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Unformatted text preview: CHAPTER 2 TEST QUESTION Question 1: Score 1/1 Which of the following is a quantitative variable? Your Answer: Choice Selected Mileage of a car A person's gender Whether a person is a college graduate The make of a TV Whether a person has a charge account A sequence of operations that takes inputs and turns them into outputs is a process (100%). Supplementary Exercise 1.34 Figure 1.12 gives a runs plot of the Cleveland Indians winning percentages from 1915 (when the team was renamed as the Indians) to 2004. Many longtime Indians fans believe that the April 1959 trade of Rocky Colavito, a feared homerun hitter, for Detroits Harvey Kuehn, a good average hitter without exceptional power, sent the team into a decline that lasted more than 30 years. Does the runs plot provide any evidence to support this opinion? Why or why not? Yes . Pre1959 level of wins appears higher than post1959 level of wins. E1.15 METHODS AND APPLICATIONS The data below give 18 measurements of a critical dimension for an automobile part (measurements in inches). Here one part has been randomly selected each hour from the previous hours production, and the measurements are given in time order. Hour Measurement Hour Measurement 1 3.005 10 3.005 2 3.020 11 3.015 3 2.99 12 2.994 4 3.015 13 3.020 5 2.995 14 3.000 6 3.010 15 2.990 7 3.000 16 2.984 8 2.984 17 3.020 9 3.025 18 2.984 Construct a runs plot and determine if the process appears to be in statistical control. The measurements appear to be in control because there is reasonably constant variation at a horizontal level. Exercise 2.79 Suppose that a company's sales were $772,000 3 years ago and are $4,632,000 at the end of the 3 years. Find the geometric mean growth rate of sales. Round answer to 4 decimal places. The geometric mean growth rate of sales is 0.8171 with a tolerance of 0.005 . Exercise 2.47 On its website, the Congress Journal newspaper (Westerly, Oregon, 2005) reports mortgage loan interest rates for 30year and 15year fixedrate mortgage loans for a number of Willamette Valley lending institutions. Of interest is whether there is any systematic difference between 30 year rates and 15year rates (expressed as annual percentage rate or APR) and, if there is, what is the size of that difference. The following table displays the 30year rate and the 15year rate for each of nine lending institutions. Also given is the difference between the 30year rate and the 15year rate for each lending institution. To the right of the table are given sidebyside MINITAB boxandwhiskers plots of the 30year rates and the 15year rates and a MINITAB boxandwhiskers plot of the differences between the rates. Use the boxandwhiskers plots to compare the 30year rates and the 15year rates. Also, calculate the average of the differences between the rates....
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This note was uploaded on 06/13/2008 for the course STATS 502 taught by Professor Vinaja during the Spring '08 term at Texas A&M University–Commerce.
 Spring '08
 Vinaja

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