# QNT 561 NERD Logical Brains/qnt561nerd.com

QNT 561 Final Exam Guide (New)

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1. The mean gas mileage for a hybrid car is 56 miles per gallon. Suppose that the gasoline mileage is approximately normally distributed with a standard deviation of 3.2 miles per gallon.

2. What conditions must n satisfy to make the x2 test valid?

3. To use the t-statistic to test for a difference between the means of two populations, what assumptions must be made about the two populations? About the two samples?

4. Studies of managers from two countries in the 1970s found sharp differences of opinion toward quality management. To find out if these differences continue to exist, researchers surveyed 100 managers in each country in the electronics manufacturing industry. The accompanying table gives the percentages of managers from each country who agree with each of 10 randomly selected statements regarding quality. Complete parts a through c.

5. Consider the horizandal box plot shown to the right.

65 were built downtown 28 in a central city, and 29 in a suburban area. Complete parts a through e.

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1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?

2. Which of the following is a characteristic of the F distribution?

3. For a chi-square test involving a contingency table, suppose the null hypothesis is rejected. We conclude that the two variables are __________.

### 4. A sales manager for an advertising agency believes that there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. What is the dependent variable?

### 5. Which of the following is most appropriately displayed with a frequency table?

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How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.

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When would you use Chebyshev’s theorem and the empirical rule in business? How are they calculated? Provide one real-life example that requires Chebyshev’s theorem and one that requires the empirical rule.

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QNT 561 Week 1 Individual My Statslab Problem Set

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1. What is statistics?

2. Explain the difference between descriptive and inferential statistics.

3. Explain the difference between qualitative and quantitative data.

4. Explain how populations and variables differ.

5. Explain how populations and samples differ.

6. What is a representative sample?

7. Explain the difference between a population and a process.

8. Define statistical thinking.

45. The number of semester hours of college credit taken by first-time candidates for a certain professional exam has a distribution with a mean of 127 hours and a standard deviation of 14 hours. Consider a random sample of 100 first-time candidates for the exam and let represent the mean number of hours of college credit taken for the sample. Complete parts a through e below.

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Chapter 2:

Ex 4) Two Thousand three hundred frequent business travelers are asked which Midwestern city they prefer: Indianapolis, Saint Louis, Chicago or Milwaukee. 388 liked Indianapolis best, 450 liked Saint Louis, 1212 liked Chicago and the remainder prefers Milwaukee. Develop a frequency table and a relative frequency table to summarize this information (Round relative frequency to 3 decimal places.)

Ex 6) A small business consultant is investigating the performance of several companies. The fourth-quarter sales for last year (in thousands of dollars) for the selected companies were:

The consultant wants to include a chart in his report comparing the sales of six companies. Identify a bar chart that compares the fourth-quarter sales of these corporations.

Ex 12) the quick change oil company has a number of outlets in the metropolitan Seattle area. The daily number of oil changes at the Oak Street outlet in the past 20 days is:

a. How many classes would you recommend?

d. Organize the number of oil changes into a frequency distribution.

Ex 14) the food services division of Cedar River Amusement Park Inc, is studying the amount that families who visit the amusement park spend per day on food and drink. A sample of 40 families who visited the park yesterday revealed they spend the following amounts:

a. Organize the data into a frequency distribution, using seven classes and 15 as the lower limit of the first class. What class interval did you select?

b. Where do the data tend to cluster?

Ex 18) Ecommerce.com, a large Internet retailer, is studying the lead time (elapsed time between when an order is placed and when it is filled) for a sample of recent orders. The lead time are reported in days.

a. How many orders were studied?

b. What is the midpoint of the first class?

c. What are the coordinates of the first class for a frequency olygon assuming we draw a frequency polygon using the midpoints?

Ex 20) The following cumulative frequency polygon shows the selling price ($000) of house sold in the Billings, Montana, area

a. How many orders were studied?

b. What is the class interval?

c. One hundred homes sold for less than what amount?

d. About 75% of the homes sold for less than what amount?

e. Estimate the no of homes $150,000 up to $200,000 class.

f. About how many homes sold for less than $225,000?

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What are some examples of operational definitions in research design within your profession? For example, in the education field, graduation rate and retention rate are important operational definitions to measure progress of students. Likewise other professions have common metrics and definitions. Identify some metrics and operational definitions from your own career or a profession that you know well. Tell us why you think it is important!

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What is the purpose of sampling? What are some concerns and dangers of sampling? How important is the sample design to data validity? Explain. Provide an example where a sample might misrepresent data validity. For example, reflect on the current political campaign and the pollsters!

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QNT 561 Week 2 Individual My Statslab Problem Set

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1. A random sample of 87 observations produced a mean = 25.7 and a standard deviation s = 2.6.

2. Health care workers who use latex gloves with glove powder on a daily basis are particularly susceptible to developing a latex allergy. Each in a sample of 50 hospital employees who were diagnosed with a latex allergy based on a skin-prick test reported on their exposure to latex gloves. Summary statistics for thr number of latex gloves used per week are = 19.4 and s = 11.6. Complete parts (a) — (d).

3. Each child in a sample of 62 low-income children was administered a language and communication exam. The sentence complexity scores had a mean of 7.63 and a standard deviation of 8.92. Complete parts a through d.

4. The random sample shown below was selected from a normal distribution.

4, 10, 7,….2. Complete parts a and b.

5. Periodically, a town water department tests the drinking water of homeowners such as lead. The lead levels in water specimens collected for a sample of 10 residents of the town had a mean of 3.1 mg/L and a standard deviation of 1.2 mg/L. Complete parts a through c.

the number of the 400 measurements failing into each of the measurements classes. Then graph a frequency histogram for these data.

12. Five banks have been ranked by the amount charged to credit and debit cards issued by the banks. The table to the right gives the total amount charged in 2007 for the top ranked banks.

13. Compare the z-scores to decide which of the x values below lie the greatest above the mean and the greatest distance below the mean.

14. Consider the horizandal box plot shown to the right.

15. Educators are constantly eveluating the efficacy of public schools in the education and training of tudents. One quantitative assessment of change over time is the difference in scores on the SAT. The table below contains the average SAT scores for 10 states for the years 1988 and 2005.

16. The mean gas mileage for a hybrid car is 56 miles per gallon. Suppose that the gasoline mileage is approximately normally distributed with a standard deviation of 3.2 miles per gallon.

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Chapter 5:

Ex 4) A large company must hire a new president. The Board of Directors prepares a list of five candidates, all of whom are equally qualified. Two of these candidates are members of a minority group. To avoid bias in the selection of the candidate, the company decides to select the president by lottery.

a. What is the probability one of the minority candidate is hired?

b. Which concept of probability did you use to make this estimate?

Ex 14) The chair of the board of directors says, “ There is a 50% chance this company will earn a profit, a 30% chance it will break even, and a 20% chance it will lose money next quarter”:

a. Use an addition rule to find the probability the company will not lose money next quarter

b. Use the complement rule to find the probability it will not lose money next quarter.

Ex 34) Use Bayes’ theorem to determine P(A3| B1)

Chapter 6:

Ex 14) A normal population has a mean of 12.2 and a standard deviation of 2.5

a. Complete the z value associated with 14.3

b. What proportion of the population is between 12.2 and 14.3?

c. What proportion of the population less than 10?

Ex 18) A normal population has a mean of 80.0 and a standard deviation of 14.0

a. Compute the probability of a value between 75.0 and 9.0

b. Compute the probability of a value of 75.0 or less

c. Compute the probability of a value between 55.0 and 70.0

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Identify an organization or business for your Learning Team research project.

Describe the products or services it provides.

Identify a problem or dilemma faced by the organization that could be addressed by research.

Discuss the problem as a team.

Discuss your selected problem or dilemma with your faculty member to ensure that it is at an appropriate scope for the course.

Develop a purpose statement for your research project.

Create a draft of the research questions addressing the problem and purpose statements.

Format your paper consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

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QNT 561 Week 2 Team Assignment Business Research Project Part 1 Formulation of the Research Problem

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Identify an organization from any member in your Learning Team or an organization with which your team is familiar. If an actual company is used, disguise its name with a pseudonym.

Identify one independent variable and one dependent variable based on the business. Operationalize these variables if they are too abstract to measure.

Develop a real or realistic research question for the company you chose and the two variables. Include a background, a business problem and the team’s role of no more than 500 words.

Develop a research question from the two variables. Keep you research question simple, easy to understand and able to be quantified with research data.

Use the Research Question Two Variable Handout for guidance.

Create hypothesis statements based on the research question.

Format your paper consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

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In your organization’s management development program, there was a heated discussion between people who claimed that theory is impractical and not effective, and others who claimed that effective theory is the most practical approach to problems. What position would you take and why?

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You observe female sales representatives having lower customer defections than male sales representatives. What concepts and constructs would you use to study this phenomenon? How might the concepts or constructs relate to explanatory hypotheses? Explain.

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QNT 561 Week 3 Individual Mystatslab Problem Set

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1. Which hypothesis, the null or the alternative, is the status-quo hypothesis?

2. A university economist conducted a study of elementary school lunch menus. During the state-mandated testing period, school lunches averaged 890 calories. The economist claimed that after the testing period ended, the average caloric content of the school lunches increased/dropped significantly. Set up the null and alternative hypothesis to test the economist’s claim.

3. Suppose the mean GPA of all students graduating from a particular university in 1975 was 2.40. The register plans to look at records of graduating last year to see if the mean GPA has decreased. Define notation and state the null and alternative hypothesis for this investigation.

4. A random sample of 100 observations from a population with standard deviation 58 yielded a sample mean of 111. Complete parts a through c.

5. A final scores of games of a certain sport were compared against the final point spreads established by oddsmakers. The difference between the game outcome and point spread (called a point-spread error) was calculated for 250 games. The mean and

25. School buying is a form of aggressive behavior that occurs when a student is exposed repeatedly to negative actions from another student. In order to study the effectivenss of an antibullying policy at elementary schools, a survey of over 2,000 elementary school children was conducted. Each student was asked if he or she ever bullied another student. In a sample of 1358 boys, 745 Claimed they had never bullied another student. In a sample of 1379 girls, 966 claimed they had never bullied another student. Complete parts a through f below.

26. A study was conducted to determine the demographics of two types of product managers. Independent samples of n1 = 99 consumer/commercial group, 41%(1) of the product managers are 40 years of age or older; in the industrial group, 55%(2) are 40 or more years old. Make an interference about the differnce between the true proportions of consumer/commercial and industrial product managers who are at least 40 years old.

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Chapter 8:

Ex 2) The following is a list of 29 hospitals in the Cincinnati (Ohio) and

d. Greater than 77

Chapter 9:

Ex 4) Suppose you know σ and you want an 85% confidence level. What value would you use as z in formula of confidence interval for a population mean?

Ex 6) A research firm conducted a survey to determine the mean amount steady smokers spend on cigarettes during a week. They found the distribution of amounts spent per week followed the normal distribution with a population standard deviation of $5. A sample of 64 steady smokers revealed that x = 20

a. What is the 95% confidence interval estimate of μ?

Ex 10) Use Appendix B.5 to locate the value of t under the following conditions.

a. The sample size is 15 and the level of confidence is 95%

b. The sample size is 24 and the level of confidence is 98%

c. The sample size is 12 and the level of confidence is 90%

Ex 26) Past surveys reveal that 30% of tourists going to Las Vegas to gamble spend more than $1,000. The visitor’s Bureau of Las Vegas wants to update this percentage.

a. The new study is to use the 90% confidence level. The estimate is to be within 1% of the population proportion. What is the necessary sample size?

b. The bureau feels the sample size determined above is too large. What can be done to reduce the sample? Based on your suggestions, recalculate the sample size.

Ex 28) Forty-nine items are randomly selected from a population of 500 items. The sample mean is 40 and the sample standard deviation 9.

Develop a 99% confidence interval for the population mean

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QNT 561 Week 3 Team Assignment Business Research Project Part 2 Research Plan (2 Papers)

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This Tutorial contains 2 different Papers

Develop a plan for your Business Research Project in approx. 800 words.

Revise the research questions based on instructor feedback from the previous week.

Identify population and samples for your research.

Describe who will be chosen and how they will be accessed.

Determine the data collection process.

Describe the format of the survey and the basic item content to be gathered.

Determine how the survey will be distributed and collected.

Format your plan consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

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QNT 561 Week 4 Discussion Descriptive Statistics

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Create a Microsoft® Excel® spreadsheet with the two variables from a dataset for your choosing.

Analyze the data with MegaStat®, StatCrunch®, Microsoft® Excel®or other statistical tool(s), including:

(a) Descriptive stats for each numeric variable

and

(b) Histogram for each numeric variable

and either © or (d)

© Bar chart for each attribute (non numeric) variable

(d) Scatter plot if the data contains two numeric variables

Determine the appropriate descriptive statistics.(a) For normally distributed data use the mean and standard deviation.

(b) For significantly skewed data use the median and interquartile range.

Submit the spreadsheet/work and explain your thought process and results.

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does technological advancement affect the ability to collect data? Provide examples. Does this advancement increase the chance for errors? Explain.

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What is the importance of pretesting questions and instruments? What are risks of not doing this? Provide an example.

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QNT 561 Week 4 Individual Mystatslab Problem Set

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1. Researchers conducted a survey of a representative sample of over 1,000 drivers. Based on how often each driver engaged in road behaviour, a road rage score was given. The drivers were also grouped by annual income. The data were subjected to an analysis of variance, with the results summarized in the table.

2. Researchers surveyed a random sample of 25 employees who were enrolled in a certain program at one of three universities. These individuals were divided into four distinct groups, 1, 2, 3, and 4, depending on their job situation at a previous or current firm. The sampled employees completed a questionnaire on their ethical perceptions of downsizing. One item asked employees to respond to

working on the road claims the mean skidding distance is atleast 398 meters. Is there sufficient evidence to refute this claim? Use α = 0.05.

12. Suppose a consumer group rated 47 brands of toothpaste based on whether or not the brand crries an American Dntal Association (ADA) seal verifying effective decay prevention. The results of a hypothesis test for the proportion of brands with the seal are shown to the right. Complete parts a through c.

13. To use the t-statistic to test for a difference between the means of two populations, what assumptions must be made about the two populations? About the two samples?

14. A study was done to examine whether the perception of service quality at hotels differed by gender. Hotel guests were randomly selected to rate service items on a 5-point scale. The sum of the items for each guest was determined and summary of the guest scores are provided in the table. Complete parts a and b.

15. To determine if winning a certain award leads to a change in life expectancy, researchers sampled 761 award winners and matched each one with another person of the same sex who was in the same profession and was born in the same era. The ilfespan of each pair was compared. Complete parts a through c below.

16. School bullying is a form of aggressive behaviour that occurs when a student is exposed repeatly to nagative actions from another student. In order to study the effectiveness of an antibullying policy at elementary schools, a survey of over 2,000 elementary school children was conducted. Each student was asked if he or she ever bullied another student. In a sample of 1358 boys, 747 claimed they had never bullied another student. In a sample of 1379 girls, 964 claimed they had never bullied another student.

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Chapter 10:

g. State your decision regarding null hypothesis?

h. The decision for F value at 0.05 significance is:

i. Can we conclude there is a difference in the mean number of surgeries performed by hospital or by day of the week?

Chapter 16:

Ex 16) The null hypothesis and the alternate hypothesis are:

a. State the decision rule, using 0.05 significance level

b. Compute the value of chi-square

c. What is your decision regarding Ho?

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This Tutorial contains 2 different sets

Create a draft of the survey.

Conduct a pilot pretest having another Learning Team in the class to provide feedback for your team. Chet will create a message thread for each team to place their survey in the Class Discussion Tab.

Revise the survey based on the feedback provided by your classmates.

Describe in a paragraph or two at the end of your survey what feedback was provided by the other team and how did that impact this final survey from you initial draft.

Click the Assignment Files tab to submit your final survey that you deploy.

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What is the value of performing hypotheses tests to solve problems related to business and operations management? Provide specific examples.

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What are differences between dependent and independent samples? Provide examples. What are implications for determining the tests used to analyze data?

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QNT 561 Week 5 Individual Mystatslab Problem Set

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12. What conditions must n satisfy to make the x2 test valid?

13. There has been a recent trend for sports franchises in baseball, football, basketball, and hockey to build new stadiums and ballsparks in urban, downtown venues. A magazine investigated whether there has been a significanr suburban-to-urban shift in the location of major sport facilities. In 1985 40% of all major sports facilities were located downtown, 30%in central city, and 30% in suburban areas. In contrast, of the 122 major sports franchises that existed in 1997, 65 were built downtown 28 in a central city, and 29 in a suburban area. Complete parts a through e.

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Chapter 13:

Ex 6) The owner of Maumee Ford-Mercury-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year.

Ex 6) Consider the ANOVA table that follows

a.1. Determine the standard error of estimate

a.2. About 95% of the residuals will be between what two values?

b.1. Determine the coefficient of multiple determination.

b.2. Determine the percentage variation for the independent variables.

c. Determine the coefficient of multiple determinations, adjusted for the degree of freedom

Ex 8) The following regression output was obtained from a study of architectural firms. The dependent variables is the total amount of fees in millions of dollars.

X1 is the no of architects employed by the company

X2 is the no of engineers employed by the company

X3 is the no of years involved with health care projects

X4 is the no of states in which the firm operates

X5 is the percent of the firm’s work that is health care-related

a. Write out the regression equation

b. How large is the sample? How many independent variables are there?

c. 1. State the decision rule for .05 significance level:

2. Compute the value of F statistics

3. Can we conclude that the set of regression coefficients could be different from 0?

d. 1. State the decision rule for .05 significance level:

2. Compute the value of test statistics

3. Which variable you consider eliminating?

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QNT 561 Week 5 Team Assignment Business Research Project Part 4 Data Analysis (2 Sets)

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This Tutorial contains 2 different sets

Administer the survey.

In a paper in the APA format describe the following:

Determine the sample process including sample contact, survey distribution, and survey collection.

Organize, prepare, and describe the data.

Include tables and figures as necessary to visually present the data.

Think of this as a progress report to the CEO. He/She has provided your resources to conduct your research and you have just completed the deployment of your survey with some raw data BUT your analysis is not completed! This is to provide the CEO a quick touch point informing them how everything went, what are your initial thoughts, showing them your raw results (# counts and percentages) for each question, and anything that is jumping out at you at this point.

You will provide your detailed analysis in Week 6.

Click the Assignment Files tab to submit your assignment.

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Chapter 18: EX.2) Listed Below is the number of movie tickets sold at the Library Cinema-Complex, in thousands, for the period from 2001 to 2013. Compute a five-year weighted moving average using weights of 0.15, 0.15, 0.25, 0.16, and 0.29, respectively. Describe the trend in yield. EX 10) Appliance Center sells a variety of electronic equipment and home appliance. For the last 4 years, 2010 through 2013, the following quarterly sales (in $ millions) were reported. Determine the typical seasonal index for each of four quarters.

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This Tutorial contains 2 Sets of Report and Presentation

Complete the cumulative Business Research Report in approx. 1,500 words by collaborating with your team to include the following:

Revised tables or figures based on prior instructor feedback

The description or interpretation for the tables or figures

Summary of Learning Team results

Answers to the research questions

Research challenges

Steps to minimize challenges in future research

Rationale for the survey items

Analyze the implications of the team’s results in relation to the

.

Click the Assignment Files tab to submit your assignment.

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