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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
Chapt 10 Take Home: OIS 3440-001 Fall 2013 App of Business Stats
1/14/14, 10:05 PM
Chapt 10 Take Home
Due Sep 14, 2013 at 11pm
Available after Sep 3, 2013 at 6am
Time Limit None
Chapt 14 Exam: OIS 3440-001 Fall 2013 App of Business Stats
1/14/14, 10:08 PM
Chapt 14 Exam
Due Nov 9, 2013 at 11pm
Available after Oct 29, 2013 at 6am
Time Limit None
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
A decision maker wishes to test the following null and alternative hypotheses using an alpha
level equal to 0.05:
H0 : 1 2= 0
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
The goodnessoffit test is always a onetail test with the rejection region in the upper tail.
When the variables of interest are
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
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
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
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
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/
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.
Marital Status Zero
Marital Status Zero
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
1. What can we learn from scatter plots? (think about the types of relationships we might be able
2. What can we learn from a SAMPLE correlation coefficient?
a. What values r can take on, and what do those mean?
b. What is r measuring?
c. What can
Question One: Arnold Palmer and Tiger Woods
1 does not =2
Type of Test:
Tiger Woods Difference
ANOVA One Way Analysis:
Ha: not all means are equal; at least one mean is different
o If the variation between the data is really large compared to the variation within the
data, then at least two averages are different and we
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.