CQS 112
Final Exam Version A
Fall 2013
Name: _
Part I contains 50 questions to be answered in class. Please complete Part II (Excel Project) in
24hours, and email your answers to the instructor
Please read and sign the below the following statement:
I wil

A test was conducted to test the hypothesis that males pay higher monthly
car insurance premiums compared to females and the following output was
generated.
t-Test: Two-Sample Assuming Unequal Variances
Mean
Variance
Observations
Hypothesized Mean Differe

CHAPTER 10
HYPOTHESIS TESTS INVOLVING
A SAMPLE MEAN OR PROPORTION
SECTION EXERCISES
10.1 d/p/m The null hypothesis is a statement about the value of a population parameter. It is assumed
to be true unless we have evidence to the contrary. The alternative

Statistics for Management
Prof.Chatterji
HW #2
10/10/14
Chapter 5
5.4: P(A) = Number of outcomes/Total number of outcome
There is a 1/10 chanced that the right hand digit will be a 7.
5.6: This does not mean that the dice is loaded because according to th

Prof.Chatterji
11/4/13
Homework #4
Chapter 7
7.1
Continuous probability distribution is an infinite probability distribution used to find probability for a
continuous range of values. Discrete probability distribution is used to calculate probability for

Prof.Chatterji
Statistics for Management
HW # 8
11/23/14
Chapter 10:
10.8
The claim I nondirectional because it says, about 10% this results in us using a two-tail test in
which the hypothesis can be rejected from an extreme result in either direction.
10

Statistics for management
Prof. Chatterji
Homework # 1 (Chapter 2)
9/15/14
2.17
There are 10 data values in the $30,000 under $40,000 category. There are two portfolio values
at the extremes that seem especially low or high compared to the others which ca

Histograms
Breaks the range of values into intervals and counts how many
observations fall into each interval
From a data table, a histogram is created by plotting the intervals on the
X-axis, and showing the number of observations in each interval
(frequ

Simple Graphical Displays
o Pie Chart
Ex:
The pie chart puts emphasis on the variables relationship to the whole
o Bar Chart
Ex:
The bar chart puts emphasis on the variables relationship to each other
o A spin-off of both which combines the charts wit

Module 7: Sampling Distributions
Introduction
Sampling Variability sample results change from sample to sample
Parameter and Statistic
Parameter number that describes the population
Statistic number that is computed from the sample
(Population)
Paramet

Statistics for management
Prof. Chatterji
12/2/14
HW # 10
15.27
Regression line = 1.66,227, 473 + 64076803x
166,227,473 = constant
X = Number of dealers
For a dealership group consisting of 100 dealers, the point estimate for total revenue is
-166,227,473

Statistics
HW# 3
Prof.Chatterji
10/28/14
Chapter 6:
6.1: Random variables is described are considered random because unique numerical value with
every outcome of an experiment.
6.8:
Xi
P(Xi)
XiP(Xi)
$200,000
0.60
120,000
$120,000
0.40
48,000
Potential
Sal

Statistics for management
Prof. Chatterji
Homework # 1
9/15/14
1.18
a) It would be a ration scale because it can tell us about the order of the employees and can be
organized into range, median, mean, and mode.
b) The answer is interval scale because the

CHAPTER 9
ESTIMATION FROM SAMPLE DATA
SECTION EXERCISES
9.1 d/p/e A point estimate is a single number that estimates the value of the population parameter,
while an interval estimate includes a range of possible values which are likely to include the popu

CHAPTER 8
SAMPLING DISTRIBUTIONS
SECTION EXERCISES
8.1 d/p/m The sampling distribution of a statistic is a probability distribution of the sample statistic for all
possible samples of that particular size. Therefore, a sampling distribution is a probabili

CHAPTER 3
STATISTICAL DESCRIPTION OF DATA
SECTION EXERCISES
3.1 c/a/m x = 613.48/30 = $20.449. Median = $20.495, the average of the two values in the middle
when the data are arranged in order of size.
3.2 c/a/m x = 894/20 = 44.70 goals per season. Median

CHAPTER 7
CONTINUOUS PROBABILITY DISTRIBUTIONS
SECTION EXERCISES
7.1 d/p/e Discrete probability distributions can be expressed as histograms where the height of the
vertical bars is the probability for the various values that the random variable can take

CHAPTER 6
DISCRETE PROBABILITY DISTRIBUTIONS
SECTION EXERCISES
6.1 d/p/e A random variable is described as "random" because we don't know ahead of time exactly
what value it will have following the experiment.
6.2 d/p/m
a. Continuous. This is an exact mea

CHAPTER 5
PROBABILITY: REVIEW OF BASIC CONCEPTS
SECTION EXERCISES
5.1 d/p/m This is a subjective probability, since it represents the degree to which the president believes
that an event will occur.
5.2 d/p/m The sample space consists of two possible outc

CHAPTER 4
DATA COLLECTION AND SAMPLING METHODS
SECTION EXERCISES
4.1 d/p/e Primary data are generated by the researcher for the purpose of studying the problem at hand;
secondary data already exist and are not generated for the sole purpose of studying th

CHAPTER 1
A PREVIEW OF BUSINESS STATISTICS
SECTION EXERCISES
1.1 d/p/e In ancient times, statistics was mainly employed for counting people or possessions in order
to facilitate taxation.
1.2 d/p/m Statistical methods are useful in all facets of business

CHAPTER 2
VISUAL DESCRIPTION OF DATA
SECTION EXERCISES
2.1 d/p/e A frequency distribution is a table that divides the data values into classes and shows the
number of observed values that fall into each class. By summarizing and reporting data into a freq

CHAPTER 3
STATISTICAL DESCRIPTION OF DATA
SECTION EXERCISES
3.1 c/a/m x = 613.48/30 = $20.449. Median = $20.495, the average of the two values in the middle
when the data are arranged in order of size.
3.2 c/a/m x = 894/20 = 44.70 goals per season. Median

Statistics for management
11/9/14
Homework # 6
Chapter 8
8.42
Pie = .55
0.0287 (Obtained by the square root of 0.55 (1-.55) divided by 300)
0.60 0.55 / .0287 = Z = 1.74
1 0.9591 = .0409
About a 41% chance that at least 60% favor the candidate.
8.44
A) 0(0

Module 6: Random Variables
Introduction
Describing probabilities of all possible outcomes
All the possible outcomes are variable values to which we are assigning probabilities
These together make up a probability distribution
Focuses on quantitative v

Module 5: Introduction to Probability
What is Probability?
A mathematical description of randomness and uncertainty
Aka chance
*Probability is not always intuitive
The likelihood of something occurring
o If chances are good, then probability is high
o

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