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Quantative Analysis of Data

Basic Statistics Problems and Solutions

1. The following table gives the Value (in millions of dollars) of the 10 most Valued baseball teams as estimated by Forbes in 2007 (see attached file for table). A) Find the Mean, B) Find the Median, C) What might account for the difference between these Values? 2. The Quaker company conducted a survey to determine w

statistical analysis: standard deviation

1. A researcher is interested in estimating the noise levels in decibels at area urban hospitals. She wants to be 90% confident that her estimate is correct. If the standard deviation is 4.13, how large a sample is needed to get the desired information to be accurate within 0.68 decibels? 2. Assume that the population of heig

Computing the Expected Number of Arrivals per Minute

The number of arrivals per minute at a bank located in the central business district of a large city was recorded over a period of 200 minutes, with the following results: Arrivals..............Frequencies.........Probability 0.............................14.......................0.07 1.............................31.

Phase 3 - Managing the Springville Herald

Scenario: A print production team is charged with improving the quality of the Herald. The team has chosen the blackness of the print of the newspaper as its first project. Blackness is measured on a device that records the results on a standard scale, where the blacker the spot, the higher the blackness measure. The blackness

Analytic Hierarchy Process (AHP)

I started working on this problem using Excel , but I am not sure if i am am approaching this correctly. the problem statement is in a word document AHP some explanation would be helpful. The MIS Department is developing a computer lab to support advanced applications. The planning committee has focused on three main criteria

Four Questions: Savings Rate, Tax, Wonderlic and Compensation

Am working on practice problems for Management Stats class. Having problems with 4 of the questions. Please Help! Please see attachments for correct formats and Excel charts. --------------------- (3.31, 3.39, 3.49, 3.73) The file SavingRate contains the yields for a money market account, a one-year certificate of depo

Use of Central Tendency

Suppose you were in charge of advertising for an automotive dealership when the gas prices increased to $6 per gallon. Most of your cars are fuel-efficient, but you have two models that have extremely poor fuel economy, that is, a low number of miles per gallon. How would you use a measure of central tendency in your adverti

Proportion and Quartiles

Please see the attached file for the questions. 1. A set of data whose histogram is bell shaped yields a sample mean and standard deviation of 50 and 4, respectively. Approximately what proportion of observations are: a) Between 46 and 54? b) Between 42 and 58? c) Between 38 and 62? 2. Calculate the first, second, a

Integer Programming: Brenda Last's Course Schedule

Brenda Last, an undergraduate business major at State University is attempting to determine her course schedule for the fall semester. She is considering seven 3-credit-hour courses, which are shown in the following table. Also included are the average number of hours she expects to have to devote to each course each week (based

Statistics: Analyzing Statistics

Consider the file "advertising.xls" (attached) showing data for magazine titles, the cost of a full-color page advertisement (page), audience (subscribers), male percentage of subscribers, and household income. The objective of this project is to find out if there is any relationship among variables using regression analysis tec

Understanding Mean, Median, Mode and Range

1. Peter, a sixth-grade mathematics teacher, recently administered an exam. He wants to report a measure of central tendency but he doesn't know what to do with the fact that two students have much lower scores than anyone else. What is the best measure of central tendency for Peter to report? a. Range b. Standard deviation

Where would you use mean, median, mode and why?

Average (mean) is the most widely used measure of central tendency, but is not always the most appropriate. a. Please provide unique examples of where one would use median, mode, mean, and why. b. Please provide an unique example of where mean, median, and mode are appropriate measures in one's professional life.

Statistics: Active Military Personnel by State

See the attached file. The number of active military personnel per state is outlined in the attached document. A. Calculate the mean and standard deviation for the population. B. Take 10 samples of size 5 from the population. Use either simple random sampling or systematic sampling with the help of the table of random nu

Measures of Central Tendency and Dispersion with SPSS

I am using the IBM SPSS statistics 2.0. I have gone through the software several times. I need help with this assignment as I am struggling with the basics of this software. Apart from responding to this assignment I will appreciate step by step guide on how to generate syntax and output files in SPSS I was asked to select

Inventory Management Decision Model

Inventories represent a considerable investment for every organization; thus, it is important that they be managed well. Excess inventories can indicate poor financial and operational management. On the other hand, not having inventory when it is needed can also result in business failure. The two basic inventory decisions th

Elementary Statistics: Mean, Median and Mode

Q8: An insurance company crashed four cars of the same model at 5 miles per hour. The costs of the repairs for each of the four crashes were $411, $436, $482 and $238. Compute the mean, median and mode cost of repair. Q10: The scores and their percent of the final grade for a statistics student are given. What is the student

Statistics: Standard Deviation, Random Chance and Unusual Results

[2] Neuroblastoma, a rare form of malignant tumor, occurs in 11 children in a million, so its probability is 0.000011. Four cases of neuroblastoma occurred in Oak Park, Illinois, which had 12,429 children. a. Assuming that neuroblastoma occurs as usual, find the mean and standard deviation of cases in groups of 12,429 children

Frequency table, range, etc.

A university's associate directors for whom a statistician was consulting were interested in alumni donations, as are many schools, not only because they want the money but also because it is one of the criteria by which U.S. News & World Report ranks U.S. institutions of higher learning. U.S. News includes this criterion becaus

Using Descriptive Statistics to Understand Sample Data

Task: 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 g

Mean, Median, Mode, Range, Variance, Standard Deviation

1. Calculate the mean for samples where: a. n=10 sum of x=85 ? b. n= 16 sum of x = 400 ? c. n =45 sum of x =35 ? d. n=18 sum of x =242 ? 2. Calculate the mean, median, and mode for each of the following samples: a. 7, -2, 3, 3, 0, 4 b. 2, 3, 5, 3, 2, 3, 4, 3, 5, 1, 2, 3, 4 c. 51, 50, 47, 50, 48, 41, 59, 68, 45,

The length of the first 10 words of 2 books are listed below.

The length of the first 10 words of 2 books are listed below. Find the range, variance, and standard deviation for each of the two samples, then compare the two sets of results. Does there appear to be a difference in variation? Book 1 4 6 2 3 5 6 4 3 4 2 Book 2 12 6 11 10 9 8 10 10 4 10 Find the range for Book 1 Range =

Statistics and Quantitative Analysis

1. Given the following revenue and cost function for a business firm, calculate the break-even quantity, total revenue, total cost and total profit at break-even level of production. revenue function R = F(Q) = 4q total cost C = F(Q) = 12 + 2q 2. Given the following r

Distributions and Central Tendency

1. True or false? The median is the only measure of central tendency that can be used to describe data at the nominal level of measurement. 2. True or false? If a vertical line is drawn through the middle of a distribution and both halves are approximately mirror images, the distribution may still be classified as symmetric.

Infant Mortality Rates and Socioeconomics

I need help determining infant mortality rates in the U.S. I have to gather data about infant mortality rates in various countries and identify the ten that have the lowest infant mortality rates I also, have to find the infant mortality rate in the U.S. and find where the U.S. ranks internationally. Third, I need to find t

What is the decision on demand based on each of the given criteria?

Adele Weiss manages the campus flower shop. Flowers must be ordered three days in advance from her supplier in Mexico. Advance sales are so small that Weiss has no way to estimate the demand for the red roses. She buys roses for $15 per dozen and sells them for $40 per dozen. The pay-off table for the problem is given below.

In a poll, respondents were asked whether they had ever been in a car accident

Solve the following problems showing your work: 1. In a poll, respondents were asked whether they had ever been in a car accident. 157 respondents indicated that they had been in a car accident and 117 respondents said that they had not been in a car accident. If one of these respondents is randomly selected, what is the prob

Estimation analysis

I need help identifying variables and conducting t-tests and chi-squared tests and how to use Excel to calculate the data. Identify three continuous and three discrete variables and describe their distribution numerically (e.g., central tendency, spread) as well as graphically. Compare the results. Using the variables select

Statistics in the News

Find an example of statistics in the news to discuss the following statement that represents one of the objectives of statistics analysis: "Statistics helps us make decisions based on data analysis." Briefly discuss how the news item or article meets this objective. Cite your references.