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https://uopcourses.com/category/qnt-275/
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in inventory?
Calculate the standard deviation of the Days in Inventory for the cars in the sample.
Calculate the 5 number summary for the suggested retail prices of the cars in the sample.
This consists of the 1st, 2nd, 3rd, 4th quartile and the IQR.
Note: Part 1 is not submitted. It is only to be completed in preparation for Part 2.
Part 2
Reference your Excel® spreadsheet from Part 1.
Complete the Week 2 Case in Connect.
Note: You have only 1 attempt available to complete assignments.
Apply: Connect Week 3 Case
Part 1
Three hundred consumers between 21 and 49 years old were randomly selected. After sampling a
new wine cooler, each was asked to rate the appeal of the phrase: "Not sweet like wine coolers,
not filling like beer, and more refreshing than wine or mixed drinks" as it relates to the new
wine cooler. The rating was made on a scale from 1 to 5, with 5 representing "extremely
the ratings. Additionally, your manager would like you to review sales in the test store.
Use the Week 3 Data Set to create and calculate the following in Excel®:
Estimate the probability that a randomly selected 21 to 49 year old consumer:
Would give the phrase a rating of 5
Would give the phrase a rating of 3 or higher
Is in the 21-24 age group
Is a male who gives the phrase a rating of 4
Is a 35 to 49 year old who gives the phrase a rating of 1
Based on the probabilities for the ratings of 4 and 5, which age/gender demographic
and 55 degrees.
Part 2
Reference your Excel® spreadsheet from Part 1.
Complete the Week 3 Case in Connect.
Note: You have only 1 attempt available to complete assignments.
Apply: Connect Week 4 Case
Part 1
You manage Human Relations for your company. One of your sales managers has retired, leaving
an
opening. You are considering two different employees for the position. Both are highly
qualified so you have decided to evaluate their sales performance for the past year.
Use the Week 4 Data Set to create and calculate the following in Excel®:
Determine the range of values in which you would expect to find the average weekly sales
for the entire sales force in your company 90% of the time.
Calculate the impact of increasing the confidence level to 95%?
Calculate the impact of increasing the sample size to 150, assuming the same mean and
population mean.
You want to determine whether there is a statistically different average weekly sales
weekly sales for the 50 sales reps whose data you used to develop confidence intervals.
Create Null and Alternative Hypothesis statements that would allow you to determine
whether the new Sales Manager's weekly average sales are greater than the sample of Sales Reps.
Use a significance level of .05 to conduct a t-test of independent samples to compare
between what you ordered and what you received at the .05 level of significance.
Identify the null and alternative hypotheses.
Generate a scatter plot, the correlation coefficient, and the linear equation that
evaluates whether a relationship exists between the number of times a customer visited the
store in the past 6 months and the total amount of money the customer spent.
Set up a hypothesis test to evaluate the strength of the relationship between the two
variables.
Use a level of significance of .05.
Use the regression line formula to forecast how much a customer might spend on
merchandise
if that customer visited the store 13 times in a 6 month period. Consider the average monthly
data.
Part 2
Reference your Excel® spreadsheet from Part 1.
Complete the Week 5 Case in Connect.
Note: You have only 1 attempt available to complete assignments.
Week 1 Practice: Connect Knowledge Check
1.
Daily temperature in a local community collected over a 30-day time period is an example of
cross-sectional data.
True
False
2.
Time series data are data collected at the same time period.
True
False
3.
Primary data are data collected by an individual.
True
False
4.
A random sample is selected so that every element in the population has the same chance of being
included in the sample.
True
False
5.
__________ consists of a set of concepts and techniques that are used to describe populations and
samples.
Data mining
Traditional statistics
Random sampling
Time series analysis
6.
A sequence of operations that takes inputs and turns them into outputs is a ____________.
statistical inference
process
random sampling
runs plot
7.
Processes produce outputs over time.
True
False
8.
_________ uses traditional or newer graphics to present visual summaries of business
information.
Data mining
Descriptive analytics
Predictive analytics
Association learning
9.
The number of sick days taken by employees in 2008 for the top 10 technology companies is an
example of time series data.
True
False
10.
A population is a set of existing units.
True
False
11.
A(n) _____________ variable is a qualitative variable such that there is no meaningful ordering or
ranking of the categories.
interval
ordinal
ratio
nominative
12.
Judgment sampling occurs when a person who is extremely knowledgeable about the population
under consideration selects the population element(s) that they feel is(are) most representative of
the population.
True
False
Week 2 Practice: Connect Knowledge Check
1.
Award: 0.50 out of 0.50 points
In a statistics class, 10 scores were randomly selected with the following results: 74, 73, 77, 77, 71,
68, 65, 77, 67, 66.
What is the IQR?
11.00
10
5.00
5.25
12.00
2.
A quantity that measures the variation of a population or a sample relative to its mean is called the
____________.
range
interquartile range
standard deviation
coefficient of variation
variance
3.
Award: 0.50 out of 0.50 points
An observation separated from the rest of the data is a(n) ___________.
absolute extreme
outlier
quartile
mode
4.
Award: 0.50 out of 0.50 points
Quality control is an important issue at ACME Company, which manufactures light bulbs. To test
the life-hours of their light bulbs, they randomly sampled nine light bulbs and measured how
many hours they lasted: 378, 361, 350, 375, 200, 391, 375, 368, 321.
What is the mean?
375
389.9
368
346.6
200
5.
Award: 0.50 out of 0.50 points
In a statistics class, 10 scores were randomly selected with the following results (mean = 71.5): 74,
73, 77, 77, 71, 68, 65, 77, 67, 66.
What is the range?
516.20
144.00
22.72
4.77
12.00
6.
Award: 0.50 out of 0.50 points
Which percentile describes the first quartile, Q1?
25th
100th
75th
50th
7.
Award: 0.50 out of 0.50 points
Personnel managers usually want to know where a job applicant ranked in his or her graduating
class. With a grade point average of 3.83, Michelle Robinson graduated above the 93rd percentile
of her graduating class. What is the percentile rank of a student whose GPA was the median GPA.
75th
50th
25th
93rd
10th
8.
Award: 0.50 out of 0.50 pointS
All of the following are measures of central tendency except the ____________.
mode
range
mean
median
9.
Award: 0.50 out of 0.50 points
Quality control is an important issue at ACME Company, which manufactures light bulbs. To test
the life-hours of their light bulbs, they randomly sampled nine light bulbs and measured how
many hours they lasted (mean = 346.6).
378, 361, 350, 375, 200, 391, 375, 368, 321
What is the range?
58.5
191
3424.3
10,609
342.43
10.
The local amusement park was interested in the average wait time at their most popular roller
coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between
2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded
were as follows (in minutes): 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118.
What is the mean?
115.5
148
118
114.15
45
11.
Award: 0.50 out of 0.50 points
The local amusement park was interested in the average wait time at their most popular roller
coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between
2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded
were as follows (in minutes): 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118.
What is the median?
118
115.5
45
114.15
148
12.
Award: 0.50 out of 0.50 points
When establishing the classes for a frequency table, it is generally agreed that the more classes
you use the better your frequency table will be.
True
False
Week 3 Practice: Connect Knowledge Check
Week 4 Practice: Connect Knowledge Check
Week 5 Practice: Connect Knowledge Check
…..
Practice: Week 1 Discussion Question 1
Consider a decision you need to make at work or at home.
Choose one statistical tool that you read about this week.
Explain how this tool will help you make that decision.
Post your response in the discussion area.
Note: This must be original; do not use examples from the Internet.
Practice: Week 1 Discussion Question 2
Measures of Central Tendency
What are the different measures of central tendency? When will they be used?
Practice: Week 2 Discussion Question 1
Objectives:
Research the Internet for an example of a pie chart or bar chart.
Post a copy along with its source in the discussion area.
Include a question regarding the chart for your classmates to respond to.
Respond to a classmate's question.
Practice: Week 2 Discussion Question 1
Objectives:
Research the Internet for an example of a pie chart or bar chart.
Post a copy along with its source in the discussion area.
Include a question regarding the chart for your classmates to respond to.
Respond to a classmate's question.
Practice: Week 3 Discussion Question 1
Objectives:
Reference the Week 2 Case.
Respond to one of the following:
Regarding requirement #4: What impact would an outlier have?
Regarding requirement #5: Why is it important to look at dispersion? Why is standard
deviation a better measure of dispersion than the range?
Post your response in the discussion area.
Practice: Week 3 Discussion Question 2
Objectives:
Variables
Differentiate between discrete and continuous variables? Give examples of each?
Practice: Week 4 Discussion Question 1
Objectives:
Reference the Week 3 Case study.
Respond to one of the following:
Regarding requirement #2: What does the mean and standard deviation mean in terms of
expected sales?
Regarding requirement #2: How can this information be used to benefit the business?
Regarding requirement #3: Can you conclude whether the data is normally distributed?
Regarding requirement #4: What can be interpreted by that percentage?
Post your response in the discussion area.
Practice: Week 4 Discussion Question 2
Objectives:
Normal Distribution
What are the characteristics of the normal distribution?