Confidence Interval Estimation of Mean
(Sections 7.1-2)
Case 1 ( Known): Section 7.1
Parameter: (Unknown, fixed value)
Estimator:
X
(observed from a random sample of population)
Sampling Distribution:
DV:
IVs:
Page Costs for a 1-page ad
Audience (measured in thousands),
Male (percentage of audience that is male),
Income (median household income of audience)
1 predictor: Audience only
predicted Page
Enter Slope and Intercept for line and see how the sum of s
X 6 6 6 7 7 7 7 8 8 8 8 8 9 9 9 9 10 10 10
Actual Predicted Squared Y Y Deviation 6 6 0 7 6 1 8 6 4 6 7 1 7 7 0 8 7 1 9 7 4 6 8 4 7 8 1 8 8
Price of house
Size of house in square feet
Presence (pool=1) or absence (pool=0) of pool
price
73900
89000
94000
135900
162900
119900
159900
179000
249900
325000
Average Price
111140
206740
sqft
1248
1
MAR 5621: Advanced Managerial Statistics:
Final Exam Solutions
Please make sure that your answers are legible and understandable. Show your work. There are 50 points total;
each part is worth 2 poin
F Table: 5% Critical values (That is, 5% of the F distribution with the given df is to the right of these critical values.) Numerator degrees of freedom Denominator df 1 2 3 4 5 6 7 8 9 10 15 20 30 60
Introduction (Section 1.1)
This course applies and extends methods from STA 2023 to business
applications. We begin with a series of definitions and descriptions:
Descriptive Statistics: Methods used
One-Way Analysis of Variance (Section 10.1)
Populations: c Groups, with mean j and variance j2 for population j
(j=1,.,c)
Samples:
, variance Sj2, for
c samples of size n j with mean
X
j
sample j (j=1
Chi-Squared Test for Contingency Tables (Section
11.1-2)
Goal: Test whether the population proportions differ among k
populations or treatments (This method actually tests whether
the two variables ar
NumericalDescriptiveMeasures(Chapter3)
MeasuresofCentralLocation(Sections3.1,3.3)
Arithmetic Mean: The sum of all measurements, divided by the number of
measurements.Onlyappropriateforintervalscaledat
BasicProbability(Chapter4)
Approaches to assigning probabilities to outcomes
Classical Approach: Based on mathematical means of determining all outcomes of
an experiment, and assigning probabilities b
GraphicalDescriptiveMethods(Chapter2)
SingleVariable(Univariate)Graphs:
IntervalScaleOutcomes:
Histograms separate individual outcomes into bins of equal width (where
extremebinsmayrepresentallindivid
Random Variables and Discrete Probability
Distributions
Chapter 5
Random Variable: Function or rule that assigns a number to each
possible outcome of an experiment.
Discrete Random Variable: Random va
Comparing 2 Populations Chapter 9
We often wish to compare two groups with respect to either interval
scale or nominal outcomes. Typical research questions may include:
Does a new drug decrease blood
(The next 8 questions are based on the following information.)
The general manager of a supermarket chain believes that sales of a product are related to the amount of
space the product is given on sh
Estimated
Conditional
X0 (Specific value mean of Y for Standard error
of X)
X=X0
of Cond Mean
SUMMARY OUTPUT
10
9
0.501
1.289
Confidence
interval for cond Prediction interval
for 1 New Obs
mean when
w
MAR 5621: Advanced Managerial Statistics Assignment #2 (due in class Thursday, April 15, 2004)
This assignment may be done either individually or in teams of 2 people. (Teams should turn in only one p
Practice Problems on Correlation & Simple Regression
1. Suppose that, across a sample of stores, the correlation coefficient between beer prices and beer sales is -0.65. What does this number indicate
Practice Problems on Correlation & Simple Regression
1. Suppose that, across a sample of stores, the correlation coefficient between beer prices and beer
sales is -0.65. What does this number indicate
(The next 4 questions are based on the following information.)
In this problem we consider an analysis of the number of active physicians in a city as a function of the
city's population and the regio
(The next 4 questions are based on the following information.)
In this problem we consider an analysis of the number of active physicians in a city as a function of the
city's population and the regio
Questions on Multiple Regression
(The next 5 questions are based on the following information.)
Imagine that you are head of personnel at Huge Corp. The CEO keeps getting other people's mail by
mistak