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Descriptive Statistics

PERT Diagram for a Transmission Company

The Midwest Gas Transmission Company must build a pump station on one of its major pipelines. The activities involved in completing this project are given in the following table. Activity Description Precedence A Carry out project administration none B Hire pipeline construction personnel A C Purchase pump station equipment

Effect of change on mean and median

Please help with the following problems. Provide a detailed explanation for each question. a. The firm in question 4 gives no raises to the clerks and junior accountants, while the owner's take increases to $455,000. How does this change affect the mean? How does it affect the median? b. A discussion of extreme weather re

Qualitative and Quantitative variables

A. Which of the 12 variables listed below are qualitative and which are quantitative? b. Determine the level of measurement for each variable. Give reasons for your categorization. Explanation of the coding is: Column Description A Annual wage in dollars B Industry 1=manufacturing 2=construction 0=other C Occupa

Normal Distribution

How do you determine how the data is normaly distributed? How do you determine the standard deviation from the mean? What are the steps to determine the tons of coffee that a population will export? 1. Use the features of the Normal Distribution to answer the following questions about coffee: Below is a copy of an Ex

Trade Credit Rates and Annual Rates of Interest

Company X sells on a 1/20, net 60, basis. Customer Y buys goods with an invoice of $1,000. a. How much can company Y deduct from the bill if it pays on day 20? b. How many extra days of credit can company Y receive if it passes up the cash discount? c. What is the effective annual rate of interest if Y pays on the due d

Changes: Sources and Uses of Cash

State how each of the following events would affect the firm's balance sheet. State whether each change is a source or use of cash. a. An automobile manufacturer increases production in response to a forecast increase in demand. Unfortunately, the demand does not increase. b. Competition forces the firm to give customers

Control Limits for Computer Chips

The smallest defect in a computer chip will render the entire chip worthless. Therefore, tight quality control measures must be established to monitor the chips. In the past, the percentage defective for these chips has been 1.1%. The sample size is 1,000. Determine the upper and lower control chart limits for these computer

Responses to Statistic Surveys

1. To what extent do the respondents agree with the statement "I attach great importance to credit cards? (1m)" (Give the percentage value of respondents that "strongly agree" and "agree" with the statement). 2. What is the main reason that most respondents didn't respond to any offer? Please show the frequency table and hist

Promoting the Keem Dishwashing Soap

The advertising agency promoting the new Keem dishwashing soap wants to get the best exposure possible for the product within the $100,000 advertising budget ceiling placed upon it. To do so, the agency needs to decide how much of the buget to spend on each of its two most effective media;(1) television spots during the afternoo

Solving a Production Mix using Excel

The Anderson Tub Company manufactures two line of bathtubs, called the model A and B. Every tub requires a certain amount of steel and zinc, the company has available a total of 25,000 pounds of steel and 6,000 pounds of zinc. Each model A bathtub requires a total of 125 pounds of steel and 209 pounds of zinc, and each yields

Identify as: ordinal, ratio, nominal, or interval data

Determine if whether the data represented should be classified as ordinal, ratio, nominal, or interval: (1) Numbers on NASCAR cars (2) Class ranking (3) Physical height (4) Social security numbers (5) Fahrenheit temperature (6) Age in months (7) Dress sizes (8) Sea l

Descriptive Statistics and Probability Distributions

Creek Ratz is a very popular restaurant located along the coast of northern Florida. They serve a variety of steak and seafood dinners. During the summer beach season, they do not take reservations or accept "call ahead" seating. Management of the restaurant is concerned with the time a patron must wait before being seated for d

Mean, Median and Standard Deviation and Interpreting Data

Refer to the CIA data, which reports demographic and economic information on 46 countries. a. Select the variable Life Expectancy 1. Find the mean, median and the standard deviation 2. Writer a brief summary of the distribution of life expectancy. Life Expectancy Luxenbourgh - 77.3 Mexico 71.76 Netherlands 78.43 New Z

Seasonal Indexes: Multiplicative Model

The monthly sales volume (in thousands of dollars) for a manufacturer of snow skis is seasonal (there tend to be more skis sold during fall and winter months than during warmer months). The following table shows the monthly seasonal indexes for the company's sales: JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1.17 1.0

Histograms, Mean, Median and Mode

1) Over the past several months, customers at Stymie's department store have been asked to fill out customer satisfaction surveys. In the surveys, the customers rate their shopping experience on a scale of 0 to 100. Here are 25 recent ratings: 13, 16, 16, 21, 24, 33, 34, 37, 41, 45, 45, 49, 51, 56, 56, 56, 58, 61, 66, 70, 76,

Descriptive Statistics Data Analysis

2. Descriptive Statistics Paper Adding to your Week 3 paper, prepare and submit a 1,050-1,750-word paper examining the data you have collected, and drawing conclusions based on your findings. In your paper, be sure to include the following: a. Data analysis using descriptive statistics 1) Calculate the measures of central

Descriptive Statistics of Central Tendency

2. Descriptive Statistics Paper Adding to your Week 3 paper, prepare and submit a 1,050-1,750-word paper examining the data you have collected, and drawing conclusions based on your findings. In your paper, be sure to include the following: a. Data analysis using descriptive statistics 1) Calculate the measures of central ten

Important information about Statistics in Psychology

1. A sample of 10 high school students completed a course designed to increase SAT verbal scores. The following is the summary for this group's SAT verbal scores after completion of the course: Σx= 5846, Σx2 =3428148. a. What is the mean and standard deviation for this groups' SAT verbal score? b. What scores mark the

Average Cost

In a slow year, Deutsche Burgers will produce 2 million hamburgers at a total cost of $3.5 million. In a good year, it can produce 4 million hamburgers at a total cost of 4.5 million. a. What is the average cost per burger when the firm produces 1 million hamburgers? b. What is average cost when the firm produces 2 mill

Economic Order Quantity

Southeastern Bell stocks a certain switch box at its central warehouse for supplying field service offices. The yearly demand for these connectors is 15,000 units. Southeastern estimates its annual holding costs for this item to be $25 per unit. The cost to place and process an order from the supplier is $75. The company operate

EOQ model: what value of ordering cost is optimal?

Henry Crouch's law office has traditionally ordered ink refills at 60 units a time. The firm estimates that carrying cost is 40% of the $10 unit cost, and that annual demand is about 240 units per year. The assumptions of the basic EOQ model are thought to apply. For what value of ordering cost would its action be optimal?

Find dependent and independent variables

Variables and Level of Measurement: Identify the dependent and independent variables used in this paper, and their level of measurement (attribute or numeric). Week 2 paper will only have a Dependent Variable. Length: One sentence per variable. I have attached the data to answer the question

Recommended Method of Financing: Example Problem

Due to large losses incurred in the past several years, a firm has $2 billion in tax-loss carryforwards. This means that the next $2 billion of the firm's income will be free from corporate income taxes. Security analysts estimate that it will take many years for the firm to generate $2 billion in earnings. The firm has a modera

Compute the coefficient of variation

For a sample of students in the college of business administration at mid-atlantic university, the mean grade point average is 3.10 with a standard deviation of 0.25. Compute the coefficient of variation.

Compute range, standard deviation, and variance.

For this exercises compute the range, the standard deviation and the variance. refer to the following frequency distribution. class frequency 20 up to 30 7 30 up to 40 12 40 up to 50 21 50 up to 60 18 60 up to 70 12

Compute range, standard deviation, and variance

For this exercise compute the range, the standard deviation and the variance. refer to the following frequency distribution. class frequency 0 up to 5 2 5 up to 10 7 10up to 15 12 15up to 20 6 20up to 25 3

Nominal and Ordinal Data

Survey Paper Using the business problem selected ( business, economic or marketing)develop a problem statement which can be addressed with survey research. Prepare a 10-13-question survey to collect primary data regarding your selected problem statement. . Your survey questions should include a mixture of categorical (nomina

Five Step Hypothesis Test for Statistics

Perform a five-step hypothesis test on data below: Below is the descriptive Stats I used to get the mean I used in the numerical hypothesis Descriptive statistics Through 13 years of education Wage count 67 mean 25,386.07 sample variance 132,209,364.95 sample standard deviation 11,498.23 minimum 9879

Statistical Information in a Professional Setting

Discuss the types of statistical information collected in your professional setting. Provide examples to illustrate the information/data. - The advantages of accurate interpretation of statistical information - How this information is used to improve decision making in your organization