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QNT 351 Week 1 Connect Problem 1. Which of the following is an example of a continuous variable? 2. The incomes of 50 loan applicants are obtained. Which level of measurement is income? 3. The members of each basketball team wear numbers on their jerseys. What scale of measurement are these numbers considered? 4. The reported unemployment is 5.5% of the population. What measurement scale is used to measure unemployment? 5. The Nielsen Ratings break down the number of people watching a particular television show by age. What level of measurement is age? 6. An example of a qualitative variable is _________________. 7. Two thousand two hundred frequent business travelers are asked which midwestern city they prefer: Indianapolis, Saint Louis, Chicago, or Milwaukee. 112 liked Indianapolis best, 452 liked Saint Louis, 1295 liked Chicago, and the remainder preferred Milwaukee. Develop a frequency table and a relative frequency table to summarize this information. 8. The Cambridge Power and Light Company selected a random sample of 20 residential customers. Following are the amounts, to the nearest dollar, the customers were charged for electrical service last month: a. Compute the arithmetic mean.(Round your answer to 2 decimal places.) b. Indicate whether it is a statistic or a parameter. 9. Consider these five values a population: 6, 3, 7, 3, and 7. a. Determine the mean of the population.
b. Determine the variance of the population. 10. An investor buys 100 shares of AT&T stock and records its price change daily. Which concept of probability would you use to estimate the probability of an individual event?