EC271: Business Statistics Final Exam Study Guide:
Mean: All the values added up divided by how many values there
Mode: Most frequent occurring number
Median: Middle number: put into ascending order first, if even #
of values then middle t
Marketing 616: Digital Marketing
The Digital world has changed the way we live our lives and
Business Decision Analysis
Dr. Donn M. Johnson
Office Phone: 203-582-8205
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Catalog Description: This course is an introduction to basic quantitative tools that enable
managers to analy
Solutions - Confidence Intervals
8.6 Starting salaries:
a) The point estimate is the mean of the salaries of the sample of three students: $45,000.
b) The interval would be: 20,200 to 69,800. It includes all salaries within one margin of error on either
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1. A company administers a test to all its employees. Test scores as well as finishing times are
normally distributed random variables. If the average time required to finish the test equals 60
minutes, with a standard deviation of 12 m
MK 615 - Case Analysis Outline and Grading Key
I will not be giving you specific questions for each case. It is up to you to figure out what the
important questions are and to discuss them. Being able to identify the major issues/questions is
This class entails calculations based on sample data and occasionally census data. It
seems we should spend a little time on how that data was obtained.
Lets consider some of the ideas in chapter 17.
Why would we take a sample rather than a census? The ge
Confidence Intervals: Large Samples
When a statistic calculated from sample data is used to estimate
a population parameter, it is called _.
When a range of values is used to estimate a population
parameter, it is called _.
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EC 271 Quiz #3 f/ , j l
IdentiJ the letter of the choice that best completes the statement or izswers the queftion.
C 1. As the sample size increases, the -
a. standard de
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EC 271 Quiz #1
MULTIPLE CHOICE. Choose the one alternative; that be
A x ;.= Y i 3» ;
Anni r j
1) A sample of people who have attended college football g e at your university has a mean; 3.2 1) ~_,
members in their family. Th
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EC 271 Quiz #1
Identii the letter of the choice that best completes the statement r answers e question
A researcher has collected the following
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EC 271 Quiz #2 /
Identyjz the letter of the choice that best completeskhe statement or answers the uestion.
f: 1. Given that Z is a standard normal randohi variable, What is 1 211116
The main objective of Chapter 9 is to help you to learn how to test hypotheses on single
populations, thereby enabling you to:
Understand the logic of hypothesis testing and know how to establish null and