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Quantative Analysis of Data

Statistics definitions/questions

- what is a z-test? - what is the difference between a t-distribution and a normal distribution - provide an example. - 50 samples of a certain brand of headphones is taken from a Radio Shack warehouse. A standard deviation of 5 is assessed. What is the standard error of the mean? - to what type of binomial problem would we a

Analysis of Customer's Incomes

You are interested in the incomes of your corporate customers. A sample of your customer's incomes yields the following distribution of incomes: $100,000, $200,000, $200,000, $300,000, $300,000, $300,000, $400,000, $400,000, and $500,000. 1) What is the appropriate measure of central tendency and why? 2) What is the appr

Evaluate the Effectiveness of a Large Freezer

See the attached file. INSTRUCTION: StatPro [or similar Excel addin programs] generates new sheets for each problem and deletes previous sheets with the same name. If you want to keep a sheet for your solution, then rename it immediately by prefixing the problem number. You may need suffix numbers to keep the names unique.

Construct Hypothesis Tests in Excel for Employees

Please help setting up and solving the following problem in Excel. The problem with all necessary data are contained in the attached excel spread sheet. MegaStat or similar excel add-in program may be used for the solution. INSTRUCTIONS: StatPro [or other excel statistics program] generates new sheets for each problem an

Estimate and Interpret a Population Variance

See the attached file. With the data below can you tell me how I would estimate and interpret a population mean with the population standard deviation unknown. Title Gross ($) in Millions Aliens 81.843 Armageddon 194.125 As Good As It Gets 147.54 Braveheart 75.6 Chasing Amy 12.006 Contact 100.853 Dante's Peak 67.

Survey on Population of American Intellectual Union

Details: The data set for our course is a sample of a survey conducted on the population of the American Intellectual Union (AIU). It is available via the following link: DataSet with DataSet Key which contains the following nine sections of data that will be used throughout our course: (1) Gender (2) Age (3) Department (4)

Measuring Central Tendency

This Discussion will give you the opportunity to calculate or identify the three measures of central tendency. Select an appropriate real life situation where one measure would be more appropriate than the other two measures of center. a. Select a common topic or hypothesis and record the topic in your posting, for exa

Standard deviation when performing a t-test

Why is it not necessary to have/use a standard deviation when performing a t-test but you need one with a z-test? If you were to add one step to better understand the five-step process, what would that be? How would it make the calculations, or process, easier?

TRUE OR FALSE , MULTIPLE CHOICE, CONFIDENCE INTERVAL

TRUE OR FALSE 1._____The arithmetic mean is the sum of the observations divided by the total number of observations. 2._____There are always as many values above the mean as below it. 3._____The standard deviation is the positive square root of the variance. It is a measure of dispersion in the same units as the ori

Example Questions and Answers in Statistics

Question 2: All 6 members of a family work. Their hourly wages (in dollars) are 18, 26, 31, 10, 13, 40 Assuming that these wages constitute an entire population, find the standard deviation of the population. Round your answer to at least two decimal places. Question 3: Petroleum pollution in oceans stimulates t

Statistics: The Mean Diastolic Blood Pressure

Confidence interval for the population mean: Use of the standard normal Scenario: The mean diastolic blood pressure for a random sample of 90 people was 92 millimeters of mercury. If the standard deviation of individual blood pressure readings is known to be 12 millimeters of mercury, find a 90% confidence interval for the tr

Statistics and Excel Formulas: Service Times

The manager of a fast-food establishment periodically monitors various aspects of its operations, including service time, i.e., the time (in seconds) between placing and receiving an order. Below are the service times for a sample of 48 recent drive-through customers. 84 78 76 95 84 101 91 78 121 99 104 95 74 8

Qualitative variable and quantitative variable

Can you please provide one example of a Qualitative data and one example of a Quantitative Data that you face daily? Please explain why it is a Quantitative or Qualitative data and describe the scale of measurement .

Computing mean, median, mode, variance, standard deviation

1. The ages of all the patients in the isolation ward of the hospital are 38, 26, 13, 41, and 22. What are the population mean, variance, and standard deviation? 2. The weights of a sample of seven FedEx shipments, to the nearest pound, are 10, 7, 11, 10, 13, 5, and 4. Compute the sample mean, the median, and the moda

Quantitative methods - Expressing Constraint into algebraic expressions

Please see attached document for complete details, some of the signs may not print here. 1. Constraint Assume that x2, x7 and x8 are the dollars invested in three different common stocks from New York stock exchange. In order to diversify the investments, the investing company requires that no more than 60% of the dollars i

The Bookstall, Inc., is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1.00 each, and hardcover books are $3.50. Of the 50 books sold last Tuesday morning, 40 were paperback and the rest were hardcover. What was the weighted mean price of a book?

The Bookstall, Inc., is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1.00 each, and hardcover books are $3.50. Of the 50 books sold last Tuesday morning, 40 were paperback and the rest were hardcover. What was the weighted mean price of a book?

Calculating Dispersion and Confidence Intervals

Gas Price Gas Price Gas Price $3.76 $3.99 $4.25 $3.79 $3.99 $4.25 $3.79 $4.00 $4.25 $3.80 $4.00 $4.25 $3.81 $4.03 $4.25 $3.82 $4.05 $4.29 $3.84 $4.05 $4.29 $3.85 $4.07 $4.29 $3.86 $4.08 $4.29 $3.87 $4.09 $4.29 $3.87 $4.09 $4.36 $3.87 $4.09 $4.36 $3.89 $4.09 $4.36 $3.89 $4.11

Quantitative methods - Sensitivity

Please see attached 3 problems. Here's the process I want you to use to answer sensitivity questions. For attached problems, please copy and paste the sensitivity report from QM for Windows. ? Determine if the change is within the permitted boundaries. If it is, the answer to your question can be found within the data.

Mean and Standard Deviation of Data

0 0 5 10 14 16 32 38 40 44 78 86 99 142 175 176 202 220 301 400 A) What is the mean? B) What is the Standard Deviation C) What percent of data fall between minus 2 and plus 2 standard deviations of the mean? How does this compare to the Empirical Rule?

Sample Functions: The Mean Value of the Random Variable

The random number generator in a computer generates three-digit numbers that are uniformly distributed between 0.000 and 0.999 at at rate of one random number per second starting at t=0. A sample function from a random process is generated by summing the 10 most recent random numbers and assigning this sum as the value of the s

Safety Stock and Reorder Point

Lead-time demand is 600 pounds. The standard deviation of lead time demand is 52 pounds. Assuming the lead time demand is normally distributed and that an acceptable risk of stocking out is 4%: a. What is the appropriate amount of safety stock? b. What reorder point will ensure you can provide a 96% service level? c. Would

Descriptive Statistics of Housing Market

Reflect on your local housing market. How can measures of central tendency (mean, median and mode) help you to analyze the local market? Quality control is important for any business. Reflect on your own business or past experiences. How has basic descriptive statistics helped you (or your company) assess operational quality?

Multiple choice questions on Normal distribution, Confidence Interval

1. The amount of pyridoxine (in grams) per multiple vitamin is normally distributed with m = 110 grams and Q(standard deviation)= 25 grams. A sample of 25 vitamins is to be selected. So, the middle 70% of all sample means will fall between what two values? a) 104.8 and 115.2 b) 108.4 and 112.5 c) 115 and 100.7 d) 85 and 12

Queuing: M/M/s model: Comparing no of servers based on total costs

1. Department Store has approximately 300 customers shopping in its store between 9 A.M. and 5 P.M. on Saturdays. In deciding how many cash registers to keep open each Saturday, Schmedley's manager considers two factors: customer waiting time (and the associated waiting cost) and the service costs of employing additional checkou

Batting Average and Company Claims Analysis

These are the only two review questions I would like assistance with. Thank You. 1. A batting average of .400 hasn't been attained for about 70 years. Go to the Baseball data set and compute the 99% CI interval for batting means statistically regarding the difficulty of hitting .400. Baseball Stats attached in Excel. 2.

Skew, coefficients of variation, class limits etc.

1. A group of 100 students were surveyed about their interest in a new International Studies program. Interest was measured in terms of high, medium, or low. 30 students responded high interest; 50 students responded medium interest; 40 students responded low interest. What is the relative frequency of students with high intere