Statistics for Business Control & Regression/Forecasting Models
STATUB 103

Spring 2014
Assignment 1
1.
MBS 3.126 page 169
A
0.0375
.0083
0.0458
0.7125
R
B
0.2417
0.9542
0.75
0.25
1
Or
2. A municipal bond service has three rating categories (A, B, and C) and is issued by
city or suburbs. Suppose that 70% of all the issued bonds were A rated,
Handout assignment III
Due date 2/27/14
1. A survey by KRC research for U.S News reported that 37% of people plan to spend
more on eating out after they retire. If eight people are randomly selected, determine the
following probabilities.
a). Exactly five
Exam 1
1. A fastfood restaurant monitors its drivethru service times electronically to ensure that its
speed of service is meeting the companys goals. A sample of 28 drivethru service times
was taken and the stemandleaf display below;
1
6
9
12
14
14
STATISTICS FOR BUSINESS CONTROL AND REGRESSION MODELS
STATUB 103

Fall 2014
STATUB.0103.04
Prof. Frydman
November 21, 2014
Solutions to Class exercise: a)e)
The Wall Street Journal (December 30, 1984) published the data set
containing information on starting salary and height of 30 randomly selected
male MBA graduates of the Un
Statistics for Business Control & Regression/Forecasting Models
STATUB 103

Spring 2014
Assignment 2
1. The director of publications for a university is in charge of deciding how many programs to
print for football games. Based on the data, the director has estimated the following probability
distribution for the random variable X= number of
Statistics for Business Control & Regression/Forecasting Models
STATUB 103

Spring 2014
Handout assignment IV
Due date 3/14 /14
1. A bank has determined that the monthly balances of the saving accounts of its
customers are normally distributed with an average balance of $1,200 and standard
deviation of 250. If a sample of 36 customers is sel
STATISTICS FOR BUSINESS CONTROL AND REGRESSION MODELS
STATUB 103

Fall 2014
STATUB.0103 Statistics for Business Control and Regression Models
Prof. Frydman
December 17, 2013
Final Exam (A)
(Show all of your work)
Happy Holidays!
The questions in Problems 1) and 2) below should be answered using
information in minitab output tha
1.
A bank has determined that the monthly balances of the saving accounts of its customers
are normally distributed with an average balance of $1,200 and standard deviation of 250.
If a sample of 36 customers is selected,
a. What is the probability that t
Handout assignment I
Due date: 9/13/2013
1. MBS 2.24 page 49
Solution for Handout 1
1.
Use Minitab
Or you can use Box plots
a.
Box pl ot of Va l ue
800
900
1000
1100
1200
1300
Va lue
1400
1500
1600
1700
b.
Box pl ot of Cha nge 1 Y r
0
5
10
Cha nge 1 Y r
1
1.
R
A
0.0375
0.7125
0.75
B
.0083
0.2417
0.25
0.0458
0.9542
1
Or
2.
Elementary Event
Event 1
Event 2
Event 3
Event 4
Bond1
A
A
A
A
Bond 2
A
A
B
B
Bond 3
A
B
C
A
Event 5
Event 6
Event 7
Event 8
Event 9
Event 10
Event 11
Event 12
Event 13
Event 14
Event 15
1. A survey by KRC research for U.S News reported that 37% of people plan to spend more
on eating out after they retire. If eight people are randomly selected, determine the
following probabilities.
a). Exactly five people plan to spend more on eating out
Handout assignment III
Due date 2/24/15
1. A survey by KRC research for U.S News reported that 37% of people plan to spend
more on eating out after they retire. If eight people are randomly selected, determine the
following probabilities.
a). Exactly five
Exam 1 handout
1. A commercial refrigerator specification calls for an average temperature of 8 degrees Celsius.
You have been asked to conduct a study to estimate the population mean for a commercial
refrigerator. To do this, you have selected a random s
STATISTICS FOR BUSINESS CONTROL AND REGRESSION MODELS
STATUB 103

Fall 2014
STATUB.0103.04
Prof. Frydman
October 16, 2014
Solutions to Quiz 2 (A)
(9) 1) An aerospace company has submitted bids on two separate federal
government defense contracts, A and B. The company estimates that it has
a 60% chance of winning contract A and a
Statistics for Business Control Regression and Forecasting Models
STATUB 103

Fall 2014
STATUB.0103 Statistics for Business Control and Regression Models
Prof. Frydman
December, 2013
Solutions to Final Exam (A)
1) In order to investigate the feasibility of starting a Sunday edition for
a large metropolitan newspaper, information was obtain
Statistics for Business Control Regression and Forecasting Models
STATUB 103

Fall 2014
STATUB.0103.04
Prof. Frydman
November 4, 2014
Solutions to Quiz 3 (B)
(6) Q1) A random sample of 49 New York City (NYC) hotels showed
the mean cost per night of a hotel room to be $273 with the sample standard
deviation of $84.
(2) a) Construct and inter
Statistics for Business Control Regression and Forecasting Models
STATUB 103

Fall 2014
STATUB.0103.04
Prof. Frydman
October 16, 2014
Solutions to Quiz 2 (B)
1) The wooden sailboats are built in two small shipyards. The number
of boats constructed per month in shipyard A, denote it by X, is distributed
as
0
1
() 05 05
and the number of boat
Handout assignment I
Due date: 2/11/2014
1. MBS 2.24 page 49
Use Minitab
2. A fastfood restaurant monitors its drivethru service times electronically to
ensure that its speed of service is meeting the companys goals. A sample of
28 drivethru times was
STATISTICS FOR BUSINESS CONTROL AND REGRESSION MODELS
STATUB 103

Fall 2014
STATUB.0103.04
Prof. Halina Frydman
November 25, 2014
Solutions to Quiz 4 (A)
(6) Q1) A certain dealership estimated the following daily distribution
of the number of sold cars
0
1
2
3
( ) 02 04 03 01
(3) a) Suppose that in a random sample of 100 daily s
Exam 1
1. A fastfood restaurant monitors its drivethru service times electronically to ensure that its
speed of service is meeting the companys goals. A sample of 28 drivethru service times
was taken and the stemandleaf display below;
1
6
9
12
14
14
Handout assignment IV
Due date 3/14 /14
1. A bank has determined that the monthly balances of the saving accounts of its customers
are normally distributed with an average balance of $1,200 and standard deviation of 250.
If a sample of 36 customers is sel
Statistics for Business Control & Regression/Forecasting Models
STATUB 103

Spring 2014
Handout assignment VII
Due date 11/26/13
1. A manufacturing company is interested in predicting the number of defects that will be produced each
hour on the assembly line. The managers believe that there is a relationship between the defect rate and
the p
STATUB.0103 Statistics for Business Control and Regression Models
Prof. Frydman
October 16, 2013
Homework 5
(due October 21)
Reading: Chapter 4: 4.54.6, 4.9 (about Uniform distribution only)
from MBS
Lecture Notes #4 on The Normal Distribution
Exercise
STATUB.0103 Statistics for Business Control and Regression Models
Prof. Frydman
September 12, 2013
Homework 2
(Due date: September 19)
Reading: Chapter 2, Sections 2.12.8 from MBS
Class Notes: Introduction and basic Methods for Describing the Data (all
Statistics for Business Control Regression and Forecasting Models
STATUB 103

Fall 2014
STATUB.0103.04
Prof. Halina Frydman
October 12, 2014
Homework 4
(due October 21)
Reading: Chapter 4: 4.54.6, 4.9 (about Uniform distribution only)
from MBS
Lecture Notes #4 on The Normal Distribution
Exercises: 4.108 page 235 from MBS and the following
STATISTICS FOR BUSINESS CONTROL AND REGRESSION MODELS
STATUB 103

Fall 2014
STATUB.0103 Statistics for Business Control and Regression Models
Prof. Frydman
December, 2013
Solutions to Final Exam (A)
1) In order to investigate the feasibility of starting a Sunday edition for
a large metropolitan newspaper, information was obtain
STATISTICS FOR BUSINESS CONTROL AND REGRESSION MODELS
STATUB 103

Fall 2014
STATUB.0103.04
Prof. Halina Frydman
September 19, 2014
Solutions to Quiz 1(A)
(8) 1) An automobile manufacturer routinely keeps records on the number of finished
cars (passing all inspections) produced per eight hour shift. The data for the last 21
shift
Homework VI
Due date: 4/4/2014
1. Two placement exams are available that students can take to determine which math class they should
begin with in their freshman year. It is believed that there is no difference in the mean scores that would
be received fo
STATUB.0103 Statistics for Business Control and Regression Models
Prof. Frydman
September 19, 2013
Homework 3
(due September 26)
Reading: Sections 3.13.6 and 3.8 from MBS
Class Notes #2: Introduction to Probability
Exercises: 3.64 page 153, 3.72 page 1
Statistics for Business Control & Regression/Forecasting Models
STATUB 103

Spring 2014
1. A survey by KRC research for U.S News reported that 37% of people plan to spend more
on eating out after they retire. If eight people are randomly selected, determine the
following probabilities.
a). Exactly five people plan to spend more on eating out