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• QNT 351 Final Exam Guide

• QNT 351 Final Exam Guide (New)

• 1) The main purpose of descriptive statistics is
  to
•  2) The general process of gathering, organizing,
  summarizing, analyzing, and interpreting data is
  called
•  3) The performance of personal and business
  investments is measured as a percentage, return
  on investment. What type of variable is return on
  investment?

• The Director of Golf for a local course wants to
  study the number of rounds played by members on
  weekdays. He gathered the sample information
  shown below for 520 rounds. At the .05
  significance level, is there a difference in the
  number of rounds played by day of the week?

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• QNT 351 Week 1 Connect Problems

• QNT 351 Week 1 DQ 1

• QNT 351 Week 1 Connect Problem
• 1. Which of the following is an example of a
  continuous variable?
• 2. The incomes of 50 loan applicants are
  obtained. Which level of measurement is income?
• 3. The members of each basketball team wear
  numbers on their jerseys. What scale of
  measurement are these numbers considered?

• Week 1 DQ1
•  
• Where would you see descriptive statistics used
  in your work place?

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• QNT 351 Week 1 DQ 2

• QNT 351 Week 1 DQ 3

• Week 1 DQ2
•  
• How would you define dependent and independent
  variables? What is their significance in
  research? Explain with examples.

• Week 1 DQ3
•  
• Develop five demographic questions to measure
  gender, age, years of experience, level of
  education, and ethnicity. Identify the level of
  measurement used for each

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• QNT 351 Week 1 DQ 4

• QNT 351 Week 1 DQ 5

• Week 1 DQ4
•  How would you define a variable? What is the
  difference between a dependent and independent
  variable? Do you think both variables are used in
  every research? Explain why or why not. Provide
  examples.

• Week 1 DQ5
•  What is the importance of statistics in business
  decision making? Describe a business situation
  where statistics was used in making a decision.

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• QNT 351 Week 1 DQ 6

• QNT 351 Week 1 Individual Assignment Statistics
  in Business

• Week 1 DQ6
•  What are the four data measurement scales?
  Provide two examples and explain the importance
  of each in business research.

• This tutorial contains 2 different Sets of papers
•  Define statistics.
•  Identify different types of statistics.
•  Describe the role of statistics in business
  decision making.
•  Write a 300-word summary providing at least
  three examples or problem situations in which
  statistics was used or could be used.

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• QNT 351 Week 2 Connect Problems

• QNT 351 Week 2 DQ 1

• QNT 351 Week 2 Connect Problem
• 1. The director of admissions at Kinzua
  University in Nova Scotia estimated the
  distribution of student admissions for the fall
  semester on the basis of past experience.
• a. What is the expected number of admissions for
  the fall semester?

• Week 2 DQ1
• Can mean, median, or mode be calculated from all
  statistical data? Explain why or why not. When is
  the mean the best measure of central tendency?
  When is the median the best measure of central
  tendency?

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• QNT 351 Week 2 DQ 2

• QNT 351 Week 2 DQ 3

• Week 2 DQ2
•  Describe a business situation, other than what
  has already been selected by fellow students or
  selected from the team assignment, where mean and
  standard deviation can be used in decision
  making. Describe how calculation of mean and
  standard deviation can help in making a decision.

• Week 2 DQ3
•  What level of data is a telephone number?
  Explain.

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• QNT 351 Week 2 DQ 4

• QNT 351 Week 2 DQ 5

• Week 2 DQ4
•  Does all data have a mean, median, or mode? Why
  or why not? When is the mean the best measure of
  central tendency? When is the median the best
  measure of central tendency?

• Week 2 DQ5
•  Why is the population shape a concern when
  estimating a mean? What effect does sample size,
  n, have on the estimate of the mean?

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• QNT 351 Week 2 Individual Assignment My StatsLab

• QNT 351 Week 2 Learning Team Assignment Data
  Collection (2 Sets)

• QNT 351 Week 2 Individual Assignment My StatsLab
  10 Problems
•   Week 2 Problems
•  1.Choose the correct answer bellow
•  A. It is an estimate or prediction or some other
  generalization about a population based on
  information contained in a sample

• This tutorial contains 2 different Sets of papers
•   Discuss with your team whether you have data
  from RES/351, and if your team would like to use
  one team members data for the Learning Team
  assignments in this course.
•  If using data from RES/351
•  Resources Data collected from RES/351

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• QNT 351 Week 3 Connect Problems

• QNT 351 Week 3 DQ 1

• Award 10 out of 10.00 points
• A sample of 43 observations is selected from a
  normal population. The sample mean is 30, and the
  population standard deviation is 3. Conduct the
  following test of hypothesis using the 0.05
  significance level.
• a. Is this a one- or two-tailed test?
  

• Week 3 DQ1
•  What are the differences between probability and
  coincidence? Can the probability be more than 1
  or less than 0? Explain why or why not.

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• QNT 351 Week 3 DQ 2

• QNT 351 Week 3 DQ 3

• Week 3 DQ2
•  What is the role of probability concepts in
  business decision-making? Provide specific
  examples.

• Week 3 DQ3
•  What are the basic differences between a
  discrete and a continuous distribution?

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• QNT 351 Week 3 DQ 4

• QNT 351 Week 3 Individual Assignment My StatsLab

• Week 3 DQ4
•  What are the characteristics of standard normal
  distribution? Explain how to calculate the z-test
  static. Explain how a z-value is used to
  calculate the area under the distribution and the
  meaning of P(0 to z) when z 1.96.

• Week 3 Problems
•  1. An industrial group reports that there were
  approximately 122,000 industrial robots operating
  in a region last year. The graph shows the
  percentages of industrial robot units assigned to
  each of six task categories.

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• QNT 351 Week 3 Individual Assignment Real Estate
  Data

• QNT 351 Week 3 Team Assignment Summarizing and
  Presenting Data

• Resources Appendix A1 at the end of Basic
  Statistics for Business and Economics
•  Answer question 68 in the Data Set Exercises
  from Ch. 3 of Basic Statistics for Business and
  Economics.
•  Answer question 34 in the Data Set Exercises
  from Ch. 4 of Basic Statistics for Business and
  Economics.

• Revise the report submitted in Week Two based on
  the feedback provided by the instructor in the
  team assignment, and insight gained by reading.
•  Summarize the data collected using descriptive
  statistics. Descriptive statistics should be in
  the forms of frequency distribution table,
  measures of mean, median, mode, standard
  deviation, and graphical display of data.

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• QNT 351 Week 4 DQ 1

• QNT 351 Week 4 DQ 2

• Week 4 DQ1
•  What are some terms related to hypothesis
  testing with which you are already familiar? Why
  do null and alternative hypotheses have to be
  mutually exclusive?

• Week 4 DQ2
•  Why does the significance level differ among
  industries? Will the null hypothesis be more
  likely to be rejected at a 0.01 than a 0.10?
  As the significance level increases to a 0.10
  from a 0.01, which type error is more likely to
  occur? What can be done to reduce the likelihood
  of incurring this error?

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• QNT 351 Week 4 DQ 3

• QNT 351 Week 4 DQ 4

• Week 4 DQ3
•  Please explain the five steps used in hypothesis
  testing. How does the five-step procedure for
  hypothesis testing differ when comparing two
  groups using a t- or z-test? How is the process
  similar?

• Week 4 DQ4
•  Please explain terms related to hypothesis
  testing please explain null and alternate
  hypotheses, explain the difference between two
  different test statistics, then define the
  equations used in both. Why do null and
  alternative hypotheses have to be mutually
  exclusive?

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• QNT 351 Week 4 Individual Assignment MyStatsLab

• QNT 351 Week 4 Individual Assignment Real Estate
  Data

• Week 4 Problems
•  1. Determine whether the random variable is
  discrete or continuous.
•  a. the number of textbook authors now sitting at
  a computer
•  b. the weight of a T-bone steak
•  c. the number of fish caught during a fishing
  tournament

• Resources Appendix A1 at the end of Basic
  Statistics for Business and Economics
•  Answer question 60 (both parts a. and b.) in the
  Data Set Exercises from Ch. 6 of Basic Statistics
  for Business and Economics.
•  Answer question 54 (both parts a. and b.) in the
  Data Set Exercises from Ch. 7 of Basic Statistics
  for Business and Economics.

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• QNT 351 Week 4 Learning Team Reflection (2 Sets)

• QNT 351 Week 5 Indivdiual Assignment MyStatsLab
  Problems

• Discuss the following with your Learning Team
•   The steps in testing a research hypothesis
• Comparing the means of two or more groups
• Calculating the correlation between two
  variables
•  Include the topics you feel comfortable with,
  any topics you struggled with, and how the weekly
  topics relate to application in your field.

• QNT 351 Week 5 Individual Assignment MyStatsLab
  Problems

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• QNT 351 Week 5 Individual Assignment Real Estate
  Data

• QNT 351 Week 5 Learning Team Assignment Analyzing

• Resources Appendix A1 at the end of Basic
  Statistics for Business and Economics
•  Answer question 58 in the Data Set Exercises
  from Ch. 10 of Basic Statistics for Business and
  Economics.
•  Answer question 62 in the Data Set Exercises
  from Ch. 13 of Basic Statistics for Business and
  Economics.

• Combine your Week Two Learning Team assignment
  and Week Three findings with Week Five findings
  and make a recommendation to the research
  problem.
•  Use the statistical tables given in the
  appendices of the textbook and a statistical
  analysis application a Microsoft Excel
  spreadsheet, Minitab statistical software, or
  SPSS software.

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