Problem 3.88
Refer to the Baseball 2005 data, which reports information on the 30 major league teams for the 2005 baseball season. a. Select the variable team salary and find the mean, median, and the standard deviation. b. Select the variable that refers to the age the stadium was built. (Hint: Subtract the year in which the stadium was built from the current year to find the stadium age and work with that variable.) Find the mean, median, and the standard deviation. c. Select the variable that refers to the seating capacity of the stadium. Find the mean, median, and the standard deviation.

Solution
The calculations for this problem appear in the attached Excel file “QNT-561 Week #6 Problem Set.xls”. The values found were:

a. For the Team Salaries:
Mean73063563.27
Median66191416.50
Standard Deviation34233970.30

b. For the Stadium Age:
Mean28.20
Median17.50
Standard Deviation25.94

c. For the Seating Capacity:
Mean45912.60
Median44174.00
Standard Deviation5894.20

Problem 5.56
Assume the likelihood that any flight on Northwest Airlines arrives within 15 minutes of the scheduled time is .90. We select four flights from yesterday for study. a. What is the likelihood all four of the selected flights arrived within 15 minutes of the scheduled time? b. What is the likelihood that none of the selected flights arrived within 15 minutes of the scheduled time? c. What is the likelihood at least one of the selected flights did not arrive within 15 minutes of the scheduled time?

Solution
a. Since the flights are independent, the probability of 4 of them arriving within 15 of the scheduled time is:

So, the probability of this event is 0.6561

b. The probability that none of the flights arrives within 15 minutes of the scheduled time is:

So, the probability of this event is 0.0001

c. The probability that at least one of the flights didn’t arrive within 15 minutes of the scheduled time, is give by:...

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QNT561 Final Exam
1) Which of the following measures of central location is affected most by extreme values? A. MeanB. MedianC. Mode D. Geometric mean
2) A correlation matrix…A.Shows all simple coefficients of correlation between variablesB. shows only correlations that are zeroC. shoes the correlations that are positiveD. shows only the...

...Individual Assignment: Types of Surveys
Question 5 on p. 270 of Business Research Methods.
Patricia Figueroa
November 17, 2009
Qnt561
Christopher Ajagu
In the following situations, decide whether you would use a personal interview, telephone survey, or self-administered questionnaire. Give your reasons.
a A survey of the residents of a new subdivision on why they happened to select that area in which to live. You also...

...Week 6 Team D Discussion – Regression Analysis
QNT/561
November 28, 2011
Jonathan Edelman
Week 6 Team D Discussion – Regression Analysis
The following paper summarizes the review and discussion process undertaken by Team D examining four articles that each detailed one or more applications of regression analysis.
Comparison Methods of Multiple Linear Regressions in Fish Landing
Multiple linear regression (MLR) is used to analyze the...

...Central Limit Theorem and Confidence Intervals Problem Sets
Tiffany Blount
QNT561
September 7, 2010
Michelle Barnet
University of Phoenix
Central Limit Theorem and Confidence Intervals Problem Sets
Chapter 8 Exercises:
21. What is sampling error? Could the value of the sampling error be zero? If it were zero, what would this mean?
* Sampling error is the difference between the statistic estimated from a sample and the true population statistic. It...

...Resource: Statistical Techniques in Business &Economics
Prepare responses to the following exercises from the text:
Exercises 80, 82, and 87 (Ch. 3)
80. Creek Ratz is a very popular restaurant located along the coast of northern Florida. They serve a variety of steak and seafood dinners. During the summer beach season, they do not take reservations or accept “call ahead” seating. Management of the restaurant is concerned with the time a patron must wait before being seated for dinner....

...27,28,28,28,29,34,37,39,40,44,44,45,50,51,56,61,61,64,65,67
- The median of the wait times is 39 minutes.
c. Find the range of the times.
Range is defined as the difference between the largest and the smallest values in the data set.
QNT561 – Week 1 Problem Set 3
- The largest value in the set of times is 67 and the smallest is 23.
- 67-23
= 44
d. Find the standard deviation of the times.
To do this, I first took...

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In this paperwork of QNT561 Final Exam you will find the answers on the next questions:
1. A difference between calculating the sample mean and the population mean is
2. Which of the following measures of central location is affected most by extreme values?
3. Which level of measurement is required for the median?
4. In which of the following distributions is the probability of a success usually small?
5. Which of the following is...

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Name
Assignment
QNT/561
Date
Descriptive Statistics
Sales (in USD)
The distribution is normally distributed.
Central Tendency:
Mean = 42.84 dollars.
Dispersion:
Standard deviation = 9.073 dollars.
Count:
100
Min/Max:
Min is $23.00; Max is $64.00
Confidence Interval (alpha = 0.05):
$41.06 to $44.62
The histogram is present in Appendix A; the descriptive statistics are present in Appendix B.
Age
The distribution is not normally...