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

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

CQS 112
HW 9
9.41:
95% confidence interval for the population mean is 14.65-15.35 pairs of shoes. This
means that the population mean could not be 13.2.
9.47:
p z = .48 1.96 or .449-.511
9.40:
The 99% confidence interval for the population mean is $2827.2

CQS112
HW7
8.14:
p .10=z
.1.2
=z 2.5=1.0062=.9938
.04
Null Hypothesis:
H0: 1= 2
H1: 1 2
(H0) represents belief that every year had the same average stock performance
(H1) represents the opposing argument to the current belief, that they are not equal
The

CQS 112
HW4
5.64:
a) P(A)=.28
b) P(A or B)=P(A)+P(B)-P(AB)
P(A or B)=(.81)+(.7)-(.81*.7)
P(A or B)=1.51-.567
P(A or B)=.943
c) P(AB)*P(CB)*P(DB)
(1-0.28)*(1-0.13)*(1-0.12)
(.72)*(.87)*(.88)=.551
d) P(AB)*P(CB)*P(DB)
(0.81)*(0.70)*(1-0.85)=.085
e) P(A and

CQS112
Homework #3
4.55:
1. How many times a week do you read the Wall Street journal?
a. zero
b. one to two
c. three to four
d. five or more
2. Do you like the layout of the Wall Street Journal?
a. yes
b. no
3. If you could change the Journal, what conte

Null Hypothesis:
H0: 1= 2
H1: 1 2
(H0) represents belief that every year had the same average stock performance
(H1) represents the opposing argument to the current belief, that they are not equal
The level of significance used for this test is =0.05 . Wh

CQS 112-Test One
Chapter One
Vocab
Business Statistics: The collection, summarization, analysis, and reporting of numerical
findings relevant to a business decision or situation
Practitioner in Statistics: someone who collects, analyzes, and presents find

CQS 112
HW 2
Exercises
3.65:
a. see attached excel sheet
b. see attached excel sheet
c. There are three outlier households, two on the low end and one on the high end. To
eliminate the outliers, energy officials should examine the households.
3.66
a. see

Chapter 1 A Preview of Business Statistics
1. Business statistics can be described as the collection, summarization, analysis, and
reporting of numerical findings relevant to a business decision or situation.
2. Descriptive statistics: simply describing t

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

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

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
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

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

13.
A study was conducted of the 12-month earnings per share for two categories of airline companies.
Based on the above data, which of the following statements is correct?
a.
The large airlines have a coefficient of variation of 2.44 while the small airl

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 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

CQS 112 (03, and 04): Statistical Analysis for Management
(Spring 2016)
Table of Contents
Statistical Analysis for Management.2
Instructor:.2
Class Venue and Time:.2
Office Hours:.2
Workload Expectations:.2
Enrolling into the Course:.2
Class Details.

CQS 112
Sample Final Exam
100 points
Name: _
By signing below, I attest that I have not assisted anyone, nor have I accepted assistance from anyone, in the
matter of this examination.
I am aware that the penalty of any false statement on my part in this m

CQS 112
Sample Final Exam
100 points
Name: _
By signing below, I attest that I have not assisted anyone, nor have I accepted assistance from anyone, in the
matter of this examination.
I am aware that the penalty of any false statement on my part in this m

Quantitative variables take numerical values, and represent some kind of measurement
Categorical variables take category or label values, and place an individual into one of several groups.
Bimodalit has two modes Unimodalit has one mode
Variability- of t

Data Any observation that has been collected
Statistics- Collect, Analyze, Summarized, Interpret, and draw conclusion from data.
Population- The complete set of element being studied.
Sample- Some subset of population (Has to collected randomly)
Census- C