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BUS308 Week 1 Week One Problems Week One Problems Complete the following problems from the textbook and submit all work in a Word file. You may copy and paste Excel files as a picture into the Word document (see tutorials in chapter appendices). MegaStat is an optional, but recommended, Excel add-on that simplifies statistical analysis in Excel. It is available to download for a fee at the MegaStat website (http://highered.mcgrawhill.com/sites/0077425995/information_center_view0/). Please note that MegaStat works with all recent versions of Excel, including Excel 2007 and Excel 2010, but for Mac is only currently compatible with Excel for Mac 2011. a. Chapter 1: 1.2, 1.17 b. Chapter 3: 3.3, 3.22 Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.

BUS 308 Week 1 DQ1 Performance Report You are the manager at a company and are asked to present a report on the year-to-date performance of your division. What type of statistical information would you include in your report? In particular, which descriptive statistics (mean, median, standard deviation, etc.) do you think would best represent the main aspects of the performance of your division? What types of graphical presentation (histogram, dot plot, stem-and-leaf, bar chart, etc.) would you include? Explain your reasoning. Respond to at least two of your classmatesâ€™ postings.

BUS 308 Week 1 DQ2

The Empirical Rule vs. Chebyshev’s Theorem Discuss how the Empirical Rule works and how it relates to the bell curve as illustrated in Figure 3.14 (a). Then, explain Chebyshev’s Theorem and how it is different from the Empirical Rule. Give a specific example of a population with which the Empirical Rule might be most effective and one with which Chebyshev’s Theorem might be most effective. Respond to at least two of your classmates’ postings

BUS308 Week 1 Quiz 1.The two types of quantitative variables are ordinal and ratio. interval and ordinal. nominative and ordinal. interval and ratio. nominative and interval. 2.As a general rule, when creating a stem-and-leaf display, there should be between ______ stem values. 3 and 100 1 and 100 no fewer than 20 3.The median is the value below which and above which approximately 50 percent of the measurements lie. True False 4.Temperature in degrees Fahrenheit is an example of a ____ variable. nominative ordinal interval ratio

5.Stem-and-leaf displays and dot plots are useful for detecting Outliers Skewness Midpoint of data All of the above 6.Any characteristic of a population unit is called a measurement. sample. observation. variable. 7.The science of using a sample to make generalizations about the important aspects of a population is known as Statistical Process Control. Descriptive Statistics. A random sample. Statistical Inference. 8.A normal population has 99.73 percent of the population measurements within ___ standard deviations of the mean. one

two

three

four

9.When we are choosing a random sample and we do not place chosen units back into the population, we are

sampling with replacement.

sampling without replacement.

using a Systematic Sample.

using a Voluntary Response Sample.

10.An example of manipulation of graphical display used to distort reality is:

Zero at the axes

Equal widths of bars in a histogram

Stretched axes

A&C

BUS308 Week 2 DQ1 Relative Frequency Conceptually we would expect the probability of newborn males and females to be the same. However, census reports indicate that the ratios of males and females in various countries do not conform to the theoretical prediction. What do you think accounts for this variation? Can you think of other cases where the expected probabilities do not quite agree with the empirical values? Respond to at least two of your classmatesâ€™ postings BUS308 Week 2 DQ2 Applications for Probability In what situations might you use probability as a manager to approach business-related problems? What are the advantages to using probability concepts in business decisions? Are there any disadvantages or possible pitfalls to avoid in using probability in business? Respond to at least two of your classmatesâ€™ postings BUS308 Week 2 Week Two Problems Week Two Problems Complete the following problems from the textbook and submit them as a Word file. When appropriate, you may use either Excel or Megastat to complete (see tutorials in chapter appendices). a. Chapter 4: 4.4, 4.20 b. Chapter 5: 5.12 c. Chapter 6: 6.22(a) Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment. BUS308 Week 2 Quiz 1. In the application of Bayes' Theorem the sample information is combined with prior probabilities to obtain posterior probabilities 2. The actual weight of hamburger patties is an example of a continuous random variable 3. A student's grade on an examination was transformed to a z value which is negative. Therefore, we know that he scored

4. The expected value of a discrete random variable is: 5. The following formula: P(A U B) = P(A) + P(B) - P(A ∩ B) represents 6. A standard normal distribution has a mean of ____and standard deviation of ____ 7. A(n) __________ is a measure of the chance that an uncertain event will occur 8. The MPG (mileage per gallon) for a mid-size car is normally distributed with a mean of 32 and a standard deviation of .8. What is the probability that the MPG for a selected mid-size car would be less than 33.2? 9. For a Poisson random variable the mean and the variance equal the average number of occurrences over the time interval (µx = ó2x = µ) 10. In a statistical study, the random variable , if the house is colonial, and if the house is not colonial, then it can be stated that the random variable is continuous BUS308 Week 3 DQ1 Unscientific Sampling Consider question 7.45 from the text: A Milwaukee television station, WITI-TV, conducted a telephone call-in survey asking whether viewers liked the new newspaper, the Journal Sentinel. On April 26, 1995, Tim Cuprisin, a columnist for the Journal Sentinel, wrote the following comment: “WITI-TV (Channel 6) did one of those polls—which they admit are unscientific— last week and found that 388 viewers like the new Journal Sentinel and 2,629 didn’t like it. We did our own unscientific poll on whether those Channel 6 surveys accurately reflect public opinion. The results: a full 100 percent of the respondents say absolutely, positively not.” Is Cuprisin’s comment justified? Write a short paragraph explaining your answer, and respond to at least two of your classmates’ postings BUS308 Week 3 DQ2 Article Review Many articles present statistical data and list margins of error (for example, reports on political opinion polls, growth or decline of the housing markets, manufacturing sectors, etc.). Find one such article from a reliable source (such as EBSCO or Proquest) in the online library that includes a construction of confidence intervals for the data studied, and give a summary of the topic and the statistical results presented. In particular, discuss whether there is enough information presented in the article to arrive at the same conclusion as reported. Respond to at least two of your classmates’ postings BUS308 Week 3 Week Three Problems

Week Three Problems Complete the following problems from the textbook and submit them as a Word file. When appropriate, you may use either Excel or Megastat to complete (see tutorials in chapter appendices). a. Chapter 7: 7.11, 7.30 b. Chapter 8: 8.8, 8.38 Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment. BUS308 Week 3 Quiz 1. When the sample size and sample standard deviation remain the same, a 99% confidence interval for a population mean, Âľ will be _____ the 95% confidence interval for Âľ. 2. A sample statistic is an unbiased point estimate of a population parameter if the mean of the population of all possible values of the statistic equals the population parameter 3. When the sample size and the sample proportion remain the same, a 90% confidence interval for a population proportion p will be ______ the 99% confidence interval for p 4. A manufacturing company measures the weight of boxes before shipping them to the customers. If the box weights have a population mean and standard deviation of 90 lbs and 24 lbs respectively, then, based on a sample size of 36 boxes, the probability that the average weight of the boxes will be less than 84 lbs is 5. When the population is normally distributed and population standard deviation âˆ‘ is unknown, then for any sample size n, the sampling distribution of is a t distribution 6. The central limit theorem states that as sample size increases, the population distribution more closely approximates a normal distribution 7. The results of a scientific poll showed that 64 out of 400 patients at a certain hospital are not satisfied with the care they received in the hospital after major surgery. A consumer advocate claims that 20% of the major surgery patients at the hospital are dissatisfied with after-surgery care. If the advocate's claim is true, what is the probability that 64 or fewer of 400 randomly selected patients at the hospital would say they are dissatisfied with the after-surgery care 8. If the population proportion is .4 with a sample size of 20, then is this sample large enough so that the sampling distribution of is a normal distribution 9. When a confidence interval for a population proportion is constructed for a sample size and the value of, the interval is based on the

10. When the population is normally distributed, population population mean µ is based on standard deviation ó is unknown and the sample size is , the confidence interval for the BUS308 Week 4 DQ1 Hypothesis Test Give an example of a hypothesis test you could perform at work or at home. State what the Null and the Alternative hypotheses would be in your test. Explain how you would settle on a reasonable level of significance for your scenario. Also explain what the type I and II errors would be if you reached the incorrect conclusion in your test. Respond to at least two of your classmates’ postings BUS308 Week 4 DQ2 Creating Hypotheses Assume you are the manager of a paint manufacturing factory. Your company has received complaints from customers that the containers hold less than the amount printed on them. On the other hand, corporate management is concerned that the containers hold more than the standard amount. You assign a statistician to verify these claims. A sample of containers was selected and the volume of paint in each container was measured. Assuming that the volume printed on each container is 1 gallon, how would you formulate the null and alternative hypotheses to test the customers’ claim? As a manager, what reasonable criteria will you use to set a value for the level of significance to be used in the test? After answering this question, what type of error would you suppose may result in that case? Respond to at least two of your classmates’ postings BUS308 Week 4 Week Four Problems Week Four Problems Complete the following problems from the textbook and submit them as a Word file. When appropriate, you may use either Excel or Megastat to complete (see tutorials in chapter appendices). a. Chapter 9: 9.13, 9.22 b. Chapter 12: 12.10, 12.18(a) Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment. BUS308 Week 4 Quiz 1. The manager of the quality department for a tire manufacturing company wants to study the average tensile strength of rubber used in making a certain brand of radial tire. The population is normally distributed and the population standard deviation is known. She uses a Z test to test the

null hypothesis that the mean tensile strength is less than or equal to 800 pounds per square inch. The calculated Z test Statistic is a positive value that leads to a p-value of .067 for the test. If the significance level is .10, the null hypothesis would be rejected 2. For the chi-square goodness of fit test, the rejection point X2a is in 3. Consider using p-value to test H0versus Ha by setting α equal to .10. We reject H0 at level α of significance if and only if the p-value is: 4. Type II error is defined as the probability of ______ H0 , when it should _____ 5. The X2 statistic is used to test whether the assumption of normality is reasonable for a given population distribution. The sample consists of 5000 observations and is divided into 6 categories (intervals). The degrees of freedom for the chi-square statistic is 6. For a hypothesis test about a population mean or proportion, if the level of significance is less than the p-value, the null hypothesis is rejected 7.When carrying out a sample test (with ó known) of H0: µ = 10 vs. Ha: µ > 10 by using a rejection point, we reject Ho at level of significance a if and only if the calculated test statistic is 8. The X2 statistic from a contingency table with 6 rows and five columns will have _____ degrees of freedom 9. Homogeneity is a test of the null hypothesis that all multinomial probabilities are equal 10. When using the chi-square goodness of fit test with multinomial probabilities, the rejection of the null hypothesis indicates that at least one of the multinomial probabilities is not equal to the value stated in the null hypothesis BUS308 Week 5 DQ1 Linear Correlation Do you think there is a correlation between CEO salaries and the degree of success of a company? If you were to take a sample of companies with comparable size, market capitalization, and product category, and plot CEO salaries against the net profit of their respective companies, do you expect to find a linear correlation between the two? Explain. Respond to at least two of your classmates’ postings BUS308 Week 5 DQ2 Quality Control Visit the websites on Quality Control (QC) listed in the Required Websites for this week. In addition, locate an article on the Internet or in the Library databases that describes an example of

the use of statistics in Quality Control. In your post, briefly define Quality Control and explain its importance. Also, describe some of the most widely used tools in the industry for measuring and controlling quality, emphasizing their relationship to what you have encountered in this class. Finally, explain the example from your article of statistics as applied in a Quality Control context. Respond to at least two of your classmates’ postings BUS308 Week 5 Final Project Part 1 and Part 2 Final Project To complete this project, use the “Final Project Data Set” found in your eCollege classroom in the Final Project description. PART I: Calculate the mean yearly value using the average gas prices by month found in the “Final Project Data Set.” Using the years as your x-axis and the annual mean as your y-axis, create a scatterplot and a linear regression line. Answer the following questions using your scatterplot and linear regression line: What is the slope of the linear regression line? What is the Y-intercept of the linear regression line? What is the equation of the linear regression line in slope-intercept form? Based on the linear regression line, what would be an estimated cost of gas in the year 2020? What are the residuals of each year? Select a current price that you have seen or paid recently for gas. Is that price within the range of the linear regression line or is it an outlier? Is it within the confidence interval of 5% or either end? PART II: Imagine that you are a manager at a delivery service and you are creating a report to project the effects on your company of rising gas prices in the next ten years. Using the preceding statistical analysis as your basis and outside scholarly resources to support your claims, write a 3 to 5 page paper interpreting the results from this perspective. Include the following considerations: Introduce the project and its significance to the company. Explain the statistical analysis that you completed in Part I. Be sure to explain where the data came from, what analysis was done, and what the results were. Give conclusions that you have drawn from the data. Consider the effects of your gas price predictions on the delivery business. Also consider whether or not you believe your predicted gas prices are accurate. What could occur in the future that would change your linear regression line and therefore your prediction?