Homework assignment for chapter 5:
Problems 5.4 (page 177),
5.4A die is thrown (1, 2, 3, 4, 5, 6) and a coin is tossed (H, T). (a) Enumerate the elementary events in the sample space for the die/coin combination. (b) Are the elementary events equally likely? Explain.

A) Elementary events are -
DIE
COIN123456
HEADSH1H2H3H4H5H6
TAILST1T2T3T4T5T6
B) YES, EACH EVENT IS EQUALLY LIKELY TO OCCUR. THERE ARE 12 POSSIBLE OUTCOMES AS A RESULT OF ROLLING OE DIE AND FLIPPING ONE COIN, THEREFORE THE LIKELYHOOD OF ANY ONE EVENT OCCURING IS 1/12.

5.13 (page 186),
5.13Given P(A) = .40, P(B) = .50, and P(A ∩ B) = .05, find - (a) P(A ∪ B)
P(A∪B)=P(A)+P(B)−P(A∩B)
= 0.40 + 0.50 - .05
= 0.85
(b) P(A | B)
P(A|B)=P(A∩B) for P(B)>0
P(B)
= 0.05
0.50
= 0.1
(c) P (B | A)
P(A|B)= P(A∩B) for P(A)>0
P(A)
= 0.05
0.40
= 0.125
(d) Sketch a Venn diagram.

5.15 (page 186)
5.15Samsung ships 21.7 percent of the liquid crystal displays (LCDs) in the world. Let S be the event that a randomly selected LCD was made by Samsung. Find - (a) P(S) = 0.217
(b) P(S′) = P(S) + P(S’) = 1
= 0.217 + S’ = 1
= S’ = 1 - 0.217
= S’ = 0.783
(c) the odds in favor of event S, and
P(S)=P(S)= 0.217 / 0.783 = 0.277
P(S’)1-P(S)

(d) the odds against event S.
P(S’)=1- P(S)= 0.783 / 0.217 = 3.608
P(S)P(S)

Problems 5.22 (page 190),
5.22Which pairs of events are independent?
a.P(A) = .60, P(B) = .40, P(A ∩ B) = .24.
b.P(A) = .90, P(B) = .20, P(A ∩ B) = .18.
c.P(A) = .50, P(B) = .70, P(A ∩ B) = .25.

5.23 (page 190)
5.23The probability that a student has a Visa card (event V) is .73. The probability that a student has a MasterCard (event M) is .18. The probability that a student has both cards is .03. (a) Find the probability that a student has either a Visa card or a MasterCard. (b) In this problem, are V and M independent? Explain....

...WILMINGTON UNIVERSITY
CLASS INFORMATION & SCHEDULE
FACULTY MEMBER: TERM:
COURSE TITLE:
COURSE NUMBER: MBA 6100
OFFICE HOURS/METHOD OF CONTACT:
I. METHODOLOGY:
A. Teaching Methods: Distance learning course
Announcements and instructor guidance; assigned readings; homework problems, chapter information, textbook power point files, and case study.
This course requires stable and regular access to the internet as well as students’ ability to work independently and possess functional computer skills including proficiency with Microsoft Office. The course requires assignments completed on a weekly basis.
B. Pre-requisites
a. 6 credits of undergraduate accounting OR Wilmington University course MHR 7830 Accounting & Finance for Managers. Students are expected to have a basic understanding of financial accounting.
b. Proficiency with Microsoft Excel software.
C. Course details
a. Assignments and other course activities are required to be completed weekly.
b. The online week starts Monday and ends Sunday night, 11:59 pm EST.
c. All homework, case study, and exam preparation is required to be individual work.
d. Questions about homework and other course-related items are to be posted on the discussion board so that all students have an opportunity to read them. Often many students may have the same question. With the exception of items posted on Saturday or Sunday, expect replies in the form of a discussion post or Blackboard...

...Statistics 5371 Final Exam Review Fall 2012.
1. Suppose a researcher wants to design a new study with a power of 0.8 and a significance of 0.05 to test whether the caffeine content for a brand of coffee is really 100mg. A previous study gave a mean caffeine level for this brand of 110 mg and a standard deviation of 7 mg. Use PROC POWER to determine how many cups of coffee need testing.
2. A company did a study to estimate the effect of different promotional strategies on the market share of one of their products. Over a period of 36 months they varied their promotional strategy. There are four strategies: Ordinary (standard pricing and advertising); Discount (price discount with standard advertising); Promotion (standard pricing, enhanced advertising); and Both (price discount with enhanced advertising). Each month one of the strategies was employed and the market share (the percentage of purchasers of the given product type that selected the company's product). Higher market share is better for the company. The table below records the number of months in which each strategy was used (n) and a summary of the market share results in those months.
|Strategy |Pricing |Advertising |n |mean |SD |
|Ordinary |standard |standard |8 |2.40 |0.12 |
|Discount |Discount...

...Descriptive Statistics
QNT/561
July 29, 2014
Descriptive Statistics
Job Satisfaction
Central Tendency: Mean=8.5 JDI
Dispersion: Standard Deviation=1.16 JDI
Number: 139
Min/Max: 7 to 10 JDI
Confidence Interval: 8.36 to 8.75 JDI
*JDI=Job Descriptive Index
Months of Employment
Central Tendency: Mean= 136.24 Months
Dispersion: Standard Deviation= 117.26 Months
Number: 139
Min/Max: 1 to 359 Months
Confidence Interval: 116.74 to 155.73 Months
Descriptive Statistics Interpretation
Interpretation
Months of Employment
CHJ made a decision to choose 139 random employees. Their months of employment varied between a range of 1 and 359 days the employees estimated months employed with the company was around their months of employment were 136 days, either adding or subtracting 28 days , Nearly half of counted to be 136 days. CHJ strongly believes a 95% population months of employment average is between 116 and 165 days.
Job satisfaction
CHJ carefully selected One hundred employees the range was between 7 and 10. Half of the employees choose 8.75 which meant they were satisfied with their job. The other employees who were surveyed choose 8.6 which mean they were satisfied but CHJ could do a little more improvements.
Appendix A
Raw data used in the analysis
Appendix B
Charts and Tables
Frequency of Male and Female Employees by Department
Legend: Blue=Males Red=Females
Appendix C...

...Tutorial Questions for Exploratory Data Analysis – Summary Statistics & Graphs
1. Customers of a particular bank rated the service provided by the bank on a scale of one to ten, correct to one decimal point. The bank categorised their customers as either (1) Private Account holders or (2) Business Account holders. The information below summarises customer attitudes towards the quality of service provided by the bank. Use the output to answer the questions below.
a) Briefly describe and compare the distributions of results for the two groups of customers. You should mention appropriate measures of centre and spread, and any other points you feel may be of interest.
b) The survey results were described as being symmetrically distributed. What does this mean, and what evidence is there below to support this claim?
c) The standard deviation of the ratings for the Private Account holders is 1.336. What does this value mean?
d) Verify the value of the standard error of the mean (SE Mean) for the Business Account holders.
e) Determine a 90% confidence interval for the true mean of the Business Account holders and interpret the result in the context of the situation.
Descriptive Statistics: Quality
Variable Use N N* Mean SE Mean StDev Minimum Q1 Median Q3
Quality 1 45 0 5.971 0.199 1.336 3.700 4.800 6.000 7.050
2 30 0 8.323 0.172 0.941 6.200 7.675 8.400 9.025
Variable Use...

...CGE13101 Understanding Society Through Statistical Reasoning
Tutorial 3
1. A wholesale appliance distributing firm wished to study its accounts receivable for two successive months. Two independent samples of 50 accounts were selected for each of the two months. The results have been summarized below.
Frequency distribution for accounts receivable
Amount
March Frequency
April Frequency
$0 - under $2,000
$2,000 - under $4,000
$4,000 - under $6,000
$6,000 - under $8,000
$8,000 - under $10,000
$10,000 - under $12,000
6
13
17
10
4
0
10
14
13
10
0
3
Totals
50
50
Plot the frequency histogram for each month.
2. For the data below, reporting employees’ absences in a particular department during a three-month period, determine the values of the mean and median. The number of days absent is reported to the nearest half-day.
Employee Number
ID of days absent
001 5.0
002 0.0
003 1.5
004 3.0
005 1.0
006 2.0
007 9.0
008 5.5
009 1.0
010 4.0
011 2.0
012 2.0
3. Comment upon and interpret the differences in the values of the mean and median computed in Question 2. Which of these values best represents the “typical” number of days that employees were absent?
4. Which measure of central tendency would be most useful in each of the following instances?
(a) The production manager for a manufacturer of glass jars, who is...

...2.41
a.
Number of Internet Searches
Percentages
A few search results 23
First page of search results 39
First two pages 19
First three pages 9
More than first three pages 10
b.
Pie charts and bar graphs are two ways of representing data in a visual format and they both have their strengths and weaknesses with regards to how data and information is displayed. I do not think either one is best. It just depends on what you want the data to depict.
Therefore if I wanted to ascertain the quantity of searching that was done most frequently or the least I would use a bar chart. Likewise I would use the pie chart to depict how the distribution of the different categories relates to the entire population.
c.
What I conclude is that a small amount of people scanned more than the first two pages of search results and the majority of people scanned between a few searches and the first page of search results.
2.51
a.
0.55 0.57 0.57 0.68 0.72. 0.77 0.86
0.90 0.92 0.94 1.14 1.41 1.42 1.51
b.
Stem Leaf
0.5 577
0.6 8
0.7 27
0.8 6
0.9 024
1.1 4
1.4 12
1.5 1
c.
The stem-and-leaf display provides more information than the ordered array because in addition to ordering the...

...Definition of Statistics, Scope and importance of Statistics:Statistics in business and management: Frequency distribution: Parts of table:
Definition of Statistics:
1. Statistics can be defined as the collection presentation and interpretation of numerical data.- Croxton and Crowed.
2. Statistics are numerical statement of facts in any department of enquiry placed interrelation to each other.- Bouly.
3. Statistics are measurement, enumerations or estimates of natural or social phenomena systematically arrangement to exhibit their inner relation.- Conner.
4. By Statistics we mean quantitative data affected to a marked extend by a multiplicity of causes. – Youle and Kendal.
5. The science of Statistics is essentially a branch of applied mathematics and can be regarded as a mathematics applied to observation data.- R.A fisher.
Scope and importance of Statistics:
1. Statistics and planning: Statistics in indispensable into planning in the modern age which is termed as “the age of planning”. Almost all over the world the govt. are re-storing to planning for economic development.
2. Statistics and economics: Statistical data and techniques of statistical analysis have to immensely useful involving economical problem. Such as wages, price, time series analysis, demand analysis.
3. Statistics and business: Statistics is an irresponsible tool of production control. Business executive are relying more and more on statistical techniques for studying...

...1.1 For the following situation, indicate whether the statistical
application is primarily descriptive or inferential.
“The manager of Ann’s Fabric Shop has collected data for 10 years
on the number of each type of dress fabric that has been sold at the
store. She is interested in making a presentation that will illustrate
these data effectively.”
Suggested Answer:
This application is primarily descriptive in nature. The owner
wishes to develop a presentation. He will most likely use charts,
graphs, tables and numerical measures to describe his data.
1.2 Consider the following graph that appeared in a company
annual report. What type of graph is this is this? Explain
This is clearly a bar chart. A bar chart displays values associated
with categories. In this case the categories are the departments
at the food store. The values are the total monthly sales (in
dollars) in each department.
Note: A histogram has no gaps and the horizontal axis represents
the possible values for a numerical variable.
1.18
Explain the difference between a closed-end question and an
open-end question.
Closed-end questions require the respondent to select from a
short list of defined choices.
Open-end questions allow respondents the freedom to respond
with any value, words, or statements of their own choosing.
Note: Demographic questions are questions relating to
respondent’s characteristics, backgrounds, and attributes.
Example: Gender, Marital Status etc...