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Descriptive Statistics

Descriptive Statistics and Probability Exercises

A survey conducted by the Northwestern University Lindquist-Endicot Report asked 320 companies about the procedures they use in hiring. Only 54 %% of the responding companies review the applicant's college transcript as part of the hiring process, and only 44% consider faculty references. Assume that these percentages are true

Moving Data on an Excel Sheet

Need Excel tutorial for this one more than help with the calculations (see attachment). 2 data sets of random numbers of 10000 entries each are generated using the random number generator in the excel data analysis pack. Lets say these data are normally distributed and have different means and they are on two different work

Class Boundaries of Datasets

A data set that consist of 50 numbers has a minimum value of 16 and a maximum value of 74. determine the class boundaries using 2k>N rule if the data are a) discrete b) continuous Answer: a) 16-25, 26-35, 36-45, 46-55, 56-65, 66-75 b) 16 to under 26, 26 to under 36, 36 to under 46, 46 to under 56, 56 to under 66, 66 to u

Calculations Around the Break-Even Point

A firm producing poultry feed finds that the total cost C in dollars for producing and selling x units is given by C = 18 x + 150. Management plans to charge $22.50 per unit for the feed. 1. What is the break-even cost? 2. What is the profit for 75 units of feed sold? 3. How many units must be sold to produce a profit of

PERT/CPM Crash Cost and Time

The normal cost and crash cost for each activity is $12,000 and $7,000 respectively. The normal time to complete this activity is 8 days and crash time is 4 days. If this activity is crashed by 2 days and completed in 6 days, it will cost an additional _______________ . $1,000 $1,250 $2,000 $2,500

Working with Statistical Terms

Statistics Questions 1. Determine if this is an example of probability or statistics: More than half of all men surveyed preferred to watch college football over college basketball. 2. Determine if this data is qualitative or quantitative: Gender 3. Determine if this study is experimental or observational: Tests were c

Presenting Descriptive Statistics

Which statistics describing the homes in Florida do you think would be most useful in giving potential clients a feel for the market? Use the Florida Pool Home Data file (attached Excel document) to prepare a sample one-page handout that you might give to prospective buyers to describe the housing market in your area. Include an

Mean and Standard Distribution

1. Calculate the mean, median, and mode for the data set below. Is the distribution normal or skewed? Which measure of central tendency is most appropriate for this distribution? Why? 64 80 64 70 76 79 67 72 65 73 68 65 67 65 70 62 67 68 65 64 2. Calculate the range and standard deviation for the following five distribut

Finding the Critical Path in a Problem

According to the data in the table, what is the critical path? Activity | Immediate Predecessor | Optimistic Time | Most Likely Time | Pessimistic Time A - 2 8 14 B -

Preparation of flexible budget for Logiclik.

Logiclik sells its main product, ergonomic mouse pads, for $11 each. Its variable cost is $5 per pad. For volumes up to 60,000 pads, fixed expenses are $200,000 per month. Above 60,000 pads, monthly fixed expenses are $250,000. Prepare a monthly flexible budget for the product, showing sales, variable expenses, fixed expenses,

Shipping Costs from Each of Two Regional Warehouses

The following table provides shipping costs from each of two regional warehouses to each of three destinations. The supplies available and the demands are also given in the table. FROM TO Houston New Orleans Atlanta Supply

Indicating Scores on the First Exam for a Class

Assume that the following list indicates all the scores on the first exam for a class. Use this information: scores: (62, 88, 96, 75, 82,84). 1st calculate all 3 measures of central tendency and label each with appropriate symbol when necessary. 2nd calculate the 5number summary for the data and label each value 3rd what i

Increase in Crime: Median Number of Crimes

The median number of crimes of a particular type in Sydney is 10 per week. However, in the first 26 weeks of 2012, there have already been 12 weeks in which more than 10 crimes of this type have been committed. Should the Leader of the Opposition demand the resignation of the Minister for Police because of an increase in this ty

Mathematical model for determining total costs

Create a mathematical model for determining the total costs involved in driving from Atlanta to New York City. Be sure to think critically about all possible costs included in the trip and include them in your model. Assume that you have $2,000 available before the trip, so solve your model to show the funds remaining after the

Finding Mean, Variance, Standard Deviation and Shape

If many samples of size 15 (that is, each sample consists of 15 items) were taken from a large normal population with a mean of 18 and variance of 5, what would be the mean, variance, standard deviation and shape of the distribution of sample means? Give reasons for your answers. Note: Variance is the square of the standard dev

Basic Statistics

1. To get the best deal on a CD player, Tom called eight appliance stores and asked the cost of a specific model. The prices he was quoted are listed below: $ 298 $ 125 $ 511 $ 157 $ 231 $ 230 $ 304 $ 372 Find the Standard deviation 2. When investigating times required for drive-through service, the following results (in s

Finding descriptive sample statistics

I have a question about a statistic problem regarding the dataset provided. It is based on a sample of 252 men, all of whom have had their body fat and weight recorded. Also a doctor's office claims that the mean body fat in men is 20%. I have the mean, media and mode but I am not sure how to find the range and standard deviatio

Developing a Transportation Model

Liquid Gold, Inc. transports radioactive waste from nuclear power plants to disposal sites around and about the country. Each plant has an amount of material that must be moved each period. Each site has a limited capacity per period. The cost of transporting between sites is given here (see attached). Develop and solve a tr

Understanding the elements of a study

Please help me understand the concepts outlined below. I have to: - Construct a scale using the skills you have learned (What is meant by 'construct a scale' and what does a scale look like?) - Identify a construct (What are constructs and how in depth you you identify one?) - Operationally define your construct

Descriptive statistics

If you were given a large data set such as the sales over the last year of our top 1,000 customers, what might you be able to do with this data? What might be the benefits of describing the data?

Decision Analysis: Payoff Table

A manufacturer produces and sells chilled, ready-to-eat pasta salad in round lots of 50 serving units each. These items have a very limited shelf life; therefore, if items are made but not sold, they have no value. Conversely, if demand exceeds supply during the week (regular production runs are made on Friday of each week for s

Case Problem Alumni Giving

Alumni donations are an important source of revenue for colleges and universities. If administators could determine the factors that influence increases in the percentage of alumni who make a donation,they might be able to implement policies that could lead to increased revenues. Research shows that students who are more satisfi

Identifying the Best Score

Suppose you earned 100 points on an exam. Under which of the following conditions did you earn the best grade? When: a. ? = 80 and ? = 10 b. ? = 80 and ? = 5 c. ? = 105 and ? = 10 d. ? = 105 and ? = 5

Measures of central tendency for Walmart: How help with inventory?

Please see attachment for Wal-Mart's data. 1.) Calculate Mean Median and Mode. 2.) Generate a frequency distribution of the data using Microsoft Excel. 3.) Compare the mode median and mean of the data. 4.) Compare the range with the standard deviation of the data. Once these first 4 items are complete, we can start

Positive or Negative Correlations

Show all your work. Look at the scatter plot below. Does it demonstrate a positive or negative correlation? Why? Is there any outliers? What are they?

Unavoidable Costs

In deciding whether to add or drop new products, services, or departments, managers should emphasize the option that makes the greatest contribution possible to pay unavoidable costs. True or False? Why?

Revenue and Cost Reimbursement

Prices are most directly related to costs in industries where revenue is based on cost reimbursement. True or False? Why?