HOMEWORK SETS FOR PRINCIPLES OF STATISTICS I (ECONOMICS 261) Lewis Karstensson, Ph.D. Department of Economics University of Nevada, Las Vegas

Size: px
Start display at page:

Download "HOMEWORK SETS FOR PRINCIPLES OF STATISTICS I (ECONOMICS 261) Lewis Karstensson, Ph.D. Department of Economics University of Nevada, Las Vegas"

Transcription

1 HOMEWORK SETS FOR PRINCIPLES OF STATISTICS I (ECONOMICS 261) Lewis Karstensson, Ph.D. Department of Economics University of Nevada, Las Vegas 2005

2 INTRODUCTION This packet contains the Homework Sets for the ten topics covered in this course. Each set contains (1) a list the Terms to Know, and (2) a set of Problems and Interpretation Questions for a given topic. It is suggested that you use the pertinent homework exercises, together with the text readings and lecture notes, to help you prepare for each course Exam. You should practice defining the terms accurately, noting examples of each where appropriate, work through the problems correctly, and interpret the answers correctly with as much repetition as is necessary to know the material. The process of learning statistics is really no different from that of learning many other things: To learn how to play tennis well, you have to practice playing good tennis; to learn how to play the piano well, you have to practice on the piano a lot; and to learn how to do statistical analysis correctly, you have to practice, and practice, and practice, doing statistical analysis correctly, that is, learning the language of statistics, working problems, and interpreting results correctly. 0.1

3 Course Topics The principal topics considered in this course are the following: Topic 1: Introduction to Statistics 1. The Probabilistic World 2. Some Beginning Terms 3. Some Arithmetic Operations Topic 2: Data Presentation 1. Table Presentations 2. Graph Presentations 3. Using Excel, The Chart Wizard, Function Wizard, Histogram Tool Topic 3: Descriptive Statistics 1. Measures of Central Tendency 2. Measures of Variation 3. Other Measures 4. The Excel Descriptive Statistics Tool, Correlation Tool EXAM 1 Topic 4: Probability 1. The Meaning of Probability 2. Some Probability Terms 3. Probability Rules and Problems Topic 5: Probability Distributions 1. Random Variables and Distributions 2. The Binomial Distribution 3. The Normal Distribution EXAM 2 Topic 6: Random Samples and their Distributions 1. Random Sampling Techniques 2. Sampling Distributions 3. The Central Limit Theorem 0.2

4 0.3 Topic 7: Estimation 1. The Process of Estimation 2. Confidence Intervals 3. Sample Size Estimation Topic 8: Hypothesis Testing 1. The Process of Hypothesis Testing 2. Hypothesis Test for a Mean 3. Hypothesis Test for a Proportion EXAM 3 Topic 9: Small Sample Statistics 1. Student's t-statistic 2. Confidence Interval for a Mean 3. Hypothesis Test for a Mean Topic 10: Regression Analysis 1. Simple Regression Analysis 2. Interpretation of Excel Regression Output EXAM 4 (Final Exam)

5 TOPIC 1 INTRODUCTION TO STATISTICS Terms to Know: Statistics Descriptive statistics Inferential statistics Population Parameter Sample Statistic Variable Quantitative variable Qualitative variable Continuous variable Discrete variable Dummy variable Problems and Interpretation Questions: 1. Identify the following notations: (a) µ (b) σ 2 (c) σ 2. Identify the following notations: _ (a) X (b) S 2 (c) S 3. A researcher observes that average player salaries in professional basketball, baseball, and football in the United States in 1990 (in thousands of current dollars) were $817, $598, and $350, respectively. This is an example of what type of statistics? 4. A researcher is interested in determining the average income for families in Nye County, Nevada. To accomplish this, she takes a random sample of 400 families from the county and uses the data gathered from these families to estimate the average income for families in the entire county. This is an example of what type of statistics? 1.1

6 The owner of a fleet of forty taxis in Las Vegas is trying to estimate his costs for next year's operations. One major cost item is fuel. He measures the gas mileage for eight taxis. The results (in miles per gallon of gasoline) are as follows: 18.1, 13.6, 20.1, 17.5, 17.6, 16.8, 19.0, 19.3 (a) What is the population of interest in this analysis? (b) What is an example of a parameter in this case? (c) What is the sample in this analysis? (d) What is an example of a statistic in this case? 6. Given: X = 1, 2, 3, 4. Perform the following summations: (a) ΣX (b) ΣX 2 (c) Σ(X-2) (d) (ΣX) 2 (e) Σ(X-2) 2 7. Evaluate the following powers: (a) 2 3 (b) 2-3 (c) 2 1 (d) Find the following factorials: (a) 4! (b) 1! (c) 0!

7 TOPIC 2 DATA PRESENTATION Terms to Know: Frequency distribution Relative frequency distribution Cumulative frequency distribution Contingency table Histogram Frequency polygon Ogive Stem and leaf display Line chart Bar chart Column chart Pie chart Scatter diagram (plot) Problems and Interpretation Questions: 1. For practice in data presentation and interpretation, complete the following Solved Problems in Kazmier: 2.23, 2.28, 2.29, 2.32, 2.34, and

8 TOPIC 3 DESCRIPTIVE STATISTICS Terms to Know: Measures of central tendency Arithmetic mean Weighted mean Median Mode Measures of variation Range Variance Sum of squares Standard deviation Coefficient of variation Z-value Empirical rule Chebyshev's theorem Skewness Kurtosis Correlation coefficient Outlier Problems and Interpretation Questions: 1. The number of accidents which occurred during a given month in the 10 manufacturing departments of an industrial plant was: 2, 0, 0, 3, 3, 12, 1, 0, 5, 0 Calculate and interpret the following parameters for this population data set: (a) arithmetic mean. (b) median. (c) mode. (d) range. (e) sum of squares. (f) variance. (g) standard deviation. 2. The weights of a sample of outgoing packages in a mail room, weighed to the nearest ounce, are found to be: 21, 18, 30, 12, 14, 17, 28, 10, 16, 25 Calculate and interpret the following statistics for this sample data set: (a) arithmetic mean. (b) median. (c) mode. (d) range. (e) sum of squares. (f) variance. (g) standard deviation. 3.1

9 Suppose the profit rates for firms A, B, and C were 10, 12, and 15 percent, respectively. The assets of firm A were $2 billion whereas those for the other two firms were $1 billion each. Calculate the: (a) arithmetic mean rate of profit for the firms. (b) asset weighted mean rate of profit for the firms. 4. (a) Calculate coefficients of variation for the distributions given in problems 1 and 2 above. (b) Based on the standard deviation, which distribution shows the greater variation? (c) Which distribution exhibits the greater relative variation? 5. (a) Transform the data given in problem 1 above into Z-values. Interpret the observation, X = 1. (b) Calculate the mean and standard deviation of the distribution of Z-values. Interpret the results. 6. Suppose the Nevada National Bank is reviewing its service charge and interest policies on checking accounts that it holds. The Bank has found that the average daily balance on personal checking accounts is normally distributed around a mean of $ with a standard deviation of $ Between what two amounts will the average balance fall 95 percent of the time? 7. Suppose the rates of return last year on the common stocks in a large portfolio were normally distributed, with a mean of 20 percent and a standard deviation of 10 percent. (a) What proportion of the stocks had a return of between 10 percent and 30 percent? (b) What proportion of the stocks had a positive return? 8. (a) What proportion of the observations in any type of distribution will fall within two standard deviations of the mean? (b) Does this hold for the distribution given in problem 1 above? Explain. 9. A firm manufactures metal rods which must be rejected if they are not between and inches in diameter. While the shape of the distribution of rod sizes is not known, a recent sample of rods indicates a mean diameter of inches and a standard deviation of.025 inches. Estimate the proportion of rods that can be expected to be rejected. 10. Calculate the Pearson coefficient of skewness for the distribution given in problem 1 above. Interpret the result.

10 TOPIC 4 PROBABILITY Terms to Know: Probability Experiment Event Classical approach Relative frequency approach Subjective approach Sample space Elementary events Mutually exclusive events Collectively exhaustive events Composite events Complementary events Independent events Marginal probability Union probability Joint probability Conditional probability Problems and Interpretation Questions: 1. The following contingency table gives admitted headcount student enrollment data for UNLV for the Fall Semester of 2002: Women Men Totals Undergraduate 10,403 8,231 18,634 Graduate 3,024 2,028 5,052 Totals 13,427 10,259 23,686 (a) Construct a probability matrix for these data. (b) What is the probability that a randomly selected student is a woman? (c) What is the probability that a randomly selected student is a woman or undergraduate? (d) What is the probability that a randomly selected student is a woman and undergraduate? (e) What is the probability that a randomly selected woman student is undergraduate? 4.1

11 Because of a firm's growth, it is necessary to transfer one of its employees to one of its branch stores. Three of the nine employees are women and each of the nine employees is equally qualified for the transfer. If the person to be transferred is chosen at random, what is the probability that the transferred person is a woman? 3. Of 100 students, 24 are economics majors, 18 are computer science majors, and 8 are majoring in both economics and computer science. If a student is picked at random, what is the probability that the selected student will be an economics major or a computer science major or both? 4. Suppose 30 percent of American adults own stocks, 20 percent own bonds, and 10 percent own both stocks and bonds. If an investor is one who owns stocks and/or bonds, what proportion of American adults are investors? 5. A firm is considering three possible locations for a new factory. The probability that site A will be selected is 0.30 and the probability that site B will be selected is If only one location will be chosen, what is the probability that: (a) site A or B will be chosen? (b) neither site A nor site B will be chosen? 6. During a given quarter, the probability that GNP will increase, stay the same, or decrease is estimated to be 0.60, 0.10, and 0.30, respectively. What is the probability that GNP will either increase or stay the same during the given quarter? 7. A company estimates that 30% of the population has seen its commercial and that if a person sees its commercial there is a 20% probability that the person will buy its product. What is the probability that a person chosen at random from the population will have seen the commercial and bought its product? 8. If 10% of all light bulbs a company manufactures are defective, the probability of any one bulb being defective is.10. What is the probability that two bulbs drawn independently from the company's stock will be defective? 9. Suppose the probability that a prospect will make a purchase when he is contacted by a salesman is If a salesman selects two prospects randomly from a file and makes contact with them, what is the probability that both prospects will make a purchase? 10. A store manager is asked to make three different yes-no decisions that have no relation to each other. Because he is impatient to leave work, he flips a coin for each decision. If the correct decision in each case was yes, what is the probability that: (a) all decisions were correct? (b) none of the decisions were correct? (c) two or more of the decisions were correct?

12 TOPIC 5 PROBABILITY DISTRIBUTIONS Terms to Know: Random variable Discrete random variable Continuous random variable Discrete probability distribution Probability density curve Expected value Bernoulli process Binomial distribution Normal distribution Standard normal variable Standard normal probability distribution Normal approximation of the binomial distribution Problems and Interpretation Questions: 1. Consider the following probability distribution for the discrete random variable, X: X P(X) (a) Find the expected value of the random variable. (b) Find the standard deviation of the random variable. 2. Suppose there is a.97 probability that no accident will occur at a particular power plant during each day; the probability of one accident is.02; and there is a.01 probability of two accidents. (a) Find the expected number of accidents per day. (b) Find the standard deviation for the number of accidents. 3. The Gamma Corporation is equally likely to sell 0, 1, 2, 3, or 4 bicycles in a day. (a) Find the expected number of bicycles sold per day. (b) Find the standard deviation for the number of bicycles sold. 5.1

13 The arrival of customers during randomly chosen 10-minute intervals at a drive-in facility specializing in photo development and film sales has the following discrete probability distribution: Arrivals Probability X P(X) (a) Find the expected value of arrivals. (b) Find the standard deviation for the arrivals. 5. Solve the following problems using the binomial formula: (a) P(x=4*n=8, p=0.30) (b) P(x<2*n=5, p=0.50) 6. Solve the following problems using the binomial table: (a) P(x=4*n=8, p=0.30) (b) P(x<2*n=5, p=0.50) 7. Mary Johnson owns stock in five companies. There is a 0.50 probability that each stock will rise in price this year. (a) Construct a probability distribution for the number of rising stocks from the binomial table. (b) Draw a probability histogram for this distribution. (c) Calculate the (1) expected value, (2) variance, and (3) standard deviation for this distribution. (d) What is the probability that all five stocks will increase in price? (e) What is the probability that none of the stocks will increase in price? (f) What is the probability that at least two of the stocks will increase in price? 8. Suppose that 40 percent of the hourly employees in a large firm are in favor of union representation, and a random sample of 10 employees are contacted and asked for an anonymous response. What is the probability that a majority of the respondents will be in favor of union representation?

14 The Maroni Corporation bids on 10 jobs, believing that its chances of getting each one is What is the probability that the firm will get one or more of the bids? 10. Find the area under the standard normal curve which lies between the Z-values of: (a) 0 and 1.82 (b) and 0 (c) and 1.08 (d) and Find the probability that the standard normal variable, Z, lies: (a) above 2.3 (b) below -3.0 (c) between 1 and 2 (d) between -1 and Find the value of Z if the area under the standard normal curve: (a) between 0 and Z is.1985 (b) between -Z and 0 is.0910 (c) to the left of Z is.8051 (d) between -Z and Z is Suppose the annual sales of a given firm is a normally distributed random variable with a mean of $300 billion and a standard deviation of $60 billion. What is the probability that the sales for this firm for the year will: (a) be less than $280 billion? (b) exceed $350 billion? (c) be between $185 billion and $265 billion? (d) be between $305 billion and $375 billion? 14. The amount of time required for a given type of automobile transmission repair at a service garage is normally distributed with a mean of 45 minutes and a standard deviation of 8.0 minutes. The service manager plans to have work begin on the transmission of a customer's car 10 minutes after the car is dropped off, and he tells the customer that the car will be ready within 1 hour total time. What is the probability that he will be wrong?

15 Suppose wage increases in a given industry are normally distributed around a mean increase of $1.00 per hour with a standard deviation of $0.30 per hour. While union negotiators are now asking for a raise of $1.45 per hour, they expect to get something less than their request. They, however, do hope to get a raise of no less than $0.90 per hour. What is the probability that the wage increase will: (a) be more than $1.45 per hour? (b) fall within the interval between $0.90 and $1.45? (c) be less than $0.90 per hour? 16. A factory's rate of electric power consumption per day is normally distributed with a mean consumption rate of 8,000 kilowatts and a standard deviation of 1,000 kilowatts. What is the probability that the power consumption on any given day will be: (a) at least 6,500 kilowatts? (b) greater than 10,000 kilowatts? 17. New MBA students at UNLV must take the GMAT examination. Suppose the scores achieved by incoming students are normally distributed with a mean of 500 and a standard deviation of 50. If UNLV gives a scholarship to the top 15 percent of the students, what score must be achieved in order to get a scholarship? 18. A Myrtle Beach resort hotel has 120 rooms. Hotel room occupancy is approximately 75%. What is the probability that: (a) at least half the rooms are occupied on a given day? (b) 100 or more rooms are occupied on a given day? (c) 80 or fewer rooms are occupied on a given day?

16 TOPIC 6 RANDOM SAMPLES AND THEIR DISTRIBUTIONS Terms to Know: Random Sample Simple random sample Systematic random sample Stratified random sample Cluster (area) sample Sampling error Sampling distribution of sample means Sampling distribution of sample proportions Central limit theorem Standard error of the mean Standard error of the proportion Problems and Interpretation Questions: 1. A national tire manufacturer claims that the average lifetime of their premium tire is 50,000 miles. The standard deviation of the lifetime of these tires is 2,000 miles. Suppose all possible samples of size 100 are taken from this population of tires. Calculate the standard error of the mean for this sampling distribution. What does your answer mean? 2. A local firm claims that their tires last 45,000 miles on average with a standard deviation of 2,500 miles. Assuming the firm's claim is correct, suppose a random sample of 100 of these tires is tested. What is the probability that the sample mean found in the test will be equal to or less than 44,500 miles? 3. Studies have shown that the total number of points scored by both teams in National Football League (NFL) games over several seasons has a mean of 41 points with a standard deviation of 14 points. What is the probability of obtaining a mean total score equal to or less than 48 points in a random sample of 30 NFL games? 4. The family income distribution in St. Paul, Minnesota, is skewed to the right. The latest census reveals that the mean family income is $32,000 and that the standard deviation is $4,000. If a simple random sample of 75 families is drawn, what is the probability that the sample mean family income will differ from St. Paul's mean income by more than $500? 5. It is estimated that there are 1,400 automobile dealers in the Chicago area and that the average dollar sales per dealer per month is $750,000. A random sample of 50 dealers is selected, and the mean and standard deviation are calculated. If the standard deviation is equal to $95,000, what is the probability that the sample mean is between $740,000 and $765,000? 6.1

17 A recent survey suggests that the average annual starting salary for economists with a bachelors degree is $34,000 with a standard deviation of $2,500. If a sample of 50 first-year economists is selected randomly, what is the probability that the mean starting salary for this sample will be at least $33,500? 7. Sears claims that seven percent of all video games purchased during the Christmas season are defective and returned. Suppose all possible samples of size 100 are taken from Sears inventory of video games and tested for defects. Calculate the standard error of the proportion for this sampling distribution. What does your answer mean? 8. The unemployment rate in the New Orleans area for a recent month was 9.6%. What is the probability that the percentage unemployed in a random sample of 600 people is over 10%? 9. A mortgage company knows that 8% of its home loan recipients default within the first five years. What is the probability that out of 350 loan recipients, less than 25 will default within the next five years? 10. From past experience, a company knows that 55 percent of the surveys that they send out will be completed and returned. What is the probability that they will have at least 50 percent returned of 125 surveys mailed?

18 TOPIC 7 ESTIMATION Terms to Know: Estimation Estimator Estimate Point estimate Interval estimate Confidence coefficient Sample size estimation Problems and Interpretation Questions: 1. For a large bank having several thousand customers, five checking account balances, selected at random, are: $400, $850, $180, $240, and $160. What is the point estimate for the mean (F) of all checking account balances for this bank? 2. In a survey of 224 large companies conducted by the Conference Board, 45 companies said they give three to five months notice of plant closings. What is the point estimate of the population proportion (π) of companies that give such notice of plant closings? 3. A nursery sells trees of different types and heights. Suppose that 75 pine trees are sold for planting at City Hall. These 75 trees average 60 inches in height with a standard deviation of 16 inches. Calculate the standard error of the mean for this sample. 4. Suppose the population standard deviation on the weight of aluminum ingots is known to be 20 pounds. A random sample of 100 ingots at a given aluminum plant yielded a mean weight of 602 pounds. Construct a 95 percent confidence interval for the population mean weight of aluminum ingots. 5. An economist wishes to estimate the mean population elasticity of supply of poultry farmers at their respective production levels. A random sample of 100 producers yields an average elasticity of supply of 1.9 and a standard deviation of 1.0. Construct a 90 percent confidence interval for the population mean elasticity of supply. 6. Fifty cans of dog food were randomly sampled for cereal content. The mean cereal content was 6.0 oz. with a standard deviation of.05 oz. Construct a 99 percent confidence interval for the population mean cereal content. 7. A sample of 100 new home owners were asked if they were satisfied with the services provided by their real estate agents. In this sample, 92 reported that they were satisfied. Calculate the standard error of proportion for this sample. 7.1

19 A breakfast food company wants to estimate the proportion of cornflake eaters who prefer the flakes soggy when eaten. A sample of 100 cornflake eaters reveals that 30 prefer soggy flakes. Construct a 90 percent confidence interval for the proportion of cornflake eaters in the population who like soggy flakes. 9. A survey was taken from a random group of employees of a large firm. These employees were asked whether or not they were happy with their jobs. Of the 150 employees surveyed, 90 said they were content with their current jobs. Calculate a 95 percent confidence interval for the proportion of employees who were happy with their jobs. 10. A prospective purchaser wishes to estimate the mean dollar amount of sales per customer at a toy store located at an airline terminal. Based on data from other similar airports, the standard deviation of such sales amounts is estimated to be about $3.20. What size random sample should she collect, as a minimum, if she wants to estimate the mean sales amount within $1.00 and with 99 percent level of confidence? 11. A research firm has been asked to estimate the proportion of all restaurants in the state of Ohio that serve alcoholic beverages. The firm wants to be 90 percent confident of its results, but has no idea what the actual proportion is. The firm would like to report an error of no more than How large a sample should it take?

20 TOPIC 8 HYPOTHESIS TESTING Terms to Know: Null hypothesis Alternative hypothesis Type I error Type II error One-tail test Two-tail test Acceptance region Rejection region Level of significance Problems and Interpretation Questions: 1. The Life Insurance Institute, based on a projection from last year's figures, claims that the mean face value of the life insurance policies sold this year is $35,000. A random sample of 49 of this year's policies has an average face value of $38,000 with a sample standard deviation of $20,000. Can the Institute's claim be accepted at the.05 level of significance? 2. The mean size of the stock purchases by customers of Merrill Lynch last month was $2,800. This month Merrill Lynch has reduced its sales commissions hoping to induce larger purchases. A sample of 100 purchases this month had a mean size of $2,900 with a sample standard deviation of $1,500. At the.01 significance level, can it be concluded that the reduced commissions increased average stock purchases? 3. The manufacturer of a new compact car claims that the car will average at least 35 miles per gallon in general highway driving. For 40 test runs, the car averaged 34.5 miles per gallon with a standard deviation of 2.3 miles per gallon. Can the manufacturer's claim be rejected at the 5 percent level of significance? 4. The average annual income for graduates in their first job after completing business school was thought to be $28,000. A survey of 144 recent business school graduates found that the average salary was $28,500 with a standard deviation of $1,200. Test the null hypothesis that the starting salary of business school graduates is $28,000 at the 1 percent level of significance. 5. Greyhound claims that at least 90 percent of the packages it delivers arrive on time. One hundred packages are sent at differing times from differing locations via Greyhound with the result that eighty packages arrive on time. Can Greyhound's claim be accepted at the.10 significance level? 6. The cable comedy channel claims that at least 30 percent of the homes in Las Vegas watch South Park. An advertiser randomly samples 60 homes and finds that 15 are watching South Park. Should the comedy channel's claim be rejected at the 5 percent level of significance? 8.1

21 During the 1996 National Football League (NFL) preseason a total of 62 games were played to conclusion. Of this total, 40 games were won by the home team while the remaining 22 were won by the visiting team. Test the hypothesis that the population proportion (π) of home team wins during the NFL preseason is equal to 50 percent using a.05 level of significance. Interpret the result.

22 TOPIC 9 SMALL SAMPLE STATISTICS Terms to Know: Student's t-distribution Degrees of freedom Problems and Interpretation Questions: 1. An analyst in a personnel department randomly selects the records of 16 hourly employees and finds that the mean wage rate per hour is $9.50. The wage rates in the firm are assumed to be normally distributed. If the standard deviation of the wage rates is known to be $1.00, estimate the mean wage rate in the firm using a 95 percent confidence interval. 2. A retailer wishes to estimate the mean time it takes for a wholesaler to fill an order. From a sample of 10 orders, the retailer finds the mean time is 15 days with a standard deviation of 4 days. Construct a 90 percent confidence interval for the mean time it takes to get an order filled by the wholesaler. 3. Burger Chemical of Newark claims that the mean daily amount of pollutants being emitted from one of its stacks is 880 kilograms. Newark monitors the stack on 25 randomly selected days in order to see if the mean is greater or less than 880 kilograms per day. For the 25 sampled days, the mean was 910 kilograms with a sample standard deviation of 200 kilograms. At the.05 significance level, can Newark conclude that there has been a change in the mean amount of pollutants emitted from the stack? 4. The mean pollution index in Denver was 176 last winter. A random sample of 12 days this winter yielded a mean of 158 with a standard deviation of 40. At the 1 percent level of significance, can it be concluded that the pollution index has declined? 9.1

23 TOPIC 10 REGRESSION ANALYSIS Terms to Know: Deterministic model Stochastic model Simple regression Dependent variable Independent variable Scatter plot Least squares criterion Constant term Slope coefficient Standard error of estimate Residual Coefficient of determination Correlation coefficient Homoscedasticity Problems and Interpretation Questions: 1. A railroad is interested in an analysis of how many meals are demanded on runs of its trains from New York to Florida. Four runs have been sampled yielding the following data on the number of passengers and the number of meals demanded: Passengers (X) Meals (Y) (a) Determine the least squares regression equation for this data set. Explain the equation. (b) Calculate the standard error of estimate. What does the standard error of estimate measure? (c) Test the null hypothesis that the slope of the regression line is zero using a 10 percent level of significance. (d) Calculate the coefficient of determination and the correlation coefficient. What do the obtained values mean? 10.1

24 A large meat packing company has done a study on the relationship between the number of cattle grazing and in feed lots as of May and the supermarket price of beef in the following November. The following has been found for the last four years: Cattle (X) Price (Y) 800 $1.60 1, , , Solve (a) through (d) given in problem Explain the assumptions underlying linear regression. 4. Process the data in problems 1 and 2 above through the Regression Analysis Tool in the Excel Analysis ToolPak: (1) Input the data into a spreadsheet and run the regression. (2) Print the regression output. (3) Answer questions (a) through (d) using the regression printout.

Statistics Summary Exercises

Statistics Summary Exercises 1. A marketing firm wants to determine the typical amount spent during a visit to the grocery store. Each day for one week, they record the amount spent by the first 25 shoppers at a major grocery store.

More information

STAT 2300: Unit 1 Learning Objectives Spring 2019

STAT 2300: Unit 1 Learning Objectives Spring 2019 STAT 2300: Unit 1 Learning Objectives Spring 2019 Unit tests are written to evaluate student comprehension, acquisition, and synthesis of these skills. The problems listed as Assigned MyStatLab Problems

More information

CHAPTER 5: DISCRETE PROBABILITY DISTRIBUTIONS

CHAPTER 5: DISCRETE PROBABILITY DISTRIBUTIONS Discrete Probability Distributions 5-1 CHAPTER 5: DISCRETE PROBABILITY DISTRIBUTIONS 1. Thirty-six of the staff of 80 teachers at a local intermediate school are certified in Cardio- Pulmonary Resuscitation

More information

6. The probability that you win at least $1 both time is (a) 1/2 (b) 4/36 (c) 1/36 (d) 1/4 (e) 3/4

6. The probability that you win at least $1 both time is (a) 1/2 (b) 4/36 (c) 1/36 (d) 1/4 (e) 3/4 AP Statistics ~ Unit 3 Practice Test ANSWERS MULTIPLE CHOICE PRACTICE 1. An assignment of probability must obey which of the following? (a) The probability of any event must be a number between 0 and 1,

More information

1- Number of bicycles sold in one year by a large sporting goods store is an example of what type of data? A) Qualitative B) Quantitative

1- Number of bicycles sold in one year by a large sporting goods store is an example of what type of data? A) Qualitative B) Quantitative Chapter 1 Exercises 1- Number of bicycles sold in one year by a large sporting goods store is an example of what type of data? 2- Colors of baseball caps in a store is an example of what type of data?

More information

(31) Business Statistics

(31) Business Statistics Structure of the Question Paper (31) Business Statistics I Paper - II Paper - Time : 02 hours. 50 multiple choice questions with 5 options. All questions should be answered. Each question carries 02 marks.

More information

Quantitative Methods

Quantitative Methods THE ASSOCIATION OF BUSINESS EXECUTIVES DIPLOMA PART 2 QM Quantitative Methods afternoon 4 June 2003 1 Time allowed: 3 hours. 2 Answer any FOUR questions. 3 All questions carry 25 marks. Marks for subdivisions

More information

Statistics 201 Summary of Tools and Techniques

Statistics 201 Summary of Tools and Techniques Statistics 201 Summary of Tools and Techniques This document summarizes the many tools and techniques that you will be exposed to in STAT 201. The details of how to do these procedures is intentionally

More information

Distinguish between different types of numerical data and different data collection processes.

Distinguish between different types of numerical data and different data collection processes. Level: Diploma in Business Learning Outcomes 1.1 1.3 Distinguish between different types of numerical data and different data collection processes. Introduce the course by defining statistics and explaining

More information

Math227 Sample Final 3

Math227 Sample Final 3 Math227 Sample Final 3 You may use TI calculator for this test. However, you must show all details for hypothesis testing. For confidence interval, you must show the critical value and the margin of error.

More information

Exam 1 - Practice Exam (Chapter 1,2,3)

Exam 1 - Practice Exam (Chapter 1,2,3) Exam 1 - Practice Exam (Chapter 1,2,3) (Test Bank Odds Ch 1-3) TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) Statistics is a discipline that involves tools and techniques

More information

MAS187/AEF258. University of Newcastle upon Tyne

MAS187/AEF258. University of Newcastle upon Tyne MAS187/AEF258 University of Newcastle upon Tyne 2005-6 Contents 1 Collecting and Presenting Data 5 1.1 Introduction...................................... 5 1.1.1 Examples...................................

More information

Business Quantitative Analysis [QU1] Examination Blueprint

Business Quantitative Analysis [QU1] Examination Blueprint Business Quantitative Analysis [QU1] Examination Blueprint 2014-2015 Purpose The Business Quantitative Analysis [QU1] examination has been constructed using an examination blueprint. The blueprint, also

More information

Exam 1 - Practice Exam (Chapter 1,2,3)

Exam 1 - Practice Exam (Chapter 1,2,3) Exam 1 - Practice Exam (Chapter 1,2,3) (Test Bank Odds Ch 1-3) VERSION 2 TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) Statistics is a discipline that involves tools

More information

STA 2023 Test 1 Review You may receive help at the Math Center.

STA 2023 Test 1 Review You may receive help at the Math Center. STA 2023 Test 1 Review You may receive help at the Math Center. These problems are intended to provide supplementary problems in preparation for test 1. This packet does not necessarily reflect the number,

More information

Statistics Year 1 (AS) Unit Test 1: Statistical Sampling

Statistics Year 1 (AS) Unit Test 1: Statistical Sampling Statistics Year 1 (AS) Unit Test 1: Statistical Sampling 1 a Explain what is meant by a census. b Write down two disadvantages of using a census rather than a sample. Each circuit board produced at GC

More information

JMP TIP SHEET FOR BUSINESS STATISTICS CENGAGE LEARNING

JMP TIP SHEET FOR BUSINESS STATISTICS CENGAGE LEARNING JMP TIP SHEET FOR BUSINESS STATISTICS CENGAGE LEARNING INTRODUCTION JMP software provides introductory statistics in a package designed to let students visually explore data in an interactive way with

More information

Practice Final Exam STCC204

Practice Final Exam STCC204 Practice Final Exam STCC24 The following are the types of questions you can expect on the final exam. There are 24 questions on this practice exam, so it should give you a good indication of the length

More information

1/15 Test 1A. COB 191, Fall 2004

1/15 Test 1A. COB 191, Fall 2004 1/15 Test 1A. COB 191, Fall 2004 Name Grade Please provide computational details for questions and problems to get any credit. The following problem is associated with questions 1 to 5. Most presidential

More information

CHAPTER 2: ORGANIZING AND VISUALIZING VARIABLES

CHAPTER 2: ORGANIZING AND VISUALIZING VARIABLES Organizing and Visualizing Variables 2-1 CHAPTER 2: ORGANIZING AND VISUALIZING VARIABLES SCENARIO 2-1 An insurance company evaluates many numerical variables about a person before deciding on an appropriate

More information

CHAPTER 2: ORGANIZING AND VISUALIZING VARIABLES

CHAPTER 2: ORGANIZING AND VISUALIZING VARIABLES Statistics for Managers Using Microsoft Excel 8th Edition Levine Solutions Manual Full Download: http://testbanklive.com/download/statistics-for-managers-using-microsoft-excel-8th-edition-levine-solutions-manu

More information

Statistics 201 Spring 2018 Exam 2 Practice Exam (from Fall 2016)

Statistics 201 Spring 2018 Exam 2 Practice Exam (from Fall 2016) Statistics 201 Spring 2018 Exam 2 Practice Exam (from Fall 2016) Disclaimer: This practice exam is provided solely for the purpose of familiarizing you with the format and style of the Stat 201 exams.

More information

AP Statistics Test #1 (Chapter 1)

AP Statistics Test #1 (Chapter 1) AP Statistics Test #1 (Chapter 1) Name Part I - Multiple Choice (Questions 1-20) - Circle the answer of your choice. 1. You measure the age, marital status and earned income of an SRS of 1463 women. The

More information

Section Sampling Techniques. What You Will Learn. Statistics. Statistics. Statisticians

Section Sampling Techniques. What You Will Learn. Statistics. Statistics. Statisticians Section 13.1 Sampling Techniques What You Will Learn Sampling Techniques Random Sampling Systematic Sampling Cluster Sampling Stratified Sampling Convenience Sampling 13.1-2 Statistics Statistics is the

More information

CHAPTER 2: ORGANIZING AND VISUALIZING VARIABLES

CHAPTER 2: ORGANIZING AND VISUALIZING VARIABLES 2-1 Organizing and Visualizing Variables Organizing and Visualizing Variables 2-1 Statistics for Managers Using Microsoft Excel 8th Edition Levine SOLUTIONS MANUAL Full download at: https://testbankreal.com/download/statistics-for-managers-using-microsoftexcel-8th-edition-levine-solutions-manual/

More information

Math 3339 Test 1 Review

Math 3339 Test 1 Review Math 3339 Test 1 Review 1. A manager notes that there is a.125 probability that any employee will arrive late for work. What is the probability that exactly one person in a six-person department will arrive

More information

Quantitative Analysis for Management, 12e (Render) Chapter 2 Probability Concepts and Applications

Quantitative Analysis for Management, 12e (Render) Chapter 2 Probability Concepts and Applications Quantitative Analysis for Management, 12e (Render) Chapter 2 Probability Concepts and Applications 1) Subjective probability implies that we can measure the relative frequency of the values of the random

More information

Probability and Statistics Cycle 3 Test Study Guide

Probability and Statistics Cycle 3 Test Study Guide Probability and Statistics Cycle 3 Test Study Guide Name Block 1. Match the graph with its correct distribution shape. The distribution shape is categorized as: A. Uniform B. Skewed to the right C. Normal

More information

-SQA-SCOTTISH QUALIFICATIONS AUTHORITY HIGHER NATIONAL UNIT SPECIFICATION GENERAL INFORMATION

-SQA-SCOTTISH QUALIFICATIONS AUTHORITY HIGHER NATIONAL UNIT SPECIFICATION GENERAL INFORMATION -SQA-SCOTTISH QUALIFICATIONS AUTHORITY HIGHER NATIONAL UNIT SPECIFICATION GENERAL INFORMATION -Unit number- 7482149 -Unit title- INTRODUCTION TO STATISTICS FOR QUALITY ANALYSIS -Superclass category- -Date

More information

Test lasts for 120 minutes. You must stay for the entire 120 minute period.

Test lasts for 120 minutes. You must stay for the entire 120 minute period. ECO220 Mid-Term Test (June 29, 2005) Page 1 of 15 Last Name: First Name: Student ID #: INSTRUCTIONS: DO NOT OPEN THIS EAM UNTIL INSTRUCTED TO. Test lasts for 120 minutes. You must stay for the entire 120

More information

Test Name: Test 1 Review

Test Name: Test 1 Review Test Name: Test 1 Review 1. Determine whether the statement describes a population or a sample. The heights of all the corn plants at Mr. Lonardo's greenhouse. 2. Determine whether the statement describes

More information

STAT 225 Fall 2009 Exam 1

STAT 225 Fall 2009 Exam 1 STAT 5 Fall 009 Exam 1 Your name: Your Instructor: Your class time (circle one): 7:0 8:0 9:0 10:0 11:0 1:0 1:0 :0 :0 :0 Note: Show your work on all questions. Unsupported work will not receive full credit.

More information

Identify sampling methods and recognize biased samples

Identify sampling methods and recognize biased samples 9-1 Samples and Surveys Identify sampling methods and recognize biased samples Vocabulary population (p. 462) sample (p. 462) biased sample (p. 463) random sample (p. 462) systematic sample (p. 462) stratified

More information

STATISTICS PART Instructor: Dr. Samir Safi Name:

STATISTICS PART Instructor: Dr. Samir Safi Name: STATISTICS PART Instructor: Dr. Samir Safi Name: ID Number: Question #1: (20 Points) For each of the situations described below, state the sample(s) type the statistical technique that you believe is the

More information

STAT 225 Fall 2009 Exam 1

STAT 225 Fall 2009 Exam 1 STAT 225 Fall 2009 Exam 1 Your name: Your Instructor: Your class time (circle one): 7:30 8:30 9:30 10:30 11:30 12:30 1:30 2:30 3:30 4:30 Note: Show your work on all questions. Unsupported work will not

More information

Midterm Review Summer 2009 Chapters 1 7 Stat 111

Midterm Review Summer 2009 Chapters 1 7 Stat 111 Midterm Review Summer 2009 Chapters 1 7 Stat 111 Name FORM A Directions: Read each question carefully and answer as clearly as possible. 1. A book store wants to estimate the proportion of its customers

More information

Opening SPSS 6/18/2013. Lesson: Quantitative Data Analysis part -I. The Four Windows: Data Editor. The Four Windows: Output Viewer

Opening SPSS 6/18/2013. Lesson: Quantitative Data Analysis part -I. The Four Windows: Data Editor. The Four Windows: Output Viewer Lesson: Quantitative Data Analysis part -I Research Methodology - COMC/CMOE/ COMT 41543 The Four Windows: Data Editor Data Editor Spreadsheet-like system for defining, entering, editing, and displaying

More information

AP Statistics Scope & Sequence

AP Statistics Scope & Sequence AP Statistics Scope & Sequence Grading Period Unit Title Learning Targets Throughout the School Year First Grading Period *Apply mathematics to problems in everyday life *Use a problem-solving model that

More information

Statistics, Data Analysis, and Decision Modeling

Statistics, Data Analysis, and Decision Modeling - ' 'li* Statistics, Data Analysis, and Decision Modeling T H I R D E D I T I O N James R. Evans University of Cincinnati PEARSON Prentice Hall Upper Saddle River, New Jersey 07458 CONTENTS Preface xv

More information

All Exercises: Statistics 213 (L05) - Fall 2007

All Exercises: Statistics 213 (L05) - Fall 2007 1 All Exercises: Statistics 213 (L05) - Fall 2007 1. The universe or totality of items under consideration in a statistical study is a (sample, population, parameter, statistic) 2. the process of using

More information

Lecture 10. Outline. 1-1 Introduction. 1-1 Introduction. 1-1 Introduction. Introduction to Statistics

Lecture 10. Outline. 1-1 Introduction. 1-1 Introduction. 1-1 Introduction. Introduction to Statistics Outline Lecture 10 Introduction to 1-1 Introduction 1-2 Descriptive and Inferential 1-3 Variables and Types of Data 1-4 Sampling Techniques 1- Observational and Experimental Studies 1-6 Computers and Calculators

More information

UNIVERSITY OF MORATUWA

UNIVERSITY OF MORATUWA UNIVERSITY OF MORATUWA MSC/POSTGRADUATE DIPLOMA IN OPERATIONAL RESEARCH MA(5001) INTRODUCTION TO STATISTICS THREE HOURS AUGUST 2009 Answer FIVE questions and NO MORE. ADDITIONAL MATERIAL: Statistical Tables

More information

Estimation Theory. (Exercises)

Estimation Theory. (Exercises) Chapter II Estimation Theory (Exercises) 2. 1. The Annual salary for public school teachers in the US is $32000. The mean salary for a sample of 750 school teachers equals 31895. Identify the population,

More information

Displaying Bivariate Numerical Data

Displaying Bivariate Numerical Data Price ($ 000's) OPIM 303, Managerial Statistics H Guy Williams, 2006 Displaying Bivariate Numerical Data 250.000 Price / Square Footage 200.000 150.000 100.000 50.000 - - 500 1,000 1,500 2,000 2,500 3,000

More information

CHAPTER 10 REGRESSION AND CORRELATION

CHAPTER 10 REGRESSION AND CORRELATION CHAPTER 10 REGRESSION AND CORRELATION SIMPLE LINEAR REGRESSION: TWO VARIABLES (SECTIONS 10.1 10.3 OF UNDERSTANDABLE STATISTICS) Chapter 10 of Understandable Statistics introduces linear regression. The

More information

of a student s grades for the period is a better method than using the mean. Suppose the table at the right shows your test grades.

of a student s grades for the period is a better method than using the mean. Suppose the table at the right shows your test grades. Math Applications The applications that follow are like the ones you will encounter in many workplaces. Use the mathematics you have learned in this chapter to solve the problems. Wherever possible, use

More information

AP Statistics Cumulative Practice Test 3 (Ch 1 Ch 13) Section I: Multiple Choice Choose the best answer.

AP Statistics Cumulative Practice Test 3 (Ch 1 Ch 13) Section I: Multiple Choice Choose the best answer. AP Statistics Cumulative Practice Test 3 (Ch 1 Ch 13) Section I: Multiple Choice Choose the best answer. 1. Suppose the probability that a softball player gets a hit in any single at- bat is.300. Assuming

More information

Chapter 1 Introduction: The Role of Statistics in Engineering

Chapter 1 Introduction: The Role of Statistics in Engineering 1 Chapter 1 Introduction: The Role of Statistics in Engineering Example: The manufacturer of a medical laser used in ophthalmic surgery wants to be able to quote quality characteristics of the laser to

More information

Maths Tables and Formulae wee provided within the question paper and are available elsewhere on the website.

Maths Tables and Formulae wee provided within the question paper and are available elsewhere on the website. Examination Question and Answer Book Foundation Level 3c Business Mathematics FBSM 18 November 00 Day 1 late afternoon INSTRUCTIONS TO CANDIDATES Read this page before you look at the questions THIS QUESTION

More information

SPSS Guide Page 1 of 13

SPSS Guide Page 1 of 13 SPSS Guide Page 1 of 13 A Guide to SPSS for Public Affairs Students This is intended as a handy how-to guide for most of what you might want to do in SPSS. First, here is what a typical data set might

More information

Chapter 5. Statistical Reasoning

Chapter 5. Statistical Reasoning Chapter 5 Statistical Reasoning Measures of Central Tendency Back in Grade 7, data was described using the measures of central tendency and range. Central tendency refers to the middle value, or perhaps

More information

CHAPTER 1 INTRODUCTION TO STATISTICS

CHAPTER 1 INTRODUCTION TO STATISTICS DUM 2413 STATISTICS & PROBABILITY CHAPTER 1 INTRODUCTION TO STATISTICS PREPARED BY: DR. CHUAN ZUN LIANG; DR. NORATIKAH ABU; DR. SITI ZANARIAH SATARI FACULTY OF INDUSTRIAL SCIENCES & TECHNOLOGY chuanzl@ump.edu.my;

More information

Chapter 7: Sampling Distributions

Chapter 7: Sampling Distributions Chapter 7: Sampling Distributions Section 7.3 The Practice of Statistics, 4 th edition For AP* STARNES, YATES, MOORE Chapter 7 Sampling Distributions 7.1 What is a Sampling Distribution? 7.2 Sample Proportions

More information

Statistics and Business Decision Making TEKS/LINKS Student Objectives One Credit

Statistics and Business Decision Making TEKS/LINKS Student Objectives One Credit First Six Weeks Defining and Collecting of Data SBDM 8(A) The student will define the types of variables and the measurement scales of variables. SBDM 8(B) The student will understand the collecting of

More information

Math 1 Variable Manipulation Part 8 Working with Data

Math 1 Variable Manipulation Part 8 Working with Data Name: Math 1 Variable Manipulation Part 8 Working with Data Date: 1 INTERPRETING DATA USING NUMBER LINE PLOTS Data can be represented in various visual forms including dot plots, histograms, and box plots.

More information

Math 1 Variable Manipulation Part 8 Working with Data

Math 1 Variable Manipulation Part 8 Working with Data Math 1 Variable Manipulation Part 8 Working with Data 1 INTERPRETING DATA USING NUMBER LINE PLOTS Data can be represented in various visual forms including dot plots, histograms, and box plots. Suppose

More information

For Questions 1 to 6, refer to the following information

For Questions 1 to 6, refer to the following information For Questions 1 to 6, refer to the following information The Box-and-Whisker plots show the results of the quiz and test for QMS102 in Fall2010 Question 1. Calculate the mode for the quiz result of QMS102

More information

QUESTION 2 What conclusion is most correct about the Experimental Design shown here with the response in the far right column?

QUESTION 2 What conclusion is most correct about the Experimental Design shown here with the response in the far right column? QUESTION 1 When a Belt Poka-Yoke's a defect out of the process entirely then she should track the activity with a robust SPC system on the characteristic of interest in the defect as an early warning system.

More information

Session 7. Introduction to important statistical techniques for competitiveness analysis example and interpretations

Session 7. Introduction to important statistical techniques for competitiveness analysis example and interpretations ARTNeT Greater Mekong Sub-region (GMS) initiative Session 7 Introduction to important statistical techniques for competitiveness analysis example and interpretations ARTNeT Consultant Witada Anukoonwattaka,

More information

Topic 1: Descriptive Statistics

Topic 1: Descriptive Statistics Topic 1: Descriptive Statistics Econ 245_Topic 1 page1 Reference: N.C &T.: Chapter 1 Objectives: Basic Statistical Definitions Methods of Displaying Data Definitions: S : a numerical piece of information

More information

Clovis Community College Class Assessment

Clovis Community College Class Assessment Class: Math 110 College Algebra NMCCN: MATH 1113 Faculty: Hadea Hummeid 1. Students will graph functions: a. Sketch graphs of linear, higherhigher order polynomial, rational, absolute value, exponential,

More information

CHAPTER 2: Descriptive Statistics: Tabular and Graphical Methods Essentials of Business Statistics, 4th Edition Page 1 of 127

CHAPTER 2: Descriptive Statistics: Tabular and Graphical Methods Essentials of Business Statistics, 4th Edition Page 1 of 127 2 CHAPTER 2: Descriptive Statistics: Tabular and Graphical Methods 34 Essentials of Business Statistics, 4th Edition Page 1 of 127 2.1 Learning Objectives When you have mastered the material in this chapter,

More information

Business Statistics: A Decision-Making Approach 7 th Edition

Business Statistics: A Decision-Making Approach 7 th Edition Business Statistics: A Decision-Making Approach 7 th Edition Chapter 2 Graphs, Charts, and Tables Describing Your Data Business Statistics: A Decision-Making Approach, 7e 2008 Prentice-Hall, Inc. Chap

More information

Indicative Syllabus for Tier-II of the Examination: Paper-I (Quantitative Abilities): The questions will be designed to test the ability of appropriate use of numbers and number sense of the candidate.

More information

Indicate the answer choice that best completes the statement or answers the question.

Indicate the answer choice that best completes the statement or answers the question. Indicate the answer choice that best completes the statement or answers the question. For the pair of similar figures, determine the perimeter of the second figure. 1. a. 45 in. b. 24 in. c. 20 in. d.

More information

MGT 233 Homework #2, Fall 2013

MGT 233 Homework #2, Fall 2013 MGT 233 Homework #2, Fall 2013 This homework assignment is due at the beginning of class on October 15, 2013. Instructions: Use proper probability notation for all parts of each problem. Show all work

More information

Statistics Chapter 3 Triola (2014)

Statistics Chapter 3 Triola (2014) 3-1 Review and Preview Branches of statistics Descriptive Stats: is the branch of stats that involve the organization, summarization, and display of data Inferential Stats: is the branch of stats that

More information

Introduction to Analytics Tools Data Models Problem solving with analytics

Introduction to Analytics Tools Data Models Problem solving with analytics Introduction to Analytics Tools Data Models Problem solving with analytics Analytics is the use of: data, information technology, statistical analysis, quantitative methods, and mathematical or computer-based

More information

Finance Practice Midterm #1

Finance Practice Midterm #1 Finance 30210 Practice Midterm #1 1) Suppose that you have the opportunity to invest $50,000 in a new restaurant in South Bend. (FYI: Dr. HG Parsa of Ohio State University has done a study that shows that

More information

Test 6D (cumulative) AP Statistics Name:

Test 6D (cumulative) AP Statistics Name: Test 6D (cumulative) AP Statistics Name: Part 1: Multiple Choice. Circle the letter corresponding to the best answer. 1. A hat holds a large number of slips of paper, each with a single digit from 1 to

More information

Quantitative Methods. Presenting Data in Tables and Charts. Basic Business Statistics, 10e 2006 Prentice-Hall, Inc. Chap 2-1

Quantitative Methods. Presenting Data in Tables and Charts. Basic Business Statistics, 10e 2006 Prentice-Hall, Inc. Chap 2-1 Quantitative Methods Presenting Data in Tables and Charts Basic Business Statistics, 10e 2006 Prentice-Hall, Inc. Chap 2-1 Learning Objectives In this chapter you learn: To develop tables and charts for

More information

Why Learn Statistics?

Why Learn Statistics? Why Learn Statistics? So you are able to make better sense of the ubiquitous use of numbers: Business memos Business research Technical reports Technical journals Newspaper articles Magazine articles Basic

More information

Skills we've learned

Skills we've learned 8 2 Data Gathering Skills we've learned Use the data set for 1 and 3 6:{9, 4, 7, 8, 5, 8, 24, 5} 1. Find the mean, median, and mode. 2. Make a box and whisker plot of the data and find the interquartile

More information

= = Intro to Statistics for the Social Sciences. Name: Lab Session: Spring, 2015, Dr. Suzanne Delaney

= = Intro to Statistics for the Social Sciences. Name: Lab Session: Spring, 2015, Dr. Suzanne Delaney Name: Intro to Statistics for the Social Sciences Lab Session: Spring, 2015, Dr. Suzanne Delaney CID Number: _ Homework #22 You have been hired as a statistical consultant by Donald who is a used car dealer

More information

Mathematics in Contemporary Society - Chapter 5 (Spring 2018)

Mathematics in Contemporary Society - Chapter 5 (Spring 2018) City University of New York (CUNY) CUNY Academic Works Open Educational Resources Queensborough Community College Spring 218 Mathematics in Contemporary Society - Chapter (Spring 218) Patrick J. Wallach

More information

PRACTICE QUESTIONS FOR CH 6 INTRODUCTION ANDD COLLECTION OF NUMERICAL DATA FOR PIPFA Exercise 1(p 171): - Look through the following list of surveys

PRACTICE QUESTIONS FOR CH 6 INTRODUCTION ANDD COLLECTION OF NUMERICAL DATA FOR PIPFA Exercise 1(p 171): - Look through the following list of surveys PRACTICE QUESTIONS FOR CH 6 INTRODUCTION ANDD COLLECTION OF NUMERICAL DATA FOR PIPFA Exercise 1(p 171): - Look through the following list of surveys and decide whether each is collecting data on attributes,

More information

The Dummy s Guide to Data Analysis Using SPSS

The Dummy s Guide to Data Analysis Using SPSS The Dummy s Guide to Data Analysis Using SPSS Univariate Statistics Scripps College Amy Gamble April, 2001 Amy Gamble 4/30/01 All Rights Rerserved Table of Contents PAGE Creating a Data File...3 1. Creating

More information

A is used to answer questions about the quantity of what is being measured. A quantitative variable is comprised of numeric values.

A is used to answer questions about the quantity of what is being measured. A quantitative variable is comprised of numeric values. Stats: Modeling the World Chapter 2 Chapter 2: Data What are data? In order to determine the context of data, consider the W s Who What (and in what units) When Where Why How There are two major ways to

More information

CHAPTER 8 T Tests. A number of t tests are available, including: The One-Sample T Test The Paired-Samples Test The Independent-Samples T Test

CHAPTER 8 T Tests. A number of t tests are available, including: The One-Sample T Test The Paired-Samples Test The Independent-Samples T Test CHAPTER 8 T Tests A number of t tests are available, including: The One-Sample T Test The Paired-Samples Test The Independent-Samples T Test 8.1. One-Sample T Test The One-Sample T Test procedure: Tests

More information

This paper is not to be removed from the Examination Halls

This paper is not to be removed from the Examination Halls This paper is not to be removed from the Examination Halls UNIVERSITY OF LONDON ST104A ZB (279 004A) BSc degrees and Diplomas for Graduates in Economics, Management, Finance and the Social Sciences, the

More information

Chapter 6 - Statistical Quality Control

Chapter 6 - Statistical Quality Control Chapter 6 - Statistical Quality Control Operations Management by R. Dan Reid & Nada R. Sanders 3rd Edition PowerPoint Presentation by R.B. Clough UNH M. E. Henrie - UAA Learning Objectives Describe Categories

More information

Math 141 Practice Exam 3 1. An 8-space code is to be made from the 26 letters of the alphabet with repeats allowed. Find the probability that:

Math 141 Practice Exam 3 1. An 8-space code is to be made from the 26 letters of the alphabet with repeats allowed. Find the probability that: Math 141 Practice Exam 3 1. An 8-space code is to be made from the 26 letters of the alphabet with repeats allowed. Find the probability that: a) the code contains exactly two a's and no other repeats.

More information

Name: Class: Date: 1. Use Figure 2-1. For this density curve, what percent of the observations lie above 4? a. 20% b. 25% c. 50% d. 75% e.

Name: Class: Date: 1. Use Figure 2-1. For this density curve, what percent of the observations lie above 4? a. 20% b. 25% c. 50% d. 75% e. Name: Class: Date: Chapter 2 Review Multiple Choice Identify the choice that best completes the statement or answers the question. EXPLAIN YOUR ANSWERS AND SHOW YOUR WORK. Figure 2-1 1. Use Figure 2-1.

More information

1-Sample t Confidence Intervals for Means

1-Sample t Confidence Intervals for Means 1-Sample t Confidence Intervals for Means Requirements for complete responses to free response questions that require 1-sample t confidence intervals for means: 1. Identify the population parameter of

More information

8. Researchers from a tire manufacturer want to conduct an experiment to compare tread wear of a new type of tires with the old design.

8. Researchers from a tire manufacturer want to conduct an experiment to compare tread wear of a new type of tires with the old design. AP Stats Review HW #7 MULTIPLE CHOICE. 1. The parallel boxplots below represent the amount of money collected (in dollars) in a 1-day fundraiser from each of 16 boys and 16 girls in a certain neighborhood

More information

(a).40 (b).05 (c).20 (d).10 (e) none of these

(a).40 (b).05 (c).20 (d).10 (e) none of these STT 421 Some Example Multiple Choice Questions October 24, 2016 Correction to Answer for Prob 50 November 1, 2016 1. Here are the ages for children in a population of 5 children: {2, 2, 4, 5, 7}. An SRS

More information

Who Are My Best Customers?

Who Are My Best Customers? Technical report Who Are My Best Customers? Using SPSS to get greater value from your customer database Table of contents Introduction..............................................................2 Exploring

More information

small medium large standard $20M $30M $50M horizontal -$20M $40M $90M (a) (5 pts) Find the mean payoffs of the two different drilling strategies.

small medium large standard $20M $30M $50M horizontal -$20M $40M $90M (a) (5 pts) Find the mean payoffs of the two different drilling strategies. Business Statistics 41000 Homework #1 1. An oil company wants to drill in a new location. A preliminary geological study suggests that there is a 20% chance of finding a small amount of oil, a 50% chance

More information

Question 1 Compute the sample coefficient of variation for the round-trip airfares (per person) before tax

Question 1 Compute the sample coefficient of variation for the round-trip airfares (per person) before tax For Questions 1 to 6, refer to the following information The following data show the lowest round-trip airfares (per person) departing Toronto in June 2012, which was advertised at http://www.greatflightcentre.ca

More information

Chapter 2 Ch2.1 Organizing Qualitative Data

Chapter 2 Ch2.1 Organizing Qualitative Data Chapter 2 Ch2.1 Organizing Qualitative Data Example 1 : Identity Theft Identity fraud occurs someone else s personal information is used to open credit card accounts, apply for a job, receive benefits,

More information

Sample Exam 1 Math 263 (sect 9) Prof. Kennedy

Sample Exam 1 Math 263 (sect 9) Prof. Kennedy Sample Exam 1 Math 263 (sect 9) Prof. Kennedy 1. In a statistics class with 136 students, the professor records how much money each student has in their possession during the first class of the semester.

More information

FUNDAMENTALS OF QUALITY CONTROL AND IMPROVEMENT. Fourth Edition. AMITAVA MITRA Auburn University College of Business Auburn, Alabama.

FUNDAMENTALS OF QUALITY CONTROL AND IMPROVEMENT. Fourth Edition. AMITAVA MITRA Auburn University College of Business Auburn, Alabama. FUNDAMENTALS OF QUALITY CONTROL AND IMPROVEMENT Fourth Edition AMITAVA MITRA Auburn University College of Business Auburn, Alabama WlLEY CONTENTS PREFACE ABOUT THE COMPANION WEBSITE PART I PHILOSOPHY AND

More information

FUNDAMENTALS OF QUALITY CONTROL AND IMPROVEMENT

FUNDAMENTALS OF QUALITY CONTROL AND IMPROVEMENT FUNDAMENTALS OF QUALITY CONTROL AND IMPROVEMENT Third Edition AMITAVA MITRA Auburn University College of Business Auburn, Alabama WILEY A JOHN WILEY & SONS, INC., PUBLICATION PREFACE xix PARTI PHILOSOPHY

More information

Business Statistics. Syllabus. General Certificate of Education (Advanced Level) Grade 12 and 13 (Implemented from 2017)

Business Statistics. Syllabus. General Certificate of Education (Advanced Level) Grade 12 and 13 (Implemented from 2017) Business Statistics Syllabus General Certificate of Education (Advanced Level) Grade 12 and 13 (Implemented from 2017) Department of Commerce Faculty of Science and Technology National Institute of Education

More information

Chapter 1 Data and Descriptive Statistics

Chapter 1 Data and Descriptive Statistics 1.1 Introduction Chapter 1 Data and Descriptive Statistics Statistics is the art and science of collecting, summarizing, analyzing and interpreting data. The field of statistics can be broadly divided

More information

An ordered array is an arrangement of data in either ascending or descending order.

An ordered array is an arrangement of data in either ascending or descending order. 2.1 Ordered Array An ordered array is an arrangement of data in either ascending or descending order. Example 1 People across Hong Kong participate in various walks to raise funds for charity. Recently,

More information

e-learning Student Guide

e-learning Student Guide e-learning Student Guide Basic Statistics Student Guide Copyright TQG - 2004 Page 1 of 16 The material in this guide was written as a supplement for use with the Basic Statistics e-learning curriculum

More information

Chapter 3. Table of Contents. Introduction. Empirical Methods for Demand Analysis

Chapter 3. Table of Contents. Introduction. Empirical Methods for Demand Analysis Chapter 3 Empirical Methods for Demand Analysis Table of Contents 3.1 Elasticity 3.2 Regression Analysis 3.3 Properties & Significance of Coefficients 3.4 Regression Specification 3.5 Forecasting 3-2 Introduction

More information

EXAMINATIONS OF THE ROYAL STATISTICAL SOCIETY (formerly the Examinations of the Institute of Statisticians) ORDINARY CERTIFICATE IN STATISTICS, 2003

EXAMINATIONS OF THE ROYAL STATISTICAL SOCIETY (formerly the Examinations of the Institute of Statisticians) ORDINARY CERTIFICATE IN STATISTICS, 2003 EXAMINATIONS OF THE ROYAL STATISTICAL SOCIETY (formerly the Examinations of the Institute of Statisticians) ORDINARY CERTIFICATE IN STATISTICS, 2003 Paper II Time Allowed: Three Hours Candidates may attempt

More information

STAT/MATH Chapter3. Statistical Methods in Practice. Averages and Variation 1/27/2017. Measures of Central Tendency: Mode, Median, and Mean

STAT/MATH Chapter3. Statistical Methods in Practice. Averages and Variation 1/27/2017. Measures of Central Tendency: Mode, Median, and Mean STAT/MATH 3379 Statistical Methods in Practice Dr. Ananda Manage Associate Professor of Statistics Department of Mathematics & Statistics SHSU 1 Chapter3 Averages and Variation Copyright Cengage Learning.

More information