Minitab Project 1

Minitab Project 1 - as a random sample from a population...

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Minitab Project 1 1. What is the business problem DKF was experiencing? People are paying late in relation to the industry average 2. What is the target population? The target population is the paid customer’s invoices which is 8500. We make an assumption that current and future customers will all take the same time to pay. 3. Use Minitab to generate the random sample of the 55 invoices In column C1 4. Is the sample you get the same as the sample I got in class? No 5. Is your sample likely to be representative? Yes because we took a random sample, so there is a high probability that it will be representative 6. The consulting firm found that 55 payment times in their random sample behave
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Unformatted text preview: as a random sample from a population that is uniform on the integers from 15 to 34 days. Use Minitab to generate a random sample from a uniform population on the integers ranging from 15 to 34 days. In column C2 7. Draw the probability function of the uniform population in question 6 8. If I randomly chose a number from the above uniform population, what is the probability that the number is 17? 1/20 9. What are the chances that the number 17 will not be in the sample you will draw for question 6? (19/20) 55 10. What are the chances that the number 17 will appear exactly 5 times in the sample you will draw for question 6? (1/20) 5 * (19/20) 50...
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This note was uploaded on 02/23/2010 for the course BUAD 310 at USC.

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