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QNT 351 WEEK 1 Introduction to Statistical Thinking
Introduction
to Statistical Thinking Worksheet
Complete
the Introduction to Statistical Thinking Worksheet.
Format your assignment consistent with APA
guidelines.
Click the Assignment Files tab to submit your
assignment.
University of
Phoenix Material
INTRODUCTION TO
STATISTICAL THINKING
Directions:
Complete the following questions. The most important part of statistics is the
thought process, so make sure that you explain your answers, but be careful
with statistics. The following statistics/probability problems may intrigue you
and you may be surprised. The answers are not always as you might think. Please answer them as well as you can by
using common logic.
There
are 23 people at a party. Explain what the probability is that any two of them
share the same birthday.
A
cold and flu study is looking at how two different medications work on sore
throats and fever. Results are as follows:
Sore
throat - Medication A: Success rate - 90% (101 out of 112 trials were
successful)
Sore
throat - Medication B: Success rate - 83%
(252 out of 305 trials were successful)
Fever
- Medication A: Success rate - 71% (205
out of 288 trials were successful)
Fever
- Medication B: Success rate - 68% (65 out of 95 trials were successful)
Analyze
the data and explain which one would be the better medication for both a sore
throat and a fever.
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Answer: - https://tinyurl.com/y9eskypa
QNT 351 WEEK 2 Descriptive Statistics – Real Estate Data Part 1
Descriptive
Statistics – Real Estate Data Part 1
Create an Excel® spreadsheet with the real
estate data from the Individual Homework.
Prepare
a frequency distribution for listing prices, including relative frequencies.
Create
your frequency distribution as identified in Chapters 2, 3, and 4.
Create
either a pie chart or a bar graph of the number of bedrooms in your 100 homes.
Evaluate
your visual aid.............................................................................
Calculate
measures of central tendency for both listing prices and square footages. Those
measures are mean, median, and mode. ..........................................
Also
calculate the standard deviation and variance for housing prices. What do you conclude about the housing prices
based on your data?
What
is the range of housing prices? Does the
range explain anything? .
Conclude
whether Chebyshev's or Empirical Rule is more accurate with each of listing
prices and square footages.
Format
your assignment consistent with APA guidelines.
Click
the Assignment Files tab to submit your assignment.
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QNT 351 WEEK 3 Sampling Distributions – Real Estate Part 2
Sampling
Distributions – Real Estate Part 2
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.
University of
Phoenix Material
Sampling
Distributions – Real Estate Part 2
Directions:
Use the real estate data you used for your Week 2 learning team assignment.
Analyze the data and explain your answers.
Review
the data and for the purpose of this project please consider the 100 listing
prices as a population.
Explain
what your computed population mean and population standard deviation
Divide
the 100 listing prices into 10 samples of n=10 each. Each of your 10 samples
will tend to be random if the first sample includes houses 1 through 10 on your
spreadsheet, the second sample consists of houses 11 through 20, and so on.
Compute
the mean of each of the 10 samples and list them:
Compute
the mean of those 10 means.
Explain
how the mean of the means is equal, or not, to the population mean of the 100
listing prices from above.
Compute
the standard deviation of those 10 means and compare the standard deviation of
the 10 means to the population standard deviation of all 100 listing prices.
Explain
why it is significantly higher, or lower, than the population standard
deviation.
Explain
how much more or less the standard deviation of sample means was than the
population standard deviation. According to the formula for standard deviation
of sample means, it should be far less. (That formula is σ = σ/√n =
σ/√10 = σ/3.16 ) Does
your computed σ agree with the formula?
According
to the Empirical Rule, what percentage of your sample means should be within 1
standard deviation of the population mean? Using your computed σ, do your sample means seem to
conform to the rule?
According
to the Empirical Rule, what percentage of your sample means should be within 2
standard deviations of the population mean? Again, do your sample means seem to
conform to the rule?
You
used the Empirical Rule because it really gives us more information (and
because I asked you to), but truthfully you should have used Chebyshev’s
Theorem. Even though Chebyshev’s doesn’t tell us much, why should you have used
that one instead?
The
United States employed a statistician to examine damaged planes returning from
bombing missions over Germany in World War II. He found that the number of
returned planes that had damage to the fuselage was far greater than those that
had damage to the engines. His
recommendation was to enhance the reinforcement of the engines rather than the
fuselages. If damage to the fuselage was
far more common, explain why he made this recommendation.
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Answer: - https://tinyurl.com/y75lyy8w
QNT 351 Week 4 Problems
A
nylon rope maker claims its repelling rope's average breaking strength is at
least 800 pounds. A researcher sets up a
hypothesis test regarding the breaking strength of the rope where Ho: μ ≤
800. where α = .05.
Rewrite
his null and alternative hypotheses as complete sentences. What does the
hypothesis suggest about where the benefit of the doubt is being placed? Explain your answer.
What
does it mean to make a type I error, and, specifically, what would constitute a
type one error in this case?
In
this case, is it appropriate to use α =
.05? Explain why or why not.
what
would we conclude if the sample average was much larger than 800 pounds?
what
would we conclude if the sample average was slightly less than 800 pounds?
what
if the sample average is much less than 800?
2,
Pennsylvania Governor Tom Ridge has a
longstanding reputation for being "tough on crime." His opponent is currently running ads that
dispute this. Before Ridge took office,
the average criminal spent 12.5 years in prison before parole. Ridge's opponent says that a random sample of
forty-nine recent parolees spent an average of only eleven years in prison (the
standard deviation in the sample was fourteen years). Assuming you work for an independent
newspaper, evaluate the claim made by the Ridge opponent. What would you report to your readers? Test
at the 05 percent level of significance.
Using
the last problem calculate the 95 percent confidence interval. Interpret this interval.
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Answer: - https://tinyurl.com/yabt4jao
QNT 351 Week 5 Real Estate Regression Exercise
Real
Estate Regression Exercise
Complete
the Real Estate Regression Exercise.
This will be completed in class with your Learning Teams. Each Learning Team will be required to
present their results to the class.
University
of Phoenix Material
Real Estate Regression Exercise
Directions: Use the real estate data you used
for your Week 2 learning team assignment. Analyze the data and explain your
answers.
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 you’ve 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)?
Click
on any cell. Click on Insert→Scatter→Scatter with markers (upper left).
To
add a trendline, click Tools→Layout→Trendline→Linear Trendline
Does
the scatterplot indicate observable correlation? If so, does it seem to be strong or weak?
In
what direction?
Click
on Data→Data Analysis→Regression→OK. Highlight your data (including your two
headings) and input the correct columns into Input Y Range and Input X Range,
respectively. Make sure to check the box
entitled “Labels”.
What
is the Coefficient of Correlation between square footage and listing price?
Does
your Coefficient of Correlation seem consistent with your answer to #2 above?
Why or why not?
What
proportion of the variation in listing price is determined by variation in the
square footage? What proportion of the variation in listing price is due to
other factors?
Check
the coefficients in your summary output. What is the regression equation
relating square footage to listing price?
Test
the significance of the slope. What is your t-value for the slope? Do you
conclude that there is no significant relationship between the two variables or
do you conclude that there is a significant relationship between the variables?
Using
the regression equation that you designated in #3(d) above, what is the
predicted sales price for a house of 2100 square feet?
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Answer: - https://tinyurl.com/yavtkmfc
QNT 275 Statistics for Decision Making
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QNT 275 WEEK 1 QUIZ
Cross-section data are
collected:
on different elements for the
same variable for different periods of time
on different elements at the
same point in time
for a qualitative variable
on the same variable for the
same variable at different points in time
A simple random sample is a
sample drawn in such a way that:
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QNT 275 WEEK 1 Statistics in Business
Statistics in Business
Purpose of Assignment
The purpose of this assignment is
to have students demonstrate mastery of the foundational concepts that set the
stage for the remainder of the course. Students apply those concepts to
business research questions or problem situations to focus their thinking on
statistical literacy for use in business decision-making.
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QNT 275 WEEK 2 QUIZ
We obtain the percentage of a
category by:
multiplying the frequency of
that category by 100
dividing the frequency of that
category by 100
multiplying the relative
frequency of that category by 100
Read More: - https://tinyurl.com/y9vthfcq
QNT 275 WEEK 3 QUIZ
Which of the following is not a
characteristic of the normal distribution?
The curve is symmetric about the
mean
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QNT 275 WEEK 5 Business Problem
Business Problem
Hypothetical Business Problem
Hypothetical Business Problem:
You are hired as a consultant for a large auto dealership organization. Your
job is to look at their customer satisfaction surveys over the past 5 years and
based on your analysis of that data, present recommendations to the senior
management. Assume the data indicates a declining trend on the customer satisfaction
rates.
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QNT 275 Week 4 Practice Set Latest 2017 Version
1. Find z for each of the
following confidence levels. Round to two decimal places.
90%
95%
96%
97%
98%
99%
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QNT 275 Week 5 Practice Set
2. Find the value of x2 for 12
degrees of freedom and an area of .025 in the right tail of the chi square
distribution curve. What is the value of chi-square? Round to three decimal
places
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QNT 275 Week 1 Practice Set
2. Indicate which of the
following variables are quantitative and which are qualitative.
Note:
Spell quantitative and
qualitative in lower case letters.
The amount of time a student spent studying
for an exam
The amount of rain last year in 30 cities
The arrival status of an airline flight
(early, on time, late, canceled) at an airport
A person's blood type
The amount of gasoline put into a car at a
gas station
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