QNT 275 Final Exam Guide (New, 2018, 100% Score)

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1 To make tests of hypotheses about more than two population means, we use the: t distribution normal distribution chi-square distribution analysis of variance distribution

2

You randomly select two households and observe whether or not they own a telephone answering machine. Which of the following is a simple event? At most one of them owns a telephone answering machine. At least one of them owns a telephone answering machine. Neither of the two owns a telephone answering machine. Exactly one of them owns a telephone answering machine.

3 In a one-way ANOVA, we analyze only one: population mean variable sample

4 The regression model y = A + Bx + e is: an exact relationship

a probabilistic model a nonlinear model a deterministic model

5 For a goodness-of-fit test, the frequencies obtained from the performance of an experiment are the: objective frequencies observed frequencies subjective frequencies expected frequencies

6 The mean of a discrete random variable is the mean of its: frequency distribution second and third quartiles percentage distribution probability distribution

7 A researcher wants to test if the mean annual salary of all lawyers in a city is different than \$110,000. The null hypothesis for this example will be that the population mean is: greater than to \$110,000 not equal to \$110,000 equal to \$110,000 less than to \$110,000 8 Which of the following pairs of events are mutually exclusive? Female and no Female and yes Female and male No and yes 9 In a hypothesis test, a Type I error occurs when: a false null hypothesis is not rejected a true null hypothesis is rejected a true null hypothesis is not rejected

a false null hypothesis is rejected

10 You toss a coin nine times and observe 3 heads and 6 tails. This event is a: multiple outcome simple event multinomial sample point compound event

11 The graph of a cumulative frequency distribution is a(n): stem-and-leaf display frequency histogram ogive line graph

12 What is the critical value of t for the hypothesis test? 2.441

2.449 2.733 2.738

13 An error that occurs because of chance is called: mean error probability error sampling error nonsampling error

14 A researcher wants to test if elementary school children spend less than 30 minutes per day on homework. The alternative hypothesis for this example will be that the population mean is: equal to 30 minutes not equal to 30 minutes less than or equal to 30 minutes less than 30 minutes

15

A quantitative variable is the only type of variable that can: have no intermediate values be used to prepare tables assume numeric values for which arithmetic operations make sense be graphed

16 The p-value is the: largest significance level at which the alternative hypothesis can be rejected smallest significance level at which the null hypothesis can be rejected largest significance level at which the null hypothesis can be rejected smallest significance level at which the null hypothesis can be rejected

17 If you divide the number of elements in a sample with a specific characteristic by the total number of elements in the sample, the dividend is the: sampling distribution

sample distribution sample mean sample proportion

18 A linear regression: gives a relationship between two variables that can be described by a line gives a relationship between two variables that cannot be described by a line gives a relationship between three variables that can be described by a line contains only two variables

19A continuous random variable x has a right-skewed distribution with a mean of 80 and a standard deviation of 12. The sampling distribution of the sample mean for a sample of 50 elements taken from this population is: skewed to the left not normal

approximately normal skewed to the right 20 Which of the following assumptions is not required to use ANOVA? All samples are of the same size. The samples drawn from different populations are random and independent. The populations from which the samples are drawn are (approximately) normally distributed. The populations from which the samples are drawn have the same variance. 21 The model y = A + Bx is a: nonlinear model stochastic model probabilistic model deterministic model 22 In a hypothesis test, a Type II error occurs when: a false null hypothesis is rejected a true null hypothesis is rejected

a true null hypothesis is not rejected a false null hypothesis is not rejected 23 Two paired or matched samples would imply that: data are collected on two variables from the elements of two independent samples two data values are collected from the same source (elements) for two dependent samples two data values are collected from the same source (elements) for two independent samples data are collected on one variable from the elements of two independent samples

24 What is the critical value of z for the hypothesis test? -2.05 -2.33 -2.17 -1.96 25 A qualitative variable is the only type of variable that: can assume an uncountable set of values

cannot be measured numerically cannot be graphed can assume numerical values 26 The alternative hypothesis is a claim about a: statistic, where the claim is assumed to be false until it is declared true parameter, where the claim is assumed to be true until it is declared false statistic, where the claim is assumed to be true if the null hypothesis is declared false parameter, where the claim is assumed to be true if the null hypothesis is declared false 27 For small degrees of freedom, the chi-square distribution is: rectangular skewed to the left symmetric skewed to the right 28 We can use the analysis of variance procedure to test hypotheses about: the proportion of one population two or more population proportions

two or more population means the mean of one population 29 For a one-tailed test, the p-value is: twice the area under the curve to the same side of the value of the sample statistic as is specified in the alternative hypothesis the area under the curve to the same side of the value of the sample statistic as is specified in the alternative hypothesis twice the area under the curve between the mean and the observed value of the sample statistic the area under the curve between the mean and the observed value of the sample statistic 30 The mean of a discrete random variable is its: second quartile box-and-whisker measure upper hinge expected value ==============================================

QNT 275 Week 1 Apply Connect Week 1 Exercise

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QNT 275 Week 1 Apply Connect Week 1 Exercise Review the glossary in your textbook in preparation for this assignment. Complete the Week 1 Exercise in Connect. Note: You have only 1 attempt available to complete assignments. 1. Define Ratio Variable.

A variable having values that are numbers which reflect quantities or measurements. A characteristic from a sample or population that can assume different values for individual elements (members) of the sample or population. A quantitative variable such that ratios of its values are meaningful and for which there is an inherently defined zero value. Facts and figures from which conclusions may be drawn, generally for a specific study or issue.

2. Define Inferential Statistics.

Efforts to mislead users of statistical information including biased sampling, misleading chart, table and descriptive measures, and inappropriate analysis or inappropriate interpretation of the results. The process of using a sample of measurements/values to make generalizations about the important aspects of a population of measurements/values. A sampling design in which we divide a population into subgroups that do not overlap, then select a random sample from each subgroup (stratum). A sample selected in such a way that every element in the population has an equal chance of being selected.

3. Define Variable.

A characteristic from a sample or population that can assume different values for individual elements (members) of the sample or population. A variable having values that indicate into which of several categories the value for the respective sample or population element belongs. Data collected over several time periods.

A variable having values that are numbers which reflect quantities or measurements.

4. Define Stratified Sampling.

Efforts to mislead users of statistical information including biased sampling, misleading chart, table and descriptive measures, and inappropriate analysis or inappropriate interpretation of the results. A sampling design in which we divide a population into subgroups that do not overlap, then select a random sample from each subgroup (stratum). A qualitative variable value for which there is no ordering or ranking; data values are not numerical and fit into categories. A qualitative variable value for which there is ordering or ranking.

5. Define Sample.

The process of organizing and describing important elements of a set of values. A sample selected in such a way that every element in the population has an equal chance of being selected.

The process of using a sample of measurements/values to make generalizations about the important aspects of a population of measurements/values. A subset of the elements in a population.

6. Define Ordinal Variable.

A quantitative variable such that ratios of its values are not meaningful and for which there is not an inherently defined zero value. Facts and figures from which conclusions may be drawn, generally for a specific study or issue. A quantitative variable such that ratios of its values are meaningful and for which there is an inherently defined zero value. A qualitative variable value for which there is ordering or ranking.

7. Define Descriptive Statistics.

The process of using a sample of measurements/values to make generalizations about the important aspects of a population of measurements/values.

A sampling design in which we divide a population into subgroups that do not overlap, then select a random sample from each subgroup (stratum). The process of organizing and describing important elements of a set of values. A sample selected in such a way that every element in the population has an equal chance of being selected.

8. Define Random Sampling.

A sampling design in which we divide a population into subgroups that do not overlap, then select a random sample from each subgroup (stratum). A sample selected in such a way that every element in the population has an equal chance of being selected. A qualitative variable value for which there is no ordering or ranking; data values are not numerical and fit into categories. Efforts to mislead users of statistical information including biased sampling, misleading chart, table and descriptive measures, and inappropriate analysis or inappropriate interpretation of the results.

9. Define Qualitative Variable.

A variable having values that indicate into which of several categories the value for the respective sample or population element belongs. Data collected over several time periods. The set of all elements about which we want to draw conclusions. A subset of the elements in a population.

10. Define Interval Variable.

Facts and figures from which conclusions may be drawn, generally for a specific study or issue. A quantitative variable such that ratios of its values are not meaningful and for which there is not an inherently defined zero value. A quantitative variable such that ratios of its values are meaningful and for which there is an inherently defined zero value. A characteristic from a sample or population that can assume different values for individual elements (members) of the sample or population. ==============================================

QNT 275 Week 1 Individual Assignment Statistics in Business (2 Papers)

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This Tutorial contains 2 Papers Develop a 875-word response that addresses each of the following prompts:      

Define statistics with citation and reference. Contrast quantitative data and qualitative data. Use two Peer Reviewed references. Evaluate tables and charts used to represent quantitative and qualitative data. Describe the levels of data measurement. Describe the role of statistics in business decision-making. Provide at least two business research questions, or problem situations, in which statistics was used or could be used.

Use two peer reviewed references. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. ==============================================

QNT 275 Week 1 Practice: Connect Knowledge Check

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QNT 275 Week 1 Practice: Connect Knowledge Check Complete the Week 1 Knowledge Check in Connect. Note: You have unlimited attempts available to complete practice assignments. 1. Daily temperature in a local community collected over a 30-day time period is an example of cross-sectional data. True False 2. Time series data are data collected at the same time period. True False 3. Primary data are data collected by an individual. True

False 4. A random sample is selected so that every element in the population has the same chance of being included in the sample. True False 5. __________ consists of a set of concepts and techniques that are used to describe populations and samples. Data mining Traditional statistics Random sampling Time series analysis 6. A sequence of operations that takes inputs and turns them into outputs is a ____________. statistical inference process random sampling runs plot 7. Processes produce outputs over time. True False 8.

_________ uses traditional or newer graphics to present visual summaries of business information. Data mining Descriptive analytics Predictive analytics Association learning

9. The number of sick days taken by employees in 2008 for the top 10 technology companies is an example of time series data. True False 10. A population is a set of existing units. True False 11. A(n) _____________ variable is a qualitative variable such that there is no meaningful ordering or ranking of the categories. interval ordinal ratio nominative 12. Judgment sampling occurs when a person who is extremely knowledgeable about the population under consideration selects the

population element(s) that they feel is(are) most representative of the population. True False A population is a set of existing units. True False

Processes produce outputs over time. True False Primary data are data collected by an individual. True False It is possible to use a random sample from a population to make statistical inferences about the entire population. True False The term big data was derived from the use of survey data. True False _________ uses traditional or newer graphics to present visual summaries of business information. Predictive analytics Data mining Descriptive analytics Association learning

An example of a qualitative variable is the mileage of a car. True False Any characteristic of an element is called a ____________. process set variable D)census A sequence of operations that takes inputs and turns them into outputs is a ____________. random sampling statistical inference process runs plot

Daily temperature in a local community collected over a 30-day time period is an example of cross-sectional data. True False

An example of a quantitative variable is the manufacturer of a car. True False Cross-sectional data are data collected at the same point in time. True False ==============================================

QNT 275 Week 1 Practice Set

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The following table lists the number of deaths by cause as reported by the Centers for Disease Control and Prevention on February 6, 2015:

Cause of Death Number of Deaths Heart disease 611,105 Cancer 584,881 Accidents 130,557 Stroke 128,978 Alzheimerâ&#x20AC;&#x2122;s disease 84,767 Diabetes 75,578 Influenza and Pneumonia 56,979 Suicide 41,149

What is the variable for this data set (use words)? How many observations are in this data set (numeral)? How many elements does this data set contain (numeral)?

Indicate which of the following variables are quantitative and which are qualitative. Note: Spell quantitative and qualitative in lower case letters. The amount of time a student spent studying for an exam The amount of rain last year in 30 cities The arrival status of an airline flight (early, on time, late, canceled) at an airport A personâ&#x20AC;&#x2122;s blood type The amount of gasoline put into a car at a gas station A local gas station collected data from the dayâ&#x20AC;&#x2122;s receipts, recording the gallons of gasoline each customer purchased. The following table lists the frequency distribution of the gallons of gas purchased by all customers on this one day at this gas station.

Gallons of Gas Number of Customers 4 to less than 8 78 8 to less than 12 49 12 to less than 16 81 16 to less than 20 117 20 to less than 24 13

How many customers were served on this day at this gas station? Find the class midpoints. Do all of the classes have the same width? If so, what is this width? If not, what are the different class widths?

What percentage of the customers purchased between 4 and 12 gallons? (do not include % sign. Round numerical value to one decimal place)

The following data give the one-way commuting times (in minutes) from home to work for a random sample of 50 workers.

23 17 34 26 18 33 46 42 12 37 44 15 22 19 28 32 18 39 40 48 16 11 9 24 18 26 31 7 30 15 18 22 29 32 30 21 19 14 26 37 25 36 23 39 42 46 29 17 24 31 What is the frequency for each class 0–9, 10–19, 20–29, 30–39, and 40– 49. Calculate the relative frequency and percentage for each class. What percentage of the workers in this sample commute for 30 minutes or more? Note: Round relative frequency to two decimal places. Complete the table by calculating the frequency, relative frequency, and percentage. Commuting Times

Frequency (part a)

Relative Frequency (part c) Percentage (%) (part d)

0-9 ? 0.?? ? 10-19 ? 0.?? ? 20-29 ? 0.?? ? 30-39 ? 0.?? ? 40-49 ? 0.?? ?

The following data give the number of text messages sent on 40 randomly selected days during 2015 by a high school student. 32 33 33 34 35 36 37 37 37 37 38 39 40 41 41 42 42 42 43 44 44 45 45 45 47 47 47 47 47 48 48 49 50 50 51 52 53 54 59 61

Each stem has been displayed (left column). Complete this stem-andleaf display for these data. Note: Use a space in between each leaf. For example 1 2 3 4 5 6 7 8 9 (do not use this format 123456789). 3 ?… 4 ?… 5 ?… 6 ?…

6 A) Which of the five measures of center (the mean, the median, the trimmed mean, the weighted mean, and the mode) can be calculated for quantitative data only. B) Which can be calculated for both quantitative and qualitative data?

Prices of cars have a distribution that is skewed to the right with outliers in the right tail. Which of the measures of center is the best to summarize this data set?

The following data give the amounts (in dollars) of electric bills for November 2015 for 12 randomly selected households selected from a small town. 205 265 176 314 243 192 297 357 238 281 342 259 Calculate the (a) mean, (b) median and (c) Is there a mode (Yes or No)?

The following data give the prices of seven textbooks randomly selected from a university bookstore.

\$89 \$170 \$104 \$113 \$56 \$161 \$147 a) Find the mean for these data (input the numerical value without the dollar sign). Calculate the deviations of the data values from the mean. b) Is the sum of these deviations zero (yes or no)? c) Calculate the range (do not include unit). d) Calculate the variance. e) Calculate the standard deviation (round to one decimal place).

The following data give the speeds of 13 cars (in mph) measured by radar, traveling on I-84.

73 75 69 68 78 69 74 76 72 79 68 77 71 Find the values of the three quartiles and the interquartile range.

Calculate the (approximate) value of the 35th percentile (round to two decimal places). Compute the percentile rank of 71 (round to two decimal places. Do not include the % symbol).

Note: Round to two decimal places. Do not include unit. ==============================================

QNT 275 Week 2 Apply: Connect Week 2 Case

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QNT 275 Week 2 Apply: Connect Week 2 Case Part 1 You manage the inventory for a car dealership. Your management would like you to review current inventory on the dealership lot. Review the Week 2 Data Set. Create and calculate the following in ExcelÂŽ:

Create a Pie Chart which summarizes colors of the cars in the sample. Create a Bar Chart which summarizes the frequency of the models of the cars in the sample. Create a Frequency Table for classes of MPG, including Frequency and Relative Frequency for the cars in the sample. Calculate the mean Days in Inventory for the cars in the sample. Compare that to the median and the mode. Highlight the value that would be a better representation of the “typical” price of a car in inventory? Calculate the standard deviation of the Days in Inventory for the cars in the sample. Calculate the 5 number summary for the suggested retail prices of the cars in the sample. This consists of the 1st, 2nd, 3rd, 4th quartile and the IQR. Note: Part 1 is not submitted. It is only to be completed in preparation for Part 2. Part 2 Reference your Excel® spreadsheet from Part 1. Complete the Week 2 Case in Connect. Note: You have only 1 attempt available to complete assignments. Sample Car # Color MPG Suggest Retail Price Option Package Days in Inventory 1 Grey 27.6 \$24,390.00 LX 1 2 Grey 32.4 \$21,780.00 Touring 10 3 Blue 33.2 \$21,149.00 Touring 28 4 Black 34.7 \$22,069.00 LX 21 5 Blue 27.2 \$22,532.00 Touring 16 6 Blue 26.6 \$20,345.00 Touring 22 7 Red 37.3 \$22,112.00 EX 12

8 Silver 34.9 \$21,289.00 Touring 23 9 Silver 29.6 \$24,871.00 LX 15 10 Silver 32.3 \$25,389.00 EX 8 11 Grey 31.9 \$25,998.00 EX 28 12 Red 26.4 \$19,713.00 LX 55 13 Black 34.8 \$25,213.00 EX 2 14 Silver 35.9 \$24,467.00 Touring 33 15 Black 34.6 \$21,402.00 LX 17 16 Black 33.3 \$20,351.00 LX 14 17 Grey 33.1 \$23,732.00 Touring 1 18 Red 37.5 \$24,558.00 Touring 2 19 Red 27.8 \$19,167.00 LX 18 20 Red 36.1 \$19,903.00 Touring 22 21 Blue 28.8 \$22,140.00 Touring 19 22 Red 26.2 \$22,180.00 EX 41 23 Silver 27.4 \$23,120.00 Touring 33 24 Black 34.9 \$19,837.00 Touring 21 25 Red 36.5 \$24,666.00 EX 31 26 Red 26.3 \$19,446.00 EX 35 27 Blue 31.4 \$23,954.00 Touring 11 28 Blue 30.9 \$21,201.00 LX 3 29 Red 27.4 \$21,346.00 EX 26 30 Red 36 \$19,406.00 EX 31 ==============================================

QNT 275 Week 2 Assignment MiniProject 3 2

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ou are employed as a statistician for a company that makes household products, which are sold by part-time salespersons who work during their spare time. The company has four salespersons employed in a small town. Let us denote these salespersons by A, B, C, and D. The sales records (in dollars) for the past 6 weeks for these four salespersons are shown in the table below. Week A B C D 1 1774 2205 1330 1402 2 1808 1507 1295 1665 3 1890 2352 1502 1530 4 1932 1939 1104 1826 5 1855 2052 1189 1703 6 1726 1630 1441 1498 Your supervisor has asked you to prepare a brief report comparing the sales volumes and the consistency of sales of these four salespersons. Use the mean sales for each salesperson to compare the sales volumes. Choose an appropriate statistical measure to compare the consistency of sales. Make the calculations and write a 700-word report comparing the sales volumes and the consistency of sales of these four salespersons. Format your assignment consistent with APA guidelines.

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

QNT 275 Week 2 Individual Assignment Activity Data Set (Little Town Cafe)

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Review the following business scenario: You are the manager in a small town in the lake district of a Midwestern state enjoys a robust tourist season during the summer months, but has only a small population of residents during the off season. The Littletown Café adjusts the levels of staff according to the time of year, to coincide with the number of guests, with the tourist season typically starting around Memorial Day each year. One wait staff employee can serve 50 guests. When a bus staff employee is added, the pair can serve 75 guests. At 76 guests, the café adds a second wait staff employee, for a total of 2 waiters and one busser. Analysis of guest numbers can support future decisions about scheduling wait staff, dishwashers, and bus staff for the café. Download the data set.

Review the data in the data set. Write a 700- to 1,050-word paper in which you: Explain why this is (or is not) a suitable sample of quantitative data for the business scenario. Evaluate the factors that would affect the validity of the data set. Evaluate the factors that would affect the reliability of the data set. Explain the steps you took to arrive at your conclusion about validity and reliability. Display the data set in a chart. Explain briefly why that chart type was selected. Calculate the measures of central tendency and variability (mean, median, mode, standard deviation) for the data. Explain the steps you followed to come your answer. Interpret the measures of central tendency and variability.Whatare three conclusions you can draw based on the data analysis? ==============================================

QNT 275 Week 2 Individual Assignment Business Problem

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I2 (Week 2) Individual Assignment: Business Problem: Prepare a paper examining a business problem confronting your organization or an organization you know of that you feel could be addressed through the application of the business research process. Describe the problem. Then present the research purpose and one research question addressing an aspect of this problem. The question must contain the variable you will measure. Discuss the measured variable. Use the business research problem sample I2 as a guide. This paper should be between 300-600 words. Post to the individual assignment forum. Title the document file "Business Statistics Research Problem I2". Materials ==============================================

QNT 275 Week 2 Mini- Project 3-3 (Movie Data Set)

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Purpose of Assignment This assignment provided students with practice in understanding the relationship of averages and standard deviation to make an informed business decision about the gross income performance of each movie

genre. Students will learn to implement the use of these statistical measures for better business decision-making. Resources: Week 2 Videos; Week 2 Readings; Statistics Lab Tutorial help on ExcelÂŽ and Word functions can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the web offering support for Office products. Assignment Steps Refer to Mini-Project Movie Data Set. Analyze and write a report summarizing this data. This report should include answers to at least the following questions: 1. Calculate the summary measures (the mean, standard deviation, fivenumber summary, and interquartile range) of the total gross income for each movie genre. 2. Which genre had greater variability in total gross income? Explain why. 3. Draw a box-and-whisker plot of a movie's length of time (minutes) by genre. Are there any differences in movie lengths when compared across genres? Are there any outliers? Use the mean movie gross income for each genre to compare the movie opening gross income. Choose an appropriate statistical measure to compare the consistency of movie gross income. Make the calculations and write a 700-word report comparing the total movie gross income and the consistency of movie opening gross by genre. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

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QNT 275 Week 2 Practice: Analysis ToolPak Installation

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QNT 275 Week 2 Practice: Analysis ToolPak Installation Complete the steps indicated in the “Installing the Analysis ToolPak” video to prepare for this week’s assignment. Take a screenshot of the Data tab showing the installed toolpak. Click on the Assignment Files tab to submit your screenshot. ==============================================

QNT 275 Week 2 Practice: Connect Knowledge Check

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QNT 275 Week 2 Practice: Connect Knowledge Check Complete the Week 2 Knowledge Check in Connect. Note: You have unlimited attempts available to complete practice assignments. 1. In a statistics class, 10 scores were randomly selected with the following results: 74, 73, 77, 77, 71, 68, 65, 77, 67, 66. What is the IQR? 11.00 10 5.00 5.25 12.00

2. A quantity that measures the variation of a population or a sample relative to its mean is called the ____________. range interquartile range standard deviation coefficient of variation variance

3. An observation separated from the rest of the data is a(n) ___________. absolute extreme outlier quartile mode

4. Quality control is an important issue at ACME Company, which manufactures light bulbs. To test the life-hours of their light bulbs, they randomly sampled nine light bulbs and measured how many hours they lasted: 378, 361, 350, 375, 200, 391, 375, 368, 321. What is the mean? 375 389.9 368 346.6 200

5. In a statistics class, 10 scores were randomly selected with the following results (mean = 71.5): 74, 73, 77, 77, 71, 68, 65, 77, 67, 66. What is the range? 516.20 144.00 22.72 4.77 12.00

6. Which percentile describes the first quartile, Q1? 25th 100th 75th 50th

7. Personnel managers usually want to know where a job applicant ranked in his or her graduating class. With a grade point average of 3.83, Michelle Robinson graduated above the 93rd percentile of her graduating class. What is the percentile rank of a student whose GPA was the median GPA. 75th 50th 25th 93rd 10th

8. All of the following are measures of central tendency except the ____________. mode range mean median

9. Quality control is an important issue at ACME Company, which manufactures light bulbs. To test the life-hours of their light bulbs, they randomly sampled nine light bulbs and measured how many hours they lasted (mean = 346.6). 378, 361, 350, 375, 200, 391, 375, 368, 321 What is the range? 58.5

191 3424.3 10,609 342.43

10. The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes): 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118. What is the mean? 115.5 148 118 114.15 45

11. The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes): 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118. What is the median? 118 115.5 45 114.15

148

12. When establishing the classes for a frequency table, it is generally agreed that the more classes you use the better your frequency table will be. True False ==============================================

QNT 275 Week 2 Practice Set

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List the simple events for each of the following statistical experiments in a sample space. One roll of a die. Note: Separate your response with a comma (,). For example 22, 23, 24 Three tosses of a coin.

Note: Use this notation for your answer. heads = H. tails = T. For example HT, TH One toss of a coin and one roll of a die. Note: Use this notation. Heads = H or numbers 1, 2, 3, 4, 5, 6 for the dice. For example H1 indicates heads and dice roll equal to 1.

Two students are randomly selected from a statistics class, and it is observed whether or not they suffer from math anxiety. Indicate which are simple and which are compound events. Both students suffer from math anxiety. Exactly one student suffers from math anxiety. The first student does not suffer and the second suffers from math anxiety. None of the students suffers from math anxiety.

A hat contains 40 marbles. Of them, 18 are red and 22 are green. If one marble is randomly selected out of this hat. What is the probability that this marble is red (round to two decimal places)? What is the probability that this marble is green (round to two decimal places?

Two thousand randomly selected adults were asked whether or not they have ever shopped on the Internet. The following table gives a two-way classification of the responses.

Have Shopped Have Never Shopped

Male 500 700 Female 300 500

Find the joint probability of AAand BB for the following. P(A)=.36and P(B|A)=.87 P(B)=.53and P(A|B)=.22

Classify each of the following random variables as discrete or continuous. The time left on a parking meter The number of bats broken by a major league baseball team in a season The number of cars in a parking lot at a given time The price of a car The number of cars crossing a bridge on a given day The time spent by a physician examining a patient The number of books in a studentâ&#x20AC;&#x2122;s bag

7. The following table gives the probability distribution of a discrete random variable x.

x0123456 P(x) .11 .19 .28 .15 .12 .09 .06

Find the following probabilities. P(1â&#x2030;¤xâ&#x2030;¤4) Probability that xassumes a value less than 4. Probability that xassumes a value greater than 2.

A limousine has eight tires on it. A fleet of such limos was fit with a batch of tires that mistakenly passed quality testing. The following table lists the probability distribution of the number of defective tires on this fleet of limos where xxrepresents the number of defective tires on a limo and P(x) is the corresponding probability.

x012345678 P(x) .0454 .1723 .2838 .2669 .1569 .0585 .0139 .0015 .0008

Calculate the mean and standard deviation of this probability distribution. Give a brief interpretation of the values of the mean and standard deviation.

Let xxbe a discrete random variable that possesses a binomial distribution. Using the binomial formula, find the following probabilities. p(5) for n=8and p=.70 p(3) for n=4and p=.40 Verify your answers by using Table I of Appendix B.

Let xbe a discrete random variable that possesses a binomial distribution. What is the mean (round to three decimal places) What is the standard deviation of the probability distribution (round to three decimal places)?

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QNT 275 Week 2 Quiz

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QNT 275 Week 2 Quiz

1. In order to summarize qualitative data, a useful tool is a __________. 2. A stem-and-leaf diagram is constructed by separating each value of a data set into two parts. What are these parts? 3. A recent survey of 200 small firms (annual revenue less than \$10 million) asked whether an increase in the minimum wage would cause the firm to decrease capital spending. Possible responses to the survey question were: "Yes," "No," or "Don't Know." These data are best classified as ____________. 4. The accompanying chart shows the numbers of books written by each author in a collection of cookbooks. What type of chart is this? 5. A population consists of _________________. 6. Which of the following variables is quantitative? 7. Which of the following represents a population and a sample from that population? 8. ABC Plumbing wants to understand its customersâ&#x20AC;&#x2122; perceptions of the quality of the companyâ&#x20AC;&#x2122;s plumbing service calls. They plan to survey a sample of its customer base. What will ABC need to do to ensure that their data is valid and reliable? 9. Which of the following variables is qualitative?

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QNT 275 Week 3 Apply: Connect Week 3 Case

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QNT 275 Week 3 Apply: Connect Week 3 Case Part 1 Three hundred consumers between 21 and 49 years old were randomly selected. After sampling a new wine cooler, each was asked to rate the appeal of the phrase: “Not sweet like wine coolers, not filling like beer, and more refreshing than wine or mixed drinks” as it relates to the new wine cooler. The rating was made on a scale from 1 to 5, with 5 representing “extremely appealing” and with 1 representing “not at all appealing”. As a manager overseeing the development of the concept, you bottle the wine cooler and placed it into distribution in one test store. Your manager has asked you to assess the data and determine the most likely customer based on the ratings. Additionally, your manager would like you to review sales in the test store. Use the Week 3 Data Set to create and calculate the following in Excel®: Estimate the probability that a randomly selected 21 to 49 year old consumer: Would give the phrase a rating of 5 Would give the phrase a rating of 3 or higher Is in the 21-24 age group

Is a male who gives the phrase a rating of 4 Is a 35 to 49 year old who gives the phrase a rating of 1 Based on the probabilities for the ratings of 4 and 5, which age/gender demographic would be the best target audience for the new concept? Create a probability distribution using the data which shows how many cartons of the wine cooler were bought per customer in a month. Calculate the mean and the standard deviation of your probability distribution. Calculate the probability that exactly 3 six packs will be bought in a month. Calculate the probability that between 4 and 8 six packs will be bought in a month. Calculate the probability that at least 5 six packs will be bought in a month. Calculate the probability that no more than 5 six packs will be bought in a month. Create a relative frequency distribution based on the wine cooler drinking temperatures. Create 6 bins with the same interval in each. Create a histogram Considering the mean and standard deviation for the ideal drinking temperature: Calculate z values then refer to Table 6.1 â&#x20AC;&#x201C; Cumulative Areas Under the Standard Normal Curve Calculate the probability of the wine cooler being less than 45 degrees. Calculate the probability of the wine cooler being greater than 60 degrees. Calculate the percentage of wine coolers served at the ideal temperature, between 49 and 55 degrees. Part 2 Reference your ExcelÂŽ spreadsheet from Part 1. Complete the Week 3 Case in Connect.

Note: You have only 1 attempt available to complete assignments.

RESULTS OF CONCEPT RATING FOR NEW WINE COOLER Rating of the appeal of the phrase as it relates to the new wine cooler Total Sample Gender Age Male Female 21 â&#x20AC;&#x201C; 24 25 -34 35-49 Extremely appealing (5) 151 68 83 48 63 40 Somewhat appealing (4) 91 51 40 36 32 23 Neither appealing nor not appealing (3) 36 21 15 9 16 11 Somewhat unappealing (2) 13 7 6 4 6 3 Not at all appealing (1) 9 3 6 4 3 2

QUANTITY PURCHASED PER PERSON IN ONE MONTH # of six packs purchased # people who purchased this amount 07 16 26 3 13 4 14 5 12 6 10 75 85 95 10 2

IDEAL TEMPERATURE 40 41 41 41

42 42 43 44 44 47 47 47 47 48 49 49 49 51 54 54 55 55 55 56 56 57 58 62 62 62 ==============================================

QNT 275 Week 3 CLO Business Decision Making Project Part 1 (2 Papers)

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CLO Business Decision-Making Project Part 1

Identify a business problem or opportunity at a company where you work or with which you're familiar. This will be a business problem that you use for the individual assignments in Weeks 3-5. It should be a problem/opportunity for which gathering and analyzing some type of data would help you understand the problem/opportunity better. Identify a research variable within the problem/opportunity that could be measured with some type of data collection. Consider methods for collecting a suitable sample of either qualitative or quantitative data for the variable. Consider how you will know if the data collection method would be valid and reliable. Develop a 1,050-word analysis to describe a company, problem, and variable. Include the following in your submission: • Identify the name and description of the selected company, • Describe the problem at that company, • Identify one research variable from that problem, • Describe the methods you would use for collecting a suitable sample of either qualitative or quantitative data for the variable (Note: do not actually collect any data) • Analyze how you will know if the data collection method would generate valid and reliable data (Note: do not actually collect any data)

Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

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QNT 275 Week 3 Individual Assignment Descriptive Statistics (Score 85%)

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Individual Assignment: Descriptive Statistics: Identify a research problem different from the previous research problems that uses two different sets of the same type of data. Example: Sales from two different months or years. GPA's of men and women. Number of two different shelf items sold (Coke & Pepsi) by month over a year. Home sales prices in different suburbs, cities, counties or states. You wish to determine if there is a significant difference between the means of the data sets. Select data that have absolute zero measurements (Ratio data). You may use recorded data or made up data. The n sample size should be at least 10 in each set, but not more than 20. Prepare a paper describing the research problem, research purpose and one research question. Include a definition of the variables you are

measuring. List the data. List alpha, the null and alternative hypothesis, and give a brief back ground. Do MegaStat descriptive statistics on the data and do data analysis describing the data. Do runs plot graphs. Interpret the Goodness of Fit (GOF) p-value to decide if the data is parametric (normal) or nonparametric. Conclude. Use the sample I3 Descriptive Statistics as a guide. This paper should be between 700-1000 words. Post as an Individual Assignment. Title the document file "Descriptive Statistics I3". ==============================================

QNT 275 Week 3 Practice: Connect Knowledge Check

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QNT 275 Week 3 Practice: Connect Knowledge Check 1. A plant manager knows that the number of boxes of supplies received weekly is normally distributed with a mean of 200 and a standard deviation of 20. What percentage of the time will fewer than 160 boxes of supplies arrive in a week? 2.28% 4.56%

42.07% 57.93% P(x < 160) = P(z < (160 â&#x2C6;&#x2019; 200)/20) = P(z < â&#x2C6;&#x2019;2) = 0.0228 2. The z value tells us the number of standard deviations that a value x is from the mean. True False

3. An event is a collection of sample space outcomes. True False 4. Determine whether these two events are mutually exclusive: consumer with an unlisted phone number and a consumer who does not drive. not mutually exclusive mutually exclusive

5. Determine whether these two events are mutually exclusive: unmarried person and a person with an employed spouse. not mutually exclusive mutually exclusive 6. Which of the following statements about the binomial distribution is not correct?

Each trial results in a success or failure. Trials are independent of each other. The experiment consists of n identical trials. The random variable of interest is continuous. The probability of success remains constant from trial to trial. 7. For a continuous random variable x, the height of the probability curve f(x) at a particular point indicates the value of the probability for that value. True False

8. An important part of the customer service responsibilities of a cable company is the speed with which trouble in service can be repaired. Historically, the data show that the likelihood is 0.75 that troubles in a residential service can be repaired on the same day. For the first five troubles reported on a given day, what is the probability that all five will be repaired on the same day? .2373 .9990 .0010 .6328 P(x = 5) = .2373

9. A standard normal distribution has a mean of ____________ and standard deviation of ____________. zero, one zero, zero

one, zero one, one 10. A letter is drawn from the alphabet of 26 letters. What is the probability that the letter drawn is a vowel? 5/26 21/26 1/26 4/26 AEIOU; 5 vowels out of 26 letters. 11. The set of all possible outcomes for an experiment is called a(n) ____________. event probability sample space experiment

12. Using the following probability distribution table of the random variable x, what is the probability of x = 3? 5/15 2/15 1/15 3/15 All values of P(X) need to sum to 1, so 5/15 + 4/15 + 1/15 = 10/15 means P(X = 3) = 5/15. ==============================================

QNT 275 Week 3 Probability Case Study 5.2

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Week 3 Learning Team Collaboration Discussion: Probability Resource: Case Study 5.2 in Chapter 5 of Essentials of Business Statistics Calculate the requested probabilities for items 1-3. Discuss your findings for the probabilities. What was the smoking trend from 1997-2007?

Is this a discrete, continuous, or conditional probability? Why?

What steps might you recommend, related to smoking behavior, based on this trend? ==============================================

QNT 275 Week 3 Probability Case Study 5.2

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Week 3 Learning Team Collaboration Discussion: Probability Resource: Case Study 5.2 in Chapter 5 of Essentials of Business Statistics Calculate the requested probabilities for items 1-3. Discuss your findings for the probabilities. What was the smoking trend from 1997-2007?

Is this a discrete, continuous, or conditional probability? Why?

What steps might you recommend, related to smoking behavior, based on this trend? ==============================================

QNT 275 Week 3 Quiz

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QNT 275 Week 3 Quiz Question 1: • You work in marketing for a company that produces work boots. Quality control has sent you a memo detailing the length of time before the boots wear out under heavy use. They find that the boots wear out in an average of 208 days, but the exact amount of time varies, following a normal distribution with a standard deviation of 14 days. For an upcoming ad campaign, you need to know the percent of the pairs that last longer than six months-that is, 180 days. Use the empirical rule to approximate this percent. Question 2: For any normally distributed random variable with mean μ and standard deviation σ, the percent of the observations that fall between μ-2σ and μ+2σ is closest to _______. Question 3: • Which of the following is correct? Question 4: • What does it mean when we say that the tails of the normal curve are asymptotic to the x axis? Question 5: • The probability that a normal random variable is less than its mean is ____. Question 6: • Mutually exclusive and collectively exhaustive events _______________.

Question 7: • Which of the following can be represented by a discrete random variable? Question 8: • What is probability? Question 9: • Which of the following can be represented by a continuous random variable? Question 10: • A continuous random variable has the uniform distribution on the interval [a, b] if its probability density function f(x) ___________. ==============================================

QNT 275 Week 4 Apply: Connect Week 4 Case

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Customized Work for QNT 275 https://uopcourses.com/sd_product/qnt-275-weekly-practice-connectknowledge-check-apply-connect-weekly-case/

Part 1

You manage Human Relations for your company. One of your sales managers has retired, leaving an opening. You are considering two different employees for the position. Both are highly qualified so you have decided to evaluate their sales performance for the past year.

Use the Week 4 Data Set to create and calculate the following in ExcelÂŽ: Determine the range of values in which you would expect to find the average weekly sales for the entire sales force in your company 90% of the time. Calculate the impact of increasing the confidence level to 95%? Calculate the impact of increasing the sample size to 150, assuming the same mean and standard deviation, but allowing the confidence level to remain at 90%? Based on the calculated confidence interval for weekly sales on the sample of 50 reps at a 90% confidence level: Calculate both Repsâ&#x20AC;&#x2122; average weekly performance and highlight if it is greater than the population mean. You want to determine whether there is a statistically different average weekly sales between Sales Rep A and Sales Rep B. Create Null and Alternative Hypothesis statements that would allow you to determine whether their sales performance is statistically different or not. Use a significance level of .05 to conduct a t-test of independent samples to compare the average weekly sales of the two candidates. Calculate the p-value? Considering that individual you did not promote: Determine whether this personâ&#x20AC;&#x2122;s average weekly sales are greater than the average weekly sales for the 50 sales reps whose data you used to develop confidence intervals.

Create Null and Alternative Hypothesis statements that would allow you to determine whether the new Sales Manager’s weekly average sales are greater than the sample of Sales Reps. Use a significance level of .05 to conduct a t-test of independent samples to compare the average weekly sales of both. Calculate the p-value? SAMPLE OF WEEKLY SALES Sales Rep # AverageWeekly Sales(\$) Week # Weekly Sales(\$) – Rep A Weekly Sales(\$) – Rep B 1 1228 1 4657 5839 2 7374 2 6133 2602 3 1055 3 3438 2830 4 1859 4 7394 4763 5 3938 5 4327 3740 6 1692 6 2552 1315 7 569 7 7063 1599 8 4059 8 7844 1629 9 3689 9 6898 2416 10 607 10 4003 2107 11 1370 11 6884 4237 12 3735 12 4007 6322 13 3305 13 7214 2710 14 7228 14 2358 5890 15 6279 15 7745 5119 16 1671 16 1337 5184 17 5708 17 1052 3439 18 2569 18 6056 4828 19 4163 19 1495 3667 20 1519 20 3530 2518 21 7734 21 4749 6073 22 784 22 3833 5566 23 6766 23 7869 4555 24 7261 24 4541 5867 25 5034 25 6882 6039 26 7115 26 3868 1032

27 6291 27 5934 4834 28 6287 28 4447 3687 29 2080 29 5504 2214 30 7621 30 5554 4659 31 1047 32 6517 33 5172 34 3876 35 5429 36 4538 37 3786 38 2510 39 4863 40 7246 41 1175 42 641 43 4269 44 7034 45 3406 46 2256 47 3182 48 5178 49 4428 50 1189 ==============================================

QNT 275 Week 4 CLO Business Decision Making Project Part 2 (2 Papers)

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This Tutorial contains 2 Papers

QNT 275 Week 4 Individual Assignment t-test I4

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Individual Assignment: t-test I4: Identify a research problem different from the previous research problems that uses two different sets of the same type of data. Any subject may be chosen. Some examples: Sales from two different months or years. GPA's of men and women. Number of two different shelf items sold (Coke & Pepsi) by month over a year. Home sales prices in different suburbs, cities, counties or states. You wish to determine if there is a significant difference between the means of the data sets. Select data that have absolute zero measurements (Ratio data). You may use recorded data or made up data. The n sample size should be at least 10 in each set, but not more than 29. Prepare a paper with a table of contents. Describe the research problem, research purpose and one research question. Include a definition of the variables you are measuring. List the data. List alpha, the null and alternative hypothesis, and give a brief back ground. Do MegaStat descriptive statistics on the data and do data analysis describing the data. Do runs plot graphs. Interpret the Goodness of Fit (GOF) p-value to decide if the data is parametric (normal) or nonparametric. t-test: Open Excel, log in both data sets. Go to Add Ins, Megastat, Hypothesis Tests, Compare Two Independent Groups, left mouse click highlight Group 1 then Group 2, OK. Conclude. Use the I4 sample as a

guide. This paper should be between 900-1200 words. Post as an Individual assignment. Title the document file "t-test I4". ==============================================

QNT 275 Week 4 Linear Regression Case 12 1

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Resource: Case Study 12.1 in Chapter 12 of Essentials of Business Statistics. Click the Sushi Restaurant Data Set link. Calculate the linear regression in item 1 of the case study. Discuss the following with your team:   

Explain if simple regression or multiple regression is more appropriate for making predictions in this case. Predict what will happen to sales based on unemployment rate and the level of advertising Justify your predictions.

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QNT 275 Week 4 Practice Connect Knowledge Check

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Customized Work for QNT 275 https://uopcourses.com/sd_product/qnt-275-weekly-practice-connectknowledge-check-apply-connect-weekly-case/ Based on a random sample of 25 units of product X, the average weight is 102 lb and the sample standard deviation is 10 lb. We would like to decide if there is enough evidence to establish that the average weight for the population of product X is greater than 100 lb. Therefore, the alternative hypothesis can be written as HA: Îź > 100. (Assume the population is normally distributed.) True False The null hypothesis is a statement that will be accepted only if there is convincing sample evidence that it is true. True False

A research study investigated differences between male and female students. Based on the study results, we can assume the population mean and standard deviation for the GPA of male students are Âľ = 3.5 and Ď&#x192; = 0.5. Suppose a random sample of 100 male students is selected and the GPA for each student is calculated. What is 7.0 3.5 0.05 0.5 If we have a sample size of 100 and the estimate of the population proportion is .10, we can estimate the sampling distribution of with a normal distribution. True False The power of a statistical test is the probability of rejecting the null hypothesis when it is false. True False A recent study conducted by the state government attempts to determine whether the voting public supports a further increase in cigarette taxes. The opinion poll recently sampled 1,500 voting age citizens. 1,020 of the sampled citizens were in favor of an increase in cigarette taxes. The state government would like to decide if there is enough evidence to establish whether the proportion of citizens supporting an increase in cigarette taxes is significantly greater than .66. What is the alternative hypothesis? p â&#x2030;¤ .66 p < .66 p = .66 p > .66 The t distribution always has n degrees of freedom. True False It has been reported that the average time to download the home page from a government website was 0.9 seconds. Suppose that the download

0.9 For a given hypothesis test, if we do not reject H0, and H0 is true, no error has been committed. a Type I error has been committed. a Type II error has been committed. a Type III error has been committed. According to the Central Limit Theorem, if a sample size is at least _____, then for most sampled populations, we can conclude that the sample means are approximately normal. 50 25 20 30 If the sampled population distribution is skewed, then in most cases the sampling distribution of the mean can be approximated by the normal distribution if the sample size n is at least 30. True False The sampling distribution of a sample statistic is the probability distribution of the population of all possible values of the sample statistic. True False A(n) _____________ hypothesis is the statement that is being tested. It usually represents the status quo, and it is not rejected unless there is convincing sample evidence that it is false. true research alternative null The diameter of small Nerf balls manufactured overseas is expected to be approximately normally distributed with a mean of 5.2 inches and a standard deviation of .08 inches. Suppose a random sample of 20 balls is selected. Calculate the mean of the sampling distribution of the sample mean.

0.8 5.2 0.08 0.018 If a population distribution is known to be normal, then it follows that None of the other choices is correct. the sample mean must equal the population mean. the sample mean must equal the population mean, the sample mean must equal the population mean for large samples, and the sample standard deviation must equal the population standard deviation. the sample standard deviation must equal the population standard deviation. the sample mean must equal the population mean for large samples. If p = .8 and n = 50, then we can conclude that the sampling distribution of is approximately a normal distribution. True False As the sample size increases, the standard deviation of the sampling distribution increases. True False

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QNT 275 Week 4 Practice Set

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Find z for each of the following confidence levels. Round to two decimal places. 90% 95% 96% 97% 98% 99% For a data set obtained from a random sample, n = 81 and x = 48.25. It is known that σ = 4.8. What is the point estimate of μ? Round to two decimal places Make a 95% confidence interval for μ. What is the lower limit? Round to two decimal places. Make a 95% confidence interval for μ. What is the upper limit? Round to two decimal places. What is the margin of error of estimate for part b? Round to two decimal places. Determine the sample size (nfor the estimate of μ for the following. E = 2.3, σ = 15.40, confidence level = 99%. Round to the nearest whole number. E = 4.1, σ = 23.45, confidence level = 95%. Round to the nearest whole number. E = 25.9, σ = 122.25, confidence level = 90%. Round to the nearest whole number.

True or False. a.The null hypothesis is a claim about a population parameter that is assumed to be false until it is declared false. True False An alternative hypothesis is a claim about a population parameter that will be true if the null hypothesis is false. True False The critical point(s) divide(s) is some of the area under a distribution curve into rejection and nonrejection regions. True False The significance level, denoted by Îą, is the probability of making a Type II error, that is, the probability of rejecting the null hypothesis when it is actually true. True False The nonrejection region is the area to the right or left of the critical point where the null hypothesis is not rejected. True False

You are given the null hypothesis. Select the correct alternative hypothesis. H0: Îź = 5 hours, what is H1? left-tailed test right-tailed test two-tail test

H0: μ = \$105, what is H1? left-tailed test right-tailed test two-tail test H0: μ = \$47,000, what is H1? left-tailed test right-tailed test two-tail test H0: μ = 10 minutes, what is H1? left-tailed test right-tailed test two-tail test H0: μ = 30 hours, what is H1? left-tailed test right-tailed test two-tail test

Fill in the blank. The level of significance in a test of hypothesis is the probability of making a ________. It is the area under the probability distribution curve where we reject H0. Type I error Type II error Type III error Consider H0: μ = 45 versus H1: μ < 45. A random sample of 25 observations produced a sample mean of 41.8. Using α = .025 and the population is known to be normally distributed with σ = 6.

What is the value of z? Round to two decimal places. Would you reject the null hypothesis? Reject Ho Do not reject Ho

The following information is obtained from two independent samples selected from two normally distributed populations. n1 = 18 x1 = 7.82 σ1 = 2.35 n2 =15

x2 =5.99

σ2 =3.17

What is the point estimate of μ1 − μ2? Round to two decimal places. Construct a 99% confidence interval for μ1 − μ2. Find the margin of error for this estimate. Round to two decimal places.

The following information is obtained from two independent samples selected from two populations. n1 =650

x1 =1.05

n2 =675

x2 =1.54

σ1 =5.22 σ2 =6.80

Test at a 5% significance level if μ1 is less than μ2. Identify the appropriate distribution to use. t distribution normal distribution

What is the conclusion about the hypothesis?

Reject Ho Do not reject Ho

Using data from the U.S. Census Bureau and other sources, www.nerdwallet.com estimated that considering only the households with credit card debts, the average credit card debt for U.S. house- holds was \$15,523 in 2014 and \$15,242 in 2013. Suppose that these estimates were based on random samples of 600 households with credit card debts in 2014 and 700 households with credit card debts in 2013. Suppose that the sample standard deviations for these two samples were \$3870 and \$3764, respectively. Assume that the standard deviations for the two populations are unknown but equal. Let μ1 and μ2 be the average credit card debts for all such households for the years 2014 and 2013, respectively. What is the point estimate of μ1 − μ2? Round to two decimal places. Do not include the dollar sign. Construct a 98% confidence interval for μ1 − μ2. Round to two decimal places. Do not include the dollar sign. What is the lower bound? Round to two decimal places. What is the upper bound? Round to two decimal places. Using a 1% significance level, can you conclude that the average credit card debt for such households was higher in 2014 than in 2013? Use both the p-value and the critical-value approaches to make this test. Reject Ho Do not reject Ho ==============================================

QNT 275 Week 4 Presentation (13 and 14)

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Prepare an 11- to 15-slide Microsoft® PowerPoint® presentation for the senior management team based on the business problem or opportunity you described 13 and 14

Include on the slides what you would want the audience to see (include appropriate visual aids/layout). In the Speaker Notes section, include what you would say as you present each slide. If any source material is quoted or paraphrased in the presentation, use APA citations and references.

Draw on material you developed in the 13 Research Problem and 14 Research Problem

Include the following in your presentation:

·

Introduction slide

·

Agenda slide

·

Describe the organization, with a brief description

·

Explain the business problem or opportunity

·

Analyze why the business problem is important

· Identify what variable would be best to measure for this problem and explain why

· Apply data analysis techniques to this problem (tell which techniques should be used: descriptive stats, inferential stats, probability) and explain why

· Apply a possible solution to the problem/opportunity, with rationale

· Evaluate how data could be used to measure the implementation of such a solution

·

Conclusion

· References slide (if any source material is quoted or paraphrased throughout the presentation)

Format your assignment consistent with APA guidelines.

QNT 275 Week 4 Quiz

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QNT 275 Week 4 Quiz Question 1: • Serial correlation is typically observed in: Question 2: • Another name for an explanatory variable is the ___. Question 3: • Which of the following variables is not qualitative? Question 4: • Consider the following simple linear regression model: y=βo+β1^(x+ε) The response variable is: Question 5: • Which of the following violates the assumptions of regression analysis?

Question 6: • In a simple linear regression model, if the plots on a scatter diagram lie on a straight line, what is the standard error of the estimate? Question 7: • Consider the following simple linear regression model: y=βo+β1^(x+ε)β0 and β1 are: Question 8: • For a given set of explanatory variables, in general: Question 9: • The standard error of the estimate measures: Question 10: • What is the name of the variable that's used to predict another variable? ==============================================

QNT 275 Week 5 Apply Connect Week 5 Case

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Customized Work for QNT 275 https://uopcourses.com/sd_product/qnt-275-weekly-practice-connectknowledge-check-apply-connect-weekly-case/

QNT 275 Week 5 Apply Connect Week 5 Case You are the manager of a retail store. You want to investigate how metrics can improve the way you manage your business. Use the Week 5 Data Set to create and calculate the following in ExcelÂŽ: Conduct a goodness of fit analysis which assesses orders of a specific item by size (expected) and items you received by size (observed). Conduct a hypothesis test with the objective of determining if there is a difference between what you ordered and what you received at the .05 level of significance. Identify the null and alternative hypotheses. What is your conclusion? Generate a scatter plot, the correlation coefficient, and the linear equation that evaluates whether a relationship exists between the number of times a customer visited the store in the past 6 months and the total amount of money the customer spent. Set up a hypothesis test to evaluate the strength of the relationship between the two variables. Use a level of significance of .05. Use the regression line formula to forecast how much a customer might spend on merchandise if that customer visited the store 13 times in a 6 month period. Consider the average monthly sales of 2014, \$1310, as your base then Calculate indices for each month for the next two years (based on the 24 months of data). Graph a time series plot. In the Data Analysis Toolpak, use Excelâ&#x20AC;&#x2122;s Exponential Smoothing option. Apply a damping factor of .5, to your monthly sales data, then create a new time series graph that compares the original and the revised monthly sales data.

ORDERS VS. SHIPMENTS Size # Ordered # Received Extra Small 30 23 Small 50 54 Medium 85 92 Large 95 91 Extra Large 60 63 2X Large 45 42 CUSTOMERS IN PAST 6 MONTHS Customer # # Visits \$ Purchases 1 8 468 2 6 384 3 8 463 4 2 189 5 10 542 6 4 299 7 6 345 8 2 197 9 4 293 10 1 119 11 3 211 12 9 479 13 7 430 14 7 404 15 6 359 16 10 544 17 9 522 18 5 327 19 6 353 20 7 405 21 4 289 22 7 386 23 7 403 24 1 146 25 7 416

26 9 485 27 3 333 28 7 241 29 2 391 30 6 268 MONTHLY SALES (\$) Month \$ Sales Jan 1375 Feb 1319 Mar 1222 Apr 1328 May 1493 Jun 1492 Jul 1489 Aug 1354 Sep 1530 Oct 1483 Nov 1450 ==============================================

QNT 275 Week 5 Assignment Business Problem or Opportunity Presentation

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Prepare an 11- to 15-slide Microsoft® PowerPoint® presentation for the senior management team based on the business problem or opportunity you described in Weeks 3 and 5. Include on the slides what you would want the audience to see (include appropriate visual aids/layout). In the Speaker Notes section, include what you would say as you present each slide. If any source material is quoted or paraphrased in the presentation, use APA citations and references. Draw on material you developed in the Week 3 and 4 assignments. Include the following in your presentation: • Introduction slide • Agenda slide • Describe the organization, with a brief description • Explain the business problem or opportunity • Analyze why the business problem is important • Identify what variable would be best to measure for this problem and explain why • Apply data analysis techniques to this problem (tell which techniques should be used: descriptive stats, inferential stats, probability) and explain why • Apply a possible solution to the problem/opportunity, with rationale • Evaluate how data could be used to measure the implementation of such a solution • Conclusion • References slide (if any source material is quoted or paraphrased throughout the presentation) Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. ==============================================

QNT 275 Week 5 CLO Business Decision Making Project Part 3 (2 PPT)

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CLO Business Decision Making Project, Part 3 Prepare an 11- to 15-slide Microsoft® PowerPoint® presentation for the senior management team based on the business problem or opportunity you described in Weeks 3-4. Include on the slides what you'd want the audience to see (include appropriate visual aids/layout) and include in the Speaker's Notes section what you'd say as you present each slide. If any source material is quoted or paraphrased in the presentation, use APA citations and references. Draw on material you developed in the Weeks 3-4 assignments. Include the following in your presentation: • Introduction slide

• Agenda slide • Describe the organization, with a brief description • Explain the business problem or opportunity • Analyze why the business problem is important • Identify what variable would be best to measure for this problem. Explain why. • Apply data analysis techniques to this problem (tell which techniques should be used: descriptive stats, inferential stats, probability, linear regression, time series). Explain why. • Apply a possible solution to the problem/opportunity, with rationale. • Evaluate how data could be used to measure the implementation of such a solution. • Conclusion • References slide (if any source material is quoted or paraphrased throughout the presentation) ==============================================

QNT 275 Week 5 Individual Assignment Final z-test (Set 2)

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Individual Assignment Final: z-test: Identify a research problem different from the previous research problems that uses two different sets of the same type of data. Example: Sales from two different months or years. GPA's of men and women. Number of two different shelf items sold (Coke & Pepsi) by month over a year. Home sales prices in different suburbs, cities counties or states. You wish to determine if there is a significant difference between the means of the data sets. Select data that have absolute zero measurements (Ratio data). You may use recorded data or made up data. The n sample size should be at least 30 in each set, but not more than 50. Prepare a paper with a table of contents. Describe the research problem, research purpose and one research question. Include a definition of the variables you are measuring. List the data. List alpha, the null and alternative hypothesis, and give a brief back ground. Do MegaStat descriptive statistics on the data and do data analysis describing the data. Do runs plot graphs. Interpret the Goodness of Fit (GOF) p-value to decide if the data is parametric (normal) or nonparametric. z-Test: Open Excel, log in both data sets. Go to Add Ins, Megastat, Hypothesis Tests, Compare Two Independent Groups, left mouse click highlight Group 1 then Group 2, check z-test in the box. OK. Conclude. Use the I5 sample as a guide. This paper should be between 900-1200 words. Post as an Individual assignment. Title the document file "z-Test I5". ==============================================

QNT 275 Week 5 Individual Assignment Final z-test

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Individual Assignment Final: z-test: Identify a research problem different from the previous research problems that uses two different sets of the same type of data. Example: Sales from two different months or years. GPA's of men and women. Number of two different shelf items sold (Coke & Pepsi) by month over a year. Home sales prices in different suburbs, cities counties or states. You wish to determine if there is a significant difference between the means of the data sets. Select data that have absolute zero measurements (Ratio data). You may use recorded data or made up data. The n sample size should be at least 30 in each set, but not more than 50. Prepare a paper with a table of contents. Describe the research problem, research purpose and one research question. Include a definition of the variables you are measuring. List the data. List alpha, the null and alternative hypothesis, and give a brief back ground. Do MegaStat descriptive statistics on the data and do data analysis describing the data. Do runs plot graphs. Interpret the Goodness of Fit (GOF) p-value to decide if the data is parametric (normal) or nonparametric. z-Test: Open Excel, log in both data sets. Go to Add Ins, Megastat, Hypothesis Tests, Compare Two Independent Groups, left mouse click highlight Group 1 then Group 2, check z-test in the box. OK. Conclude. Use the I5 sample as a guide. This paper should be between 900-1200 words. Post as an Individual assignment. Title the document file "z-Test I5". ==============================================

QNT 275 Week 5 Practice Connect Knowledge Check

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QNT 275 Week 5 Practice Connect Knowledge Check A sequence of values of some variable or composite of variables taken at successive, uninterrupted time periods is called a seasonal factor. cyclical component. moving average. least squares (linear) trend line. time series. The chi-square goodness-of-fit is _________ a one-tailed test with the rejection region in the right tail. never sometimes always

When the moving average method is used to estimate the seasonal factors with quarterly sales data, a ______ period moving average is used. 4 8 5 2 3 An experiment consists of 400 observations and four mutually exclusive groups. If the probability of a randomly selected item being classified into any of the four groups is equal, then the expected number of items that will be classified into group 1 is _____. 100 125 150 25 The range for r2 is between 0 and 1, and the range for r is between ____________. There is no limit for r. â&#x2C6;&#x2019;1 and 0 0 and 1 â&#x2C6;&#x2019;1 and 1 In simple regression analysis, the quantity that gives the amount by which Y (dependent variable) changes for a unit change in X (independent variable) is called the correlation coefficient. coefficient of determination. slope of the regression line. standard error. y-intercept of the regression line.

The chi-square goodness-of-fit test will be valid if the average of the expected cell frequencies is ______________. between 0 and 5 less than 5 at least 5 greater than 0 at least 1 Suppose that the unadjusted seasonal factor for the month of April is 1.10. The sum of the 12 monthsâ&#x20AC;&#x2122; unadjusted seasonal factor values is 12.18. The normalized (adjusted) seasonal factor value for April cannot be determined with the information provided. is equal to 1.1. is larger than 1.1. is smaller than 1.1. One use of the chi-square goodness-of-fit test is to determine if specified multinomial probabilities in the null hypothesis are correct. True False The slope of the simple linear regression equation represents the average change in the value of the dependent variable per unit change in the independent variable (X). True False The upward or downward movement that characterizes a time series over a period of time is referred to as _____________. irregular variation seasonal variation a trend cyclical variation A major drawback of the aggregate price index is that

it is difficult to compute. percentage comparisons cannot be made to the base year. it does not take into account the fact that some items in the market basket are purchased more frequently than others. it is computed by using the values from a single time series or based on a single product. The correlation coefficient may assume any value between 0 and 1. 0 and 8. −1 and 1. −1 and 0. −∞ and ∞. The number of degrees of freedom associated with a chi-square test for independence based upon a contingency table with 4 rows and 3 columns is _____. 5 7 12 6 In simple linear regression analysis, we assume that the variance of the independent variable (X) is equal to the variance of the dependent variable (Y). True False hose fluctuations that are associated with climate, holidays, and related activities are referred to as __________ variations. trend cyclical seasonal irregular

A ______________________ measures the strength of the relationship between a dependent variable (Y) and an independent variable (X). coefficient of determination standard error slope correlation coefficient When we carry out a chi-square test of independence, the chi-square statistic is based on (r Ă&#x2014; c) â&#x2C6;&#x2019; 1 degrees of freedom, where r and c denote, respectively, the number of rows and columns in the contingency table. True False The correlation coefficient is the ratio of explained variation to total variation. True False A multinomial probability distribution describes data that are classified into two or more categories when a multinomial experiment is carried out. True False The ____________________ is the proportion of the total variation in the dependent variable explained by the regression model. correlation coefficient slope coefficient of determination standard error ==============================================

QNT 275 Week 5 Practice Set

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1. This distribution has only one parameter. The curve is skewed to the right for small df and becomes symmetric for large df. The entire distribution curve lies to the right of the vertical axis. The distribution assumes nonnegative values only 1. t distribution 2. Normal distribution 3. Chi-square distribution 4. Linear regression. 2. Find the value of x2 for 12 degrees of freedom and an area of .025 in the right tail of the chisquare distribution curve. What is the value of chi-square? Round to three decimal places 3. Determine the value of x2 for 14 degrees of freedom and an area of .10 in the left tail of the chi-square distribution curve. What is the value of chi-square? Round to three decimal places

4. Determine the value of x2 for 23 degrees of freedom and an area of .990 in the left tail of the chi-square distribution curve. What is the value of chi-square? Round to three decimal places. 5. Α ____________ compares the observed frequencies from a multinomial experiment with expected frequencies derived from a certain pattern or theoretical distribution. The test evaluates how well the observed frequencies fit the expected frequencies. 1. Goodness-of-fit test 2. Chi-square test 3. Linear regression 6. The __________ are the frequencies obtained from the performance of a multinomial experiment. The expected frequencies are the frequencies that we expect to obtain if the null hypothesis is true. 1. Observed frequencies 2. Expected frequencies 3. Fluctuating frequencies 7. The expected frequency of a category is given by Ε = np where n is the sample size and p is the probability that an element belongs to that category if the null hypothesis is true. The ________ for a goodness–of–fit test are k – 1, where k denotes the number of possible outcomes (or categories) for the experiment. 1. Number of observations 2. Degrees of freedom 3. Total population

8. This model includes only two variables, one independent and one dependent, is called a _____1______. The ___2____ is the one being explained, and the ___3___ is the one used to explain the variation in the dependent Select the correct letter that would make the sentence true. 9. Select a letter from the list to make this statement true. 10. Select a letter from the list to make this statement true. 11. Select a letter from the list to make this statement true. 12. Linear model 13. Qualitative variable 14. Multivariate analysis of variance 15. Independent variable 16. Simple regression model 17. One-way Analysis of Variance 18. Dependent variable 19. Quantitative variable 9. A population data set produced the following information. N=460, ∑x=3920, ∑y=2650, ∑xy=26,570, ∑x2=48,530 Find the population regression line. Round to three decimal places. Use the format as an example when submitting your equation 456.123 + 789.123x 10. The following information is obtained from a sample data set. n=12, ∑x=66, ∑y=588, ∑xy=2244, ∑x2=396 Find the estimated regression line Use this format as an example when submitting your equation 123 – 45x ==============================================