QUANT 2600 Business Statistics I
Chapter 3: Descriptive Statistics: Numerical
Measures
Mathematical Concepts
Set of Data and Notation
= 1,2, ,
Defines a set of n observations on the X variable.
Or equivalently 1 , 2 , 3 , 4 , , ,
Example:
= 11, 3, 8, 2
QUANT 2600 Business Statistics I
Chapter 4: Introduction to Probability
Probability
How do you deal with making a decision when facing
uncertain outcomes?
What are the chances that sales will decrease if we increase prices?
What is the likelihood a ne
QUANT 2600 Business Statistics I
Chapter 2: Descriptive Statistics: Tabular and
Graphical Displays
Tabular and Graphical Displays Overview
Data
Categorical Data
Tabular
Displays
Frequency
Distribution
Rel. Freq. Dist.
Percent Freq.
Distribution
Graphic
QUANT 2600 Business Statistics I
Chapter 1: Data and Statistics
What is Data?
Data has shape!
So what does it look like?
Examples: Collect data
How many times do you eat pizza per week?
What can we say from the shape of the data?
What does the middle nu
QUANT 2600
PROFESSOR MATT GNAGEY
MIDTERM EXAM #1
CAR WASH
NAME:
PART I (40pts)
State
Arizona
Arkansas
California
Colorado
Idaho
Iowa
Kansas
Louisiana
Minnesota
Missouri
Montana
# of Car
Washes
287
122
1,730
283
90
213
158
143
189
342
79
# of
Workers
3,817
Practice Problems Worksheet
SECTION DUE DATE
Chapter 1
7/2/2016
Practice
1.2
Practice
1.4
Practice
1.5
Chapter 2
7/2/2016
Practice
2.1
For questions 1 and 2, you may skip a., and b.
Practice
2.2
https:/www.khanacademy.org/math/cc-eighth-grade-math/cc-8th-
QUANT 2600
4.5 Extra Probability Problems
1. Fred has a total 450 friends on Facebook. 150 of his friends are female. 200 of his friends are married.
80 of his friends are female and married.
Define Event A: married
Define Event B: female
Describe in word
QUANT 2600
3.1 In-Class Exercise
Formulas:
Index Calculation for Percentiles:
( 100P )n
i=
Weighted Mean
if i is not an integer round up, if i is an integer average i and
i+1
Observation #
1
2
3
4
5
6
7
8
9
10
Below is fast food data from three popular ch
QUANT 2600
4.5 Extra Probability Problems
1. Fred has a total 450 friends on Facebook. 150 of his friends are female. 200 of his friends are married.
80 of his friends are female and married.
Define Event A: married
Define Event B: female
Describe in word
QUANT 2600
1.1 In-Class Exercise
1. Classify the following data that would be collected from the following questions as categorical or
quantitative. Then classify is as nominal, ordinal, interval, or ratio.
a. Do you commute to campus: Walk (1), Bus (2),
Practice Problems Worksheet
SECTION
Chapter 1
Practice
Practice
Practice
Chapter 2
Practice
Practice
Practice
Practice
Chapter 3
Practice
Practice
Practice
Chapter 4
Practice
Practice
Practice
Practice
Practice
DUE DATE
7/2/2016
1.2
1.4
1.5
7/2/2016
2.1
2
0! = 19
Permutation formula =
N!
( N n ) !
-Like a locker com
Combination formula =
- Like a salad
P(A U B) = P(A) + A(B) P(A B)
P(Ac) = 1 - P(A)
Conditional probability: P(A | B) =
P( A B)
P (B)
N!
n! ( N n ) !
P(A B) = 0 (mutually exclusive)
<= the prob
Categorical: nominal (labels, names, categories) and ordinal (order/rank is meaningful)
Quantitative: interval (temperature) and ratio (zero has true meaning)
Class Width =
largest data valuesmallest data value
number of classes
Weighted Mean (x-bar) =
Pe
QUAN 3610
Excel Write-Up Ch. 15
QUESTION 5E:
1. Does the author include an introductory statement that motivates the problem by indicating why
they are doing the analysis?
In question number 5, the owner collected a historical data for a sample of eight w
Quan 3610
Excel Write-Up Chapter 12
QUESTION #14:
A survey of vehicle quality asked new owners many different questions about their recently
purchased automobiles. One of the questions asked for the owners rating of the vehicle using
categorical responses
QUAN 3610
Excel Write-Up CH. 15
QUESTION 7E:
1. Does the author include an introductory statement that motivates the problem by indicating why
they are doing the analysis?
In the question number 7, it is about the PC World. PC World rated four component c
Quan 3610
Excel Write-Up Ch. 12
QUESTION #12:
A Deloitte employment company has conducted a survey and has asked a sample of human
resource executives how their company has planned to change its workforce over the next 12 months or
year. The response cons
Quan 3610
Excel Write-Up Chapter 11
QUESTION #19:
In question 19, deals a lot with variances. A large variance often signals an opportunity for improvement
in the process by finding ways to reduce the process variance. So we conducted a statistical test t
Quan 3610
Excel Write Up Ch.9 #32
32)
Hypothesis Test about a Population Mean with Sigma
Unkown
Sample Size
50
Sample Mean
9750
Sample Standard Deviation
1399.998907
Hypothesized Value
10192
Standard Error
197.9897441
Test Statistic t
-2.232438867
Degrees
Quan 3610
Excel Write-Up Chapter 11
QUESTION #21:
Question 21 is dealing with smartphones, smartphones with the LTE-enabled persuasion have earned a
bad reputation for exceptionally poor battery life. Battery life between charges for the Motorola Droid
Ra
Quan 3610
Excel Write Up Ch. 9 #29
29)
Hypothesis Test about a Population Mean with
a Sigma Unknown
Sample Size
25
Sample Mean
85272
Sample Standard Deviation
11039
Hypothesized Value
90000
Standard Error
2208
Test Statistic t
-2
Degrees of Freedom
24
p-v