# QNT 275 Entire Course Latest Version A+ Study Guide

QNT 275 Entire Course The 2016 Latest Version (Including Quizzes Assignments and Final Exam)

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QNT/275 Entire Course Link

https://uopcourses.com/category/qnt-275/

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addresses the following prompts:

·

Define

·

Contrast quantitative data and

qualitative data with citation and reference.

·

Describe the levels of data

measurement.

·

Describe the role of statistics in

business decision-making.

·

Provide at least two business

research questions, or problem situations, in which statistics was used or

could be used.

Microsoft® Word document and write a response below each prompt. Add an APA

title page to your document. Use APA quotation, citation, and reference format

for all sources used.

to submit your assignment.

You are the manager in a small town in

the lake district of a Midwestern state enjoys a robust tourist season during

the summer months, but has only a small population of residents during the off

season. The Littletown Café adjusts the levels of staff according to the time

of year, to coincide with the number of guests, with the tourist season

typically starting around Memorial Day each year. One wait staff employee can

serve 50 guests. When a bus staff employee is added, the pair can serve 75

guests. At 76 guests, the café adds a second wait staff employee, for a total

of 2 waiters and one busser. Analysis of guest numbers can support future

decisions about scheduling wait staff, dishwashers, and bus staff for the café.

which you:

·

Explain why this is (or is not) a

suitable sample of quantitative data for the business scenario.

·

Evaluate the factors that would

affect the validity of the data set.

·

Evaluate the factors that would

affect the reliability of the data set.

·

Explain the steps you took to arrive

at your conclusion about validity and reliability.

·

Display the data set in a chart.

·

Explain briefly why that chart type

was selected.

·

Calculate the measures of

central tendency and variability (mean, median, mode, standard deviation) for

the data.

·

Explain the steps you followed to

come your answer.

·

Interpret the measures of central

tendency and variability.What are three conclusions you can draw based on the

data analysis?

to submit your assignment.

·

question1

Which of the following variables is

qualitative?

o

Height

o

Temperature

o

Gender

o

Weight

·

question2

A recent survey of 200 small firms

(annual revenue less than $10 million) asked whether an increase in the minimum

wage would cause the firm to decrease capital spending. Possible responses to

the survey question were: "Yes," "No," or "Don't

Know." These data are best classified as ____________.

o

Nominal Scale

o

Ratio Scale

o

Interval Scale

o

Ordinal Scale

·

question3

Which of the following represents a

population and a sample from that population?

o

Teachers in a high school and members

of the parent teacher group

o

Residents of Albany, New York, and registered

voters in Albany, New York

o

Freshmen at St. Joseph's University and

basketball players at St. Joseph's University

o

Fans at a concert who purchase t-shirts

and fans at a concert who purchase soda

·

question4

Which of the following variables is

quantitative?

o

Religious Affiliation

o

Gender

o

Marital Status

o

Temperature

·

question5

The accompanying chart shows the

numbers of books written by each author in a collection of cookbooks. What type

of chart is this?

o

Bar chart for quantitative data

o

Frequency histogram for quantitative

data

o

Bar chart for qualitative data

o

Frequency histogram for qualitative

data

·

question6

In order to summarize qualitative data,

a useful tool is a __________.

o

Frequency Distribution

o

Line Graph

o

Histogram

o

Stem-and-Leaf Diagram

·

question7

ABC Plumbing wants to understand its

customers’ perceptions of the quality of the company’s plumbing service calls.

They plan to survey a sample of its customer base. What will ABC need to do to

ensure that their data is valid and reliable?

o

The survey must include items that ask

customers about their plumbing experiences, the survey sample must include the

first 15 customers off the customer database, and the survey method must be

repeatable.

o

The survey must include items that ask

customers to rate the quality of plumbing service calls, the survey sample must

represent all parts of the customer population, and the survey method must be

repeatable.

o

The survey must include items that ask

customers to rate the appearance of the plumbing store, the survey must include

all customers, and the survey method must include setting up a table outside

the local dollar store.

o

The survey must include items that ask

customers to rate the friendliness of the receptionist, the survey must include

all customers from the north side of the city, and the survey method must appeal

to all respondents.

·

question8

A stem-and-leaf diagram is constructed

by separating each value of a data set into two parts. What are these parts?

o

Stem consisting of the leftmost digits

and leaf consisting of the second digit

o

Stem consisting of the second digit and

leaf consisting of the last digit

o

Stem consisting of the leftmost digits

and leaf consisting of the last digit

o

Stem consisting of the last digit and

leaf consisting of the leftmost digits

·

question9

A population consists of

_________________.

o

a subject of interest in a sample

o

all items of interest in a statistical

problem

o

all items of interest in a sample

o

a subject of interest in a statistical

problem

company where you work or with which you're familiar. This will be a business

problem that you use for the individual assignments in Week 3-5. You will chose

a company and identify an opportunity or problem that you can analyze and thus

better understand that problem or opportunity.

problem/opportunity that could be measured with some type of data collection.

sample of either qualitative or quantitative data for the variable. Consider

method would be valid and reliable.

of the company, problem, and variable.

·

Identify the name and description of

the selected company,

·

Describe the problem at that company,

·

Identify one research variable from

that problem,

·

Describe the methods you would use

for collecting a suitable sample of either qualitative or quantitative data for

the variable (NOTE: do not actually collect any data)

·

Analyze how you will know if the data

collection method would generate valid and reliable data (

guidelines using the New APA Paper Template provided at right.

to submit your assignment.

·

question1

What does it mean when we say that the

tails of the normal curve are asymptotic to the x axis?

o

The tails gets closer and closer to the

x axis and eventually touch it.

o

The tails get closer and closer to the

x axis and eventually cross this axis.

o

The tails get closer and closer to the

x axis but never touch it.

o

The tails get closer and closer to the

x axis and eventually become this axis.

question2

You work in marketing for a company that

produces work boots. Quality control has sent you a memo detailing the length

of time before the boots wear out under heavy use. They find that the boots

wear out in an average of 208 days, but the exact amount of time varies,

following a normal distribution with a standard deviation of 14 days. For an

upcoming ad campaign, you need to know the percent of the pairs that last

longer than six months-that is, 180 days. Use the empirical rule to approximate

this percent.

o

95%

o

2.5%

o

97.5%

o

5%

·

·

question3

For any normally distributed random

variable with mean μ and standard deviation σ, the percent of

the observations that fall

between and is closest to _______.

o

95%

o

16%

o

68%

o

32%

·

·

question4

A continuous random variable has the

uniform distribution on the interval [a, b] if its probability density

functionf(x) ___________.

o

is constant for all x between a and b,

and 0 otherwise

o

is bell-shaped between a and b

o

is symmetric around its mean

o

asymptotically approaches the x axis

when x increases to +∞ or decreases to -∞

·

·

·

question5

Mutually exclusive and collectively

exhaustive events _______________.

o

do not have to contain all outcomes in

a sample space and may share common outcomes

o

contain all outcomes in a sample space

and do not share common outcomes.

o

contain all outcomes in a sample space

and may share common outcomes

o

do not have to contain all outcomes in

a sample space but do not share common outcomes

·

·

·

·

question6

What is probability?

o

Any value between 0 and 1 is always

treated as a probability of an event.

o

A value between 0 and 1 assigned to an

event that measures the likelihood of its occurrence.

o

A value between 0 and 1 assigned to an

event that measures the unlikelihood of its occurrence.

o

A numerical value assigned to an event

that measures the number of its occurrences.

·

·

·

question7

Which of the following can be

represented by a continuous random variable?

o

The number of arrivals to a drive-thru

bank window in a four-hour period

o

The number of defective light bulbs in

a sample of 5

o

The score of a randomly selected

student on a five-question multiple-choice quiz

o

The time of a flight between Chicago

and New York

·

·

·

·

question8

Which of the following is correct?

o

A continuous random variable has a

probability density function but not a cumulative distribution function.

o

A continuous random variable has a

probability density function, and a discrete random variable has a probability

mass function.

o

A discrete random variable has a

probability mass function but not a cumulative distribution function.

o

A continuous random variable has a

probability mass function, and a discrete random variable has a probability

density function.

·

·

·

question9

Which of the following can be

represented by a discrete random variable?

o

The finishing time of participants in a

cross-country meet

o

The number of obtained spots when

rolling a six-sided die

o

The average outside temperature taken

every day for two weeks

o

The height of college students

·

·

·

·

question10

The probability that a normal random

variable is less than its mean is ____.

o

Cannot be determined

o

0.0

o

1.0

o

0.5

and research variable you wrote about in Week 3.

think hypothetically.

which you:

·

Identify the types of descriptive

statistics that might be best for summarizing the data, if you were to collect

a sample.

·

Apply the types of inferential

statistics that might be best for analyzing the data, if you were to collect a

sample.

·

Analyze the role probability or trend

analysis might play in helping address the business problem.

·

Analyze the role that linear

regression for trend analysis might play in helping address the business

problem.

·

Analyze the role that a time series

might play in helping address the business problem.

guidelines using the template at right.

to submit your assignment.

·

question1

For a given set of explanatory

variables, in general:

o

a confidence interval is narrower than

a prediction interval.

o

a confidence interval is wider than a

prediction interval.

o

The width of a confidence interval

cannot be determined.

o

the width of a confidence interval is

the same as the width of a prediction interval.

·

question2

The standard error of the estimate

measures:

o

the variability of the observed

y-values around the predicted y-values.

o

the variability of the predicted

y-values around the mean of the observed y-values.

o

the variability of the values of the

sample regression coefficients.

o

the variability of the explanatory

variables.

·

question3

In a simple linear regression model, if

the plots on a scatter diagram lie on a straight line, what is the standard

error of the estimate?

o

+1

o

-1

o

Infinity

o

0

·

question4

Which of the following variables is not

qualitative?

o

Gender of a person

o

Religious affiliation

o

Student's status (freshman, sophomore,

etc.)

o

Number of dependents claimed on a tax

return

·

question5

Consider the following simple linear

regression model: The response variable is:

o

β0

o

x

o

y

o

ε

·

·

·

·

question6

Another name for an explanatory

variable is the ___.

o

descriptive variable

o

independent variable

o

inferred variable

o

dependent variable

·

·

·

·

·

question7

Serial correlation is typically

observed in:

o

outliers.

o

sparse data.

o

cross-sectional data.

o

time series data.

·

question8

Consider the following simple linear

regression model: β0 and β1 are:

o

the unknown parameters.

o

the random error terms.

o

the response variables.

o

the explanatory variables.

·

question9

What is the name of the variable that's

used to predict another variable?

o

Coefficient of Determination

o

Standard Error of the Estimate

o

Response

o

Explanatory

·

question10

Which of the following violates the

assumptions of regression analysis?

o

The error term has a constant variance.

o

The error term has a zero mean.

o

The error term is normally distributed.

o

The error term is correlated with an

explanatory variable.

management team based on the business problem or opportunity you described in

Week 3 and 4. Draw on material you developed in the Week 3 and 4 assignments.

presentation:

·

Introduction slide

·

Agenda slide

·

Describe the organization, with a

brief description

·

Explain the business problem or

opportunity

·

Analyze why the business problem is

important

·

Identify what variable would be best

to measure for this problem. Explain why.

·

Apply data analysis techniques to

this problem (tell which techniques should be used: descriptive stats,

inferential stats, probability, linear regression, time series). Explain why.

·

Apply a possible solution to the

problem/opportunity, with rationale.

·

Evaluate how data could be used to

measure the implementation of such a solution.

·

Conclusion

·

References slide (if any source

material is quoted or paraphrased throughout the presentation)

audience to see (include appropriate visual aids/layout) and include in the

Speaker's Notes section what you'd say as you present each slide. If any source

material is quoted or paraphrased in the presentation, use APA citations and

references.

to submit your presentation.

1

The

salaries of teachers in a particular school district are normally distributed

with a mean of $50,000 and a standard deviation of $2,500. Due to budget

limitations, it has been decided that the teachers who are in the top 2.5% of

the salaries would not get a raise. What is the salary level that divides the

teachers into one group that gets a raise and one that doesn't?

•

45,100

•

54,900

•

-1.96

•

1.96

2

In the accompanying stem-and-leaf diagram,

the values in the stem and leaf portions represent 10s and 1s digits,

respectively.

The stem-and-leaf diagram shows that the

distribution is ___________.

•

None of the answers

•

negatively skewed

•

symmetric

•

positively skewed

3

Which of the following is a quantitative

variable?

•

House age

•

All the answers

•

House price

•

House size

4

Which of the following meets the

requirements of a stratified random sample?

•

A population contains 10 members under the

age of 25 and 20 members over the age of 25. The sample will include six males

chosen at random, without regard to age.

•

A population contains 10 members under the

age of 25 and 20 members over the age of 25. The sample will include six people

who volunteer for the sample.

•

A population contains 10 members under the

age of 25 and 20 members over the age of 25. The sample will include six people

chosen at random, without regard to age.

•

A population contains 10 members under the

age of 25 and 20 members over the age of 25. The sample will include two people

chosen at random under the age of 25 and four people chosen at random over 25.

5

Which of the following can be represented

by a continuous random variable?

•

The number of typos found on a randomly

selected page of this test bank

•

The average temperature in Tampa, Florida,

during the month of July

•

The number of customers who visit a

department store between 10:00 a.m. and 11:00 a.m. on Mondays

•

The number of students who will get

financial assistance in a group of 50 randomly selected students

6

In the sample regression equation what is

?

•

The y-intercept

•

The predicted value of y, given a specific

x value

•

The value of y when x = 0

•

The slope of the equation

7

Mutually exclusive events ______________.

•

do not share common outcomes

•

contain all possible outcomes

•

do not contain all possible outcomes

•

may share common outcomes

8

Which of the following can be represented

by a discrete random variable?

•

The circumference of a randomly generated

circle

•

The average distance achieved in a series

of long jumps

•

The number of defective light bulbs in a

sample of five

•

The time of a flight between Chicago and

New York

9

A

manager of a fast food restaurant wants to ensure that staff are scheduled with

the sufficient hours required to meet customer demands without overspending on

labor costs. The manager has daily guest counts, sales data, and staff hours

for the prior year. What should the manager do next in order to reach

conclusions about scheduling restaurant staff?

•

Provide the data sets to the restaurant

owner for analysis by the owner’s staff.

•

Schedule staff based on the staffing levels

used on the same date the prior year.

•

Perform descriptive statistics, inferential

statistics, and time series analysis.

•

Create a graph of the data and extend the

graph forward in time to set the schedule.

10

A-Plus Dry Cleaners wants to understand its

customers’ perceptions of the quality of the company’s customer service. They

plan to survey a sample of its customer base. What will A-Plus need to do to

ensure that their data is valid and reliable?

•

The survey must include items that ask

customers to rate the appearance of the dry cleaning store, the survey must

include all customers, and the survey method must include setting up a table

outside the local dollar store.

•

The survey must include items that ask

customers to rate the quality of the company’s customer service, the survey

sample must represent all parts of the customer population, and the survey

method must be repeatable.

•

The survey must include items that ask

customers to rate the friendliness of the staff, the survey must include all

customers from the north side of the city, and the survey method must appeal to

all respondents.

•

The survey must include items that ask

customers about their dry cleaning experiences, the survey sample must include

the first 15 customers off the customer database, and the survey method must be

repeatable.

11

The two branches of the study of statistics

are generally referred to as ___________.

•

differential and descriptive statistics

•

inferential and differential statistics

•

descriptive and referential statistics

•

descriptive and inferential statistics

12

Serial correlation is typically observed

in:

•

time series data

•

outliers

•

sparse data

•

cross-sectional data

13

The

manager of a retail shoe store has applied statistics to analyze sales,

purchasing, and data and reached the

conclusion that the store could reduce costs by reducing inventory of very

small and very large sizes, and substituting an online ordering service to

drop-ship rare sizes directly from suppliers. How should the manager communicate

those results to the store owner?

•

Summarize the recommendations, supported by

visual representation of the data and statistics.

•

Schedule a conference call with the owner

and suppliers to discuss online ordering options.

•

Project the future online sales data using

a line graph.

•

Provide the complete data set and all

statistical analyses to the owner in spreadsheets.

14

Professors at a local university earn an

average salary of $80,000 with a standard deviation of $6,000. The salary

distribution is approximately bell-shaped. What can be said about the

percentage of salaries that are at least $74,000?

•

About 84 percent

•

About 97.5 percent

•

About 95 percent

•

About 68 percent

15

Which of the following violates the

assumptions of regression analysis?

•

The error term has a constant variance.

•

The error term is uncorrelated with an

explanatory variable.

•

The error term has a zero mean.

•

The error term does not have the normal

distribution.

16

The study of statistics can be defined as:

•

the language of data.

•

the art and science of getting information

from data.

•

All of the answers

•

the study of collecting, analyzing,

presenting, and interpreting data.

17

What is the name of the variable that's

used to predict another variable?

•

Coefficient of determination

•

Response

•

Explanatory

•

Standard error of the estimate

18

Consider a population with data values of

12, 8, 28, 22, 12, 30, 14.

The median is:

•

12

•

22

•

14

•

18

19

Which scales of data measurement are

associated with quantitative data?

•

Nominal and ordinal

•

Ordinal and interval

•

Ratio and nominal

•

Interval and ratio

20

What is (are) the most widely used

measure(s) of dispersion?

•

Covariance and the correlation coefficient

•

Interquartile range

•

Variance and standard deviation

•

Range

21

Frequency distributions may be used to

describe which of the following types of data?

•

Nominal and interval data only

•

Nominal, ordinal, and interval data only

•

Nominal and ordinal data only

•

Nominal, ordinal, interval, and ratio data

22

A company wants to estimate the mean price

of oil over the past 10 years. What kind of data does the company need?

•

Descriptive statistics

•

Cross-sectional data

•

Time series data

•

Inferential statistics

23

What type of relationship is indicated in

the scatterplot?

•

A negative linear relationship

•

A positive linear or curvilinear

relationship

•

A negative curvilinear relationship

•

No relationship

24

Which of the following is most influenced

by outliers?

•

75th percentile

•

Mean

•

Mode

•

Median

25

Bias can occur in sampling. Bias refers to

_____________________.

•

the division of the population into

overlapping groups

•

the creation of strata, which are

proportional to the stratum's size

•

the use of cluster sampling instead of

stratified random sampling

•

the tendency of a sample statistic to

systematically over-or underestimate a population parameter

26

The

owner of a company has recently decided to raise the salary of one employee,

who was already making the highest salary, by 20%. Which of the following

is(are) expected to be affected by this raise?

•

Median only

•

Mean, median, and mode

•

Mean and median only

•

Mean only

27

The estimation of which of the following

requires sampling?

•

The Cleveland Indians' hitting percentage

in 2010

•

The average SAT score of incoming freshmen

at a university

•

U.S. unemployment rate

•

Total rainfall in Phoenix, Arizona, in 2010

28

Horizontal bar charts are constructed by

placing:

•

each interval of values on the vertical

axis and the appropriate range of values on the horizontal axis.

•

each category on the horizontal axis and

the appropriate range of values on the vertical axis.

•

each category on the vertical axis and the

appropriate range of values on the horizontal axis.

•

None of the Answers.

29

A

hedge fund returns on average 26% per year with a standard deviation of 12%.

Using the empirical rule, approximate the probability the fund returns over 50%

next year.

•

0.5%

•

1%

•

5%

•

2.5%

**********************************************************

QNT/275 Entire Course Link

https://uopcourses.com/category/qnt-275/

**********************************************************

**QNT/275****STATISTICS FOR DECISION MAKING****The 2016 Latest Version A+ Study Guide****Download Link:****https://uopcourses.com/category/qnt-275/****Week 1**

Statistics in BusinessStatistics in Business

**Write**a 525- to 700-word response thataddresses the following prompts:

·

Define

*statistics*with citation and reference.·

Contrast quantitative data and

qualitative data with citation and reference.

·

Describe the levels of data

measurement.

·

Describe the role of statistics in

business decision-making.

·

Provide at least two business

research questions, or problem situations, in which statistics was used or

could be used.

**Copy**and**paste**the five prompts above into aMicrosoft® Word document and write a response below each prompt. Add an APA

title page to your document. Use APA quotation, citation, and reference format

for all sources used.

**Click**the Assignment Files tabto submit your assignment.

**Week 2 Activity Data Set****Resource:**University of Phoenix Material: Data Set**Review**the following business scenario:You are the manager in a small town in

the lake district of a Midwestern state enjoys a robust tourist season during

the summer months, but has only a small population of residents during the off

season. The Littletown Café adjusts the levels of staff according to the time

of year, to coincide with the number of guests, with the tourist season

typically starting around Memorial Day each year. One wait staff employee can

serve 50 guests. When a bus staff employee is added, the pair can serve 75

guests. At 76 guests, the café adds a second wait staff employee, for a total

of 2 waiters and one busser. Analysis of guest numbers can support future

decisions about scheduling wait staff, dishwashers, and bus staff for the café.

**Download**the data set.**Review**the data in the data set.**Write**a 700- to 1,050-word paper inwhich you:

·

Explain why this is (or is not) a

suitable sample of quantitative data for the business scenario.

·

Evaluate the factors that would

affect the validity of the data set.

·

Evaluate the factors that would

affect the reliability of the data set.

·

Explain the steps you took to arrive

at your conclusion about validity and reliability.

·

Display the data set in a chart.

·

Explain briefly why that chart type

was selected.

·

Calculate the measures of

central tendency and variability (mean, median, mode, standard deviation) for

the data.

·

Explain the steps you followed to

come your answer.

·

Interpret the measures of central

tendency and variability.What are three conclusions you can draw based on the

data analysis?

**Click**the Assignment Files tabto submit your assignment.

**Week 2 Quiz**·

question1

Which of the following variables is

qualitative?

o

Height

o

Temperature

o

Gender

o

Weight

·

question2

A recent survey of 200 small firms

(annual revenue less than $10 million) asked whether an increase in the minimum

wage would cause the firm to decrease capital spending. Possible responses to

the survey question were: "Yes," "No," or "Don't

Know." These data are best classified as ____________.

o

Nominal Scale

o

Ratio Scale

o

Interval Scale

o

Ordinal Scale

·

question3

Which of the following represents a

population and a sample from that population?

o

Teachers in a high school and members

of the parent teacher group

o

Residents of Albany, New York, and registered

voters in Albany, New York

o

Freshmen at St. Joseph's University and

basketball players at St. Joseph's University

o

Fans at a concert who purchase t-shirts

and fans at a concert who purchase soda

·

question4

Which of the following variables is

quantitative?

o

Religious Affiliation

o

Gender

o

Marital Status

o

Temperature

·

question5

The accompanying chart shows the

numbers of books written by each author in a collection of cookbooks. What type

of chart is this?

o

Bar chart for quantitative data

o

Frequency histogram for quantitative

data

o

Bar chart for qualitative data

o

Frequency histogram for qualitative

data

·

question6

In order to summarize qualitative data,

a useful tool is a __________.

o

Frequency Distribution

o

Line Graph

o

Histogram

o

Stem-and-Leaf Diagram

·

question7

ABC Plumbing wants to understand its

customers’ perceptions of the quality of the company’s plumbing service calls.

They plan to survey a sample of its customer base. What will ABC need to do to

ensure that their data is valid and reliable?

o

The survey must include items that ask

customers about their plumbing experiences, the survey sample must include the

first 15 customers off the customer database, and the survey method must be

repeatable.

o

The survey must include items that ask

customers to rate the quality of plumbing service calls, the survey sample must

represent all parts of the customer population, and the survey method must be

repeatable.

o

The survey must include items that ask

customers to rate the appearance of the plumbing store, the survey must include

all customers, and the survey method must include setting up a table outside

the local dollar store.

o

The survey must include items that ask

customers to rate the friendliness of the receptionist, the survey must include

all customers from the north side of the city, and the survey method must appeal

to all respondents.

·

question8

A stem-and-leaf diagram is constructed

by separating each value of a data set into two parts. What are these parts?

o

Stem consisting of the leftmost digits

and leaf consisting of the second digit

o

Stem consisting of the second digit and

leaf consisting of the last digit

o

Stem consisting of the leftmost digits

and leaf consisting of the last digit

o

Stem consisting of the last digit and

leaf consisting of the leftmost digits

·

question9

A population consists of

_________________.

o

a subject of interest in a sample

o

all items of interest in a statistical

problem

o

all items of interest in a sample

o

a subject of interest in a statistical

problem

**Week 3 CLO Business Decision Making Project Part 1****Identify**a business problem or opportunity at acompany where you work or with which you're familiar. This will be a business

problem that you use for the individual assignments in Week 3-5. You will chose

a company and identify an opportunity or problem that you can analyze and thus

better understand that problem or opportunity.

**Identify**a research variable within theproblem/opportunity that could be measured with some type of data collection.

**Consider**methods for collecting a suitablesample of either qualitative or quantitative data for the variable. Consider

**how you will know if the data collection**method would be valid and reliable.

**Write**a 700- to 1,050-word descriptionof the company, problem, and variable.

**Include**in your submission:·

Identify the name and description of

the selected company,

·

Describe the problem at that company,

·

Identify one research variable from

that problem,

·

Describe the methods you would use

for collecting a suitable sample of either qualitative or quantitative data for

the variable (NOTE: do not actually collect any data)

·

Analyze how you will know if the data

collection method would generate valid and reliable data (

*Note*: do not actually collect any data)**Format**your paper consistent with APAguidelines using the New APA Paper Template provided at right.

**Click**the Assignment Files tabto submit your assignment.

**Week 3 Quiz**·

question1

What does it mean when we say that the

tails of the normal curve are asymptotic to the x axis?

o

The tails gets closer and closer to the

x axis and eventually touch it.

o

The tails get closer and closer to the

x axis and eventually cross this axis.

o

The tails get closer and closer to the

x axis but never touch it.

o

The tails get closer and closer to the

x axis and eventually become this axis.

question2

You work in marketing for a company that

produces work boots. Quality control has sent you a memo detailing the length

of time before the boots wear out under heavy use. They find that the boots

wear out in an average of 208 days, but the exact amount of time varies,

following a normal distribution with a standard deviation of 14 days. For an

upcoming ad campaign, you need to know the percent of the pairs that last

longer than six months-that is, 180 days. Use the empirical rule to approximate

this percent.

o

95%

o

2.5%

o

97.5%

o

5%

·

·

question3

For any normally distributed random

variable with mean μ and standard deviation σ, the percent of

the observations that fall

between and is closest to _______.

o

95%

o

16%

o

68%

o

32%

·

·

question4

A continuous random variable has the

uniform distribution on the interval [a, b] if its probability density

functionf(x) ___________.

o

is constant for all x between a and b,

and 0 otherwise

o

is bell-shaped between a and b

o

is symmetric around its mean

o

asymptotically approaches the x axis

when x increases to +∞ or decreases to -∞

·

·

·

question5

Mutually exclusive and collectively

exhaustive events _______________.

o

do not have to contain all outcomes in

a sample space and may share common outcomes

o

contain all outcomes in a sample space

and do not share common outcomes.

o

contain all outcomes in a sample space

and may share common outcomes

o

do not have to contain all outcomes in

a sample space but do not share common outcomes

·

·

·

·

question6

What is probability?

o

Any value between 0 and 1 is always

treated as a probability of an event.

o

A value between 0 and 1 assigned to an

event that measures the likelihood of its occurrence.

o

A value between 0 and 1 assigned to an

event that measures the unlikelihood of its occurrence.

o

A numerical value assigned to an event

that measures the number of its occurrences.

·

·

·

question7

Which of the following can be

represented by a continuous random variable?

o

The number of arrivals to a drive-thru

bank window in a four-hour period

o

The number of defective light bulbs in

a sample of 5

o

The score of a randomly selected

student on a five-question multiple-choice quiz

o

The time of a flight between Chicago

and New York

·

·

·

·

question8

Which of the following is correct?

o

A continuous random variable has a

probability density function but not a cumulative distribution function.

o

A continuous random variable has a

probability density function, and a discrete random variable has a probability

mass function.

o

A discrete random variable has a

probability mass function but not a cumulative distribution function.

o

A continuous random variable has a

probability mass function, and a discrete random variable has a probability

density function.

·

·

·

question9

Which of the following can be

represented by a discrete random variable?

o

The finishing time of participants in a

cross-country meet

o

The number of obtained spots when

rolling a six-sided die

o

The average outside temperature taken

every day for two weeks

o

The height of college students

·

·

·

·

question10

The probability that a normal random

variable is less than its mean is ____.

o

Cannot be determined

o

0.0

o

1.0

o

0.5

**Week 4 CLO Business Decision Making Project, Part 2****Use**the same business problem/opportunityand research variable you wrote about in Week 3.

**Remember**: Do not actually collect any data;think hypothetically.

**Write**a 700- to 1,050-word summary inwhich you:

·

Identify the types of descriptive

statistics that might be best for summarizing the data, if you were to collect

a sample.

·

Apply the types of inferential

statistics that might be best for analyzing the data, if you were to collect a

sample.

·

Analyze the role probability or trend

analysis might play in helping address the business problem.

·

Analyze the role that linear

regression for trend analysis might play in helping address the business

problem.

·

Analyze the role that a time series

might play in helping address the business problem.

**Format**your paper consistent with APAguidelines using the template at right.

**Click**the Assignment Files tabto submit your assignment.

**Week 4 Quiz**·

question1

For a given set of explanatory

variables, in general:

o

a confidence interval is narrower than

a prediction interval.

o

a confidence interval is wider than a

prediction interval.

o

The width of a confidence interval

cannot be determined.

o

the width of a confidence interval is

the same as the width of a prediction interval.

·

question2

The standard error of the estimate

measures:

o

the variability of the observed

y-values around the predicted y-values.

o

the variability of the predicted

y-values around the mean of the observed y-values.

o

the variability of the values of the

sample regression coefficients.

o

the variability of the explanatory

variables.

·

question3

In a simple linear regression model, if

the plots on a scatter diagram lie on a straight line, what is the standard

error of the estimate?

o

+1

o

-1

o

Infinity

o

0

·

question4

Which of the following variables is not

qualitative?

o

Gender of a person

o

Religious affiliation

o

Student's status (freshman, sophomore,

etc.)

o

Number of dependents claimed on a tax

return

·

question5

Consider the following simple linear

regression model: The response variable is:

o

β0

o

x

o

y

o

ε

·

·

·

·

question6

Another name for an explanatory

variable is the ___.

o

descriptive variable

o

independent variable

o

inferred variable

o

dependent variable

·

·

·

·

·

question7

Serial correlation is typically

observed in:

o

outliers.

o

sparse data.

o

cross-sectional data.

o

time series data.

·

question8

Consider the following simple linear

regression model: β0 and β1 are:

o

the unknown parameters.

o

the random error terms.

o

the response variables.

o

the explanatory variables.

·

question9

What is the name of the variable that's

used to predict another variable?

o

Coefficient of Determination

o

Standard Error of the Estimate

o

Response

o

Explanatory

·

question10

Which of the following violates the

assumptions of regression analysis?

o

The error term has a constant variance.

o

The error term has a zero mean.

o

The error term is normally distributed.

o

The error term is correlated with an

explanatory variable.

**Week 5 CLO Business Decision Making Project, Part 3:**

Signature AssignmentSignature Assignment

**Prepare**an 11- to 15-slide Microsoft® PowerPoint® presentation for the seniormanagement team based on the business problem or opportunity you described in

Week 3 and 4. Draw on material you developed in the Week 3 and 4 assignments.

**Include**the following in yourpresentation:

·

Introduction slide

·

Agenda slide

·

Describe the organization, with a

brief description

·

Explain the business problem or

opportunity

·

Analyze why the business problem is

important

·

Identify what variable would be best

to measure for this problem. Explain why.

·

Apply data analysis techniques to

this problem (tell which techniques should be used: descriptive stats,

inferential stats, probability, linear regression, time series). Explain why.

·

Apply a possible solution to the

problem/opportunity, with rationale.

·

Evaluate how data could be used to

measure the implementation of such a solution.

·

Conclusion

·

References slide (if any source

material is quoted or paraphrased throughout the presentation)

**Include**on the slides what you'd want theaudience to see (include appropriate visual aids/layout) and include in the

Speaker's Notes section what you'd say as you present each slide. If any source

material is quoted or paraphrased in the presentation, use APA citations and

references.

**Click**the Assignment Files tabto submit your presentation.

**Week 5 Final**

ExaminationExamination

**Complete**the final examination for Week 51

The

salaries of teachers in a particular school district are normally distributed

with a mean of $50,000 and a standard deviation of $2,500. Due to budget

limitations, it has been decided that the teachers who are in the top 2.5% of

the salaries would not get a raise. What is the salary level that divides the

teachers into one group that gets a raise and one that doesn't?

•

45,100

•

54,900

•

-1.96

•

1.96

2

In the accompanying stem-and-leaf diagram,

the values in the stem and leaf portions represent 10s and 1s digits,

respectively.

The stem-and-leaf diagram shows that the

distribution is ___________.

•

None of the answers

•

negatively skewed

•

symmetric

•

positively skewed

3

Which of the following is a quantitative

variable?

•

House age

•

All the answers

•

House price

•

House size

4

Which of the following meets the

requirements of a stratified random sample?

•

A population contains 10 members under the

age of 25 and 20 members over the age of 25. The sample will include six males

chosen at random, without regard to age.

•

A population contains 10 members under the

age of 25 and 20 members over the age of 25. The sample will include six people

who volunteer for the sample.

•

A population contains 10 members under the

age of 25 and 20 members over the age of 25. The sample will include six people

chosen at random, without regard to age.

•

A population contains 10 members under the

age of 25 and 20 members over the age of 25. The sample will include two people

chosen at random under the age of 25 and four people chosen at random over 25.

5

Which of the following can be represented

by a continuous random variable?

•

The number of typos found on a randomly

selected page of this test bank

•

The average temperature in Tampa, Florida,

during the month of July

•

The number of customers who visit a

department store between 10:00 a.m. and 11:00 a.m. on Mondays

•

The number of students who will get

financial assistance in a group of 50 randomly selected students

6

In the sample regression equation what is

?

•

The y-intercept

•

The predicted value of y, given a specific

x value

•

The value of y when x = 0

•

The slope of the equation

7

Mutually exclusive events ______________.

•

do not share common outcomes

•

contain all possible outcomes

•

do not contain all possible outcomes

•

may share common outcomes

8

Which of the following can be represented

by a discrete random variable?

•

The circumference of a randomly generated

circle

•

The average distance achieved in a series

of long jumps

•

The number of defective light bulbs in a

sample of five

•

The time of a flight between Chicago and

New York

9

A

manager of a fast food restaurant wants to ensure that staff are scheduled with

the sufficient hours required to meet customer demands without overspending on

labor costs. The manager has daily guest counts, sales data, and staff hours

for the prior year. What should the manager do next in order to reach

conclusions about scheduling restaurant staff?

•

Provide the data sets to the restaurant

owner for analysis by the owner’s staff.

•

Schedule staff based on the staffing levels

used on the same date the prior year.

•

Perform descriptive statistics, inferential

statistics, and time series analysis.

•

Create a graph of the data and extend the

graph forward in time to set the schedule.

10

A-Plus Dry Cleaners wants to understand its

customers’ perceptions of the quality of the company’s customer service. They

plan to survey a sample of its customer base. What will A-Plus need to do to

ensure that their data is valid and reliable?

•

The survey must include items that ask

customers to rate the appearance of the dry cleaning store, the survey must

include all customers, and the survey method must include setting up a table

outside the local dollar store.

•

The survey must include items that ask

customers to rate the quality of the company’s customer service, the survey

sample must represent all parts of the customer population, and the survey

method must be repeatable.

•

The survey must include items that ask

customers to rate the friendliness of the staff, the survey must include all

customers from the north side of the city, and the survey method must appeal to

all respondents.

•

The survey must include items that ask

customers about their dry cleaning experiences, the survey sample must include

the first 15 customers off the customer database, and the survey method must be

repeatable.

11

The two branches of the study of statistics

are generally referred to as ___________.

•

differential and descriptive statistics

•

inferential and differential statistics

•

descriptive and referential statistics

•

descriptive and inferential statistics

12

Serial correlation is typically observed

in:

•

time series data

•

outliers

•

sparse data

•

cross-sectional data

13

The

manager of a retail shoe store has applied statistics to analyze sales,

purchasing, and data and reached the

conclusion that the store could reduce costs by reducing inventory of very

small and very large sizes, and substituting an online ordering service to

drop-ship rare sizes directly from suppliers. How should the manager communicate

those results to the store owner?

•

Summarize the recommendations, supported by

visual representation of the data and statistics.

•

Schedule a conference call with the owner

and suppliers to discuss online ordering options.

•

Project the future online sales data using

a line graph.

•

Provide the complete data set and all

statistical analyses to the owner in spreadsheets.

14

Professors at a local university earn an

average salary of $80,000 with a standard deviation of $6,000. The salary

distribution is approximately bell-shaped. What can be said about the

percentage of salaries that are at least $74,000?

•

About 84 percent

•

About 97.5 percent

•

About 95 percent

•

About 68 percent

15

Which of the following violates the

assumptions of regression analysis?

•

The error term has a constant variance.

•

The error term is uncorrelated with an

explanatory variable.

•

The error term has a zero mean.

•

The error term does not have the normal

distribution.

16

The study of statistics can be defined as:

•

the language of data.

•

the art and science of getting information

from data.

•

All of the answers

•

the study of collecting, analyzing,

presenting, and interpreting data.

17

What is the name of the variable that's

used to predict another variable?

•

Coefficient of determination

•

Response

•

Explanatory

•

Standard error of the estimate

18

Consider a population with data values of

12, 8, 28, 22, 12, 30, 14.

The median is:

•

12

•

22

•

14

•

18

19

Which scales of data measurement are

associated with quantitative data?

•

Nominal and ordinal

•

Ordinal and interval

•

Ratio and nominal

•

Interval and ratio

20

What is (are) the most widely used

measure(s) of dispersion?

•

Covariance and the correlation coefficient

•

Interquartile range

•

Variance and standard deviation

•

Range

21

Frequency distributions may be used to

describe which of the following types of data?

•

Nominal and interval data only

•

Nominal, ordinal, and interval data only

•

Nominal and ordinal data only

•

Nominal, ordinal, interval, and ratio data

22

A company wants to estimate the mean price

of oil over the past 10 years. What kind of data does the company need?

•

Descriptive statistics

•

Cross-sectional data

•

Time series data

•

Inferential statistics

23

What type of relationship is indicated in

the scatterplot?

•

A negative linear relationship

•

A positive linear or curvilinear

relationship

•

A negative curvilinear relationship

•

No relationship

24

Which of the following is most influenced

by outliers?

•

75th percentile

•

Mean

•

Mode

•

Median

25

Bias can occur in sampling. Bias refers to

_____________________.

•

the division of the population into

overlapping groups

•

the creation of strata, which are

proportional to the stratum's size

•

the use of cluster sampling instead of

stratified random sampling

•

the tendency of a sample statistic to

systematically over-or underestimate a population parameter

26

The

owner of a company has recently decided to raise the salary of one employee,

who was already making the highest salary, by 20%. Which of the following

is(are) expected to be affected by this raise?

•

Median only

•

Mean, median, and mode

•

Mean and median only

•

Mean only

27

The estimation of which of the following

requires sampling?

•

The Cleveland Indians' hitting percentage

in 2010

•

The average SAT score of incoming freshmen

at a university

•

U.S. unemployment rate

•

Total rainfall in Phoenix, Arizona, in 2010

28

Horizontal bar charts are constructed by

placing:

•

each interval of values on the vertical

axis and the appropriate range of values on the horizontal axis.

•

each category on the horizontal axis and

the appropriate range of values on the vertical axis.

•

each category on the vertical axis and the

appropriate range of values on the horizontal axis.

•

None of the Answers.

29

A

hedge fund returns on average 26% per year with a standard deviation of 12%.

Using the empirical rule, approximate the probability the fund returns over 50%

next year.

•

0.5%

•

1%

•

5%

•

2.5%

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