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Descriptive Statistics

University Seminar Price Problem

Administrators at a university are planning to offer a summer seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break e

Trendline

Please see the attached file. You already have the trendline and you need to predict the sales for 2006. Show your work in an Excel spreadsheet.Please show all work in the excel spreadsheet attached.Also please show the trendline.

Sample Means and Standard Deviation

Suppose the population mean is 50.6 pounds with a population standard deviation of 1.62 pounds. Suppose we take thousands of samples with a sample size of 5. What will the mean of these sample means be? What will the standard deviation of the sample means be?

During the "Spring Fling", the bumper car amusement attraction has a problem of cars becoming disabled and in need of repair. Repair personnel can be hired at the rate of $20 per hour, but they only work as one team. Thus, if one person is hired, s/he works alone whereas two or three people would work together on the same broken car.

During the "Spring Fling", the bumper car amusement attraction has a problem of cars becoming disabled and in need of repair. Repair personnel can be hired at the rate of $20 per hour, but they only work as one team. Thus, if one person is hired, s/he works alone whereas two or three people would work together on the same broken

Optimal Order Quantity for Inventory

A store (open 24 hours a day, every day) sells 8-roll packs of paper towels, at the rate of approximately 420 packs per week. Because the towels are so bulky, the annual cost to carry them in inventory is estimated at $.50 per 8-roll pack. The cost to place an order is $20. It takes four days for an order to arrive. Currently, S

Optimal Order Quanity/ ROP

A company distributes a printed guide for the approximate 22,000 visitors it has each year. Holding costs for the brochures are 10% of purchase cost - and it costs $30 to place an order with the printer (unless you order the largest discount category in which case the order cost drops to $25). . The printer has a discounted p

The Executive Camera Company

The Executive Camera Company provides full expenses for its sales force. When attempting to budget automobile expenses for its employees, the financial department uses mileage figures to estimate gas, tire, and repair expenses. Distances driven average 5,650 miles a month, and have a standard deviation of 120. The financial depa

Hand Lengths of Women in the US Air Force

Women in the U.S. Air Force have hands that are 6.9 inches on the average (from the tip of the middle finger to the heel of the hand). The standard deviation is 0.34 inches. Assume that hand length is normally distributed. (10 points) a. What proportion has hands longer than 7 inches? b. What proportion would have hands sh

Statistics: Confidence Interval for Tootsie Rolls

A random sample of 10 miniature Tootsie Rolls was taken from a bag. Each piece was weighed on a very accurate scale. The results in grams were: 3.087 3.131 3.241 3.241 3.270 3.353 3.400 3.411 3.437 3.477 (a) Construct a 90 percent confidence interval for the true mean weight. (b) What sample size would be necessary to esti

Stocking a Large Sporting Goods Store: Model Formulation

A large sporting goods store is placing an order for bicycles with its supplier. Four models can be ordered: the adult Open Trail, the adult Cityscape, the girl's Sea Sprite, and the boy's Trail Blazer. It is assumed that every bike ordered will be sold, and their profits, respectively, are 30, 25, 22, and 20. The LP model shoul

The management of White Industries is considering a new method of assembling its golf cart. The present method requires 42.3 minutes, on the average, to assemble a cart. The mean assembly time for a random sample of 24 carts, using the new method, was 40.6 minutes, and the standard deviation of the sample was 2.7 minutes. Using the .10 level of significance, can we conclude that the assembly time using the new method is faster?

The management of White Industries is considering a new method of assembling its golf cart. The present method requires 42.3 minutes, on the average, to assemble a cart. The mean assembly time for a random sample of 24 carts, using the new method, was 40.6 minutes, and the standard deviation of the sample was 2.7 minutes. Using

T distribution and confidence intervals - The American Sugar Producers Association wants to estimate the mean yearly sugar consumption. A sample of 16 people reveals the mean yearly consumption to be 60 pounds with a standard deviation of 20 pounds.

The American Sugar Producers Association wants to estimate the mean yearly sugar consumption. A sample of 16 people reveals the mean yearly consumption to be 60 pounds with a standard deviation of 20 pounds. a. What is the value of the population mean? What is the best estimate of this value? b. Explain why we need to use the

Mean, Median and Coefficient of Skewness

Listed on the MEGASTAT attachment is the average daily circulation for the 50 U. S. newspapers with the largest circulation. Please show all work/outputs. a. Find the mean, median, Q1, and Q3. b. Find the 15th and the 90th percentiles. c. Find the coefficient of skewness and interpret the result. d. Develop a box plot a

Cost of Serving Peanut Butter

The cost of one serving of peanut butter (in cents) for a random sample of 19 jars of peanut butter was found to be: 22 27 32 26 26 19 16 26 14 21 20 21 20 17 12 32 17 9 16 a) Give the five-number summary (low, Q1, median, Q3, high) b) Calculate the IQR.

Specificity and Predictive Value

Please see the attachment. 12. Table 1. Results of a screening test for diabetes, using a cutoff point of 160 mg.dl. True Diagnosis Test result Diabetic Not Diabetic Total Positive 34 20 54 Negative 116 9,830 9,946 Total 150 9,850 10,000 The specificity of the screening test for diabetes is a. 0.3% b.

Describes at least 3 different statistical usages in daily life

Considering all of the day to day activities you are engaged in at work and in your personal lives, write a 200 (or more) word paper that describes at least three (3) different statistical usages that you see regularly. For each, describe how the statistics enhance the understanding of an issue or problem for the reader. Finally

Level of measurement, sample and population

2. What is the level of measurement for these items related to the newspaper business? (page 14) a. The number of papers sold each Sunday during 2004. b. The departments, such as editorial, advertising, sports, etc. c. A summary of the number of papers sold by county. d. The number of years with the paper for each employee

Cal and Becky have known each other since high school

Cal and Becky have known each other since high school. Two years ago, they entered the same university, and today they are taking undergraduate courses in the business school. Both hope to graduate with degrees in finance. In an attempt to make extra money and to use some of the knowledge gained from their business courses, C

Basic Descriptive Statistics .

2. A math test was given with the following results: 80, 69, 92, 75, 88, 37, 98, 92, 90, 81, 32, 50, 59, 66, 67, 66 Find the range, standard deviation, and variance for the scores. 3. For a particular sample of 50 scores on a psychology exam, the following results were obtained. Mean = 78 Midrange = 72 Third quartile = 94

The Probability of an Average Diameter of Sand Dollars

The average diameter of sand dollars on a certain island is 3.00 centimeters with a standard deviation of 0.70 centimeters. If 9 sand dollars are chosen at random for a collection, find the probability that the average diameter of those sand dollars is more than 2.790 centimeters. Assume that the variable is normally distribute

Probability of Mosquitoes Per Square Meter

The average number of mosquitoes in a stagnant pond is 80 per square meter with a standard deviation of 8. If 16 square meters are chosen at random for a mosquito count, find the probability that the average of those counts is more than 81.6 mosquitoes per square meter. Assume that the variable is normally distributed.

Seasonal Component in Businesses

For each of the following, indicate whether or not you would expect it to have a strong seasonal component and why. a. Sales of colorful wrapping paper, recorded monthly b. The number of air travelers to Hawaii from Chicago, recorded monthly c. The S&P 500 stock market index, recorded daily. Assume that the stock market is ef

Barbara Flynn is in charge of maintaining hospital supplies at General Hospital.

Please provide an answer to the problem below and make sure to show all the work as to how the answer was derived. ------------------------------------------------------------------------ Barbara Flynn is in charge of maintaining hospital supplies at General Hospital. During the past year, the mean lead time demand for b