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For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com Q1 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? – PowerPoint PPT presentation

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Title: QNT 351 Education Begins/newtonhelp.com


1
QNT 351 Education Begins/newtonhelp.com
2
QNT 351 Final Exam Guide (New)
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  • Q1
  • 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?
  • 2An auditor for American Health Insurance
    reports that 20 of policyholders submit a claim
    during the year. 15 policyholders are selected
    randomly. What is the probability that at least 3
    of them submitted a claim the previous year?

3
QNT 351 Final Exam Guide (New, 2018) Score 30/30
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  • QNT 351 Final Exam Guide (New, 2018) Score 30/3
  • The mean amount spent by a family of four on
    food is 500 per month with a standard deviation
    of 75. Assuming that the food costs are normally
    distributed, what is the probability that a
    family spends less than 410 per month?
  • 0.1151
  • 0.0362
  • 0.8750
  • 0.2158
  • As the size of the sample increases, what
    happens to the shape of the distribution of
    sample means?
  • It cannot be predicted in advance.
  • It is negatively skewed.
  • It approaches a normal distribution.
  • It is positively skewed.

4
QNT 351 Final Exam Guide
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  • 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?
  • 4) What type of variable is the number of
    robberies reported in your city?
  • 5) What level of measurement is the number of
    auto accidents reported in a given month?

5
QNT 351 Week 1 Connect Problems
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  • 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?
  • 4. The reported unemployment is 5.5 of the
    population. What measurement scale is used to
    measure unemployment?
  • 5. The Nielsen Ratings break down the number of
    people watching a particular television show by
    age. What level of measurement is age?

6
QNT 351 Week 1 DQ 1
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  • Week 1 DQ1
  • Where would you see descriptive statistics used
    in your work place?

7
QNT 351 Week 1 DQ 2
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  • Week 1 DQ2
  • How would you define dependent and independent
    variables? What is their significance in
    research? Explain with examples.
  • Related Tutorials

8
QNT 351 Week 1 DQ 3
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  • 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

9
QNT 351 Week 1 DQ 4
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  • 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.

10
QNT 351 Week 1 DQ 5
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  • 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.

11
QNT 351 Week 1 DQ 6
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  • Week 1 DQ6
  • What are the four data measurement scales?
    Provide two examples and explain the importance
    of each in business research.

12
QNT 351 Week 1 Individual Assignment Statistics
in Business (2 Sets)
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  • This tutorial contains 2 different Sets of papers
  • Define statistics.
  • Identify different types of statistics.
  • Describe the role of statistics in business
    decision making.

13
QNT 351 Week 1 Introduction to Statistical
Thinking Worksheet
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  • Complete the Introduction to Statistical Thinking
    Worksheet.
  • Format your assignment consistent with APA
    guidelines.
  • Click the Assignment Files tab to submit your
    assignment.
  • There are 23 people at a party. Explain what the
    probability is that any two of them share the
    same birthday.

14
QNT 351 Week 2 Connect Problems
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  • 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?
  • b. Compute the variance and the standard
    deviation of the number of admissions.
  • 2. The Internal Revenue Service is studying the
    category of charitable contributions

15
QNT 351 Week 2 DQ 1
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  • 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?

16
QNT 351 Week 2 DQ 2
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  • 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.

17
QNT 351 Week 2 DQ 3
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  • Week 2 DQ3
  • What level of data is a telephone number? Explain.

18
QNT 351 Week 2 DQ 4
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  • 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?

19
QNT 351 Week 2 DQ 5
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  • 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?

20
QNT 351 Week 2 Excel Problem Graphical Technique
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  • Question 1
  • Plot a 100 stacked column chart for television
    sales by year.
  • U.S. Television Sales, 2002 - 2005 ( thousands)
  • Projection TV LCD TV Plasma TV
  • 2002 3,574 246 515
  • 2003 4,351 664 1,590
  • 2004 6,271 1,579 2,347

21
QNT 351 Week 2 Learning Team Assignment Data
Collection (2 Sets)
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  • 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
  • Prepare a 700- to 1,050-word written report
    along with a 5- to 7-slide Microsoft PowerPoint
    presentation for the senior management team or
    stakeholders of your RES/351 research project to
    present your findings.
  • Address the following
  • Present the chosen situation as an
    overviewproblem, purpose, research questions,
    and hypotheses.

22
QNT 351 Week 2 Probability Worksheet
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  • Complete the Probability Worksheet.
  • Format your paper consistent with APA guidelines.
  • Click the Assignment Files tab to submit your
    assignment.
  • Maximum and Minimum Temperatures
  • Search the Internet for U.S. climate data.
  • Choose the city in which you live.
  • Click on the tab that reads Daily.

23
QNT 351 Week 2 Team Assignment Descriptive
Statistics Real Estate Data Part 1 (New)
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  • Search the Internet for a realty site.
  • Select a hometown of someone on your team in the
    search section on the website you have chosen.
    When all of the listings populate, make sure that
    the sort criteria reads "New Listings." This
    ensures that you are searching a random
    cross-section of listings rather than favoring
    one price range.
  • Review the new listings that populate.

24
QNT 351 Week 3 Connect Problems
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  • 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?
  • b. What is the decision rule? (Round your
    answer to 3 decimal places.)
  • c. What is the value of the test
    statistic? (Round your answer to 2 decimal
    places.)
  • d. What is your decision regarding H0?
  • e. What is the p-value? (Round your
    answer to 4 decimal places.)

25
QNT 351 Week 3 DQ 1
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  • 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.

26
QNT 351 Week 3 DQ 2
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  • Week 3 DQ2
  • What is the role of probability concepts in
    business decision-making? Provide specific
    examples.

27
QNT 351 Week 3 DQ 3
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  • Week 3 DQ3
  • What are the basic differences between a discrete
    and a continuous distribution?

28
QNT 351 Week 3 DQ 4
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  • 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.

29
Qnt 351 Week 3 Excel Problems Measuring
Salespeople Performance
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  • Week A B C D
  • 1 1774 2205 1330 1402
  • 2 1808 1507 1295 1665
  • 3 1890 2352 1502 1530
  • 4 1932 1939 1104 1826
  • 5 1855 2052 1189 1703
  • 6 1726 1630 1441 1498
  • Interpretation of Minimum and Maximum

30
QNT 351 Week 3 Individual Assignment Real Estate
Data
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  • 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.

31
QNT 351 Week 3 Individual Assignment Real Estate
Data
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  • Use the real estate data that you used for your
    learning team project that was due in Week 2.
  • Complete the Sampling Distributions - Real Estate
    Part 2 worksheet.
  • Format your assignment consistent with APA
    guidelines.
  • Click the Assignment Files tab to submit your
    assignment.
  • Review the data and for the purpose of this
    project please consider the 100 listing prices as
    a population.

32
QNT 351 Week 3 Team Assignment Summarizing and
Presenting Data (2 Sets)
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  • If using RES/351 data
  • 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.
  • Summarize the statistics in relation to the
    problem selected and research questions and draw
    conclusions.
  • Prepare a 1,050- to 1,750-word report of
    conclusions drawn from the data and make
    recommendations to the management.

33
QNT 351 Week 4 Connect Problems
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  • QNT 351 Week 4 Connect Problem
  • The Production department of Celitronics
    International wants to explore the relationship
    between the number of employees who assemble a
    subassembly and the number produced. As an
    experiment, 2 employees were assigned to assemble
    the subassemblies. They produced 13 during a
    one-hour period, then 4 employees assembled them.
    They produced 22 during a one hour period. The
    complete set of paired observation follows
  • The dependent variable is production that is, it
    is assumed that different levels of production
    result from a different number of employees.
  • A scatter diagram is provided below. Based on it,
    does there appear to be any relationship between
    the number of assemblers and production?
  • Compute the correlation coefficient.

34
QNT 351 Week 4 DQ 1
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  • 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?

35
QNT 351 Week 4 DQ 2
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  • 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?

36
QNT 351 Week 4 DQ 3
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  • 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?

37
QNT 351 Week 4 DQ 4
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  • 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?

38
QNT 351 Week 4 Excel Problems Measures of
Relative Standing and ProbabilityDistribution
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  • Problem 1
  • Figure below gives the boxplots comparing the
    base yearly salaries of employeesin marketing and
    employees in research for a large company.
    Identify the five number summaries. for each
    profession. Interpret them like we did in the
    class.
  • Problem 2
  • An insurance company determines that in every 100
    claims, 4 are fraudulent. What is the probability
    that the next claim the company processes will be
    fraudulent?
  • Problem 3
  • A review of emergency room records at rural
    Millard FellmoreMemorial Hospital was performed
    to determine the probability distribution of the
    number of patients entering the emergency room
    during a 1-hour period. The following table lists
    this probability distribution.

39
QNT 351 Week 4 Individual Assignment Real Estate
Data
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  • 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.

40
QNT 351 Week 4 Learning Team Reflection (2 Sets)
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  • QNT 351 Week 4 Learning Team Reflection
  • This tutorial contains 2 different sets
  • 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

41
QNT 351 Week 4 Two Population Means Worksheet
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  • A tomato farmer with a very large farm of
    approximately 2200 acres had heard about a new
    type of rather expensive fertilizer which would
    supposedly significantly increase his production.
    The frugal farmer wanted to test the new
    fertilizer before committing the large investment
    required to fertilize a farm of his size. He
    therefore selected 15 parcels of land on his
    property and divided them each into two portions.

42
QNT 351 Week 5 Individual Assignment Real Estate
Data
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  • 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.

43
QNT 351 Week 5 Learning Team Assignment
Analyzing and Interpreting Data Paper and
Presentation
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  • If using RES/351 data
  • Ask your instructor for specific information
    regarding the analysis you are required to
    perform for your data set.
  • 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.

44
QNT 351 Week 5 Team Assignment Real Estate
Regression Exercise (New)
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  • Complete the Real Estate Regression Exercise.
  • Format your paper consistent with APA guidelines.
  • Click the Assignment Files tab to submit your
    assignment.
  • You are consulting for a large real estate firm.
    You have been asked to construct a model that can
    predict listing prices based on square footages
    for homes in the city youve been researching.
    You have data on square footages and listing
    prices for 100 homes.
  • Which variable is the independent variable (x)
    and which is the dependent variable (y)?

45
QNT 351 Education Begins/newtonhelp.com
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