complete parts a through f. 34. X intercept, y intercept 35. If x is a binomial random variable, compute p(x) for each of the cases below. 36. According to a business magazine, 30% all small businesses owned by non-Hispanic whites nationwide are women-owned firms. 37. According to a certain golf association, the weight of the golf ball ball shall not be greater than 1.620 ounces (45.93 grams). The velocity of the ball shall not be greater than 250 feet per second. The golf association periodically checks the specifications of golf balls using sampling. Five dozen of each kind are sampled, and if more than three do not meet size or velocity requirements, that kind of ball is removed from the golf associationâ€™s approved list. Complete parts a and b. 38. Find the area under the standard normal probability distribution between the following pairs of z-scores.

39. Suppose the random variable x is the best described by a normal distribution with Âľ = 32 and = 5. Find the z-score that corresponds to each of the following x-values. 40. The mean gas mileage for a hybrid car is 56 miles per gallon. Suppose that the gasoline mileage is approximately normally distributed with a standard deviation of 3.2 miles per gallon. 41. Personnel tests are designed to test a job applicantâ€™s cognitive and/or physical abilities. A particular dexterity test is administered nationwide by a private testing service. It is known that for all tests administered last year, the distribution of scores was approximately normal with mean 76 and standard deviation 7.8. 42. Determine evidence to support or contradict the assumption that the data to the right come from an approximately normal distribution. 43. An airport terminal handles an average of 3,000 international passengers an hour, but is capable of handling twice that number. Also after scanning all luggage, 20% arriving international passengers are detained for intrusive luggage inspection. The inspection facility can handle 500 passengers an hour without unreasonable delays for the travelers. Complete parts a through c. 44. Will the sampling distribution of always be approximately normally distributed? Explain. 45. The number of semester hours of college credit taken by first-time candidates for a certain professional exam has a distribution with a mean of 127 hours and a standard deviation of 14 hours. Consider a random sample of 100 first-time candidates for the exam and let

represent the mean number of hours of college credit taken for the sample. Complete parts a through e below. . ==============================================

QNT 561 Week 1 Lab Work (New)

FOR MORE CLASSES VISIT www.qnt561genius.com Chapter 2:

Ex 4) Two Thousand three hundred frequent business travelers are asked which Midwestern city they prefer: Indianapolis, Saint Louis, Chicago or Milwaukee. 388 liked Indianapolis best, 450 liked Saint Louis, 1212 liked Chicago and the remainder prefers Milwaukee. Develop a frequency table and a relative frequency table to summarize this information (Round relative frequency to 3 decimal places.)

Ex 6) A small business consultant is investigating the performance of several companies. The fourth-quarter sales for last year (in thousands of dollars) for the selected companies were:

The consultant wants to include a chart in his report comparing the sales of six companies. Identify a bar chart that compares the fourthquarter sales of these corporations.

Ex 12) the quick change oil company has a number of outlets in the metropolitan Seattle area. The daily number of oil changes at the Oak Street outlet in the past 20 days is: a.

How many classes would you recommend?

d. Organize the number of oil changes into a frequency distribution.

Ex 14) the food services division of Cedar River Amusement Park Inc, is studying the amount that families who visit the amusement park spend per day on food and drink. A sample of 40 families who visited the park yesterday revealed they spend the following amounts: a. Organize the data into a frequency distribution, using seven classes and 15 as the lower limit of the first class. What class interval did you select? b.

Where do the data tend to cluster?

Ex 18) Ecommerce.com, a large Internet retailer, is studying the lead time (elapsed time between when an order is placed and when it is filled) for a sample of recent orders. The lead time are reported in days. a.

How many orders were studied?

b.

What is the midpoint of the first class?

c. What are the coordinates of the first class for a frequency olygon assuming we draw a frequency polygon using the midpoints?

Ex 20) The following cumulative frequency polygon shows the selling price ($000) of house sold in the Billings, Montana, area a.

How many orders were studied?

b.

What is the class interval?

c.

One hundred homes sold for less than what amount?

d.

About 75% of the homes sold for less than what amount?

e.

Estimate the no of homes $150,000 up to $200,000 class.

f.

About how many homes sold for less than $225,000?

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QNT 561 Week 2 Case Study MBA Schools in Asia Pacific

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Review the Case Study: MBA Schools in Asia-Pacific and the Case Study: MBA Schools in Asia-Pacific data set. Prepare a 1,050-word managerial report for your boss. Use the following questions for guidelines and directions on what to include in the report: 1. What is the type of data (Quantitative or Qualitative) for each of the columns (variables) in the dataset? If quantitative, is the data discrete or continuous? Neatly summarize your response in a table for all the columns (variables). 2. Using Excel, find the mean, median, standard deviation, minimum, maximum, and the three quartiles for each of the quantitative variables identified in part 1 above. Neatly summarize in a table on this document. Comment on what you observe. 3. What are the minimum and maximum full-time enrollments? Which schools have the minimum and maximum full-time enrollments? 4. What is the average number of students per faculty member? Is this low or high? What does this mean to prospective applicants who are interested in pursuing an MBA in one of the leading international business schools? 5. What are the mean, median, and modal ages? What does this mean to prospective applicants? 6. What is the mean percentage of foreign students? How many and which schools have 1% and 0% foreign students? Which schools have highest percentage of foreign students? Please state these percentages. 7. What percentage of schools require the GMAT test? 8. What percentage of schools require English tests such as Test of English as a Foreign Language (TOEFL)? 9. What percentage of schools require work experience? From this percentage, does this appear to be a significant factor in gaining admissions? 10. What are the mean and median starting salaries? Which schools have the minimum and maximum starting salaries? How much are these minimum and maximum salaries? 11. What are the mean tuition for foreign students

and for local students? Does there appear to be a significant difference? What is the difference between the two means? 12. How many schools require work experience and how many of them don't? What is the mean starting salary for schools requiring work experience? What is the mean starting salary for schools requiring no work experience? 13. How many schools require English tests and how many don't? What is the mean starting salary for schools requiring English tests? What is the mean starting salary for schools requiring no English tests? 14. Does there appear to be a correlation between age and starting salaries? Comment on the strength and the direction of the correlation. 15. Comment on the skewness for the data on starting salaries: 1. Plot a histogram and determine the skewness. 2. Find the skewness coefficient. 3. Find the mean, median, and mode for starting salaries and compare the three measures to determine skewness. 16. Finally, use Empirical Rule on the starting salaries and determine whether the salaries follow the Empirical Rule. The pursuit of a higher education degree in business is now international. A survey shows more and more Asians choose the master of business administration (MBA) degree route to corporate success. As a result, the number of applicants for MBA courses at Asia-Pacific schools continues to increase. Across the region, thousands of Asians show an increasing willingness to temporarily shelve their careers and spend two years in pursuit of a theoretical business qualification. Courses in these schools are notoriously tough and include statistics, economics, banking, marketing, behavioral sciences, labor relations, decision making, strategic thinking, business law, and more. After your MBA, you get a job at Bloomberg in its media division, Bloomberg Business. Your division publishes reviews and rankings for business schools in the US and internationally. Because

of your strong analytical education from University of Phoenix, your boss assigns you to work on preparing an analysis for data gathered for leading business schools in the Asia-Pacific. The data set in the ExcelÂŽ file shows some of the characteristics of the leading Asia-Pacific business schools. ==============================================

QNT 561 Week 2 DQ 1

FOR MORE CLASSES VISIT www.qnt561genius.com What are some examples of operational definitions in research design within your profession? For example, in the education field, graduation rate and retention rate are important operational definitions to measure progress of students. Likewise other professions have common metrics and definitions. Identify some metrics and operational definitions from your own career or a profession that you know well. Tell us why you think it is important! ==============================================

QNT 561 Week 2 DQ 2

FOR MORE CLASSES VISIT www.qnt561genius.com What is the purpose of sampling? What are some concerns and dangers of sampling? How important is the sample design to data validity? Explain. Provide an example where a sample might misrepresent data validity. For example, reflect on the current political campaign and the pollsters!

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QNT 561 Week 2 Individual My Statslab Problem Set

FOR MORE CLASSES VISIT www.qnt561genius.com 1. A random sample of 87 observations produced a mean = 25.7 and a standard deviation s = 2.6. 2. Health care workers who use latex gloves with glove powder on a daily basis are particularly susceptible to developing a latex allergy. Each in a sample of 50 hospital employees who were diagnosed with a latex allergy based on a skin-prick test reported on their exposure to latex gloves. Summary statistics for thr number of latex gloves used per week are = 19.4 and s = 11.6. Complete parts (a) â€“ (d).

3. Each child in a sample of 62 low-income children was administered a language and communication exam. The sentence complexity scores had a mean of 7.63 and a standard deviation of 8.92. Complete parts a through d. 4. The random sample shown below was selected from a normal distribution. 4, 10, 7,â€Ś.2. Complete parts a and b. 5. Periodically, a town water department tests the drinking water of homeowners such as lead. The lead levels in water specimens collected for a sample of 10 residents of the town had a mean of 3.1 mg/L and a standard deviation of 1.2 mg/L. Complete parts a through c. 6.

A random sample of size n = 250 yielded = 0.20.

7. A newspaper reported that 50% of people say that some coffee shops are overpriced. The source of this information was a telephone survey of 40 adults. 8. An accounting firm annually monitors a certain mailing serviceâ€™s performance. One parameter of interest is the percentage of mail delivered on time. In a sample of 303,000 items mailed between Dec. 10 and Mar. 3__ the most difficult delivery season due to bad weather and holidays__ the accounting firm determined that 245,200 items were delivered on time. Use this information to make a statement about the likelihood of an item being on time by that mailing service. 9. Suppose oyuâ€™re given a data set that classifies each sample unit into one of four categories: A, B, C, or D. You plan to create a computer database consisting of these data, and you decide to code the data as A

= 1, B = 2, C = 3, and D = 4. Are the data consisting of the classifications A, B, C and D qualitative or Quantitative? After the data are input as 1, 2, 3, or 4, are they qualitative or Quantitative? 10. In one university, language professors incorporated a 10-week extensive program to improve studentsâ€™ Japanese reading comprehension. The professors collected 262 books originally written for Japanese children and required their students to read at least 40 of them as part of the grade in the course. The books were categorized into reading levels (color-coded for easy selection) according to length and complexity. Complete parts a through c. 11. Use the relative frequency table shown to the right to calculate the number of the 400 measurements failing into each of the measurements classes. Then graph a frequency histogram for these data. 12. Five banks have been ranked by the amount charged to credit and debit cards issued by the banks. The table to the right gives the total amount charged in 2007 for the top ranked banks. 13. Compare the z-scores to decide which of the x values below lie the greatest above the mean and the greatest distance below the mean. 14. Consider the horizandal box plot shown to the right. 15. Educators are constantly eveluating the efficacy of public schools in the education and training of tudents. One quantitative assessment of change over time is the difference in scores on the SAT. The table below contains the average SAT scores for 10 states for the years 1988 and 2005.

16. The mean gas mileage for a hybrid car is 56 miles per gallon. Suppose that the gasoline mileage is approximately normally distributed with a standard deviation of 3.2 miles per gallon.

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QNT 561 Week 2 Lab Work (New)

FOR MORE CLASSES VISIT www.qnt561genius.com Chapter 5: Ex 4) A large company must hire a new president. The Board of Directors prepares a list of five candidates, all of whom are equally qualified. Two of these candidates are members of a minority group. To avoid bias in the selection of the candidate, the company decides to select the president by lottery. a. What is the probability one of the minority candidate is hired? b. Which concept of probability did you use to make this estimate? Ex 14) The chair of the board of directors says, â€œ There is a 50% chance this company will earn a profit, a 30% chance it will break even, and a 20% chance it will lose money next quarterâ€?: a. Use an addition rule to find the probability the company will not lose money next quarter b. Use the complement rule to find the probability it will not lose money next quarter. EX 22 ) A National Park Service survey of visitors to the Rocky Mountain region revealed that 50% visit Yellowstone park, 40% visit the Tetons, and 35% visit both. a) What is

the probability a vacationer will visit at least one of these attractions? b) What is the probability .35 called? c) Are the events mutually exclusive? Ex 40) Value : 10.00 Points Solve the following: a) 20!/17! b) 9P3 c) 7C2 Ex 34) Use Bayesâ€™ theorem to determine P(A3| B1) Chapter 6: Ex 4) Which of these variables are discrete and which are continuous random variables? a. The number of new accounts established by a salesperson b. The time between customer arrivals to a bank ATM c. The number of customers in Big Nickâ€™s barber shop d. The amount of fuel in your carâ€™s gas tank EX. 14) The U.S postal service reports 95% of first-class mail within the same city is delivered within 2 days of the time of mailing. Six letters are randomly sent to different locations. a) What is the probability that all six arrive within 2 days? b) What is the probability that will arrive within 2 days. c) Compute the variance of the number that will arrive within 2 days. d) Compute the standard deviation of the number that will arrive within 2 days. Ex 20) Binomial Distribution EX. 26) A Population consists of 15 items, 10 of which are acceptable. In a sample of four items, what is the probability that exactly three are acceptable? Assume the samples are drawn without replacement. Chapter 7: Ex 4) According to the insurance institute of America, a family of four spends between $400 and $3,800 per year on all type of insurance. Suppose the money spent is uniformly distributed between these amounts. a. What is the mean amount spent on insurance? b. What is S.D of the amount spent? c. If we select a family at random, What is the probability they spend less than $2,000 per year on insurance per year? d. What is the probability a family spends more than $3,000 per year? EX.10)The mean of a normal probability distribution is 60; the standard deviation is 5. a) About what percent of the observations lie between 55 and 65? b) About what percent of the

observations lie between 50 and 70? c) About what percent of the observations lie between 45 and 75? Ex 14) A normal population has a mean of 12.2 and a standard deviation of 2.5 a. Complete the z value associated with 14.3 b. What proportion of the population is between 12.2 and 14.3? c. What proportion of the population less than 10? Ex 18) A normal population has a mean of 80.0 and a standard deviation of 14.0 a. Compute the probability of a value between 75.0 and 9.0 b. Compute the probability of a value of 75.0 or less c. Compute the probability of a value between 55.0 and 70.0 EX. 28) For the most recent year available, the mean annual cost to attend a private university in the united States was $26,889. Assume the distribution of annual costs follows the normal probability distribution and the standard deviation is $4,500. Ninety-five percent of all students at private universities pay less than what amount? ==============================================

QNT 561 Week 2 Team Assignment Business Research Project Part 1 Business Problem and Research Questions

FOR MORE CLASSES VISIT www.qnt561genius.com Identify an organization or business for your Learning Team research project. Describe the products or services it provides.

Identify a problem or dilemma faced by the organization that could be addressed by research. Discuss the problem as a team. Discuss your selected problem or dilemma with your faculty member to ensure that it is at an appropriate scope for the course. Develop a purpose statement for your research project. Create a draft of the research questions addressing the problem and purpose statements. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. ==============================================

QNT 561 Week 2 Team Assignment Business Research Project Part 1 Formulation of the Research Problem

FOR MORE CLASSES VISIT www.qnt561genius.com Identify an organization from any member in your Learning Team or an organization with which your team is familiar. If an actual company is used, disguise its name with a pseudonym.

Identify one independent variable and one dependent variable based on the business. Operationalize these variables if they are too abstract to measure. Develop a real or realistic research question for the company you chose and the two variables. Include a background, a business problem and the team's role of no more than 500 words. Develop a research question from the two variables. Keep you research question simple, easy to understand and able to be quantified with research data. ď‚ˇ

Use the Research Question Two Variable Handout for guidance.

Create hypothesis statements based on the research question. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

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QNT 561 Week 3 Assignment Expansion Strategy and Establishing a Re-Order Point

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Learning team paper Purpose of Assignment This assignment has two cases. The first case is on expansion strategy. Managers constantly have to make decisions under uncertainty. This assignment gives students an opportunity to use the mean and standard deviation of probability distributions to make a decision on expansion strategy. The second case is on determining at which point a manager should re-order a printer so he or she doesn't run out-of-stock. The second case uses normal distribution. The first case demonstrates application of statistics in finance and the second case demonstrates application of statistics in operations management. Assignment Steps Resources: Microsoft ExcelÂŽ, Bell Computer Company Forecasts data set, Case Study Scenarios Write a 1,050-word report based on the Bell Computer Company Forecasts data set and Case Study Scenarios. Include answers to the following: Case 1: Bell Computer Company Compute the expected value for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of maximizing the expected profit? Compute the variation for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of minimizing the risk or uncertainty? Case 2: Kyle Bits and Bytes What should be the re-order point? How many HP laser printers should he have in stock when he re-orders from the manufacturer? Format your assignment consistent with APA format. ==============================================

QNT 561 Week 3 Case Study SuperFun Toys

FOR MORE CLASSES VISIT www.qnt561genius.com Individual Paper: Purpose of Assignment The purpose of this assignment is for students to learn how to make managerial decisions using a case study on Normal Distribution. This case uses concepts from Weeks 1 and 2. It provides students an opportunity to perform sensitivity analysis and make a decision while providing their own rationale. This assignment also shows students that statistics is rarely used by itself. It shows tight integration of statistics with product management. Assignment Steps Develop a 1,050-word case study analysis including the following: • Use the sales forecaster’s prediction to describe a normal probability distribution that can be used to approximate the demand distribution. • Sketch the distribution and show its mean and standard deviation. Hint: To find the standard deviation, think Empirical Rule covered in Week 1. • Compute the probability of a stock-out for the order quantities suggested by members of the management team (i.e. 15,000; 18,000; 24,000; 28,000). • Compute the projected profit for the order quantities suggested by the management team under three scenarios: pessimistic in which sales are 10,000 units, most likely case in which sales are 20,000 units, and optimistic in which sales are 30,000 units. One of SuperFun’s managers felt the profit potential was so great the order quantity should have a 70% chance of meeting demand and only a 30% chance of any stock- outs. What quantity would be ordered under this policy, and what is the projected profit under the three sales scenarios? SuperFun Toys, Inc., sells a variety of new and innovative children’s toys. Management learned the pre-holiday season is the best time to introduce a new toy because many families use this time to look for new

ideas for December holiday gifts. When SuperFun discovers a new toy with good market potential, it chooses an October market entry date. To get toys in its stores by October, SuperFun places one-time orders with its manufacturers in June or July of each year. Demand for children’s toys can be highly volatile. If a new toy catches on, a sense of shortage in the marketplace often increases the demand to high levels and large profits can be realized. However, new toys can also flop, leaving SuperFun stuck with high levels of inventory that must be sold at reduced prices. The most important question the company faces is deciding how many units of a new toy should be purchased to meet anticipated sales demand. If too few are purchased, sales will be lost; if too many are purchased, profits will be reduced because of low prices realized in clearance sales. This is where SuperFun feels that you, as an MBA student, can bring value. For the coming season, SuperFun plans to introduce a new product called Weather Teddy. This variation of a talking teddy bear is made by a company in Taiwan. When a child presses Teddy’s hand, the bear begins to talk. A built-in barometer selects one of five responses predicting the weather conditions. The responses range from “It looks to be a very nice day! Have fun” to “I think it may rain today. Don’t forget your umbrella.” Tests with the product show even though it is not a perfect weather predictor, its predictions are surprisingly good. Several of SuperFun’s managers claimed Teddy gave predictions of the weather that were as good as many local television weather forecasters. As with other products, SuperFun faces the decision of how many Weather Teddy units to order for the coming holiday season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000, or 28,000 units. The wide range of order quantities suggested indicates considerable

disagreement concerning the market potential. Having a sound background in statistics and business, you are required to perform statistical analysis and the profit projections which is typically done by the product management group. You want to provide management with an analysis of the stock-out probabilities for various order quantities, an estimate of the profit potential, and to help make an order quantity recommendation. SuperFun expects to sell Weather Teddy for $24 based on a cost of $16 per unit. If inventory remains after the holiday season, SuperFun will sell all surplus inventories for $5 per unit. After reviewing the sales history of similar products, SuperFunâ€™s senior sales forecaster predicted an expected demand of 20,000 units with a 95% probability that demand would be between 10,000 units and 30,000 units. One of SuperFun's managers felt the profit potential was so great the order quantity should have a 70% chance of meeting demand and only a 30% chance of any stock- outs. What quantity would be ordered under this policy, and what is the projected profit under the three sales scenarios? ==============================================

QNT 561 Week 3 DQ 1

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In your organizationâ€™s management development program, there was a heated discussion between people who claimed that theory is impractical and not effective, and others who claimed that effective theory is the most practical approach to problems. What position would you take and why? ==============================================

QNT 561 Week 3 DQ 2

FOR MORE CLASSES VISIT www.qnt561genius.com You observe female sales representatives having lower customer defections than male sales representatives. What concepts and constructs would you use to study this phenomenon? How might the concepts or constructs relate to explanatory hypotheses? Explain. ==============================================

QNT 561 Week 3 Individual Mystatslab Problem Set

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1. Which hypothesis, the null or the alternative, is the status-quo hypothesis? 2. A university economist conducted a study of elementary school lunch menus. During the state-mandated testing period, school lunches averaged 890 calories. The economist claimed that after the testing period ended, the average caloric content of the school lunches increased/dropped significantly. Set up the null and alternative hypothesis to test the economistâ€™s claim. 3. Suppose the mean GPA of all students graduating from a particular university in 1975 was 2.40. The register plans to look at records of graduating last year to see if the mean GPA has decreased. Define notation and state the null and alternative hypothesis for this investigation. 4. A random sample of 100 observations from a population with standard deviation 58 yielded a sample mean of 111. Complete parts a through c. 5. A final scores of games of a certain sport were compared against the final point spreads established by oddsmakers. The difference between the game outcome and point spread (called a point-spread error) was calculated for 250 games. The mean and standard deviation of the point-spread errors are = 1.7 and s = 13.1. Use this information to test the hypothesis that the true mean point-spread error for all games differs from 0. Conduct the test at Îą = 0.10 and interpret the result. 6. If a hypothesis test were conducted using Îą = 0.025, for which of the following p-values would the null hypothesis be rejected?

7. For the α and observed significance level (p-value) pair, indicate whether the null hypothesis would be rejected. α = 0.10, p-value = 0.001 8. In a test of the hypothesis H0:µ = 40 versus Ha: µ ≠ 40, a sample of n = 50 observations possessed mean = 40.7 and standard deviation s = 3.8. Find the p-value for this test. 9. In a study it was found that the averge age of cable TV shoppers was 55 years. Suppose you want to test the null hypothesis, H0:µ = 55, using a sample of n = 60 cable TV shoppers. 10. A sample of seven mesurements, randomly selected from a normally distributed population, resulted in the summary statistics = 4.6 and s = 1.2. Complete parts athrough c. 11. A study analysis recent incidents involving terrorist attacks. Data on the number of individual suicide bombings that occurred in each of 20 sampled terrorist group attcks against a country is reproduced in the data table below. An Excel/DDXL printout is shown to the right. Complete parts a through e. 12. When planning for a new forest road to be used for tree harvesting, planners must select the location to minimize tractor skidding distance. The skidding distances (in meters) were measured at 20 randomly selected road sites. The data are given below. A logger working on the road claims the mean skidding distance is atleast 424 meters. Is there sufficient evidence to refute this claim? Use α = 0.10 / α = 0.01. 13. For the binomial sample sizes and null hypothesized values of p in each part, determine whether the sample size is large enough to meet

the required conditions for using the normal approximation to conduct a valid large-sample hypothesis test of the null hypothesis H0: p = p0. Complete parts a through e. 14. Suppose a consumer group rated 49 brands of toothpaste based on whether or not the brand carries an American Dental Association (ADA) seal verifying effective decay prevention. The results of a hypothesis test for the proportion of brands with the seal are shown to the right. Complete parts a through c. 15. In order to compare the means of two populations, independent random samples of 410 observations are selected from each population, with the results found in the table to the right. Complete parts a through e. 16. To use the t-statistic to test for a difference between the means of two populations, what assumptions must be made about the two populations? About the two samples? 17. 18. Independent random samples are selected from two populations and are used to test the hypothesis H0: (µ1 - µ2) = 0 against the alternative Ha: (µ1 - µ2) ≠ 0. An analysis of 234 observations from population 1 and 310 from population 2 yielded a p-value of 0.113. Complete parts a and b below. 19. A study was done to examine whether the perception of service quality at hotels differd by gender. Hotel guests were randomly selected to rate service items on a 5-point scale. The sum of the items for each guest was determined and a summary of the guest scores are provided in the table. Complete parts a and b.

20. To determine if winning a certain award leads to a challenge in life expectancy, researches sampled 748 award winners and matched each one with another person of the same sex who was in the same profession and was born in the same era. The lifespan of each pair was compared. Complete parts a through c below. 21. A new testing method was developed to reduce a certain ratio. The data in the table show the ratios that resulted from testing six components using the standard method and the new method. Compare the two methods with a 90% confidence interval. Which method has the smaller mean ratio? 22. Consider making an interference about p1 – p2 , where there are x1 successes in n1 binomial trails and x2succeseses in n2 binomial trails. 23. Construct a 90% confidence interval for (p1 – p2) in each of the following situations. 24. In auction bidding the “winner’s curse” is the phenomenon of the winning (or highest) bid price being above the expected value of the item being auctioned. A study was conducted to see if less-experienced bidders were more likely to be impacted by the curse than superexperienced biders. The study showed that of the 180 bids by superexperienced bidders, 26 winning bids were above the item’s expected value, and of the bids by the 140 less-experienced bidders, 31 winning bids were above the item’s expected value. Complete parts athrough d. 25. School buying is a form of aggressive behavior that occurs when a student is exposed repeatedly to negative actions from another student. In order to study the effectivenss of an antibullying policy at elementary schools, a survey of over 2,000 elementary school children was

conducted. Each student was asked if he or she ever bullied another student. In a sample of 1358 boys, 745 Claimed they had never bullied another student. In a sample of 1379 girls, 966 claimed they had never bullied another student. Complete parts a through f below. 26. A study was conducted to determine the demographics of two types of product managers. Independent samples of n1 = 99 consumer/commercial group, 41%( 1) of the product managers are 40 years of age or older; in the industrial group, 55%( 2) are 40 or more years old. Make an interference about the differnce between the true proportions of consumer/commercial and industrial product managers who are at least 40 years old.

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QNT 561 Week 3 Lab Work (New)

FOR MORE CLASSES VISIT www.qnt561genius.com Chapter 8:

Ex 2) The following is a list of 29 hospitals in the Cincinnati (Ohio) and Northern Kentucky region. The hospitals are identified by numbering

them 00 through 28. Also included is whether the hospital is a general medical/surgical hospital (M/S) or a specialty hospital (S). we are interested in estimating the average number of full- and part-time nurses employed in the area hospitals.

Ex 8) A population consists of the following five values : 1,1,6,7,9. a. List all samples of size 3, and compute the mean of each sample b. Compute the mean of the distribution of sample means and the population mean.

Ex 12) scrapper Elevator Company has 20 sales representatives who sell its product throughout the United States and Canada. The number of units sold last month by each representative is listed below. Assume these sales figures to the population values a.

Compute mean and population

Ex 16) A normal population has a mean of 75 and a standard deviation of 5. You select a sample of 40. a.

Less than 74

b.

Between 74 and 76

c.

Between 76 and 77

d.

Greater than 77

Chapter 9:

Ex 4) Suppose you know Ďƒ and you want an 85% confidence level. What value would you use as z in formula of confidence interval for a population mean?

Ex 6) A research firm conducted a survey to determine the mean amount steady smokers spend on cigarettes during a week. They found the distribution of amounts spent per week followed the normal distribution with a population standard deviation of $5. A sample of 64 steady smokers revealed that x = 20 a.

What is the 95% confidence interval estimate of Îź?

Ex 10) Use Appendix B.5 to locate the value of t under the following conditions. a.

The sample size is 15 and the level of confidence is 95%

b.

The sample size is 24 and the level of confidence is 98%

c.

The sample size is 12 and the level of confidence is 90%

Ex 26) Past surveys reveal that 30% of tourists going to Las Vegas to gamble spend more than $1,000. The visitorâ€™s Bureau of Las Vegas wants to update this percentage.

a. The new study is to use the 90% confidence level. The estimate is to be within 1% of the population proportion. What is the necessary sample size? b. The bureau feels the sample size determined above is too large. What can be done to reduce the sample? Based on your suggestions, recalculate the sample size.

Ex 28) Forty-nine items are randomly selected from a population of 500 items. The sample mean is 40 and the sample standard deviation 9. Develop a 99% confidence interval for the population mean ==============================================

QNT 561 Week 3 Team Assignment Business Research Project Part 2 Research Plan (2 Papers)

FOR MORE CLASSES VISIT www.qnt561genius.com This Tutorial contains 2 different Papers Develop a plan for your Business Research Project in approx. 800 words.

Revise the research questions based on instructor feedback from the previous week. Identify population and samples for your research. Describe who will be chosen and how they will be accessed. Determine the data collection process. Describe the format of the survey and the basic item content to be gathered. Determine how the survey will be distributed and collected. Format your plan consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

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QNT 561 Week 4 Case the Payment Time

FOR MORE CLASSES VISIT www.qnt561genius.com Individual Paper Purpose of Assignment The purpose of the assignment is to develop students' abilities in using datasets to apply the concepts of sampling distributions and confidence intervals to make management decisions. Assignment Steps Resources: Microsoft ExcelÂŽ,

The Payment Time Case Study, The Payment Time Case Data Set Review the Payment Time Case Study and Data Set. Develop a 700-word report including the following calculations and using the information to determine whether the new billing system has reduced the mean bill payment time: • Assuming the standard deviation of the payment times for all payments is 4.2 days, construct a 95% confidence interval estimate to determine whether the new billing system was effective. State the interpretation of 95% confidence interval and state whether or not the billing system was effective. • Using the 95% confidence interval, can we be 95% confident that µ ≤ 19.5 days? • Using the 99% confidence interval, can we be 99% confident that µ ≤ 19.5 days? • If the population mean payment time is 19.5 days, what is the probability of observing a sample mean payment time of 65 invoices less than or equal to 18.1077 days? Format your assignment consistent with APA format. Please plagiarism free, she is acting to show how we got to the numbers we got so show work. Must have excel worksheet also.

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QNT 561 Week 4 Discussion Descriptive Statistics

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Create a Microsoft® Excel® spreadsheet with the two variables from a dataset for your choosing. Analyze the data with MegaStat®, StatCrunch®, Microsoft® Excel®or other statistical tool(s), including: (a) Descriptive stats for each numeric variable and (b) Histogram for each numeric variable and either (c) or (d) (c) Bar chart for each attribute (non numeric) variable (d) Scatter plot if the data contains two numeric variables Determine the appropriate descriptive statistics.(a) For normally distributed data use the mean and standard deviation. (b) For significantly skewed data use the median and interquartile range. Submit the spreadsheet/work and explain your thought process and results. ==============================================

QNT 561 Week 4 DQ 1

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www.qnt561genius.com does technological advancement affect the ability to collect data? Provide examples. Does this advancement increase the chance for errors? Explain. ==============================================

QNT 561 Week 4 DQ 2

FOR MORE CLASSES VISIT www.qnt561genius.com What is the importance of pretesting questions and instruments? What are risks of not doing this? Provide an example. ==============================================

QNT 561 Week 4 Individual Mystatslab Problem Set

FOR MORE CLASSES VISIT www.qnt561genius.com 1. Researchers conducted a survey of a representative sample of over 1,000 drivers. Based on how often each driver engaged in road

behaviour, a road rage score was given. The drivers were also grouped by annual income. The data were subjected to an analysis of variance, with the results summarized in the table. 2. Researchers surveyed a random sample of 25 employees who were enrolled in a certain program at one of three universities. These individuals were divided into four distinct groups, 1, 2, 3, and 4, depending on their job situation at a previous or current firm. The sampled employees completed a questionnaire on their ethical perceptions of downsizing. One item asked employees to respond to the statement, “It is unethical for a downsizing decision to be implemented on or prior to a major holiday.” Responses were measured using a 5point Likert scale, where 1 = strongly agree, 2 = agree, 3 = neutral, 4 = disagree, and 5 = strongly disagree. Data on both the qualitative variable “Group” and the quantitaive variable “Ethics response” are shown in the accompanying table. The researchers’ goal was to determine if any differences exist among the mean ethics scores for the four groups. Complete parts a through d. 3.

What conditions must n satisfy to make the x2 test valid?

4. There has been a recent trend for sports franchises in baseball, football, basketball, and hockey to build new stadiums and ballsparks in urban, downtown venues. A magazine investigated whether there has been a significanr suburban-to-urban shift in the location of major sport facilities. In 1985 40% of all major sports facilities were located downtown, 30%in central city, and 30% in suburban areas. In contrast, of the 122 major sports franchises that existed in 1997, 65 were built downtown 28 in a central city, and 29 in a suburban area. Complete parts a through e.

5. Each child in a sample of 63 low-income children was administered a language and communication exam. The sentence complexity scires had a mean of 7.63 and a standard deviation of 8.95. Complete parts a through d. 6. Which hypothesis, the null or the alternative, is the status-quo hypothesis? 7. Suppose the mean GPA of all students graduating from a particular university in 1975 was 2.50. The register plans to look at records of students graduating last year to see if the mean GPA has changed. Define notation and state the null and alternative hypothesis for this investigation. 8. A random sample of 100 observations from a population with standard deviation 65 yielded a sample of 112. Complete parts a through c. 9. For the Îą and observed significance level (p-value) pair, indicate whether the null hypothesis would be rejected. 10. A study analysis recent incidents involving terrorist attacks. Data on the number of individual suicide bombings that occurred in each of 20 sampled terrorist group attcks against a country is reproduced in the data table below. An Excel/DDXL printout is shown to the right. Complete parts a through e. 11. When planning for a new road to be used for tree harvesting, planners must select the location to minimize tractor skidding distance. The skidding distances (in meters) were measured at 20 randomly selected road sites. The data are given below. A logger working on the

road claims the mean skidding distance is atleast 398 meters. Is there sufficient evidence to refute this claim? Use Îą = 0.05. 12. Suppose a consumer group rated 47 brands of toothpaste based on whether or not the brand crries an American Dntal Association (ADA) seal verifying effective decay prevention. The results of a hypothesis test for the proportion of brands with the seal are shown to the right. Complete parts a through c. 13. To use the t-statistic to test for a difference between the means of two populations, what assumptions must be made about the two populations? About the two samples? 14. A study was done to examine whether the perception of service quality at hotels differed by gender. Hotel guests were randomly selected to rate service items on a 5-point scale. The sum of the items for each guest was determined and summary of the guest scores are provided in the table. Complete parts a and b. 15. To determine if winning a certain award leads to a change in life expectancy, researchers sampled 761 award winners and matched each one with another person of the same sex who was in the same profession and was born in the same era. The ilfespan of each pair was compared. Complete parts a through c below. 16. School bullying is a form of aggressive behaviour that occurs when a student is exposed repeatly to nagative actions from another student. In order to study the effectiveness of an antibullying policy at elementary schools, a survey of over 2,000 elementary school children was conducted. Each student was asked if he or she ever bullied another student. In a sample of 1358 boys, 747 claimed they had never bullied

another student. In a sample of 1379 girls, 964 claimed they had never bullied another student. Complete parts a through f below.

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QNT 561 Week 4 Lab Work (New)

FOR MORE CLASSES VISIT www.qnt561genius.com Chapter 10: Ex 2) A Sample of 36 observations is selected from a normal population. The sample mean is 12, and the population standard deviation is 3. Conduct the following test of hypothesis using the 0.01 significance level. EX. 10) Given the following hypotheses: H0 : Âľ = 400 H1: Âľ â‰ 400 A random sample of 12 observations is selected from a normal population. The sample mean was 407 and the sample S.D 6. Using the 0.1 significance level: a. State the decision rule. b. Compute the value of the test statistic c. What is your decision regarding the null hypothesis? EX 12) The management of White Industries considering a new method of assembling its golf cart. The present method requires 42.3 minutes, on the average, to assemble a cart. The mean assembly time for a random sample of 24 carts, using the new method, was 40.6 minutes, and the standard deviation of sample was 2.7 minutes. Using the .10 level of significance, can we conduct that the assembly time using the new method is faster? a. What is the decision rule? b.

Compute the value of test statistic. c. What is your decision regarding Ho? Ex 16) with the given hypotheses: A random sample of six resulted in the following values: 118, 105, 112, 119, 105 and 111. Assume a normal population a. Using the .05 significance level, determine the decision rule? b. Compute the value of the test static. c. 1. What is your decision regarding the Ho? 2. Can we conclude the mean is different from 100? d. Estimate the p-value Chapter 11: Ex 2) A sample of 65 observations is selected from one population with a population standard deviation of 0.75. The sample mean is 2.67. A sample of 50 observations is selected from a second population with a population standard deviation of 0.66. The sample mean is 2.59. Conduct of the following test of hypothesis using the .08 significance level. a. This is a ……… tailed test b. State the decision rule c. Compute the value of the test statistic d. What is your decision regarding Ho? e. What is the pvalue? Ex 8) The null and alternate hypotheses are: A random sample of 15 observations from the first population revealed a sample mean of 350 and a sample S.D of 12. A random sample of 17 observations from the second population revealed a sample mean of 342 and a sample S.D of 15. At the .10 significance level, is there a difference in the population means? a. This is a ……… tailed test b. The decision rule is to reject …….. c. The test statistic is t= ……….. d. What is your decision regarding Ho? e. The p-value is between 0.1 and 0.2? Ex 14) The null and alternate hypotheses are: A random sample of 20 items from the first population showed a mean of 100 and a S.D of 15. A sample of 16 items from the second population showed a mean of 94 and a S.D of 8. Use the .05 significance level a. Find the degrees of freedom for unequal variance test b. State the decision rule for .05 significance level? c. Compute the value of test statistic. d. What is your decision regarding null

hypothesis? Chapter 12: Ex 8) The following are six observations collected from treatment 1, four observations collected from treatment 2, and five observation collected from treatment 3. Test the hypothesis at the 0.05 significance level that the treatment means are equal. a. State the null and the alternate hypothesis. b. What is the decision rule? c. Compute SST SSE, SS total d. Complete the ANOVA table. e. State your decision regarding null hypothesis? Ex 12) From the given data of retail and banking stock a. Using the .05 level of significance, is there a difference in the mean rate of return among the three types of stock? b. Can the analyst conclude there is a difference between the mean rates of return for utility and retail stocks? For utility and banking stocks? For banking and a retail stocks? Explain Ex 18) There are three hospitals in the Tulsa, Oklahoma area. The following data show the number of outpatient surgeries performed on Monday, Tuesday, Wednesday, Thursday, and Friday at a each hospital last week. At the 0.05 significance level, can we conclude there is a difference in the mean number of surgeries performed by hospital or by day of the week? a. Set up the null hypothesis and the alternative hypothesis. b. Alternative hypothesis c. For blocks d. Alternative hypothesis e. State the decision for .05 significance level f. Complete the ANOVA table g. State your decision regarding null hypothesis? h. The decision for F value at 0.05 significance is: i. Can we conclude there is a difference in the mean number of surgeries performed by hospital or by day of the week? Chapter 13: EX. 16) Mr.James McWhinney, president Daniel-James Financial Services, believes there is a relationship between number of client contacts and the dollar amount of sales. To document this assertion, Mr.McWhinney gathered the following sample information. The X column indicates the number of client contacts last month, and

column Y shows the value of sales last month for each client sampled a) Determine Regression equation b) Determine Estimated sales if 40 contacts are made EX.18) We are studying mutual bond funds for the purpose of investing in several funds. For this particular study, we want to focus on the assets of a fund and its five-year performance. The question is: can the five-year rate of return be estimated based on the assets of the fund? Nine mutual funds were selected at random and their assets and rates of return are shown below. b-1. compute the coefficient of correlation. b-2. Compute the coefficient of determination c) Give a description of the degree of association between the variables d) Determine the regression equation. Use assets as the independent variable. e) For a fund with $400.0 million in sales, determine the fiveyear rate of return. EX.30) On the first statistics exam, the coefficient of determination between the hours studied and the grade earned was 80%. The standard error of estimate was 10. There were 20 students in the class. Develop an ANOVA table for the regression analysis of hours studied as a predictor of the grade earned on the first statistics exam. Chapter 16: Ex 16) The null hypothesis and the alternate hypothesis are: a. State the decision rule, using 0.05 significance level b. Compute the value of chi-square c. What is your decision regarding Ho? ==============================================

QNT 561 Week 4 Team Assignment Business Research Project Part 3 Survey and Data Collection Plan (2 Sets)

FOR MORE CLASSES VISIT www.qnt561genius.com This Tutorial contains 2 different sets

Create a draft of the survey. Conduct a pilot pretest having another Learning Team in the class to provide feedback for your team. Chet will create a message thread for each team to place their survey in the Class Discussion Tab. Revise the survey based on the feedback provided by your classmates. Describe in a paragraph or two at the end of your survey what feedback was provided by the other team and how did that impact this final survey from you initial draft. Click the Assignment Files tab to submit your final survey that you deploy. ==============================================

QNT 561 Week 5 DQ 1

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What is the value of performing hypotheses tests to solve problems related to business and operations management? Provide specific examples. ==============================================

QNT 561 Week 5 DQ 2

FOR MORE CLASSES VISIT www.qnt561genius.com What are differences between dependent and independent samples? Provide examples. What are implications for determining the tests used to analyze data? ==============================================

QNT 561 Week 5 Individual Mystatslab Problem Set

FOR MORE CLASSES VISIT www.qnt561genius.com 1.

Consider the pairs of measurements shown to the right.

2. Researchers investigated the effect of tablet surface area to volume on the rate at which a drug is released in a controlled-release dosage. For six similarly shaped tablets with different weights and thicknesses, the diffusional drug release rate (percentage of drug released divided by the square root of time) was determined. The experimental data are listed in the table. Complete parts a through d. 3. Many entrepreneurs have donated money to various causes. Data on the total amount pledged and remaining net worth for the 10 top donors are given in the table. Complete parts a through d. 4. Explain what each of the following sample correlation coefficients tells you about the relationship between the x and y values in the sample. 5. Construct a scttergram for each data set. Then calculate r and r2 for each data set. Interpret their values. Complete parts a through d. 6. A university conducted a study on 446 business graduates who had all completed the same business course. The study used correlation coefficients to investigate the relationship between many different business skills. Two of the many variables measured were selfknowledge skill level (x) and goalsetting ability (y). The correlation was r = 0.82. Complete parts a through c below. 7. Studies of managers from two countries in the 1970s found differences of opinion toward quality management. To find out if these differences continue to exist, researchers surveyed 100 managers in each country in the electronics manufacturing industry. The accompanying table gives the percentages of managers from each

country who agree with each of 10 randomly selected statements regarding quality. Complete parts a through c. 8. Suppose a statistication built a multiple regression model for predicting the total number of runs scored by a baseball team during a season.Use the Î˛ estimates to predict the number of runs scored by a team with 303 walks, 856 singles, 263 doubles, 37 triples, and 124 home runs. 9. Consider fitting the multiple regression model, E(y), below. A matrix of correlations for all pairs of independent variables on the right. Do you detect a multicollinearity problem? 10. Identify the problem(s) in the residual plots shown below. 11. Researchers conducted a survey of a representative sample of over 1,000 drivers. Based on how often each driver engaged in road rage behaviour, a road rage score was given. The driver were also grouped by animal income. The data were subjected to an analysis of variance, with the results summarized in the table. 12. What conditions must n satisfy to make the x2 test valid? 13. There has been a recent trend for sports franchises in baseball, football, basketball, and hockey to build new stadiums and ballsparks in urban, downtown venues. A magazine investigated whether there has been a significanr suburban-to-urban shift in the location of major sport facilities. In 1985 40% of all major sports facilities were located downtown, 30%in central city, and 30% in suburban areas. In contrast, of the 122 major sports franchises that existed in 1997, 65 were built downtown 28 in a central city, and 29 in a suburban area. Complete parts a through e.

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QNT 561 Week 5 Lab Work (New)

FOR MORE CLASSES VISIT www.qnt561genius.com Chapter 13: Ex 6) The owner of Maumee Ford-Mercury-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year. a. If we wants to estimate selling price on the basis of the age of car, which variable is thr dependent varialble and which is the independent variable? b. 1. Determine the correlation coefficient 2. Determine the coefficient of determination. c. Interpret the correlation coefficient. Does it surprise you that the correlation coefficient is negative? EX.12) The student Government Association at Middle Carolina University wanted to demonstrate the relationship between the number of beers a student drinks and his or her blood alcohol content (BAC). A random sample of 18 students participated in a study in which participating student was randomly assigned a number of beers, a member of the local sheriffâ€™s office measured their blood alcohol content. The sample information is reported below. 1. Choose scattered diagram best fit data. 2. Fill in the blank below 3. State decision rule. Ex 14) The following sample observations were randomly

selected. a. Determine the regression equation. b. Determine the value of Y when X is 7. Ex 18) We are studying mutual bond funds for the purpose of investing in several funds. For this particular study, we want to focus on the assets fund and its five-year performance. The question is : can the five-year rate of return be estimated based on the assets of the fund? Nine mutual funds were selected at random, and their assets and rates of returns are shown below: b-1. Compute the coefficient of correlation. b-2. Compute the coefficient of determination c. Give a description of the degree of association between the variables. d. Determine the regression equation. Use assets as the independent variable e. For a fund with $400.0 million in sales, determine the five year rate of return Ex 22) The owner of Maumee Ford-Mercury-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during last year The regression equation is y=11.18-0.48X, the sample size is 12, and the standard error of the slope is 0.23. Use the .05 significance level. Can we conclude that the slope of the regression line is less than zero? EX.26) The owner of Maumee FordMercury-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during last year. a) Determine standard error of estimation. b) Determine the coefficient of determination. c) Interpret the coefficient of determination Chapter 14: Ex 2) Thompson photo Works purchased several new, highly sophisticated processing machines. The production department needed some guidance with respect to qualification needed by an operator. Is age a factor? Is the length of service as an operator important? In order to explore further the factors needed to estimate performance on the new processing

machines, four variables were listed? X1 = Length of time an employee was in industry X2= Mechanical aptitude test score X3= Prior on-the-job rating X4= Age Performance on the new machine is designated y. a. What is this equation called? b. How many dependent and independent variable are there? c. What is the number 0.286 called? d. As age increases by one year, how much does estimated performance on the new machine increase? e. Carl Knox applied for job at photo works? He has been in business for 6 yrs and scored 280 on the mechanical aptitude test Carlâ€™s prior on-the-job performance rating is 97, and he is 35 years old Ex 6) Consider the ANOVA table that follows a.1. Determine the standard error of estimate a.2. About 95% of the residuals will be between what two values? b.1. Determine the coefficient of multiple determination. b.2. Determine the percentage variation for the independent variables. c. Determine the coefficient of multiple determinations, adjusted for the degree of freedom Ex 8) The following regression output was obtained from a study of architectural firms. The dependent variables is the total amount of fees in millions of dollars. X1 is the no of architects employed by the company X2 is the no of engineers employed by the company X3 is the no of years involved with health care projects X4 is the no of states in which the firm operates X5 is the percent of the firmâ€™s work that is health care-related a. Write out the regression equation b. How large is the sample? How many independent variables are there? c. 1. State the decision rule for .05 significance level: 2. Compute the value of F statistics 3. Can we conclude that the set of regression coefficients could be different from 0? d. 1. State the decision rule for .05 significance level: 2. Compute the value of test statistics 3. Which variable you consider eliminating? ==============================================

QNT 561 Week 5 Spicy Wings Case Study

FOR MORE CLASSES VISIT www.qnt561genius.com Week 5 Individual Paper • Spicy Wings Case Purpose of Assignment The purpose of this assignment is to develop students' abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will develop the ability to use statistical analysis and verify whether or not a claim is valid before advertising it. Assignment Steps Resources: Microsoft Excel®, Spicy Wings Case Study, Spicy Wings Data Set Develop a 700-word statistical analysis. Use descriptive statistics to compute a measure of performance John can use to analyze his delivery performance. Find the following for your measures: • Mean • Standard deviation • Sample size • Five-number summary on the total time Conduct a formal hypothesis testing to help John decide whether to offer the delivery guarantee or not. Estimate the probability of an order taking longer than 30 minutes. Make a recommendation in a short narrative including the following: • Based on the sampled data, should John offer the guarantee? • What percent of the Saturday deliveries would result in a customer receiving a free order? • What recommendations might help John improve his Saturday delivery times? Format your assignment consistent with APA format. ==============================================

QNT 561 Week 5 Team Assignment Business Research Project Part 4 Data Analysis (2 Sets)

FOR MORE CLASSES VISIT www.qnt561genius.com This Tutorial contains 2 different sets Administer the survey. In a paper in the APA format describe the following: Determine the sample process including sample contact, survey distribution, and survey collection. Organize, prepare, and describe the data. Include tables and figures as necessary to visually present the data. Think of this as a progress report to the CEO. He/She has provided your resources to conduct your research and you have just completed the deployment of your survey with some raw data BUT your analysis is not completed! This is to provide the CEO a quick touch point informing them how everything went, what are your initial thoughts, showing

them your raw results (# counts and percentages) for each question, and anything that is jumping out at you at this point. You will provide your detailed analysis in Week 6.

Click the Assignment Files tab to submit your assignment. ==============================================

QNT 561 Week 5 Team One-Sample Hypothesis Testing (Election Results, SpeedX

FOR MORE CLASSES VISIT www.qnt561genius.com Week 5 Learning team Paper Part A : One-Sample Hypothesis Testing Cases Purpose of Assignment The purpose of this assignment is to develop students' abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable. Assignment Steps Resources: Microsoft ExcelÂŽ, Case Study Scenarios, SpeedX Payment Times Develop a 700- to 1,050-word statistical analysis based on the Case Study Scenarios and SpeedX Payment Times. Include

answers to the following: Case 1: Election Results • Use 0.10 as the significance level (α). • Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state. Case 2: SpeedX • Use 0.10 and the significance level (α). • Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable. Format your assignment consistent with APA format. Case Study #1 – Election Results When an election for political office takes place, the television networks cancel regular programming and instead, provide election coverage. When the ballots are counted, the results are reported. However, for important offices such as president or senator in large states, the networks actively compete to see which will be the first to predict a winner. This is done through exit polls, wherein a random sample of voters who exit the polling booth is asked for whom they voted. From the data, the sample proportion of voters supporting the candidates is computed. Hypothesis testing is applied to determine whether there is enough evidence to infer the leading candidate will garner enough votes to win. Suppose in the exit poll from the state of Florida during the 2000 year elections, the pollsters recorded only the votes of the two candidates who had any chance of winning: Democrat Al Gore and Republican George W. Bush. In a sample of 765 voters, the number of votes cast for Al Gore was 358 and the number of votes cast for George W. Bush was 407. The network predicts the candidate as a winner if he wins more than 50% of the votes. The polls close at 8:00 P.M. Based on the sample results, conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state. Use 0.10 as the significance level (α). Case Study #2 – SpeedX SpeedX, a large

courier company, sends invoices to customers requesting payment within 30 days. The bill lists an address, and customers are expected to use their own envelopes to return their payments. Currently, the mean and standard deviation of the amount of time taken to pay bills are 24 days and 6 days, respectively. The chief financial officer (CFO) believes including a stamped self-addressed envelope would decrease the amount of time. She calculates the improved cash flow from a 2-day decrease in the payment period would pay for the costs of the envelopes and stamps. You have an MBA from the University of Phoenix, and work for SpeedX as a business analyst. One of your job duties is to run analytics and present the results to the senior management for critical decision-making. You see this as an opportunity to utilize some of the skills you gained in the Statistics course. Because of your strong understanding and background in inferential statistics, you decide to take up this important assignment. You have learned any analysis in inferential statistics starts with sampling. To test the CFOâ€™s belief, you decide to randomly select 220 customers and propose to include a stamped self-addressed envelope with their invoices. The CFO accepts your proposal and allows you to run a pilot study. You then record the numbers of days until payment is received. Using your statistical expertise and skills you gained in the class, conduct a onesample hypothesis test and determine if you can convince the CFO to conclude that the plan will be profitable. Use 0.10 and the significance level (Îą). ==============================================

QNT 561 Week 6 DQs

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After reading chapter 12, explain how ANOVA could help to explain the association between two variables. Give an example. After reading chapter 13, how ANOVA could help to understand the expansion of the hypothesis testing of two variables? After reading chapter 18, select a TQM chart and explain how we use the chart selected. ==============================================

QNT 561 Week 6 Lab Work (New)

FOR MORE CLASSES VISIT www.qnt561genius.com Chapter 18: EX.2) Listed Below is the number of movie tickets sold at the Library Cinema-Complex, in thousands, for the period from 2001 to 2013. Compute a five-year weighted moving average using weights of 0.15, 0.15, 0.25, 0.16, and 0.29, respectively. Describe the trend in yield. EX 10) Appliance Center sells a variety of electronic equipment and home appliance. For the last 4 years, 2010 through 2013, the following

quarterly sales (in $ millions) were reported. Determine the typical seasonal index for each of four quarters. ==============================================

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