Solutions to Sample Final Exam
1304AFE Business Statistics
QUESTION 1 ( 13 marks)
A
a.
Given: n = 15; ; S = 2.4
is unknown and the population distribution is normally distributed (Case 3).
95% CI for :
b.
10.8708 13.5292]
c.
B.
Given: = 2.0 is known and
EXAMPLE 7.1: Calculating Normal Probabilities
Source: Excel textbook, page 102.
GIVEN: population mean = 2.5, population sd = 0.3
TASK 1
P(X>3) = ?
Answer: Use normdist function. Remember: normdist can give you P(X<3) not P(X>3)
P(X<3)
0.9522096
P(X>3)
0.
SOLUTIONS
Practice Questions for Final Exam (QIBT1304 AFE)
Topics tested in the exam:
Hypothesis Test
Simple Linear Regression and Correlation
Multiple Regressions
Index Numbers
Any materials included in lecture weeks 6 12.
Theoretical Questions:
Br
Example 4.1
Obtaining numerical descriptive measures
45
48
HowtobringupDATAANALYSISinExcel2010?
52
*ClickFilethenClickOption.ClickAddIns,thenclickGoonManageExcelAddIns
54
*TickonAnalysisToolPak.Nowunderdata,DATAANALYSISshouldappear.
55
58
From data set gi
Example 3.1: Drawing Histogram from raw data
Source: Excel Textbook, page 27
The results from a statistics exam are as follows:
Perform the following tasks:
Construct a frequency Histogram for the exam results
Class width
8.1666667
BINS
50
60
70
80
90
100
EXAMPLE 11.1, Excel textbook, p.160
Hypothesis Test Case 1(Testing hypotheses about population mean when sigma is known)  Left Tail Test
In Excel, hypothesis testing can be efficiently performed using the p value method.
Given:
mu to test
sigma
xbar
n
70
Excel textbook, Example 13.1, p.229
Simple Linear Regression
Data below exhibits, for 8 delicatessens, the annual profit per dollar of sales (measured in cents) (Y), and the number of employees per store (X).
X
Y
3
6
4
5
2
5
4
1
19
30
20
25
16
26
22
14
Pe
EXAMPLE 9.1, Excel textbook, p.139
CASE 1: Constructing confidence intervals for pop'n mean when pop'n standard deviation is given
Given:
xbar
sigma
n
7.2
5
240
Task: Estimate the population mean with 95% confidence.
Formula = xbar + B
where B is Z(alpha
PASS Session 6
Question 1:
A toy manufacturer takes a sample of toys to find out how many defects to
expect. The manufacturer has decided to increase the size of its random sample
of toys from about 250 toys
Sample Final Exam
1304AFE Business Statistics
The actual final exam consists of 4 questions (Total of 55 marks):
Question 1 13 marks
Question 2 13 marks
Question 3 18 marks
Question 4 11 marks
Content: Covers all theoretical concepts and practical exercis
GRIFFITHUNIVERSITY
DEPARTMENTOFACCOUNTING,FINANCEANDECONOMICS
1304AFEBUSINESSSTATISTICSGoldCoast
COURSEGUIDE
SEMESTER2,2014
Course convenor:
Campus Convenor: Dr Nicholas Rohde (n.rohde@griffith.edu.au)
1. General
This course is designed to provide student
1304AFE BUSINESS STATISTICS
COMPUTING EXAM  worth 15%
Instructions:
50 minutes.
During computer lab classes in week 13.
All answers are to be written on the computer test itself with spaces
provided.
The actual computer test consists of two (2) quest
SOLUTIONS TO SAMPLE MID SEMESTER EXAM
(marked with an Xsome questions also have extra explanation at the end)
Question 1
Do you believe the Government should introduce a carbon tax? Yes
No
The data produced is an example of:
(a) quantitative data
(b) tim
1304AFE Business Statistics
Introduction to Statistics
Graphical Descriptive Statistics
References  Chapters 1, 2: 2.1; 3: omit 3.4
and 4: 4.1 and 4.2
Objectives
Define statistics
Define statistical terminologies
Population and Sample
Population Par
Example 3.2: Drawing Histogram from a frequency distribution
Source: Excel textbook, page 36
Frequency Distribution of Telephone Call Durations
Class Intervals
Frequency
2 to 5
5 to 8
8 to 11
11 to 14
14 to 17
17 to 20
Relative
Frequency
Cumulative
Freque
1304AFE  WEEK 4 LECTURE EXAMPLES
Example 1:
The weight of each 32g chocolate bar is
normally distributed with a mean of 32.2 g and a
standard deviation of 0.3 g.
a) Find the probability that, if a customer buys
one chocolate bar, that bar will weigh more
1304AFE

LECTURE 3 EXAMPLES
1. The heights of children two years old are normally distributed with a mean of 80 cm and a
standard deviation of 3.6 cm. Find the probability that the height of a two year old child is:
a) less than 75 cm
b) less than 83 cm
Semester 2, 2013
1304AFE Exam I Information Sheet
Exam 1 Information Sheet
When & Where & What to do if you miss it:
Conducted in week 4 during your enrolled workshop class. You may not
attend the workshop of another class.
If you are late to the exam you
Example 2.1, Excel textbook
BPP Service Station Monthly Petrol Sales 2005
Month
Sales
Average Selling Price
(thousands of litres)
January
February
March
April
May
June
July
August
September
October
November
December
4000
4500
4000
3600
4100
3800
3900
3950