BUS 308 Course Material - bus308dotcom

1. BUS 308 Course Material - bus308dotcom

2. BUS 308 Course Material • BUS 308 Week 1 Assignment Problems 1.2, 1.17, 3.3 & 3.22BUS 308 Week 1 DQ 1 Performance ReportBUS 308 Week 1 DQ 2 The Empirical Rule vs. Chebyshev TheoremBUS 308 Week 1 Quiz (10 MCQ)BUS 308 Week 2 Assignments Problems 4.4, 4.20, 5.12, 6.22(a)BUS 308 Week 2 DQ 1 Relative FrequencyBUS 308 Week 2 DQ 2 Applications for Probability • BUS 308 Week 1 Problems 1.2, 1.17, 3.3 & 3.22 BUS 308 Entire Course BUS 308 Week 1 Assignment Problems 1.2, 1.17, 3.3 & 3.22

3. BUS 308 Course Material • You are the manager at a company and are asked to present a report on the year-to-date performance of your division. What type of statistical information would you include in your report? In particular, which descriptive statistics (mean, median, standard deviation, etc.) do you think would best represent the main aspects of the performance of your division? What types of graphical presentation • Discuss how the Empirical Rule works and how it relates to the bell curve as illustrated in Figure 3.14 (a). Then, explain Chebyshev’s Theorem and how it is different from the Empirical Rule. Give a specific example of a population with which the Empirical Rule might be most effective and one with which Chebyshev’s Theorem might be most effective. Respond to at least two of your classmates’ postings BUS 308 Week 1 DQ 1 Performance Report BUS 308 Week 1 DQ 2 The Empirical Rule vs. Chebyshev Theorem

4. BUS 308 Course Material • Question : The two types of quantitative variables are   • 2. Question : As a general rule, when creating a stem-and-leaf display, there should be between ______ stem values. • 3. Question : The median is the value below which and above which approximately 50 percent of the measurements lie. • BUS 308 Week 2 Assignments Problems 4.4, 4.20, 5.12, 6.22(a) BUS 308 Week 1 Quiz (10 MCQ) BUS 308 Week 2 Assignments Problems 4.4, 4.20, 5.12, 6.22(a)

5. BUS 308 Course Material • Relative Frequency. Conceptually we would expect the probability of newborn males and females to be the same. However, census reports indicate that the ratios of males and females in various countries do not conform to the theoretical prediction. What do you think accounts for this variation? Can you think of other cases where the expected probabilities do not quite agree with the empirical values? • Applications for Probability. In what situations might you use probability as a manager to approach business-related problems? What are the advantages to using probability concepts in business decisions? Are there any disadvantages or possible pitfalls to avoid in using probability in business? BUS 308 Week 2 DQ 1 Relative Frequency BUS 308 Week 2 DQ 2 Applications for Probability

6. BUS 308 Course Material • 1. Question : In a statistical study, the random variable X = 1, if the house is colonial, and X = 0 if the house is not colonial, then it can be stated that the random variable is continuous. • 2. Question : The set of all possible experimental outcomes is called a(n) • 3. Question : If two events are independent, then the probability of their intersection is represented by: • BUS 308 Week 3 Assignments Problems 7.11, 7.30, 8.8, 8.38 BUS 308 Week 2 Quiz (10 MCQ) BUS 308 Week 3 Assignments Problems 7.11, 7.30, 8.8, 8.38

7. BUS 308 Course Material • Unscientific Sampling. Consider question 7.45 from the text: A Milwaukee television station, WITI-TV, conducted a telephone call-in survey asking whether viewers liked the new newspaper, the Journal Sentinel. On April 26, 1995, Tim Cuprisin, a columnist for the Journal Sentinel, wrote the following comment: “WITI-TV • Article Review. Many articles present statistical data and list margins of error (for example, reports on political opinion polls, growth or decline of the housing markets, manufacturing sectors, etc.). Find one such article from a reliable source (such as EBSCO or Proquest) in the online library that includes a construction of confidence intervals for the data studied, and give a summary of the topic and the statistical results presented. BUS 308 Week 3 DQ 1 Unscientific Sampling BUS 308 Week 3 DQ 2 Article Review

8. BUS 308 Course Material • 1. Question : There is little difference between the values of ta/2 and Za/2 when the sample • 2. Question : If the population proportion is .4 with a sample size of 20, then is this sample large enough so that the sampling distribution of is a normal distribution. • 3. Question : For non-normal populations, as the sample size (n) _________, the distribution of sample means approaches a/an __________ distribution. • BUS 308 Week 4 Assignments Problems 9.13, 9.22, 12.10, 12.18(a) BUS 308 Week 3 Quiz (10 MCQ) BUS 308 Week 4 Assignments Problems 9.13, 9.22, 12.10, 12.18(a)

9. BUS 308 Course Material • Give an example of a hypothesis test you could perform at work or at home. State what the Null and the Alternative hypotheses would be in your test. Explain how you would settle on a reasonable level of significance for your scenario. Also explain what the type I and II errors would be if you reached the incorrect conclusion in your test. • Creating Hypotheses. Assume you are the manager of a paint manufacturing factory. Your company has received complaints from customers that the containers hold less than the amount printed on them. On the other hand, corporate management is concerned that the containers hold more than the standard amount. You assign a statistician to verify these claims. A sample of containers was selected and the volume of paint in each container was measured. BUS 308 Week 4 DQ 1 Hypothesis Test BUS 308 Week 4 DQ 2 Creating Hypotheses

10. BUS 308 Course Material • 1. Question : Consider using p-value to test H0 versus Ha by setting α equal to .10. We reject H0 at level α of significance if and only if the p-value is: • 2. Question : When carrying out a sample test (with ó known) of H0: µ = 10 vs. Ha: µ > 10 by using a rejection point, we reject Ho at level of significance a if and only if the calculated test statistic is • Linear Correlation. Do you think there is a correlation between CEO salaries and the degree of success of a company? If you were to take a sample of companies with comparable size, market capitalization, and product category, and plot CEO salaries against the net profit of their respective companies, do you expect to find a linear correlation between the two? Explain BUS 308 Week 4 Quiz (10 MCQ) BUS 308 Week 5 DQ 1 Linear Correlation

11. BUS 308 Course Material • Quality Control. Visit the websites on Quality Control (QC) listed in the Required Websites for this week. In addition, locate an article on the Internet or in the Library databases that describes an example of the use of statistics in Quality Control. In your post, briefly define Quality Control and explain its importance. • 1.Calculate the mean yearly value using the average gas prices by month found in the "Final Project Data Set". • 2. Using the years as your x-axis and the annual mean as your y-axis, create a scatterplot and a linear regression line. • 3. Answer the following questions using your scatterplot and linear regression line:* What is the slope of the linear regression line?* What is the Y-intercept of the linear regression line?* BUS 308 Week 5 DQ 2 Quality Control BUS 308 Week 5 Final Part I – Excel

12. BUS 308 Course Material • . Introduce the project and its significance to the company. • 2. Explain the statistical analysis that you completed in Part I. Be sure to explain wherethe data came from, what analysis was done, and what the results were. • 3. Give conclusions that you have drawn from the data. Consider the effects of your gasprice predictions on the delivery business. BUS 308 Week 5 Final Part II Analysis Paper on gas prices

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