Handout assignment II
Due 3/14/2015
1. A survey by KRC research for U.S News reported that 30% 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 peo
Solutions
Handout assignment II
1. A survey by KRC research for U.S News reported that 30% of people plan to
spend more on eating out after they retire. If eight people are randomly selected,
determine the following probabilities. Use the table.
a). Exact
1. Let X represents the number of cars sold each day by a car salesman. The probability
distribution of X is as follows:
X
p(x)
0
0.
4
1
0.
3
2
0.
2
3
0.
1
a. What is the probability that the salesman will sell more than one car on any one day?
His sales
Statistics and Data Analysis
Inferences Based on a Single
Sample: Estimation with
Confidence Intervals
Large-Sample Confidence Interval
for a Population Mean
How to estimate the population mean and
assess the estimates reliability?
x is an estimate of , a
Statistics
Exam Review
Confidence Intervals
and
Tests of Hypotheses
Key Points
Large-Sample Confidence Interval
for a Population Mean
How to estimate the population mean and
assess the estimates reliability?
x is an estimate of , and we use CLT to
assess
Statistics and Data Analysis
Statistics, Data, &
Statistical Thinking
Introduction
Lucius Riccio
lriccio@stern.nyu.edu
Office: KMC 8-171
Office Hours: By Appointment
TA: TBD
Analytics
What is a Rational Decision?
What is a Good Decision?
Analytics
Data
Statistics and Data Analysis
Multiple Regression and Model
Building
Multiple Regression Models
The General Multiple Regression Model
y 0 1 x1 2 x2 . k xk
y
is the dependent variable
are the independent variables
E y 0 1 x1 2 x2 . k xk is the deterministi
Statistics and Data Analysis
Regression and Forecasting
Models
Simple Linear Regression
Probabilistic Models
General form of Probabilistic Models
Y = Deterministic Component + Random
Error
where
E(y) = Deterministic Component
Probabilistic Models
First Or
Statistics and
Data Analysis
Exam #1
REVIEW
Presenting
Qualitative Data
Summary Table
1. Lists categories & number of elements in category
2. Obtained by tallying responses in category
3. May show frequencies (counts), % or both
Row Is
Category
Major
Acco
Statistics and Data Analysis
Regression and Forecasting
Models
Test #3 Review
Simple and Multiple Linear
Regression
Topics Covered
1.General Discussion of Regression Models
2. Fitting Data to a Formula (Regression
Equation)
3.Understanding the Nature of R
Statistics and Data Analysis
Random Variables &
Probability Distributions
Learning Objectives
1. Distinguish Between the Two Types of
Random Variables
2. Describe Discrete Probability Distributions
3. Describe the Binomial and Poisson
Distributions
4. Des
Statistics
and
Data Analysis
Confidence Intervals
Key Points
Large-Sample Confidence Interval for a
Population Mean
How to estimate the population mean and
assess the estimates reliability?
x is an estimate of , and we use CLT to assess
how accurate that
MINITAB Handout
Accessing SternApps
Log in with Stern ID (May have to download and install Citrix XenApp)
Open Minitab
Copy and paste
You can copy data from Excel worksheet and paste to Minitab worksheet.
Data Types, Data Display and
Summary Statistics
1
What Is Statistics?
1.
Collecting Data
e.g., Survey
2.
Data
Analysis
Presenting Data
e.g., Charts & Tables
3.
Why?
1984-1994 T/Maker Co.
Characterizing Data
DecisionMaking
e.g., Average
2
1984-1994 T/Mak
Assignment IV
Due date: 5/2/2015
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 productio
Example:
1.
A fast-food restaurant monitors its drive-thru service times
electronically to ensure that its speed of service is meeting the
companys goals. A sample of 28 drive-thru times was recently taken
and shown here.
83
138 145 147 130 79
178 76
73
1
Handout chapter 3
1. The chocolate House specializes in hand-dipped chocolates for special occasions.
Recently, several long- time customers have complained about the quality of the
chocolate. It seems there are several partially covered chocolates in eac
Final Handout
1. The Cost of going to the movies has increased over the last few years. A
random sample of six moviegoers was taken. The following data contains
prices for two tickets, a large popcorn, and two soft drinks:
35, 25, 20, 50, 30, 32.
Based on
Handout Chapter 6, and 7
1. The stationary store wants to estimate that retail value of greeting cards that it has in its
inventory are normally distributed, with mean value of $2.55 and a standard deviation of
$0.44. If a sample of 49 greeting cards were
1.
If we use =0.05
Reject H0
Yes, the data provide enough evidence to suggest that additional delivery cycle will be profitable.
b. PV= 0.5- -0.4927 = 0.0073
2.
Students may assume
To do the test
It is ok.
TwoSampleTTestandCI:PriceXi,Pricei
Two-sample T f
Handout Chapter 8
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 rando
Solutions for handout Chapter 5
1. A national trend predicts that women will account for half of all business travelers in the next
three years. To attract these women business travelers, hotels are providing more amenities
that women particularly like. A
Handout assignment III
Due date: 4/18/2015
1.
a. Do the data provide enough evidence to suggest that additional delivery cycle
will be profitable?
b. Find the p-value for the test.
2. Use MINITAB Data file posted on NYU Classes.
3.Two placement exams are
Part II
Hypothesis Testing
1
What is a Hypothesis?
A hypothesis is a claim
(assumption) about a
population parameter:
population mean
Example: The mean monthly cell phone bill
of this city is = $42
population proportion
Example: The proportion of adults i
Handout chapter 9
1. Five experts have tested two brands of coffee; Brand A and Brand B. They have given a
rating of 0-100. The table below shows the ratings. The manager of coffee shop believes
Brand A tastes better than Brand B.
Brand A
Brand B
C. J
70