LN#2 (Numerical Measures) Solutions
Exercise 1: Average weekly pay in a given industry is = $840 with
the standard deviation of = $150 Using Chebyshevs theorem make a
statement about the proportion of weekly pay in this industry which falls in
the interva

1/29/2015
Requirements
for
Homework Problems
GC 1055
Peter Wrampe
Peter.Wrampe@nyu.edu
203.762.1270
When solving problems
In your own words, restate the background info
for the problem
Restate what you are being asked to solve
List the formulae you are

NYU-SCPS Policy on
Academic Integrity and Plagiarism
Do not collaborate with other students on assignments without
the express permission of the instructor.
Do not give your work to another student who then submits it as
his or her own.
Do not share or

STAT-UB 1: Homework 4
1. a) 0.3925
b) 0.5 + 0.1736 = 0.6736
c) (1- 0.7881)*2 = 0.4238
2. a) Z = (2.5-3)/0.3 = -1.67, so P (Z< -1.67) = 0.5 0.4525 = 0.0475
b) Z = (3.2-3)/0.3 = 0.67, so P (Z< 0.67) = 0.5 + 0.2486 = 0.7486
c) Z = (3.5-3)/0.3 = 1.67, so P (Z

STAT-UB 1: Homework 4
1. a) 0.3925
b) 0.5 + 0.1736 = 0.6736
c) (1- 0.7881)*2 = 0.4238
2. a) Z = (2.5-3)/0.3 = -1.67, so P (Z< -1.67) = 0.5 0.4525 = 0.0475
b) Z = (3.2-3)/0.3 = 0.67, so P (Z< 0.67) = 0.5 + 0.2486 = 0.7486
c) Z = (3.5-3)/0.3 = 1.67, so P (Z

Optional HW2a - Probability Solutions
Consider rolling two fair dice. Let A be the event that the first die is greater than 4. Let B
be the event that the sum of the two dice is 6. Let C be the event that the sum of the two
dice is 7.
1. Find P(A) = 1/3.

STAT-UB.0103
Homework Set 1
The abbreviation MBS11 refers to the 11th ed of the course textbook. MBS12 refers to the
12th ed.
1. Consider this set of 6 values:
131, 124, 184, 119, 166, 154
Find the mean, median, and standard deviation for this set.
2. Con

STAT-UB.0103 and 0001
Homework Set 2b
1. If one card is selected at random from a standard deck of 52, find the probability that
a.
the selected card is a diamond () ;
b.
the selected card is a seven;
c.
the selected card is red;
d.
the selected card eith

5. a)
c)
The last dot represents the airline which has an unusual mix of part-time and fulltime employees, as it deviates from the graphs trend.
8. Data set: Brand value in USD Million in 2015 of top 6 companies.
Company name
Apple
Samsung Group
Google
Mi

STAT-UB.0103
Homework Set 3
Instructor: Kevin Brabazon
1. The random variable Y has the probability distribution described in this table:
y
P[ Y = y ]
1
0.20
2
0.50
3
0.20
4
0.10
Find the mean and standard deviation of the random variable Y.
2. The random

HOMEWORK SET 4
STAT-UB.01
1. If Z is a standard normal random variable, find the probability that
a.
0 Z 1.24
b.
Z > -0.45
c.
| Z | 0.80
2. The apples from HappyMac Farm have diameters which are approximately normally
distributed with mean = 3.0 inches an

STAT-UB.0103
Homework Set 5
COMPLETE ALL QUESTIONS FOR THIS HOMEWORK.
1. Based on a sample of 50 x-values having mean 35.36 and standard deviation 4.26,
(a)
test at the 0.05 level of significance the null hypothesis
: = 34 versus
H0
the alternative
: 34.

Optional HW2a - Probability Solutions
Consider rolling two fair dice. Let A be the event that the first die is greater than 4. Let B
be the event that the sum of the two dice is 6. Let C be the event that the sum of the two
dice is 7.
1. Find P(A) = 1/3.

Statistics for Business and
Economics
Chapter 7
Inferences Based on a Single Sample:
Tests of Hypotheses
Hypothesis Testing
Population
I believe the
population mean
age is 50
(hypothesis).
Random
sample
Mean
X = 20
Reject
hypothesis!
Not close.
Whats a

1/29/2015
Marketing Strategy:
Statistical Measurements, Analysis and Research
Inferential Statistics
GC1055
Peter Wrampe
Peter.Wrampe@nyu.edu
203.762.1270
Course Objectives
Comfort with data
Understand statistical measures
Visual display of data
Data

2/22/2015
Excel for Statistics
Add-Ins for Statistics:
(a) Analysis ToolPak and (b) Megastat
Excel v2007
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Open Excel
Click on Office Button in top left corner
Click on Excel Options on the bottom of the newly opened window
Cl

9/15/2015
What is Statistics?
Chapter 1
Learning Objectives
Why study statistics?
Understand the difference between:
descriptive and inferential statistics.
a qualitative and a quantitative variable.
a discrete and a continuous variable.
Distinguish amon

STAT-UB.0103- Statistics for Business Control and Regression Models
Prof. Frydman
December 11, 2015
Review Questions for the Final Exam
The questions in Problems 1) and 2) below should be answered using
information in Minitab output that follows Problem 2

STAT-UB.0103- Statistics for Business Control and Regression Models
Prof. Frydman
December 13, 2015
Solutions to Review Questions for the Final Exam
1) In order to investigate the feasibility of starting a Sunday edition for
a large metropolitan newspaper

STAT-UB.0103.04-Statistics for Business Control and Regression Models
October 24, 2015
Solutions to Review Questions for the midterm
1) The demand for rental of skis on winter Saturdays in a particular area
has an approximately normal distribution with th

STAT-UB.0103.04-Statistics for Business Control and Regression Models
October 30, 2015
Solutions to Midterm A
(8) 1) Suppose that in a random sample of size 16 from a population
of scores on an aptitude test, the sample mean is 15 and sample standard
devi

One-Sample Tests of
Hypothesis
Chapter 10
ver 2014.07.18.
Learning Objectives
LO1 Define a hypothesis.
LO2 5-step hypothesis-testing procedure.
LO3 Type I and Type II errors.
LO4 Define the term test statistic and how it is used.
LO5 Distinguish between a

Estimation and Confidence
Intervals
Chapter 9
ver 2014.07.18.
GOALS
1.
2.
3.
Define a point estimate
Define level of confidence
Construct a confidence interval for the
population mean when the:
Population standard deviation is known
Population standard de

Continuous Probability
Distributions
Chapter 7
Focus on
7/207
Continuous
Probability
Distribution
7.2 Uniform Probability Distributions
7.3 Normal Probability Distributions
7.4 Standard Normal Probability Distribution
GOALS
1.
Difference - discrete and co

Continuous Probability
Distributions
Chapter 7
Focus on
7/207
Continuous
Probability
Distribution
7.2 Uniform Probability Distributions
7.3 Normal Probability Distributions
7.4 Standard Normal Probability Distribution
1
GOALS
1.
Difference - discrete and

Describing Data:
Numerical Measures
Mean, Median, Mode
Chapter 3
Our goals are to
1. Understand the arithmetic mean, weighted mean,
median, and mode
2. Understand the characteristics, uses, advantages &
disadvantages of each these measure of location.
3.

Describing Data:
Numerical Measures
Mean, Median, Mode
Chapter 3
Our goals are to
1. Understand the arithmetic mean, weighted mean,
median, and mode
2. Understand the characteristics, uses, advantages &
disadvantages of each these measure of location.
3.

Describing Data:
Displaying and Exploring Data
Chapter 4
Dot Plots
A dot plot groups the data as little as possible and
the identity of an individual observation is not lost.
To develop a dot plot, each observation is simply
displayed as a dot along a hor

Chapter 8
Inferences Based on Two
Samples: Confidence Intervals
and Tests of Hypothesis
Comparing Two Population
Means: Independent Sampling
How would you try to answer these
questions?
Who gets higher
grades: males or
females?
Which web browser
is fast

Statistics for Business and
Economics
Chapter 6
Inferences Based on a Single Sample:
Estimation with Confidence Intervals
Estimation Methods
Estimation
Point
Estimation
Interval
Estimation
Point Estimator
Population Parameter
: mean
Point Estimator
Ru

Statistics for Business and
Economics
Chapter 11
Simple Linear Regression
1
11.1
Introduction and
Probabilistic Models
2
Introduction
Often want to study the relationship
between two variables
SAT score and first-year GPA at a university
Disposable inc

Homework #7 Due Nov. 3rd, In Class
STAT-UB.0103 Statistics for Business Control and Regression Models
Homework assignments will be drawn from problems from the text, as well as from other sources.
Some of these will involve data files. All data files will

Sampling Distributions
Content
1. The Concept of a Sampling Distribution
2. Properties of Sampling Distributions:
Unbiasedness
3. The Sample Distribution of the Sample
Mean and the Central Limit Theorem
Parameter & Statistic
Parameter
numerical descriptiv