Final Exam Review Questions You should work each of the following on your own, then review the solutions guide. DO NOT look at the solutions guide first. 1. Explain the difference between a population and a sample. In which of these is it important to distinguish between the two in order to use the correct formula? mean; median; mode; range; quartiles; variance; standard deviation. 2. The following numbers represent the weights in pounds of six 7year old children in Mrs. Jones' 2nd grade class. {25, 60, 51, 47, 49, 45} Find the mean; median; mode; range; quartiles; variance; standard deviation. 3. If the variance is 846, what is the standard deviation? 4. If we have the following data 34, 38, 22, 21, 29, 37, 40, 41, 22, 20, 49, 47, 20, 31, 34, 66 Draw a stem and leaf. Discuss the shape of the distribution. 5. What type of relationship is shown by this scatter plot? 45 40 35 30 25 20 15 10 5 0 0 5 10 15 20

6. What values can r take in linear regression? Select 4 values in this interval and describe how they would be interpreted.

7. Does correlation imply causation? 8. What do we call the r value. 9. To predict the annual rice yield in pounds we use the equation ˆ y = 859 + 5.76 x1 + 3.82 x2 , where x1 represents the number of acres planted (in thousands) and where x2 represents the number of acres harvested (in thousands) and where r2 = .94. a) Predict the annual yield when 3200 acres are planted and 3000 are harvested. b) Interpret the results of this r2 value. c) What do we call the r2 value? 10. The Student Services office did a survey of 500 students in which they asked if the student is part-time or full-time. Another question asked whether the student was a transfer student. The results follow. Transfer Non-Transfer Row Totals Part-Time Full-Time 100 170 110 120 230 210 290 500

Column Totals 270

a) If a student is selected at random (from this group of 500 students), find the probability that the student is a transfer student. P (Transfer) b) If...

...Prices are in thousands of dollars.
Those analyses are below:
Descriptive Statistics for Gulf View
Gulf View List Price | Gulf View Sales Price | Gulf View Days to Sell |
Mean | 474.0075 | Mean | 454.2225 | Mean | 106 |
Median | 437 | Median | 417.5 | Median | 96 |
Maximum | 975 | Maximum | 975 | Maximum | 282 |
Minimum | 169.9 | Minimum | 165 | Minimum | 28 |
Standard Deviation | 197.29003 | Standard Deviation | 192.5177534 | Standard Deviation | 58.2168207 |
Based on the chart, the mean was calculated by adding up the sum of the list and divide 40, which the number of the total listed prices. The mean is 474,007.5, which mean the average of the listed price. Secondly, the median was calculated by listing the number in numerical order from lowest to highest and located the number in the middle 437,000. The median represents the middle number of the listed price. After calculating the median I located the minimum and maximum based the lowest and highest data, which are 169,900 and 975,000. These represent the range of the listed price. Lastly, I used the formula to get the standard deviation of 197,290.03, which measures the variability.
To calculate the mean I added up the sum sale price and divide 40, which the number of the total sale prices. The mean is 454,222.5, which mean the average of the listed price. The median...

...
Investment Category Arithmetic Geometric Standard Deviation
MeanMean Of Return
Common Stocks 10.28% 8.81% 16.90%
Treasury Bills 3.54% 3.49% 3.20%
Long-term govern. Bonds 5.10% 4.91% 6.40%
Long-term corpor. Bonds 5.95% 5.65% 9.60%
Real Estate 9.49% 9.44% 4.50%
a). Explain why the geometric and arithmeticmeans are not equal and whether one or the other
may be more useful for investment decision making.
Arithmeticmean is the sum of a series of numbers divided by the count of that series of numbers.
Am = (a1+a2+a3+…+an)/n
Geometric mean is the nroot of a series of numbers by multiplying them.
Gm = n√(a1*a2*a3*…*an)
From the equations above it is obvious that the arithmeticmean is always greater than the geometric mean,or it could be equal.
The Geometric mean could be used for summarizing the effect on investment returns.
The Arithmeticmean could be used for calculating expected or average return over one period of time.
Therefore, if the intent is to accurately summarize and report past returns the geometric mean must be used.
b). For the time period indicated, rank...

...for input to a program. The information available for each student consists of a student identification number and the student's answers to ten true-false questions. The available data are as follows:
2. Student
3. identification Answer string
4.
5. 0080 FTTFTFTTFT
6. 0340 FTFTFTTTFF
7. 0341 FTTFTTTTTT
8. 0401 TTFFTFFTTT
9. 0462 TTFTTTFFTF
10. 0463 TTTTTTTTTT
11. 0464 FTFFTFFTFT
12. 0512 TFTFTFTFTF
13. 0618 TTTFFTTFTF
14. 0619 FFFFFFFFFF
15. 0687 TFTTFTTFTF
16. 0700 FTFFTTFFFT
17. 0712 FTFTFTFTFT
18. 0837 TFTFTTFTFT
Write a program that first reads in the answer string representing the ten correct answers (use FTFFTFFTFT as data). Next, for each student, read the student's data and compute and store the number of correct answers for each student in one array, and...

...PART A:
i) Male:
Female:
The mean value of life satisfaction for male is about 7.7459 while for female is 7.7101, which proves there is no significant different life satisfaction between male and female, thus gender does not affect life satisfaction a lot. But when it comes to sample variance, for male is 2.5684 while for female is 3.0081. From this pair of figures it is obvious that the life satisfaction for female is more flexible than male. Man’s life satisfactions are easy to be affected by other variables. I assume “GENDER” does not affect life satisfaction.
ii) Not alone:
Alone:
The mean value of satisfaction for those who is not alone is about 7.8055 meanwhile the figure for those who live alone is 7.32584. There is a big gap between these two data, which implies that “ALONE” have a significant impact on people life satisfaction. Additionally, sample variance for alone is much higher than for not alone, which implies other variables affect people who live alone severely and affect people not alone a little. I assume “ALONE” affects “LIFESAT” vitally, since people feel happier when they are accompanied by others but for those who are alone are easy to feel lonely and sad.
iii) Income 1:
Income 6:
The average life satisfaction for people with income level 1 is 7.4426 while for people with income level 6 is 8.2069, which means people with high income are more satisfy with their life than...

...hours they read a week.
7. Calculate the mean, median, and mode for your data as a whole.
3+4+5+5+5+8+10+14+18+20+20+25+25+30+30=222/15=14.8
The mean is 14.8
3,4,5,5,5,8,10,14,18,20,20,25,25,30,30
The median is: 14
3,4,5,5,5,8,10,14,18,20,20,25,25,30,30
The mode is: 5
8. Now calculate the mean, median, and mode of each of your classes or groups.
First, I will do the ages.
13+14+16+16+17+21+22+27+33+36+37+38+40+43+52=425/15=28.3
The mean is: 28.3
13,14,16,16,17,21,22,27,33,36,37,38,40,43,52
The median is: 27
13,14,16,16,17,21,22,27,33,36,37,38,40,43,52
The mode is: 16
Now I will do the genders. For the females.
5+5+8+10+14+18+20+20+25+25+30+30=210/12=17.5
The mean is:17.5
5,5,8,10,14,18,20,20,25,25,30,30
Since there was two numbers in the middle: 18+20=38/2=19
The median is: 19
5,5,8,10,14,18,20,20,25,25,30,30
The mode is: 5,20,25,30
For the males:
3+4+5=12/3=4
The mean is: 4
3,4,5
The median is: 4
3,4,5
The mode is: there is no mode for the males.
9. Indicate which measure of central tendency best describes your data and why. Then compare your results for each class or group, and point out any interesting results or unusual outcomes between the classes or groups. This is called a “comparative analysis” – using our results to explain interesting outcomes or differences (i.e., between men and women).
The measure of central tendency that...

...Measuring Service Quality Using SERVQUAL
Introduction Measuring the quality of a service can be a very difficult exercise. Unlike product where there are specific specifications such as length, depth, width, weight, colour etc. a service can have numerous intangible or qualitative specifications. In addition there is there expectation of the customer with regards the service, which can vary considerably based on a range of factors such as prior experience, personal needs and what other people may have told them.
SERVQUAL – a methodology for measuring service quality As a way of trying to measure service quality, researchers have developed a methodology known as SERVQUAL – a perceived service quality questionnaire survey methodology. SERVQUAL examines five dimensions of service quality:
• Reliability
• Responsiveness
• Assurance;
• Empathy, and
• Tangible (e.g. appearance of physical facilities, equipment, etc.)
For each dimension of service quality above, SERVQUAL measures both the expectation and perception of the service on a scale of 1 to 7, 22 questions in total. Then, each of the five dimensions are weighted according to customer importance, and the score for each dimension multiplied by the weighting. Following this, the Gap Score for each dimension is calculated by subtracting the Expectation score from the Perception score. A negative Gap score indicates that the actual service (the Perceived score) was less than what was expected (the...

...time. Assuming that the teams work independently, what is the probability that the task will not be completed in time? 12. An electronic chess game has a useful life that is exponential with a mean of 30 months. Determine each of the following: o. The probability that any given unit will operate for at least (1) 39 months, (2) 48 months, (3) 60 months. p. The probability that any given unit will fail sooner than (1) 33 months, (2) 15 months, (3) 6 months. q. The length of service time after which the percentage of failed units will approximately equal (1) 50 percent, (2) 85 percent, (3) 95 percent, (4) 99 percent. 13. A manufacturer of programmable calculators is attempting to determine a reasonable free-service period for a model it will introduce shortly. The manager of product testing has indicated that the calculators have an expected life of 30 months. Assume product life can be described by an exponential distribution. r. If service contracts are offered for the expected life of the calculator, what percentage of those sold would be expected to fail during the service period? s. What service period would result in a failure rate of approximately 10 percent? 14. Lucky Lumen light bulbs have an expected life that is exponentially distributed with a mean of 5,000 hours. Determine the probability that one of these light bulbs will last t. At least 6,000 hours. u. No longer than 1,000 hours. v....

...adequately described, since there are many factors surrounding post postpartum fatigue but this study gives a glimpse into some factors surrounding the condition.
EXERCISE 16 Questions to be Graded
1. The researchers analyzed the data they collected as though it were at what level of measurement?
d. Nominal
2. What was the mean posttest empowerment score for the control group?
The mean posttest empowerment score for the control group was 97.12
3. Compare the mean baseline and posttest depression scores of the experimental group. Was this an expected finding? Provide a rationale for your answer.
When comparing the mean baseline and post test depression scores of the experimental group, shows a 6 point difference in the mean values. It can be surmised that the study proved to be somewhat beneficial for the subject in the study since it may have served as an intervention.
4. Compare the mean baseline and posttest depression scores of the control group. Do these scores strengthen or weaken the validity of the research results? Provide a rationale for your answer.
The mean baseline and posttest depression scores of the control group have no change and stays at 10.40. These scores strengthen the validity of the research results because it shows that without the empowerment program, the control group’s depression has not...

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