2.]nhrnllstlmacnuf-pcpullcnnrlancl a; A3 in
An investigation conducted by a mpnrterfmm The New York Tune-s revealed an inverse retatiorslip betweeu prices
and tertiperature in Manhattan retail store: during the summer: High-end retallers tend toset theair
Problem #1 on Page 524
Three possible Treatment Options
Business Question: "Are there any differences in the mean measure across the three treatments?"
Exercise #24 on Page 429
Flight Cost of different Airports
Business Question: Is it more costly (on average) to fly out of Dayton than out of Louisville?
Sample Flights from Dayton, Ohio and Louisville, Kentucky to 8
Business Issue: Upper support and price for day hikers and backpacking boots
Business Question: Does the sample data provide evidence that a relationship exists
between selling price of y (Price $) and x (upper support of backpacking boots)
Problem # 7 on Pg 574
Reliablity of cars and their prices.
Do more reliable cars cost more?
If so extimate the price for an upscale sedan that has a good reliablity rating.
a sample of 15 upscale sedans r
DSC 210/211 Special Exercise.
Business Framework for Data Analysis - BFDA
For all the work of these courses, we will study various statistical data analysis techniques - NOT
in isolation BUT within the context of a BUSINESS framework. The framework is as
QUIZ 1-1 PREPARATION:
1) Reread the first three Module 1 Objectives - in the Learning Guide.
2) Review the Module 1 Class Notes 1-2 and Practice Exercises for classes 2-5.
3) Review the HW 2-5 Solution Guides.
4) Review & work on practice problems of Clas
DSC 211 - ROLE OF BUSINESS DATA & CONCLUSIONS WE CAN DRAW FROM SUCH INPUT:
Any Business Organization
CLASS NOTES 1-1
Business Groups (populations) to focus on and understand - examples
Exercise 9-17 (p375)
Issue: Jones & Ryan securities firm - their year-end bonuses.
BusQues: Is the mean year-end bonus at Jones & Ryan different than $125,500?
Data: Wall Street record year-end bonuses of $125,500 per employee for 2005 (Fortune, Feb 6
Read Class Notes 1-2, first three pages.
Study Class 3 example exercise.
professionals. Two years ago the mean was $80,000. We assume that the stdev of sales per
month will no
211 HW1-CL2 Ex.xls
CLASS 2 EXAMPLE:
FIRST DSC 211 TOPIC: TESTING CLAIM ABOUT A POPULATION
See Class Notes 1-2.
Income level of our current customers
What symbol do we use for this property?
BusQues: Can we conclude that the av
So Far - Questions about the mean () of some property or measure for a whole business populatio
Time (minutes) to do a task.
Is mean time less than 100?
Random sample n = 50
stdev of all x-bar =
times = 10 s =
Name of Test?
211 Class Notes 1-2.doc
CLASS NOTES 1-2
Last Topic of DSC 210 Statistical Estimation: Using sample results, answer the question,
What is the value of the mean of the whole population & how precise (margin of error) is the
estimate? For example, Fr
The financial consulting servies for Merril Lynch
Does the company with more years of experience have a higher population mean
Problem 13 (Page 421)
Tons of cargo carried per day handled by memphis and louisville airports
"Is the average throughput(tons/day) different for Memphis and Louisville?
Problem #23 on Page 428-429
Bank of America Annual credit card charges of 7 categories
Is there a difference in the mean credit card charges for groceries and dining out for America
ANNUAL CREDIT CARD
2. Iml estimation ofi- popullnn variance
An investigation mnducted by a reporter fmm Nellie-w Ymk Tmies revealed an inverse relatinnslip between price:
and temperature in Manhattan retail stores during the summer: ngh-end retailers tend to set the air con
Problems 5 and 7 on Page 483
Where women buy their casual clothing most often.
Does the sample provide evidence that that women shoppeers in
atlanta differ from the shopping preferences expre
The number of vehicles owned by subscribers to Fortune Magazine
Problem 38 - Pg. 390
Business Issue : Supermarket Brand Ketchup versus National Brand Ketchup
Business Question: Is the Percentage of Supermarket Shoppers who believe
supermarket ketchup was as good as the national brand
different from 64%?
Unemployment insurance benefits of Virginia residents versus rest of US
Is the mean unemployment insurance benefits of Virigina Residents less than $238?
100 residents of Virginia will be exami
Average sales per month for all financial service professionals
Are the average sales less than $80,000 per month?
Sample of 100, Standard deviaton of $12,000, and alpha =.01
Ha: < 80
New manufacturing production method
Is the mean cost of the new production method less than $230 per hour?
40 hours of the new method will be examined and the standard deviation is $10
And the old method has a mean of $220
St. Dev. =
Judgement of errors made by auditors
Can we conclude that the auditors judgemets were better than actual results
Homework # 15
Exercise 21 (p 471).
Exercises 2 & 3 (p524)
BFDA and F-Test
Use FDIST to calculate the p-value.
The risk of large cap growth and small cap growth mutual funds
Is the Small Cap Growth Fund R
Homework # 13
Problem # 15 on Page 469
Ho: 21 = 22
Ha: 21 22
(1) F = s1^2/s2^2
Required Condition: Populations are approx Normal.
(2) If Ho is true (var's equal), this ratio has a known "F" distribution with 2 df:
df1=n1-1 = 20