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# Quantative Analysis of Data

### About two-thirds of US households purchase ground coffee: What is the cost?

See attached file. In recent years, about two-thirds of US house holds purchased ground coffee. Consider the annual ground coffee expenditures for households purchasing ground coffee. Assuming that these expenditures are approximately distributed as a normal random variable with a mean of \$65.16 and a standard deviation of \$

### Measures of central tendency and measures of variability

American Intellectual Union (AIU) has assembled a team of researchers in the United States and around the world to study job satisfaction. Congratulations, you have been selected to participate in this massive global undertaking. The study will require that you examine data, analyze the results, and share the results with groups

### Quantitative Analysis for a Four Factor Evaluation Process

21. In a four-factor analysis used in a multifactor evaluation process, it is desired to have the F1 importance weight four times as much as the F2 importance weight. The F2 importance weight should be four times as much as the F3 importance weight. The F3 importance weight should be four times as much as the F4 importance weigh

### Finding Central Tendency and Measure of Dispersion

See attached files for data. Which measure of cental tendency most accurately depicts the inventory data? Which measure of dispersion most accurately depicts the inventory data?

### Classify as nominal, ordinal, interval, or ratio level of measurement

A) Classify the following as an example of nominal, ordinal, interval, or ratio level of measurement, and state why it represents this level: rankings of the top ten best-selling authors B) Determine if this data is qualitative or quantitative: Five violent crimes per week

### Quantitive business: Frequency distribution, normal distribution, mean, median, mode

What is the purpose of developing a frequency distribution? What is the relationship between the relative frequency and the cumulative frequency? Could a frequency distribution contain qualitative data? Why? Describe the properties of a normal distribution. Why are there infinite possible normal distributions? Why should

### Simple random sample of weights of women

7-9. Use the simple random sample of weights of women from a data set, we obtain these sample statistics: N= 35 X = 141.38 lbs Research from other sources suggest that the population of weights of women has a standard deviation given by o = 31.95 lb. a. Find the best point estimate of the mean weight of all women. (The

### Statistics: Test freshmen and juniors for stressful events

Reasearchers were interested in examining the number of stressful events experienced by college students. They collected data from 2 groups of students: freshmen and juniors. The instrument they used to collect the data was a simple checklist that asked the student to check every item that that has occurred to you in the last th

### Calculating the Average Availability of a System

Question: A system has a constant failure rate lambda = 0.0002 failures/hour. When an item fails, it is repaired to be as good as new condition. The associated mean downtime is 6 hours. The system is supposed to be in continuous operation. a) Find the Aav average availability of the system. b) How many hours per year will

### Statistical Analysis: Graphical Representation of Data and Report

Federal Aviation Administration In January 2003, the FAA ordered that passengers be weighed before boarding 10-19 seat passenger airplanes. The order was instituted in response to a crash that occurred on January 8, 2003 in Charlotte, North Carolina, in which all 21 passengers, including the pilot and co-pilot, of a 19-seat

### Bond vs stock indices; expected portfolio return; standard deviation of a portfolio

1. Why are bond market indices more difficult to construct and maintain than stock market indices? 2. An investor wishes to construct a portfolio consisting of a 70% allocation to a stock index and a 30% allocation to a risk free asset. The return on the risk-free asset is 4.5% and the expected return on the stock index is 1

### Statistics 8 questions

1. What is the relationship between the value for degrees of freedom and the shape of the t distribution? What happens to the critical value of t for a particular alpha level when df increases in value 2. The following sample was obtained from a population with unknown parameters Scores: 8, 0, 8, 8 a. Compute the sample me

### Statistics

PROBLEM 1 NBC TV news, in a segment on the price of gasoline, reported last evening that the mean price nationwide is \$1.50 per gallon for self-serve regular unleaded. A random sample of 35 stations in the Milwaukee, WI, area revealed that the mean price was \$1.52 per gallon and that the standard deviation was \$0.05 per gallon

### Statistics Problem: Does all statistical data have a mean, median or mode?

1) Does all statistical data have a mean, median or mode? Why? When is the mean the best measure of central tendency? When is the median the best measure of central tendency? Investigate a business data and then calculate mean, median and mode. Please provide a response explaining thoroughly.

### Prof. Hardtack gave four Friday quizzes: Statistically assess the scores

Individual Assignment: Exercises From the E-Text ? Resource: Applied Statistics in Business and Economics ? Prepare answers to the following exercises from Applied Statistics in Business and Economics: ? Chapter 4: Exercises 4.4 Page 125; with modifications. The following problem is similar to exercise 4

### Six Sigma Analysis: Tolerance Limits and Cpk

Suppose one of the key dimensions of U-bolts manufactured for a particular customer is 10.75 +/- 0.25. To qualify the process, you built 120 u-bolts and obtained the following data. Statistic U-Bolt Measurement Mean 10.717 Standard Error 0.00793 Median 10.7 Mode 10.65 Standard Deviation 0.0868 Sample Variance 0.007

### Mean, median, mode, range and standard deviation of sample data

1. Calculate the (A) mean, (b) median (c) mode and (d) Range and (e) Standard Deviation for the data below. You may use full functions of Excel. Hint. Copy and paste the data into an Excel spread sheet. Copy, then click one cell in Excel, and paste. Excel will fill the proper cells below the one you selected. Mean______;

### Random & Discrete Variable/ Continuous Probability Distributions

See attached files. See attached Practice Business Statistics for Management and Economics ch 7 & 8. The answers are highlighted in yellow. I have difficulty setting up the steps in Excel to come up with the correct answers. I need to see how the answers are derived in Excel. I have found the data required for problems

### Measures of Central Tendency and Variation and their Interpretation

A quality characteristic of interest for a tea-bag-filling process is the weight of the tea in the individual bags. If the bags are under filled, two problems arise. First, customers may not be able to brew the tea to be as strong as they wish. Second, the company may be in violation of the truth-in-labeling laws. In this ex

### Collect data and analyze mean, mode, median, standard deviation

Your specific assignment for this week is to select a type of quantitative data to collect from your own life. Please divide the day into two parts: AM and PM and get the data on one of these items for each part. Describe the data you are going to collect. Collect data starting today so you can have at least 20 observations

### Measures of Central Tendency and Standard Deviation

A. Calculate all measures of central tendency for data that are interval or ratio in measurement b. Calculate the standard deviation for data that are interval or ratio in measurement c. Assume this is a sample of students, calculate a t-test that compares boys and girls on the number of absences (you can assume equal vari

### Statistical calculations to determine if to fire salesperson

A salesperson in a small appliance store sells the following number of air conditioners each month (starting in January) throughout the year. 3, 5, 5, 6, 12, 17, 14, 9, 4, 2, 1, 1. The store owner did a few calculations using one of his statistics books and concluded the salesperson should be fired. Using the knowledge you have

### Calculate all measures of central tendency for data that are interval or ratio in measurement - mean, median, mode

Data for Practice Problems Standard Test Scores Name Gender Absences PE Math Writing Reading Alex Boy 5 49 85 86 80 Anthony Boy 18 51 39 71 75 Douglas Boy 1 82 74 78 79 Jorge Boy 4 56 66 68 60 Joshua Boy 5 83 79 78 77 Luke Boy 0 94 89 84 84 Robert Boy 17 36 36 56 50 Rupert Boy 4 24 55 56 52 Seth Boy 0 61 92 89 83

### Normal Distribution, Mean, Median, Mode, Middle

1. Describe the properties of a normal distribution. Why are there infinite possible normal distributions? Why should one assume that sample data represents a population distribution? 2. Does all statistical data have a mean, median, or mode? Why? When is the mean the best measure of central tendency? When is the median the b

### Unemployment Study

Case Problem #2 Unemployment Study See this link for the general problem. Make sure to use the attached data set, not the one in the book. http://books.google.com/books?id=_sOSAXTuy8cC&lpg=PA386&ots=24jaKDjmjL&dq=case%20problem%202%20Unemployment%20Study&pg=PA386#v=onepage&q=case%20problem%202%20Unemployment%20Study&f=fal

### Descriptive statistics & Confidence Interval: Oil spill

Please see attached file for data. Owing to several major ocean oil spills by tank vessels, Congress passed the 1999 Oil Pollution Act, which requires all tankers to be designed with thicker hulls. Further improvements in the structural design of a tank vessel have been proposed since then, each of which the objective of redu

### Statistical testing for weight of individual tea bags in the manufacturing process

Q3 A quality characteristic of interest for a tea-bag-filling process is the weight of the tea in the individual bags. If the bags are underfilled, two problems arise. First, customers may not be able to brew the tea to be as strong as they wish. Second, the company may be in violation of the truth-in-labelling laws. For this

### Statistics

1. Find the mean of the distribution shown. x 1 2 P(x) 0.31 0.69 A) 0.96 B) 1.42 C) 1.18 D) 1.69 2. For a normal distribution with mean 5 and standard deviation 6, the value 11 has a z value of A) -1 B) 1 C) 2 D) 3 3. If the standard deviation of a probability dis

### Stephanie's Baskets quantitative analysis: Order quantity

Stephanie's Baskets sells wicker baskets at home parties. Stephanie sells 120 baskets/year, carries an ordering cost of \$20/order, and an annual holding cost of 25. She currently orders 25 baskets at a time without using discounts. She has the opportunity to purchase at a discount. Given the following pricing sheet, what qua

### Quantitative analysis of inventory: Optimal production lot size

Powell Industries produces its best-selling wPhone on a production line that has an annual capacity of 160,000 units. Williams Industries estimates the annual demand for this product to be at 60,000 units. The cost to set up the production line is \$2345 and the annual holding cost is \$20/unit. Current practice calls for pro