Question 1
1 out of 1 points
Questions 1 through 4 are based on the following:
Assume that the annual return for a company is normally distributed with
mean return = 15% and with standard deviation = 25%
Use either NORMDIST or NORMINV to help you answer
Question 1
1 out of 1 points
Questions 1 through 2 relate to the following histogram of the proportion of defective
components in different shipments.
The histogram can best be described as
Selected
Answer:
Correct
Answer:
Response
Feedback:
C. Approxima
Question 1
2 out of 2 points
The following box-plot shows customer service times (in minutes) for an
individual to see a Chase Bank teller. Use it to answer question 1.
The box-plot above shows that customer service time for an individual to
see a Chase
Please be sure to complete both the multiple choice and short answer portions of theexam.I. This is
the short answer portion of the examination (50 points total). Show work sopartial credit may be
given.(8) 1. Type your response in the space below.
a. DHL
Question 1
1 out of 1 points
Questions 1 and 2 relate to the following scatter plot:
From the scatter plot:
Selected
Answer:
Correct
Answer:
Response
Feedback:
A.
The correlation between X and Y is
positive
A.
The correlation between X and Y is
positive
CHAPTER 2DESCRIPTIVE STATISTICS: TABULAR AND GRAPHICAL
PRESENTATIONS
MULTIPLE CHOICE
1. A frequency distribution is a tabular summary of data showing the
a. fraction of items in several classes
b. percentage of items in several classes
c. relative percent
ECN501
Statistics for Managers
Week 4 - Fall 2015
Objectives
1. Forecast future values of a time series based on historical
patterns in the series.
2. Identify the three elements of decision analysis.
3. Use a decision tree to help make a decision.
4. Emp
ECN501
Statistics for Managers
Week 1 - Fall 2015
Statistical Thinking
Recognizing uncertainty or variation in business
processes
To provide opportunities for process improvement we need to
know how to
Identify
Characterize
Quantify
Control
Reduce the var
ECN501
Statistics for Managers
Week 3 - Fall 2015
Objectives
1. Use a trend line fit through a scatterplot to describe statistical
relationships between two variables, Y and X.
2. Determine if two variables are linearly related using either a
confidence i
ECN501
Statistics for Managers
Week 2 - Fall 2015
Objectives
1. Recognize the following terms used in statistical inference: population, variable,
parameter, sample, and estimate.
2. Select a simple random sample.
3. Identify the normal population model (