{"id":89985,"date":"2022-08-23T00:16:20","date_gmt":"2022-08-23T00:16:20","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/business-stat-quiz-numerical-analysis-homework-help\/"},"modified":"2022-08-23T00:16:20","modified_gmt":"2022-08-23T00:16:20","slug":"business-stat-quiz-numerical-analysis-homework-help","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/business-stat-quiz-numerical-analysis-homework-help\/","title":{"rendered":"Business stat quiz | Numerical analysis homework help"},"content":{"rendered":"
\n

USE THIS INFORMATION BELOW FOR THE NEXT 3 QUESTIONS (1-3)<\/span><\/strong><\/p>\n

In order to estimate the average time spent on the computer terminals per student at a local university, data were collected from a sample of 144 business students over a one-week period.\u00a0 Assume the population standard deviation is 1.2 hours.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The standard error of the mean is approximately<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.5<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.014<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.100<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.133<\/span><\/p>\n

\u00a0<\/span><\/p>\n

2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 With a 0.95 probability, the margin of error is approximately<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.261<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.196<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.215<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.96<\/span><\/p>\n

\u00a0<\/span><\/p>\n

3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 If the sample mean is 9 hours, then the 95% confidence interval is approx.<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.04 to 110.96 hours<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8.80 to\u00a0 9.20 hours<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7.80 to 10.20 hours<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8.74 to 9.26 hours<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

11.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>It is desired to estimate the average total compensation of CEOs in the Service industry. Data were randomly collected from 18 CEOs and the 97% confidence interval was calculated to be ($2,181,260, $5,836,180). Which of the following interpretations is correct?<\/span><\/p>\n

a) 97% of the sampled total compensation values fell between $2,181,260 and $5,836,180.<\/span><\/p>\n

b) We are 97% confident that the mean of the sampled CEOs falls in the interval $2,181,260 to $5,836,180.<\/span><\/p>\n

c)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>In the population of Service industry CEOs, 97% of them will have total compensations that fall in the interval $2,181,260 to $5,836,180.<\/span><\/p>\n

d)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>We are 97% confident that the average total compensation of all CEOs in the Service industry falls in the interval $2,181,260 to $5,836,180.<\/span><\/p>\n

\u00a0<\/span><\/strong><\/p>\n

Use the information in the table below for questions 12 – 16<\/span><\/strong><\/p>\n

The following are the durations in minutes of a sample of long-distance phone calls made within the continental United States reported by one long-distance carrier.<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Relative<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Time (in Minutes)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Frequency<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0 but less than 5\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.37<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5 but less than 10\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.22<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10 but less than 15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.15<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 15 but less than 20\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.10<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20 but less than 25\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.07<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25 but less than 30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.07<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 30 or more\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.02<\/span><\/p>\n

12. If 1,000 calls were randomly sampled, how many calls lasted 10 minutes or more?<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a) 220<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b) 370<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c) 410<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d) 590<\/span><\/p>\n

\u00a0<\/span><\/p>\n

13. If 100 calls were randomly sampled, how many calls lasted less than 15 minutes?<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a) 10<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b) 14<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0c) 26<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d) 74<\/span><\/p>\n

14. If 10 calls lasted 30 minutes or more, how many total calls were in the sample?<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a) 10<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b) 185<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c) 295<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d) 500<\/span><\/p>\n

\u00a0<\/span><\/p>\n

15. What is the cumulative relative frequency for the % of calls that lasted < 10 minutes?<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a) 0.10<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b) 0.59<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c) 0.76<\/span><\/p>\n

\u00a0 d) 0.84<\/span><\/p>\n

\u00a0<\/span><\/p>\n

16. If 100 calls were sampled, _______ of them would have lasted 15 or more minutes.<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a) 26<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b) 74<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c) 10<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d) None of the above.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

17.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Since the population size is always larger than the sample size, then the sample statistic<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 can never be larger than the population parameter<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 can never be equal to the population parameter<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 can never be zero<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 can never be smaller than the population parameter<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 e.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 None of the above answers is correct.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

18.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The measure of location that is the most likely to be influenced by extreme values in the data set is the<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 range<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 median<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 mode<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 mean<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 e.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 None of the above answers is correct.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

19.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 For a normal distribution, a negative value of z indicates<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 a mistake has been made in computations, because z is always positive<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 b.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 the area corresponding to the z is negative<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 c.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 the z is to the left of the mean<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 d.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 the z is to the right of the mean<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 e\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 None of the above answers is correct.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

20.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>A confidence interval was used to estimate the proportion of statistics students that are females. A random sample of 72 statistics students generated the following 90% confidence interval: (0.438, 0.642). Based on the interval above, is the population proportion of females equal to 0.60?<\/span><\/p>\n

a)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>No, and we are 90% sure of it.<\/span><\/p>\n

b)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>No. The proportion is 54.17%.<\/span><\/p>\n

c)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Maybe. 0.60 is a believable value of the population proportion based on the information above.<\/span><\/p>\n

d)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Yes, and we are 90% sure of it.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

USE THIS INFORMATION BELOW FOR THE NEXT 3 QUESTIONS (1-3) In order to estimate the average time spent on the computer terminals per student at a local university, data were collected from a sample of 144 business students over a one-week period.\u00a0 Assume the population standard deviation is 1.2 hours. \u00a0 1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The standard error […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-89985","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/89985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=89985"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/89985\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=89985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=89985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=89985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}