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Descriptive Statistics

Applying the Box Method and Fundamental Counting Principle

Five college engineering students are choosing specialized fields of engineering to study. Each student is allowed to select one field. The available fields are Electrical Engineering (EE), Mechanical Engineering (ME), and Computer Engineering (CE). If the second student does not meet the requirements for ME and the third st

Statistical Analysis

You run a small Internet business and are concerned about customer support service levels on the Help Desk. You want to know how many calls per day are handled by your help desk staff. You collect the data at left over a 90-day period. Use appropriate descriptive statistics to make sense of this data. Use an appropriate grap

Significance of a random sample size

If a random sample of 10 people found that 9 were pro-life (that is, 90 percent), while another random sample of 1,000 people from the same population found that 550 were pro-life (that is, 55 percent), which would you find more significant? Why?

Descriptive Statistics: Tea-Bag-Filling Process

A quality characteristic of interest for a tea-bag-filling process is the weight of the tea in the individual bags. If the bags are under filled, two problems arise. First, customers may not be able to brew the tea to be as strong as they wish. Second, the company may be in violation of the truth-in-labeling laws. In this ex

Quantitative Reasoning Example Problem

1. When using linear regression analysis what are we attempting to measure? Explain how this measurement can help in a business decision. 2. Go to the following website and participate in the interactive problems on Histograms and then post feedback. http://www.cals.ncsu.edu/gn/ex/samphist.html

Descriptive Statistics

1. US housing prices reached their peak in July of 2006. The following data shows the ratio of the prices reported in a recent month to the July 2006 figure. These are to be used to represent typical amounts of decline from that peak for 20 cities. Phoenix Los Angeles San Diego Denver Washington Miami Tampa Atlanta

Maximum Life of a Tire to Qualify for a Replace

A tire company is considering a tire replacement program.They have agreed to replace any tire that fails with a life in the bottom 10% of the population. For a given population of tires, the life is normally distributed with a mean of 27 months and a standard deviation of 3.8 months. What will be the maximum life of a tire to

Statistics: Test for weight of package of cereal

A study was conducted on the weight of cereal in ounces placed in the package. The mean was found to be 12.05 ounces with a standard deviation on 0.17 ounces. Assuming the weight of cereal is normally distributed, determine the likelihood that a package will contain more than 12.2 ounces? Round your final answer to four

Queuing theory: customer wait times

The average time T a customer waits to get his food cooked is related to the average number of orders N by the relation T = 1 + N^2. What is the maximal order arrival rate lamda* that the cook can sustain?

Stats: Standard error of estimate

Which of the following is true about the standard error of estimate? Choose the right answer: a. It is a measure of the accuracy of the prediction b. It is based on squared vertical deviations between Y and Y` c. It cannot be negative

Multiple Regression Analysis & Scatter Plots in Excel - Traffic Fatalities

A group of legislators wanted to look at factors that affect the number of traffic fatalities. They collected some data for 1994 from the National Transportation Safety Board on the number of fatalities for 50 states and the District of Columbia (DC), the number of licensed drivers, the number of registered vehicles, and the num

Pate's Pharmacy level of lighting in the greeting card department

Pete's Pharmacy Inc operates a regional chain of 120 pharmacies. Each pharmacy's floor floor plan includes a greeting card department which is relatively isolated. Sandra Royo, Marketing Manager, feels that the level of lighting in the greeting card department may affect sales in that department. She chooses four levels of light

Break-Even Analysis

The College of Business at Tech is planning to begin an online MBA program. The initial start-up cost for computing equipment, facilities, course development is $350,000. The college plans to charge tuition of $18,000 per student per year. However, the university administration will charge the college $12,000 per student for the

Statistics: Types of Data and Frequency Distribution

The following shopping time (in minutes) was recorded for 17 customers who visited a local clothing store. Shopping Time (minutes): 26, 23, 44, 41, 38, 35, 31, 28, 25, 22, 43, 31, 31, 27, 27, 27, 24 Answer the following Questions: A) Is this a raw data or classified data? ____________________ B) Is this a categ

Huntington National Bank: Confidence levels for use ATM machines

Huntington National Bank, like most other large banks, found that using automatic teller machines (ATMs) reduces the cost of routine bank transactions. Huntington installed an ATM in the corporate offices of Fun Toy Company. The ATM is for the exclusive use of Fun's 1,000 employees. After several months of operation, a sample of

Deseasonalization of Demand

See attached file. The attached table shows the sales for a plastics manufacturer recorded over the past year. The seasonal indexes for each quarter are also provided. To track the trend for these four quarters, use the indexes to deseasonalize the sales data: What is the deseasonalized sales value for quarter 1? Ch

Light bulbs: samples size

A quality engineer in a light bulb manufacturing factory is planning a study to estimate the average life of a large shipment of light bulbs. The engineer wants to estimate the average life within plus or minus 15 hours with 95 percent confidence. Assuming a process standard deviation of 100 hours, determine the sample size

Regression Analysis

Based on the regression analysis performed: 1/ From the scatter plot of calls offered and t variable which is true. a. an increase in t variable leads to an increase in calls offered. d. there is a strong linear relationship between the two variables 2/ Calculate the correlation coefficient between calls offered and time v


Young Professional magazine was developed for a target audience of recent college graduates who are in their first 10 years in a business career. In its two years of publication the magazine has been fairly successful. Now the publisher is interested in expanding the magazines advertising base. Potential advertisers continually

Identify types of errors in procedures, and how to deal

See attached file with the following questions at the end. 1. For each team, identify all of the types of error that were likely introduced by the data collection process. Discuss why you believe particular procedures produced each type of error you identify. 2. What could have been done to prevent/minimize each type of er

Making the Part of Accepting the Offer to Buy

Bunny Company produces a part that is used in the manufacture of one of its products. The costs associated with the production of 11,000 units of this part are as follows: Direct materials $25,000 Direct labor 34,000 Variable factory overhead

Descriptive and Probability Distribution: Insurance premiums

Provided an example of a research problem at any organization that would benefit from the use of either descriptive statistics or probability distribution statistics. How do insurance companies use descriptive statistics and probability distributions to project health and auto insurance premiums? In regards to age, why is there

Northeast Florida's crushed lime rock shipping requirements

Please show the solution using POM-QM software for Windows. Roads for your construction company currently have three construction jobs in Northeast Florida requiring crushed lime rock. Three pits are available to service the company's needs. The sources, destination, tonnage available and cost per tone of shipment are given

Market share by percentage growth rate

You are operating a business in a very competitive market. You are not yet the dominant player, but you have invested heavily in marketing and product development and it has paid off with a steady growth rate of 10%. You anticipate that this will continue into the foreseeable future and you are determined to improve your positio

Contingency Table for Two Rates and Two Categories

Let us consider the following data for two raters X and Y, two categories A and B and object 1 through 16 (n=16): (see attached file for data) (a) Construct the 2x2 contingency table for the two raters and two categories. (b) Find the point estimate of the agreement between the two raters. (c) Construct the 95% confide