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Descriptive Statistics

Shear's Insurance Agents

The insurance department at Shear's has two agents, each working at a mean speed of 8 customers per hour. Customers arrive at the insurance desk at a mean rate of one every six minutes and form a single queue. Management feels that some customers are going to find the wait at the desk too long and take their business to Word's,

Indicators of societal well-being

There is constant discussion by companies and various philanthropic groups surrounding actions that are made for the "well-being" of society. What are two types of data you might use to measure this concept of the "well-being" of society?

Calculating descriptive statistics

The following sample was obtained from a population with unknown parameters: Scores 1,5,1,1 a) Compute the sample mean and standard deviation b) Compute the standard error of the mean

Fundamentals of Statistics: AIU Job Satisfaction Data Set

See attached data set file. The data set for our course is a sample of a survey conducted on the population of the American Intellectual Union (AIU). It is available via the following link: DataSet with DataSet Key which contains the following nine sections of data that will be used throughout our course: (1) Gender (2) Ag

Statistical Analysis of Job Satisfaction Survey Data and Interpetation of Results

The data set for our course is a sample of a survey conducted on the population of the American Intellectual Union (AIU). It is available via the following link: DataSet with DataSet Key which contains the following nine sections of data that will be used throughout our course: (1) Gender (2) Age (3) Department (4) Position

Statistical Data Analysis using Excel

See attached file. Assume you are researching about housing in a neighborhood encompassed by 5 townships in the attached Real Estate Data Set (Excel). Evaluate if the distance from center of town the homes are located creates a positive, negative or neutral change in the price of the home. Data analysis using descriptive

Mean calculation for 50 executives laid off from previous positions

A recent survey of 50 executives who were laid off from their previous position revealed it took a mean of 26 weeks for them to find another position. The standard deviation of the sample was 6.2 weeks. Construct a 95 percent confidence interval for the population mean. Is it reasonable that the population mean is 28 weeks?

Various Calculations Given Time Series of IBM Stock Prices

1. Download time series of daily and monthly prices for IBM for 1963-2009. 2. Compute the sample mean, median, variance, skewness, kurtosis, min, and max for continuously compounded, i) daily and ii) monthly returns. Compare the same for simple returns. a. Are there any differences in skewness of daily and monthly returns?

General Aviation: plot data, discuss pattern, fitted trend, forecast

Instruction: ? a) Plot the data ? b) Discuss the pattern and possible causes ? c) Would a fitted trend be helpful? ? d) Does 1992-2003 graph suggest fitted trend can predict 2004? ? e) Fit a trend model to 1992-2004 data ? f) Make a forecast for 2004 ? g) Why is it best to ignore earlier data? The t

Decision analysis: Maximax and Maximin

The owner of the Burger Doodle Resturant is considering two ways to expand operation: open a drive-up window or serve breakfast. Th increase in profits reulting from theise proposed expansions depend on weather a competitor opens franchise down the street. The possible profits form each expansioin in operations, give both fu

Statistics - Basic Analysis - SPSS

The first part of this Application is your analysis using SPSS. To conduct your quantitative analysis, use your course text, (a) Selecting appropriate variables based on type (nominal, ordinal, or scale), calculate descriptive statistics. At the very least, calculate a mean, median, and standard deviation. Be sure to save

X-bar and R-bar Charts for a Manufacturing Process

A new machine has just been installed to cut and rough-shape large slugs. The slugs are then transferred to a precision grinder. One of the critical measurements is the outside diameter. The quality control inspector randomly selected five slugs each hour, measured the outside diameter, and recorded dthe results. The measurement

Using Descriptive Statistics in the Work Place

Can you give me a brief example of how I can routinely use descriptive statistics in the work place. Include a description of work, the way in which I could calculate the statistics and how the statistics are used in a work.

Descriptive Statistics

A new machine has just been installed to cut and rough-shape large slugs. The slugs are then transferred to a precision grinder. One of the critical measurements is the outside diameter. The quality control inspector randomly selected five slugs each hour, measured the outside diameter, and recorded the results. The measurements

Level of measurement and validity

What is an example of data that can be transformed from one level of measurement to another, and another example of data that cannot be transformed? And why is validity for measurement so difficult to establish?

Descriptive Statistics Frequency Distribution and Histogram

In a study of job satisfaction, a series of tests were administered to 50 participants. The following data were obtained; higher scores represent greater dissatisfaction: Use the data of this question to calculate the following: 1. Frequency dist. 2. Relative frequency dist. 3. Cumulative frequency dist. 4. Histogram

Analysis of Variance and SS Between

An analysis of variance produces SSwithin = 40 and SStotal = 70. In this analysis, what is the value of SSbetwen? A. 30 B. cannot be determined without additional information C. 40 D. 110

Descriptive Statistics & Hypothesis Testing: Lunch Break

See attached file. The Bureau of Finance has always has always been a relaxed place to work. Employees are allowed a 60 minute lunch break and not required to punch in and out. Recently, the head of the Bureau has come to suspect employees are taking advantage by taking more than 60 minutes. He decides to check and collects t

Descriptive Statistics for Dry Cleanings

The number of dry cleaning orders picked up at Sunny Fresh Dry Cleaners was sampled over 4 hour periods. Below is the sample: 61 58 67 52 25 64 38 49 51 61 58 61 27 61 58 34 From this data set, compute the sample mean, median, mode and midrange. Compute the 1st quartile and 3rd and

Develop and Define a Model for the Total Amount of Money

Develop a model that will determine the total amount of money you will have in the account at: The end of first year; If you deposit $5000 in a saving account that pays 3% annual interest. (Also, define all of the model components).

Simplex Procedure

See the attached file. The Dreskin Development Company is building two apartment complexes. It must decide how many units to construct in each complex subject to labor and material constraints. The profit generated for each apartment in the first complex is estimated at $900, for each apartment in the second complex, $1,500.