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3. QNT 351 Final Exam Guide (New) • Q1 The Director of Golf for a local course wants to study the number of rounds played by members on weekdays. He gathered the sample information shown below for 520 rounds. At the .05 significance level, is there a difference in the number of rounds played by day of the week? 2An auditor for American Health Insurance reports that 20% of policyholders submit a claim during the year. 15 policyholders are selected randomly. What is the probability that at least 3 of them submitted a claim the previous year? 3 When a class interval is expressed as 100 up to 200, _________________________.

4. QNT 351 Final Exam Guide • 1) The main purpose of descriptive statistics is to • 2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called

5. QNT 351 Week 1 Connect Problems • QNT 351 Week 1 Connect Problem 1. Which of the following is an example of a continuous variable? 2. The incomes of 50 loan applicants are obtained. Which level of measurement is income? 3. The members of each basketball team wear numbers on their jerseys. What scale of measurement are these numbers considered? 4. The reported unemployment is 5.5% of the population. What measurement scale is used to measure unemployment? 5. The Nielsen Ratings break down

6. QNT 351 Week 1 DQ 1 • Week 1 DQ1 • Where would you see descriptive statistics used in your work place?

7. QNT 351 Week 1 DQ 2 • Week 1 DQ2 • How would you define dependent and independent variables? What is their significance in research? Explain with examples.

8. QNT 351 Week 1 DQ 3 • Week 1 DQ3 • Develop five demographic questions to measure gender, age, years of experience, level of education, and ethnicity. Identify the level of measurement used for each

9. QNT 351 Week 1 DQ 4 • Week 1 DQ4 • How would you define a variable? What is the difference between a dependent and independent variable? Do you think both variables are used in every research? Explain why or why not. Provide examples

10. QNT 351 Week 1 DQ 5 • Week 1 DQ5 • What is the importance of statistics in business decision making? Describe a business situation where statistics was used in making a decision.

11. QNT 351 Week 1 DQ 6 • Week 1 DQ6 • What are the four data measurement scales? Provide two examples and explain the importance of each in business research.

12. QNT 351 Week 1 Individual Assignment Statistics in Business (2 Sets) • This tutorial contains 2 different Sets of papers • Define statistics. • Identify different types of statistics. • Describe the role of statistics in business decision making. • Write a 300-word summary providing at least three examples or problem situations in which statistics was used or could be used.

13. QNT 351 Week 1 Introduction to Statistical Thinking Worksheet • Complete the Introduction to Statistical Thinking Worksheet. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. 1. There are 23 people at a party. Explain what the probability is that any two of them share the same birthday. 2. A cold and flu study is looking at how two different medications work on sore throats and fever. Results are as follows: • Sore throat - Medication A: Success rate - 90% (101 out of 112 trials were successful) • Sore throat - Medication B: Success rate - 83% (252 out of 305 trials were successful) • Fever - Medication

14. QNT 351 Week 2 Connect Problems • QNT 351 Week 2 Connect Problem 1. The director of admissions at Kinzua University in Nova Scotia estimated the distribution of student admissions for the fall semester on the basis of past experience. a. What is the expected number of admissions for the fall semester? b. Compute the variance and the standard deviation of the number of admissions. 2. The Internal Revenue Service is studying the category of charitable contributions. A sample of 28 returns is selected from young couples between the ages of 20 and 35 who had an adjusted gross income of more than $100,000. Of these 28 returns, 5 had charitable contributions of more than $1,000. Suppose 4 of these returns are selected for a comprehensive audit. a. You should use the hyper geometric

15. QNT 351 Week 2 DQ 1 • Week 2 DQ1 • Can mean, median, or mode be calculated from all statistical data? Explain why or why not. When is the mean the best measure of central tendency? When is the median the best measure of central tendency?

16. QNT 351 Week 2 DQ 2 • Week 2 DQ2 • Describe a business situation, other than what has already been selected by fellow students or selected from the team assignment, where mean and standard deviation can be used in decision making. Describe how calculation of mean and standard deviation can help in making a decision. 

17. QNT 351 Week 2 DQ 3 • Week 2 DQ3 • What level of data is a telephone number? Explain.

18. QNT 351 Week 2 DQ 4 • Week 2 DQ4 • Does all data have a mean, median, or mode? Why or why not? When is the mean the best measure of central tendency? When is the median the best measure of central tendency?

19. QNT 351 Week 2 DQ 5 • Week 2 DQ5 • Why is the population shape a concern when estimating a mean? What effect does sample size, n, have on the estimate of the mean?

20. QNT 351 Week 2 Learning Team Assignment Data Collection (2 Sets) • This tutorial contains 2 different Sets of papers • Discuss with your team whether you have data from RES/351, and if your team would like to use one team member’s data for the Learning Team assignments in this course. • If using data from RES/351: • Resources: Data collected from RES/351

21. QNT 351 Week 2 Probability Worksheet • Complete the Probability Worksheet. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. Maximum and Minimum Temperatures Search the Internet for U.S. climate data. Choose the city in which you live. Click on the tab that reads “Daily.” 1. Prepare a spreadsheet with three columns: Date, High Temperature, and Low Temperature. List the past 60 days for which data is available. 2. Prepare a histogram for the data on high temperatures and comment on the shape of the distribution as observed from these graphs. 3. Calculate  and S. 4. What percentage

22. QNT 351 Week 2 Team Assignment Descriptive Statistics Real Estate Data Part 1 • Search the Internet for a realty site. Select a hometown of someone on your team in the search section on the website you have chosen. When all of the listings populate, make sure that the sort criteria reads "New Listings." This ensures that you are searching a random cross-section of listings rather than favoring one price range. Review the new listings that populate. Create an Excel® spreadsheet with 4 columns of the first 100 single family homes listed, not including condominiums or townhouses. Include each of the following categories in the spreadsheet: Propert

23. QNT 351 Week 3 Connect Problems • Award: 10 out of 10.00 points A sample of 43 observations is selected from a normal population. The sample mean is 30, and the population standard deviation is 3. Conduct the following test of hypothesis using the 0.05 significance level. a. Is this a one- or two-tailed test? b. What is the decision rule? (Round your answer to 3 decimal places.) c. What is the value of the test statistic? (Round your answer to 2 decimal places.) d. What is your decision regarding H0? e. What is the p-value? (Round your answer to 4 decimal places.) 2.At the time she was hired as a server at the Grumney Family Restaurant, Beth Brigden was told, “You can average $86 a day in tips.” Assume the population of daily tips is normally distributed with a standard deviation of $3.81. Over the first 48 days she was employed at the restaurant, the mean daily amount of her tips was $87.07. At the 0.02 significance level, can Ms. Brigden conclude t

24. QNT 351 Week 3 DQ 1 • Week 3 DQ1 • What are the differences between probability and coincidence? Can the probability be more than 1 or less than 0? Explain why or why not.

25. QNT 351 Week 3 DQ 2 • Week 3 DQ2 • What is the role of probability concepts in business decision-making? Provide specific examples.

26. QNT 351 Week 3 DQ 3 • Week 3 DQ3 • What are the basic differences between a discrete and a continuous distribution?

27. QNT 351 Week 3 DQ 4 • Week 3 DQ4 • What are the characteristics of standard normal distribution? Explain how to calculate the z-test static. Explain how a z-value is used to calculate the area under the distribution and the meaning of P(0 to z) when z = 1.96.

28. QNT 351 Week 3 Individual Assignment Real Estate Data • Resources: Appendix A1 at the end of Basic Statistics for Business and Economics • Answer question 68 in the Data Set Exercises from Ch. 3 of Basic Statistics for Business and Economics. • Answer question 34 in the Data Set Exercises from Ch. 4 of Basic Statistics for Business and Economics.

29. QNT 351 Week 3 Team Assignment Sampling Distributions Real Estate Part 2 • Use the real estate data that you used for your learning team project that was due in Week 2. Complete the Sampling Distributions - Real Estate Part 2 worksheet. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. 1. Review the data and for the purpose of this project please consider the 100 listing prices as a population. • Explain what your computed population mean and population standard deviation were. 2. Divide the 100 listing prices into 10 samples of n=10 each. Each of your 10 samples will tend to be random if the first sample includes houses 1 through 10 on your spreadsheet, the second sample consists of houses 11 through 20,

30. QNT 351 Week 3 Team Assignment Summarizing and Presenting Data (2 Sets) • This tutorial contains 2 different Sets of papers • If using RES/351 data: • Revise the report submitted in Week Two based on the feedback provided by the instructor in the team assignment, and insight gained by reading.

31. QNT 351 Week 4 Connect Problems • QNT 351 Week 4 Connect Problem 1) The Production department of Celitronics International wants to explore the relationship between the number of employees who assemble a subassembly and the number produced. As an experiment, 2 employees were assigned to assemble the subassemblies. They produced 13 during a one-hour period, then 4 employees assembled them. They produced 22 during a one hour period. The complete set of paired observation follows a) The dependent variable is production; that is, it is assumed that different levels of production result from a different number of employees. b) A scatter diagram is provided below. Based on it, does there appear to be any relationsh

32. QNT 351 Week 4 DQ 1 • Week 4 DQ1 • What are some terms related to hypothesis testing with which you are already familiar? Why do null and alternative hypotheses have to be mutually exclusive?

33. QNT 351 Week 4 Individual Assignment Real Estate Data • Resources: Appendix A1 at the end of Basic Statistics for Business and Economics • Answer question 60 (both parts a. and b.) in the Data Set Exercises from Ch. 6 of Basic Statistics for Business and Economics. • Answer question 54 (both parts a. and b.) in the Data Set Exercises from Ch. 7 of Basic Statistics for Business and Economics.

34. QNT 351 Week 4 Learning Team Reflection (2 Sets) • QNT 351 Week 4 Learning Team Reflection • This tutorial contains 2 different sets • Discuss the following with your Learning Team: • The steps in testing a research hypothesis • Comparing the means of two or more groups • Calculating the correlation between two variables

35. QNT 351 Week 4 Two Population Means Worksheet • A tomato farmer with a very large farm of approximately 2200 acres had heard about a new type of rather expensive fertilizer which would supposedly significantly increase his production. The frugal farmer wanted to test the new fertilizer before committing the large investmentrequired to fertilize a farm of his size. He therefore selected 15 parcels of land on his property and divided them each into two portions. He bought just enough of the new fertilizer to spread over one half of each parcel and then spread the old fertilizer over the other half of each parcel. His yields in pounds per tomato plant were as follows: What if you

36. QNT 351 Week 5 Team Assignment Real Estate Regression Exercise • Complete the Real Estate Regression Exercise. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. You are consulting for a large real estate firm. You have been asked to construct a model that can predict listing prices based on square footages for homes in the city you’ve been researching. You have data on square footages and listing prices for 100 homes. 1. Which variable is the independent variable (x) and which is the dependent variable (y)? 2. Click on any cell. Click on Insert→Scatter→Scatter with markers (upper left). To add a trendline, click Tools→Layout→Trendline→LinearTrendline Does the scatterplot indicate observable correlation

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