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what 11h: standard dcviatiun an: knuwn and the null hypurimils i5:
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Case 10.2 Hamilton Marketing Services
1. a sample proportion for the pricing option 1 with the $40.00 is 6/80=0.2=20%, for the
pricing option 2 with the $30.0014/80=0.175=17.5%
2. Through the calculation I did, the pricing option
Analysis of Green Valley Assembly Company
Standard size (/hr)
Let 1 be population mean output of old group and 2 be population mean output of
A decision maker wishes to test the following null and alternative hypotheses using an alpha
level equal to 0.05:
H0 : 1 2= 0
OIS-3440 Applications fo Business Statistics
Chapter 15 In-Class quiz (30 minutes)
Name (Please PRINT) _
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.
1) The multiple coefficient of determination measures the percentage
The goodnessoffit test is always a onetail test with the rejection region in the upper tail.
When the variables of interest are
In a oneway analysis of variance design, there is a single factor of interest but there may be
multiple levels of the factor.
A study was recently performed by the Internal Revenue Service to determine how much tip
income waiters and waitresses should
Normal distribution: any distribution with a mean and standard deviation
Standard normal distribution: mean of zero and deviations of 1
Total area under the curve of SND is one. Area = p(x)
What it is
Why it o
Sample average is never equal to population average.
Sample error = xbar - mu
Taking the bottom sample average and top sample average - the min and max sampling error.
CLT : central limit theorem
X double bar = the average of all sampling averages.
The most important reason to study statistic because as business managers, you need to infer
from statistics what is going to come around the corner and be proactive. Or in other words,
First step for regression models
1. Find correlation.
2. Focus on the correlation of the first column (the dependent variable against all of the independent
variables) they should have a high correlation. The correlation between other independent
Null hypothesis (Ho) - "Status Quo", = signs, greater or equal to signs, less or equal to signs
Alternative hypothesis (Ha) also called research hypothesis - whatever we want to determine, to
be found, whether this is the case, noneq
Confidence interval for the population average.
Point estimate = sample average
Point estimate margin of error ( e )
Margin of error = critical error and standard error
1. When standard deviation is known
Xbar z(standard of deviation pop/
Discrete probability distribution: numbers on a countable interval, integers.
Continuous probability distribution: full spectrum of data, those between integers.
Ei p(x<5) = [0 - 5) all numbers from 0 to 5, including 0 and excluding 5
Random variables: an
business stats: making sense of data
1.Descriptive stats: making sense of graphs
2.Probability stats: (chp 4)
3.Inferential stats: study samples from calculations, and analyze examples to draw
inferences or conclusions about the calculations (most of text
We lose a degree of freedom every time we estimate
Questions that need to be answered to choose a sample size
What margin of error can we live with
What confidence level they need?
When calculating the sample population, always round up to the nearest int
JAN 9 CLASS NOTES
Thursday, January 9, 2014
Frequency distribution - how things are distributed and how often things happen that way.
Histogram - graph of frequency distribution.
Stem and leaf diagram - like a bar graph with data inside.
OIS-3340 Capstone Project
TOPIC: Are countries with high growth rates for urbanization more likely to undergo
OIS 3440 Applications of Business Statistics
Chapters 10 and 13
1. Please write your name on both the scantron and the exam itself.
2. Please write your answers on both the scantron and the exam itself.
Statistics - making sense out of numbers. Procedures for collecting data:
Business statistics: a collection of procedures and techniques that ' EXPEFiWEHtSI a prDEESS that
are used to convert data into meaningful info in a business environment PmdUCES 3 S
= population average. Sum/number in population
(with a bar on top)= sample average. Sum/number in sample
N=number in population
n=number in sample
Parameter= derived from a population
Statistic= derived from a sample
Median (Md) -
Process View of Organizations and Littles Law
David Eccles School of Business
University of Utah
Summary of Last Class
Organization as a collection of processes
Black box that takes inputs
Choose Q to minimize costs
Alpha Air has to decide how many meals to load on a flight from PHL to LAX.
The meals are sold on board for $10.00 and cost the airline $4.00 each. All
meal orders must be made at least 48 hours before the flight depa