BAD 2323 Ch3 Hwk Sol
1. Use the following data to calculate
the mean and the median:
X
x
10
10
12
12
16
16
17
17
20
20
x
75
Median=middlevalueof16
xx = (x) / n
x
xi
75
15
n
5
2. Use the following data to calculate the
following percentiles:
Must place in
BAD 2323 Ch9 Hwk Sol
Pretend someone said that the population mean is at least 10.
You arent sure, so you decide to take a sample of 50 and check it out.
After taking that sample, you find that the sample mean of 9.46
and the standard deviation is 2.
Reme
BAD 2323 Ch5 Hwk Sol
Binomial probability: Solutions
1. If a certain population is known to be 4% defective, determine the
C *p *q
P(x=0def)
n x
from a sample of n=10 : 10C0 * (.04)0*(.96)10-0 = .6648
x
n-x
You are using the Binomial.
You know you are not
BAD 2323 Ch8 Hwk Sol
CONFIDENCE INTERVALS Solutions:
1. A study is made to determine how much was spent for a product. A
sample of 1,000 people was taken. The sample mean was $300 and the
sample standard deviation was $90. Calculate:
X
s
n
X
90
1000
X
BAD 2323 Ch11 Hwk Sol
Ex 11-1
#1
400
0.48
n
p
a.
#2
300
0.36
Point estimate of difference between the 2
population proportions?
( p1 p2 )
b.
= 0.48 - 0.36 = 0.12
90% confidence interval:
s p1 p2
p1 (1 p1 ) p2 (1 p2 )
0.48( 0.52) 0.36(0.64)
0.0373
n1
n2
4
BAD 2323 Ch7 Hwk Sol
1. N = 200
s = 50
n = 100
sample mean is used to estimate m
Calculate the Standard error of the mean
s x s / n 50 / 100 5
What is the probability the sample
mean will be within + or - 5 of the
population mean?
For5,(
x m )=5
z
x m
Are
BAD 2323 Ch6 Hwk
Normal Probability Distribution
1. If a normal distribution has a mean of 600 and a standard deviation of 100:
a. What is the probability of finding a value above 650?
b. What is the probability of finding a value above 400?
c. What is th
11. Assume that P(B|A) = 50% ; P(B|A' ) = 10% ; P(A)= 32%:
P ( B | A' ) means the probability that B will occur, given that A does not occur.
P ( B | A ) means the probability that B will occur, given that A does occur.
P ( A ' and B ) means the joint pro
BAD 2323 Ch12 Hwk
Ex 1
Sum
Consider the following data:
x
y
1
3
2
7
3
5
4
11
5
14
15
40
b1 =
b0 =
Regression equation =
Calculate y when x = 4
Calculate sx =
Calculate sy =
Calculate sxy =
Calculate r =
Calculate r2 =
Ex 2 Consider the following data:
x
y
BAD 2323 Ch4 Hwk
1. In a basket there are 6 red marbles
and 4 blue marbles.
What is the probability of drawing
a red marble-P(R)?
60%
2. In a basket there are 6 red marbles
and 4 blue marbles.
Given that you have selected a red marble and have placed
it i
BAD 2323 Ch9 Hwk
2.1236E+016
1. Ho: m =>10
n = 50
sample mean = 9.46
s=2
a = .05 1 tail
Calculate table Zt
2.05
Calculate Computed Zc
Reject or Do not Reject?
Calculate p value:
What is the critical value?
1.36
DNR
0.02
17.269
2. Ho: m <=15
n = 40
sample
BAD 2323 Ch8 Hwk
CONFIDENCE INTERVALS
1. A study is made to determine how much was spent for a product. A sample of
1,000 people was taken. The sample mean was $300 and the sample standard
deviation was $90. Calculate:
a. the 68.3% confidence interval
297
BAD 2323 Ch6 Hwk
Normal Probability Distribution
1. If a normal distribution has a mean of 600 and a standard deviation of 100:
a. What is the probability of finding a value above 650?
0.3085
b. What is the probability of finding a value above 400?
0.9772
BAD 2323 Ch12 Hwk
Ex 1
Sum
Consider the following data:
x
y
1
3
2
7
3
5
4
11
5
14
15
40
b1 =
2.6
b0 =
0.2
Regression equation =
y=.2+2.6x
Calculate y when x = 4
10.6
Calculate sx =
1.58
Calculate sy =
4.47
Calculate sxy =
6.5
Calculate r =
0.92
Calculate
BAD 2323 Ch5 Hwk
Binomial Probability:
1. If a certain population is known to be 4% defective, determine the P(r=0def)
from a sample of n=10 :
0.6648
2. If a certain population is known to be 10% defective, determine the P(r<=1def)
from a sample of n=15 :
BAD 2323 Ch11 Hwk
Ex 11-1
n
p
#1
400
0.48
#2
300
0.36
a.
Point estimate of difference between the 2
population proportions?
b.
90% confidence interval:
0.108
c.
95% confidence interval:
0.114
Ex 11-2
n
p
#1
200
0.22
#2
300
0.16
Ho: p1 - p2 =0
Alpha risk =
BAD 2323 Ch10 Hwk
Ex 1
Sample 1
Sample 2
n1
50
n2
35
m1
13.6
m2
11.6
s1
2.2
s2
3
a. Point estimate of the difference between
the 2 population means
2
b. Standard error of difference between means.
0.595
c. 90% confidence interval
0.98
d. 95% confidence in
BAD 2323 - Business Statistics - Study Guide for Final Exam
Use this study guide along with the practice final exam to prepare for the final exam.
Mean (non-grouped data)
Mode (non-grouped data)
Median (non-grouped data)
Variance
Standard Deviation
Sample
BAD 2323 Ch4 Hwk
1. In a basket there are 6 red marbles
and 4 blue marbles.
What is the probability of drawing
a red marble-P(R)?
2. In a basket there are 6 red marbles
and 4 blue marbles.
Given that you have selected a red marble and have placed
it in th
BAD 2323 Ch10 Hwk
Ex 1
Sample 1
n1
50
m1
13.6
s1
2.2
Sample 2
n2
35
m2
11.6
s2
3
a. Point estimate of the difference between
the 2 population means
2
b. Standard error of difference between means.
0.595
c. 90% confidence interval
1.02 to 2.98
d. 95% confi
BAD 2323 Ch11 Hwk
Ex 11-1
n
p
#1
400
0.48
#2
300
0.36
a.
Point estimate of difference between the 2
population proportions?
b.
90% confidence interval:
c.
95% confidence interval:
Ex 11-2
n
p
#1
200
0.22
#2
300
0.16
Ho: p1 - p2 =0
Alpha risk = .10 / 2 two