QNT 561 Introduction Education--qnt561.com

QNT 561 Entire Course (With Final Guide)
For more course tutorials visit
www.qnt561.com
QNT 561 Final Exam Guide (New, 2017)
QNT 561 Week 1 Assignment Statistics Concepts and Descriptive
Measures Instructions (Financial Data)
Measures Instructions (Consumer Food)
QNT 561 Week 2 Case Study MBA Schools in Asia Pacific (2
Papers)
QNT 561 Week 3 Case Study SuperFun Toys (2 Papers)
QNT 561 Week 3 Assignment Expansion Strategy and Establishing a
Re-Order Point
QNT 561 Week 4 Case the Payment Time
QNT 561 Week 5 Spicy Wings Case Study
QNT 561 Week 5 Team One-Sample Hypothesis Testing (Election
Results, SpeedX)
QNT 561 Week 6 Signature Assignment (Hospital)
QNT 561 Week 6 Signature Assignment (Consumer Food)
==============================================
QNT 561 Entire Course (Without Final Guide)
www.qnt561.com

Measures Instructions (Financial Data)
Measures Instructions (Consumer Food)
QNT 561 Week 2 Case Study MBA Schools in Asia Pacific (2 Papers)
QNT 561 Week 3 Case Study SuperFun Toys (2 Papers)
QNT 561 Week 3 Assignment Expansion Strategy and Establishing a
Re-Order Point
QNT 561 Week 5 Team One-Sample Hypothesis Testing (Election
Results, SpeedX)
QNT 561 Week 6 Signature Assignment (Consumer Food)
==============================================
QNT 561 Final Exam Guide (New, 2019)
www.qnt561.com
1. James Desreumaux, VP of Human Resources of American First
Banks (AFB), is reviewing the employee training programs of AFB
banks. His staff randomly selected personnel files for 100 tellers in
the Southeast Region and determined that their mean training time

was 25 hours. Assume that the population standard deviation is 5
hours. The 95% confidence interval for the population mean of
training times is
2. If x is a binomial random variable with n=10 and p=0.8, the
mean value of x is______
3. According to the central limit theorem, for samples of size 64
drawn from a population with µ =800 and σ = 56, the standard
deviation of the sampling distribution of sample means would equal
______
==============================================
QNT 561 Week 1 Assignment Statistics Concepts
and Descriptive Measures Instructions (Consumer
Food)
www.qnt561.com
Purpose of Assignment
The purpose of this assignment to orient students to the key concepts
in statistics. This assignment will introduce students to the language
of statistics. Students will also get a chance to warm-up on evaluating
some basic descriptive statistics using Excel® prior to the course
start.
Assignment Steps
This assignment has an Excel dataset spreadsheet attached.
Resource: Microsoft Excel, Statistics Concepts and Descriptive
Measures Data Set
Download the Statistics Concepts and Descriptive Measures Data
Set.

Choose:
• Financial
Answer each of the following in a total of 90 words:
• For each column, identify whether the data is qualitative or
quantitative.
• Identify the level of measurement for the data in each column.
• For each column containing quantitative data:
• Evaluate the mean and median
• Interpret the mean and median in plain non-technical terms
• Use the Excel =AVERAGE function to find the mean
• Use the Excel =MEDIAN function to find the median
• Evaluate the standard deviation and range
• Interpret the standard deviation and range in plain non-technical
terms
• Use the Excel =STDEV.S function to find the standard deviation
• For range (maximum value minus the minimum value), find the
maximum value using the Excel =MAX function and find the
minimum value using the Excel's =MIN function
Annual Food Spending ($) Annual Household Income ($) Non
mortgage household debt ($)
8909 56697 23180
5684 35945 7052
10706 52687 16149
14112 74041 21839
13855 63182 18866

15619 79064 21899
2694 25981 8774
9127 57424 15766
13514 72045 27685
6314 38046 8545
7622 52408 28057
4322 41405 6998
3805 29684 4806
6674 49246 13592
7347 41491 4088
2911 26703 15876
8026 48753 16714
8567 55555 16783
10345 71483 21407
8694 50980 19114
8821 46403 7817
8678 51927 14415
14331 84769 17295
9619 59062 16687
9286 57952 14161
8206 58355 19538
16408 81694 15187
12757 69522 14651
17740 96132 0

==============================================
QNT 561 Week 1 Assignment Statistics Concepts
and Descriptive Measures Instructions (Financial
Data)
www.qnt561.com
The purpose of this assignment to orient students to the key concepts
in statistics. This assignment will introduce students to the language
of statistics. Students will also get a chance to warm-up on evaluating
some basic descriptive statistics using Excel® prior to the course
start.
Assignment Steps
This assignment has an Excel dataset spreadsheet attached.
Resource: Microsoft Excel, Statistics Concepts and Descriptive
Measures Data Set
Download the Statistics Concepts and Descriptive Measures Data
Set.
Choose:
• Financial
Answer each of the following in a total of 90 words:
• For each column, identify whether the data is qualitative or
quantitative.
• Identify the level of measurement for the data in each column.
• Evaluate the mean and median

• Interpret the mean and median in plain non-technical terms
• Use the Excel =AVERAGE function to find the mean
• Use the Excel =MEDIAN function to find the median
• Evaluate the standard deviation and range
• Interpret the standard deviation and range in plain non-technical
terms
• Use the Excel =STDEV.S function to find the standard deviation
• For range (maximum value minus the minimum value), find the
maximum value using the Excel =MAX function and find the
minimum value using the Excel's =MIN function
Company Type Total Revenues
AFLAC 6 7251
Albertson's 4 14690
Allstate 6 20106
Amerada Hess 7 8340
American General 6 3362
American Stores 4 19139
Amoco 7 36287
Arco Chemical 2 3995
Ashland 7 14319
Atlantic Richfield 7 19272
Bausch & Lomb 5 1916
Baxter International 5 6138
Bristol-Myers Squibb 5 16701

Burlington Coat 1 1777
Central Maine Power 3 954
Chevron 7 41950
CIGNA 6 14935
Cinergy 3 4353
Dayton Hudson 1 27757
Dillard's 1 6817
Dominion Resources 3 7678
Dow Chemical 2 20018
DPL 3 1356
E. I. DuPont DeNemours 2 46653
Eastman Chemical 2 4678
Edison International 3 9235
Engelhard 2 3631
Entergy 3 9562
Equitable 6 9666
==============================================
QNT 561 Week 1 DQ 1
www.qnt561.com
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.
==============================================

QNT 561 Week 1 DQ 2
www.qnt561.com
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.
==============================================
QNT 561 Week 1 Individual My Statslab Problem
Set
www.qnt561.com
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.
9. Suppose you’re given a data set that classifies each sample unit
into one of four categories: A, B, C or D. You plan to create a
computer database consisting of these data, and you decide to code
the data as A = 1, B = 2, C = 3 and D = 4. Are the data consisting of
the classifications A, B, C and D qualitative or quantitative? After the
data are in out as 1, 2, 3, or 4, are they qualitative or quantitative?
10. Identify each of the following variables as qualitative or
quantitative.

11. Each month interviewers visit about 69,000 of the 93 million
households in the region and question the occupants over 18 years of
age about their educational status. Their responses enable the
interviewers to estimate the percentage of people in the labor force
who are college educated. Compare parts a through c.
12. Complete the table to the right?
13. In one university, language professors incorporated a 10-week
extensive program to improve students’ Japanese reading
comprehension. The professors collected 283 books originally written
for Japanese children and required their students to read at least 40 of
them as part of the grade in the course. The books were categorized
into reading levels (color-coded for easy selection) according to
length and complexity. Complete parts a through c.
14. A group of marketing professors asked every fourth adult entrant
to a mall to participate in a study. A total of 119 shoppers agreed to
answer the question, “Made locally” means what percentage of local
labor and materials?” The responses of the 119 shoppers are
summarized in the table to the right. Complete parts a through c
below.
15. Graph the relative frequency histogram for the 300 measurements
summarized in the relative frequency table to the right.
16. If jobs arrive at a particular work center at a faster rate than they
depart, the work center impedes the overall production process and is
referred to as a bottleneck. The data in the table were collected by an
operations manager for use in investigating a potential bottleneck
work center.
17. A data set contains the observations 3, 5, 4, 2, 3. Find the
following values.
18. Calculate the mean and Median of the following grade point
averages.
2.5 2.9 3.6 2.6 3.2 3.7
19. 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.
20. The data on the age (in years) of each of the 20 most powerful
women in a region are shown below.
49 62 52 ……………………………………….64

21. The salaries of superstar professional athletes receive much
attention in the media. The multimillion-dollar long-term contract is
now commonplace among this elite group. Nevertheless, rarely does a
season pass without negotiations between one or more of the players’
associations and team owners for additional salary and fringe benefits
for all players in their particular sports. Complete parts a and b below.
22. Calculate the range, variance, and standard deviation for the
following sample.
3, -3,2,……………….4
23. A university’s language professors incorporated a 10-week
extensive redaing program into a second-semester Japanese language
course in an effort to improve students’ Japanese reading
comprehension. Fourteen students participated in this reading
program. Complete parts a through c.
24. A country’s Energy Information Administration monitors all
nuclear power plants operating in that country. The table to the right
lists the number of active nuclear power plants operating in each of a
sample of 10 states.
25. A study of 100,000 first-time candidates for the CPA exam found
that the mean number of semester hours of college credit taken by the
candidates was 144.58 hours. The standard deviation was reported to
be 15.73 hours. Complete parts a through c.
26. Compute the z-score corresponding to each of the values of x
below.
27. 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.
28. A sample data set has a mean of 74 and a standard deviation of
10. Determine whether each of the following sample measurements
are outliers.
29. Consider the horizandal box shown to the right.
30. Educators are constantly evaluating the efficacy of public schools
in the education and training of students. 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.
31. Data on annual rainfall, maximum daily temperature, percentage
of planet cover, and number of anti species recorded at each of 11

study sites are given in the accompanying table. Complete parts a
through c.
32. Determine whether the random variable is discrete or continuous.
33. The random variable x has the following discrete probability
distribution. Complete parts a through f.
34. X intercept, y intercept
35. If x is a binomial random variable, compute p(x) for each of the
cases below.
36. According to a business magazine, 30% all small businesses
owned by non-Hispanic whites nationwide are women-owned firms.
37. According to a certain golf association, the weight of the golf ball
ball shall not be greater than 1.620 ounces (45.93 grams). The
velocity of the ball shall not be greater than 250 feet per second. The
golf association periodically checks the specifications of golf balls
using sampling. Five dozen of each kind are sampled, and if more
than three do not meet size or velocity requirements, that kind of ball
is removed from the golf association’s approved list. Complete parts a
and b.
38. Find the area under the standard normal probability distribution
between the following pairs of z-scores.
39. Suppose the random variable x is the best described by a normal
distribution with µ = 32 and = 5. Find the z-score that corresponds to
each of the following x-values.
40. 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.
41. Personnel tests are designed to test a job applicant’s cognitive
and/or physical abilities. A particular dexterity test is administered
nationwide by a private testing service. It is known that for all tests
administered last year, the distribution of scores was approximately
normal with mean 76 and standard deviation 7.8.
42. Determine evidence to support or contradict the assumption that
the data to the right come from an approximately normal distribution.
43. An airport terminal handles an average of 3,000 international
passengers an hour, but is capable of handling twice that number.
Also after scanning all luggage, 20% arriving international passengers
are detained for intrusive luggage inspection. The inspection facility

can handle 500 passengers an hour without unreasonable delays for
the travelers. Complete parts a through c.
44. Will the sampling distribution of always be approximately
normally distributed? Explain.
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.
==============================================
QNT 561 Week 1 Lab Work (New)
www.qnt561.com
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?
==============================================
QNT 561 Week 2 Case Study MBA Schools in Asia
Pacific (2 Papers)
www.qnt561.com
Review the Case Study: MBA Schools in Asia-Pacific and the Case
Study: MBA Schools in Asia-Pacific data set.
Prepare a 1,050-word managerial report for your boss.
Use the following questions for guidelines and directions on what to
include in the report:
1. What is the type of data (Quantitative or Qualitative) for each
of the columns (variables) in the dataset? If quantitative, is the data
discrete or continuous? Neatly summarize your response in a table for
all the columns (variables).
2. Using Excel, find the mean, median, standard deviation,
minimum, maximum, and the three quartiles for each of the
quantitative variables identified in part 1 above. Neatly summarize in
a table on this document. Comment on what you observe.
3. What are the minimum and maximum full-time enrollments?
Which schools have the minimum and maximum full-time
enrollments?
4. What is the average number of students per faculty member?
Is this low or high? What does this mean to prospective applicants
who are interested in pursuing an MBA in one of the leading
international business schools?
5. What are the mean, median, and modal ages? What does this
mean to prospective applicants?

6. What is the mean percentage of foreign students? How many
and which schools have 1% and 0% foreign students? Which schools
have highest percentage of foreign students? Please state these
percentages.
7. What percentage of schools require the GMAT test?
8. What percentage of schools require English tests such as Test
of English as a Foreign Language (TOEFL)?
9. What percentage of schools require work experience? From
this percentage, does this appear to be a significant factor in gaining
admissions?
10. What are the mean and median starting salaries? Which
schools have the minimum and maximum starting salaries? How
much are these minimum and maximum salaries?
11. What are the mean tuition for foreign students and for local
students? Does there appear to be a significant difference? What is the
difference between the two means?
12. How many schools require work experience and how many of
them don't? What is the mean starting salary for schools requiring
work experience? What is the mean starting salary for schools
requiring no work experience?
13. How many schools require English tests and how many don't?
What is the mean starting salary for schools requiring English tests?
What is the mean starting salary for schools requiring no English
tests?
14. Does there appear to be a correlation between age and starting
salaries? Comment on the strength and the direction of the correlation.
15. Comment on the skewness for the data on starting salaries:
1. Plot a histogram and determine the skewness.
2. Find the skewness coefficient.
3. Find the mean, median, and mode for starting salaries and
compare the three measures to determine skewness.

16. Finally, use Empirical Rule on the starting salaries and
determine whether the salaries follow the Empirical Rule.
The pursuit of a higher education degree in business is now
international. A survey shows more and more Asians choose the
master of business administration (MBA) degree route to corporate
success. As a result, the number of applicants for MBA courses at
Asia-Pacific schools continues to increase.
Across the region, thousands of Asians show an increasing
willingness to temporarily shelve their careers and spend two years in
pursuit of a theoretical business qualification. Courses in these
schools are notoriously tough and include statistics, economics,
banking, marketing, behavioral sciences, labor relations, decision
making, strategic thinking, business law, and more.
After your MBA, you get a job at Bloomberg in its media
division, Bloomberg Business. Your division publishes reviews and
rankings for business schools in the US and internationally. Because
of your strong analytical education from University of Phoenix, your
boss assigns you to work on preparing an analysis for data gathered
for leading business schools in the Asia-Pacific. The data set in the
Excel® file shows some of the characteristics of the leading Asia-
Pacific business schools.
==============================================
QNT 561 Week 2 DQ 1
www.qnt561.com
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!

==============================================
QNT 561 Week 2 DQ 2
www.qnt561.com
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!
==============================================
QNT 561 Week 2 Individual My Statslab Problem
Set
www.qnt561.com
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.
6. A random sample of size n = 250 yielded = 0.20.
7. A newspaper reported that 50% of people say that some coffee
shops are overpriced. The source of this information was a telephone
survey of 40 adults.
8. An accounting firm annually monitors a certain mailing
service’s performance. One parameter of interest is the percentage of
mail delivered on time. In a sample of 303,000 items mailed between
Dec. 10 and Mar. 3__ the most difficult delivery season due to bad
weather and holidays__ the accounting firm determined that 245,200
items were delivered on time. Use this information to make a
statement about the likelihood of an item being on time by that
mailing service.
9. Suppose oyu’re given a data set that classifies each sample unit
into one of four categories: A, B, C, or D. You plan to create a
computer database consisting of these data, and you decide to code
the data as A = 1, B = 2, C = 3, and D = 4. Are the data consisting of
the classifications A, B, C and D qualitative or Quantitative? After the
data are input as 1, 2, 3, or 4, are they qualitative or Quantitative?
10. In one university, language professors incorporated a 10-week
extensive program to improve students’ Japanese reading
comprehension. The professors collected 262 books originally written
for Japanese children and required their students to read at least 40 of
them as part of the grade in the course. The books were categorized
into reading levels (color-coded for easy selection) according to
length and complexity. Complete parts a through c.
11. Use the relative frequency table shown to the right to calculate
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.
==============================================
www.qnt561.com
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 22 ) A National Park Service survey of visitors to the Rocky
Mountain region revealed that 50% visit Yellowstone park, 40% visit
the Tetons, and 35% visit both.
a) What is the probability a vacationer will visit at least one of
these attractions?
b) What is the probability .35 called?
c) Are the events mutually exclusive?
Ex 40) Value : 10.00 Points
Solve the following:
a) 20!/17!
b) 9P3
c) 7C2
Ex 34) Use Bayes’ theorem to determine P(A3| B1)
Chapter 6:
Ex 4) Which of these variables are discrete and which are continuous
random variables?
a. The number of new accounts established by a salesperson
b. The time between customer arrivals to a bank ATM

c. The number of customers in Big Nick’s barber shop
d. The amount of fuel in your car’s gas tank
EX. 14) The U.S postal service reports 95% of first-class mail within
the same city is delivered within 2 days of the time of mailing. Six
letters are randomly sent to different locations.
a) What is the probability that all six arrive within 2 days?
b) What is the probability that will arrive within 2 days.
c) Compute the variance of the number that will arrive within 2
days.
d) Compute the standard deviation of the number that will arrive
within 2 days.
Ex 20) Binomial Distribution
EX. 26) A Population consists of 15 items, 10 of which are
acceptable.
In a sample of four items, what is the probability that exactly three are
acceptable? Assume the samples are drawn without replacement.
Chapter 7:
Ex 4) According to the insurance institute of America, a family of
four spends between $400 and $3,800 per year on all type of
insurance. Suppose the money spent is uniformly distributed between
these amounts.
a. What is the mean amount spent on insurance?
b. What is S.D of the amount spent?
c. If we select a family at random, What is the probability they
spend less than $2,000 per year on insurance per year?
d. What is the probability a family spends more than $3,000 per
year?
EX.10)The mean of a normal probability distribution is 60; the
standard deviation is 5.

a) About what percent of the observations lie between 55 and 65?
b) About what percent of the observations lie between 50 and 70?
c) About what percent of the observations lie between 45 and 75?
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
EX. 28) For the most recent year available, the mean annual cost to
attend a private university in the united States was $26,889. Assume
the distribution of annual costs follows the normal probability
distribution and the standard deviation is $4,500.
Ninety-five percent of all students at private universities pay less than
what amount?
==============================================
QNT 561 Week 2 Team Assignment Business
Research Project Part 1 Business Problem and
Research Questions
www.qnt561.com

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.
==============================================
Research Project Part 1 Formulation of the
Research Problem
www.qnt561.com
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.
==============================================
QNT 561 Week 3 Assignment Expansion Strategy
and Establishing a Re-Order Point
www.qnt561.com
Learning team paper
This assignment has two cases. The first case is on expansion
strategy. Managers constantly have to make decisions under
uncertainty. This assignment gives students an opportunity to use the
mean and standard deviation of probability distributions to make a
decision on expansion strategy. The second case is on determining at
which point a manager should re-order a printer so he or she doesn't
run out-of-stock. The second case uses normal distribution. The first
case demonstrates application of statistics in finance and the second
case demonstrates application of statistics in operations management.
Assignment Steps
Resources: Microsoft Excel®, Bell Computer Company Forecasts
data set, Case Study Scenarios
Write a 1,050-word report based on the Bell Computer Company

Forecasts data set and Case Study Scenarios.
Include answers to the following:
Case 1: Bell Computer Company
Compute the expected value for the profit associated with the two
expansion alternatives. Which decision is preferred for the objective
of maximizing the expected profit?
Compute the variation for the profit associated with the two
expansion alternatives. Which decision is preferred for the objective
of minimizing the risk or uncertainty?
Case 2: Kyle Bits and Bytes
What should be the re-order point? How many HP laser printers
should he have in stock when he re-orders from the manufacturer?
Format your assignment consistent with APA format.
==============================================
QNT 561 Week 3 Case Study SuperFun Toys (2
Papers)
www.qnt561.com
Individual Paper:
The purpose of this assignment is for students to learn how to make
managerial decisions using a case study on Normal Distribution. This
case uses concepts from Weeks 1 and 2. It provides students an
opportunity to perform sensitivity analysis and make a decision while
providing their own rationale. This assignment also shows students
that statistics is rarely used by itself. It shows tight integration of
statistics with product management.
Assignment Steps
Develop a 1,050-word case study analysis including the following:

• Use the sales forecaster’s prediction to describe a normal probability
distribution that can be used to approximate the demand distribution.
• Sketch the distribution and show its mean and standard deviation.
Hint: To find the standard deviation, think Empirical Rule covered in
Week 1.
• Compute the probability of a stock-out for the order quantities
suggested by members of the management team (i.e. 15,000; 18,000;
24,000; 28,000).
• Compute the projected profit for the order quantities suggested by
the management team under three scenarios: pessimistic in which
sales are 10,000 units, most likely case in which sales are 20,000
units, and optimistic in which sales are 30,000 units.
One of SuperFun’s managers felt the profit potential was so great the
order quantity should have a 70% chance of meeting demand and only
a 30% chance of any stock- outs. What quantity would be ordered
under this policy, and what is the projected profit under the three sales
scenarios?
SuperFun Toys, Inc., sells a variety of new and innovative children’s
toys. Management learned the pre-holiday season is the best time to
introduce a new toy because many families use this time to look for
new ideas for December holiday gifts. When SuperFun discovers a
new toy with good market potential, it chooses an October market
entry date. To get toys in its stores by October, SuperFun places one-
time orders with its manufacturers in June or July of each year.
Demand for children’s toys can be highly volatile. If a new toy
catches on, a sense of shortage in the marketplace often increases the
demand to high levels and large profits can be realized. However, new
toys can also flop, leaving SuperFun stuck with high levels of
inventory that must be sold at reduced prices. The most important
question the company faces is deciding how many units of a new toy
should be purchased to meet anticipated sales demand. If too few are
purchased, sales will be lost; if too many are purchased, profits will
be reduced because of low prices realized in clearance sales.

This is where SuperFun feels that you, as an MBA student, can bring
value.
For the coming season, SuperFun plans to introduce a new product
called Weather Teddy. This variation of a talking teddy bear is made
by a company in Taiwan. When a child presses Teddy’s hand, the
bear begins to talk. A built-in barometer selects one of five responses
predicting the weather conditions. The responses range from “It looks
to be a very nice day! Have fun” to “I think it may rain today. Don’t
forget your umbrella.” Tests with the product show even though it is
not a perfect weather predictor, its predictions are surprisingly good.
Several of SuperFun’s managers claimed Teddy gave predictions of
the weather that were as good as many local television weather
forecasters.
As with other products, SuperFun faces the decision of how many
Weather Teddy units to order for the coming holiday season.
Members of the management team suggested order quantities of
15,000, 18,000, 24,000, or 28,000 units. The wide range of order
quantities suggested indicates considerable disagreement concerning
the market potential.
Having a sound background in statistics and business, you are
required to perform statistical analysis and the profit projections
which is typically done by the product management group. You want
to provide management with an analysis of the stock-out probabilities
for various order quantities, an estimate of the profit potential, and to
help make an order quantity recommendation.
SuperFun expects to sell Weather Teddy for $24 based on a cost of
$16 per unit. If inventory remains after the holiday season, SuperFun
will sell all surplus inventories for $5 per unit. After reviewing the
sales history of similar products, SuperFun’s senior sales forecaster
predicted an expected demand of 20,000 units with a 95% probability
that demand would be between 10,000 units and 30,000 units.
One of SuperFun's managers felt the profit potential was so great the
order quantity should have a 70% chance of meeting demand and only
a 30% chance of any stock- outs. What quantity would be ordered

under this policy, and what is the projected profit under the three sales
scenarios?
==============================================
QNT 561 Week 3 DQ 1
www.qnt561.com
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?
==============================================
QNT 561 Week 3 DQ 2
www.qnt561.com
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.
==============================================
QNT 561 Week 3 Individual MystatslabProblemSet
www.qnt561.com
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 standard deviation
of the point-spread errors are = 1.7 and s = 13.1. Use this
information to test the hypothesis that the true mean point-spread
error for all games differs from 0. Conduct the test at α = 0.10 and
interpret the result.
6. If a hypothesis test were conducted using α = 0.025, for which
of the following p-values would the null hypothesis be rejected?
7. For the α and observed significance level (p-value) pair, indicate
whether the null hypothesis would be rejected.
α = 0.10, p-value = 0.001
8. In a test of the hypothesis H0:µ = 40 versus Ha: µ ≠ 40, a sample
of n = 50 observations possessed mean = 40.7 and standard
deviation s = 3.8. Find the p-value for this test.
9. In a study it was found that the averge age of cable TV shoppers
was 55 years. Suppose you want to test the null hypothesis, H0:µ = 55,
using a sample of n = 60 cable TV shoppers.

10. A sample of seven mesurements, randomly selected from a
normally distributed population, resulted in the summary statistics =
4.6 and s = 1.2. Complete parts athrough c.
11. A study analysis recent incidents involving terrorist attacks. Data
on the number of individual suicide bombings that occurred in each of
20 sampled terrorist group attcks against a country is reproduced in
the data table below. An Excel/DDXL printout is shown to the right.
Complete parts a through e.
12. When planning for a new forest road to be used for tree
harvesting, planners must select the location to minimize tractor
skidding distance. The skidding distances (in meters) were measured
at 20 randomly selected road sites. The data are given below. A
logger working on the road claims the mean skidding distance is
atleast 424 meters. Is there sufficient evidence to refute this claim?
Use α = 0.10 / α = 0.01.
13. For the binomial sample sizes and null hypothesized values of p
in each part, determine whether the sample size is large enough to
meet the required conditions for using the normal approximation to
conduct a valid large-sample hypothesis test of the null hypothesis H0:
p = p0. Complete parts a through e.
14. Suppose a consumer group rated 49 brands of toothpaste based on
whether or not the brand carries an American Dental 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.
15. In order to compare the means of two populations, independent
random samples of 410 observations are selected from each
population, with the results found in the table to the right. Complete
parts a through e.
16. 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?
17.

18. Independent random samples are selected from two populations
and are used to test the hypothesis H0: (µ1 - µ2) = 0 against the
alternative Ha: (µ1 - µ2) ≠ 0. An analysis of 234 observations from
population 1 and 310 from population 2 yielded a p-value of 0.113.
Complete parts a and b below.
19. A study was done to examine whether the perception of service
quality at hotels differd 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 a summary of the guest scores are
provided in the table. Complete parts a and b.
20. To determine if winning a certain award leads to a challenge in
life expectancy, researches sampled 748 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 lifespan of each pair
was compared. Complete parts a through c below.
21. A new testing method was developed to reduce a certain ratio.
The data in the table show the ratios that resulted from testing six
components using the standard method and the new method. Compare
the two methods with a 90% confidence interval. Which method has
the smaller mean ratio?
22. Consider making an interference about p1 – p2 , where there are
x1 successes in n1 binomial trails and x2 succeseses in n2 binomial
trails.
23. Construct a 90% confidence interval for (p1 – p2) in each of the
following situations.
24. In auction bidding the “winner’s curse” is the phenomenon of the
winning (or highest) bid price being above the expected value of the
item being auctioned. A study was conducted to see if less-
experienced bidders were more likely to be impacted by the curse
than super-experienced biders. The study showed that of the 180 bids
by super-experienced bidders, 26 winning bids were above the item’s
expected value, and of the bids by the 140 less-experienced bidders,
31 winning bids were above the item’s expected value. Complete
parts athrough d.

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.
=============================================
www.qnt561.com
Chapter 8:
Ex 2) The following is a list of 29 hospitals in the Cincinnati (Ohio)
and Northern Kentucky region. The hospitals are identified by
numbering them 00 through 28. Also included is whether the hospital
is a general medical/surgical hospital (M/S) or a specialty hospital (S).
we are interested in estimating the average number of full- and part-
time nurses employed in the area hospitals.
Ex 8) A population consists of the following five values : 1,1,6,7,9.
a. List all samples of size 3, and compute the mean of each sample
b. Compute the mean of the distribution of sample means and the
population mean.

Ex 12) scrapper Elevator Company has 20 sales representatives who
sell its product throughout the United States and Canada. The number
of units sold last month by each representative is listed below.
Assume these sales figures to the population values
a. Compute mean and population
Ex 16) A normal population has a mean of 75 and a standard
deviation of 5. You select a sample of 40.
a. Less than 74
b. Between 74 and 76
c. Between 76 and 77
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
==============================================
Research Project Part 2 Research Plan (2 Papers)
www.qnt561.com
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.
==============================================
www.qnt561.com
Individual Paper
The purpose of the assignment is to develop students' abilities in using
datasets to apply the concepts of sampling distributions and
confidence intervals to make management decisions.
Assignment Steps
Resources: Microsoft Excel®, The Payment Time Case Study, The
Payment Time Case Data Set
Review the Payment Time Case Study and Data Set.
Develop a 700-word report including the following calculations and
using the information to determine whether the new billing system
has reduced the mean bill payment time:
 Assuming the standard deviation of the payment times for all
payments is 4.2 days, construct a 95% confidence interval
estimate to determine whether the new billing system was
effective. State the interpretation of 95% confidence interval and
state whether or not the billing system was effective.
 Using the 95% confidence interval, can we be 95% confident
that µ ≤ 19.5 days?
 Using the 99% confidence interval, can we be 99% confident
that µ ≤ 19.5 days?

 If the population mean payment time is 19.5 days, what is the
probability of observing a sample mean payment time of 65
invoices less than or equal to 18.1077 days?
Please plagiarism free, she is acting to show how we got to the
numbers we got so show work. Must have excel worksheet also.
==============================================
QNT 561 Week 4 Discussion Descriptive Statistics
www.qnt561.com
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 (c) or (d)
(c) 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.

==============================================
QNT 561 Week 4 DQ 1
www.qnt561.com
does technological advancement affect the ability to collect data?
Provide examples. Does this advancement increase the chance for
errors? Explain.
==============================================
QNT 561 Week 4 DQ 2
www.qnt561.com
What is the importance of pretesting questions and instruments? What
are risks of not doing this? Provide an example.
==============================================
www.qnt561.com
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
the statement, “It is unethical for a downsizing decision to be
implemented on or prior to a major holiday.” Responses were
measured using a 5-point Likert scale, where 1 = strongly agree, 2 =
agree, 3 = neutral, 4 = disagree, and 5 = strongly disagree. Data on
both the qualitative variable “Group” and the quantitaive variable
“Ethics response” are shown in the accompanying table. The
researchers’ goal was to determine if any differences exist among the
mean ethics scores for the four groups. Complete parts a through d.
3. What conditions must n satisfy to make the x2 test valid?
4. 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.
5. Each child in a sample of 63 low-income children was
administered a language and communication exam. The sentence
complexity scires had a mean of 7.63 and a standard deviation of
8.95. Complete parts a through d.
6. Which hypothesis, the null or the alternative, is the status-quo
hypothesis?
7. Suppose the mean GPA of all students graduating from a
particular university in 1975 was 2.50. The register plans to look at
records of students graduating last year to see if the mean GPA has
changed. Define notation and state the null and alternative hypothesis
for this investigation.
8. A random sample of 100 observations from a population with
standard deviation 65 yielded a sample of 112. Complete parts a
through c.

9. For the α and observed significance level (p-value) pair, indicate
whether the null hypothesis would be rejected.
10. A study analysis recent incidents involving terrorist attacks. Data
on the number of individual suicide bombings that occurred in each of
20 sampled terrorist group attcks against a country is reproduced in
the data table below. An Excel/DDXL printout is shown to the right.
11. When planning for a new road to be used for tree harvesting,
planners must select the location to minimize tractor skidding
distance. The skidding distances (in meters) were measured at 20
randomly selected road sites. The data are given below. A logger
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. Complete parts a
through f below.
==============================================
www.qnt561.com
Chapter 10:
Ex 2) A Sample of 36 observations is selected from a normal
population. The sample mean is 12, and the population standard
deviation is 3. Conduct the following test of hypothesis using the 0.01
significance level.
EX. 10) Given the following hypotheses:
H0 : µ = 400
H1: µ ≠ 400
A random sample of 12 observations is selected from a normal
population. The sample mean was 407 and the sample S.D 6. Using
the 0.1 significance level:
a. State the decision rule.
b. Compute the value of the test statistic
c. What is your decision regarding the null hypothesis?
EX 12) The management of White Industries considering a new
method of assembling its golf cart. The present method requires 42.3
minutes, on the average, to assemble a cart. The mean assembly time
for a random sample of 24 carts, using the new method, was 40.6
minutes, and the standard deviation of sample was 2.7 minutes. Using

the .10 level of significance, can we conduct that the assembly time
using the new method is faster?
a. What is the decision rule?
b. Compute the value of test statistic.
c. What is your decision regarding Ho?
Ex 16) with the given hypotheses:
A random sample of six resulted in the following values: 118, 105,
112, 119, 105 and 111. Assume a normal population
a. Using the .05 significance level, determine the decision rule?
b. Compute the value of the test static.
c. 1. What is your decision regarding the Ho?
2. Can we conclude the mean is different from 100?
d. Estimate the p-value
Chapter 11:
Ex 2) A sample of 65 observations is selected from one population
with a population standard deviation of 0.75. The sample mean is
2.67. A sample of 50 observations is selected from a second
population with a population standard deviation of 0.66. The sample
mean is 2.59. Conduct of the following test of hypothesis using the
.08 significance level.
a. This is a ……… tailed test
b. State the decision rule
c. Compute the value of the test statistic
d. What is your decision regarding Ho?
e. What is the p-value?
Ex 8) The null and alternate hypotheses are:

A random sample of 15 observations from the first population
revealed a sample mean of 350 and a sample S.D of 12. A random
sample of 17 observations from the second population revealed a
sample mean of 342 and a sample S.D of 15.
At the .10 significance level, is there a difference in the population
means?
a. This is a ……… tailed test
b. The decision rule is to reject ……..
c. The test statistic is t= ………..
d. What is your decision regarding Ho?
e. The p-value is between 0.1 and 0.2?
Ex 14) The null and alternate hypotheses are:
A random sample of 20 items from the first population showed a
mean of 100 and a S.D of 15. A sample of 16 items from the second
population showed a mean of 94 and a S.D of 8.
Use the .05 significance level
a. Find the degrees of freedom for unequal variance test
b. State the decision rule for .05 significance level?
c. Compute the value of test statistic.
d. What is your decision regarding null hypothesis?
Chapter 12:
Ex 8) The following are six observations collected from treatment 1,
four observations collected from treatment 2, and five observation
collected from treatment 3. Test the hypothesis at the 0.05
significance level that the treatment means are equal.
a. State the null and the alternate hypothesis.
b. What is the decision rule?
c. Compute SST SSE, SS total

d. Complete the ANOVA table.
e. State your decision regarding null hypothesis?
Ex 12) From the given data of retail and banking stock
a. Using the .05 level of significance, is there a difference in the
mean rate of return among the three types of stock?
b. Can the analyst conclude there is a difference between the mean
rates of return for utility and retail stocks? For utility and banking
stocks? For banking and a retail stocks? Explain
Ex 18) There are three hospitals in the Tulsa, Oklahoma area. The
following data show the number of outpatient surgeries performed on
Monday, Tuesday, Wednesday, Thursday, and Friday at a each
hospital last week. At the 0.05 significance level, can we conclude
there is a difference in the mean number of surgeries performed by
hospital or by day of the week?
a. Set up the null hypothesis and the alternative hypothesis.
b. Alternative hypothesis
c. For blocks
d. Alternative hypothesis
e. State the decision for .05 significance level
f. Complete the ANOVA table
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 13:
EX. 16) Mr.James McWhinney, president Daniel-James Financial
Services, believes there is a relationship between number of client
contacts and the dollar amount of sales. To document this assertion,
Mr.McWhinney gathered the following sample information. The X

column indicates the number of client contacts last month, and
column Y shows the value of sales last month for each client sampled
a) Determine Regression equation
b) Determine Estimated sales if 40 contacts are made
EX.18) We are studying mutual bond funds for the purpose of
investing in several funds. For this particular study, we want to focus
on the assets of a fund and its five-year performance. The question is:
can the five-year rate of return be estimated based on the assets of the
fund? Nine mutual funds were selected at random and their assets and
rates of return are shown below.
b-1. compute the coefficient of correlation.
b-2. Compute the coefficient of determination
c) Give a description of the degree of association between the
variables
d) Determine the regression equation. Use assets as the independent
variable.
e) For a fund with $400.0 million in sales, determine the five-year
rate of return.
EX.30) On the first statistics exam, the coefficient of determination
between the hours studied and the grade earned was 80%. The
standard error of estimate was 10. There were 20 students in the class.
Develop an ANOVA table for the regression analysis of hours studied
as a predictor of the grade earned on the first statistics exam.
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?
==============================================

ResearchProjectPart 3 Survey and Data Collection
Plan (2 Sets)
www.qnt561.com
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.
==============================================
QNT 561 Week 5 DQ 1
www.qnt561.com
What is the value of performing hypotheses tests to solve problems
related to business and operations management? Provide specific
examples.

==============================================
QNT 561 Week 5 DQ 2
www.qnt561.com
What are differences between dependent and independent samples?
Provide examples. What are implications for determining the tests
used to analyze data?
==============================================
www.qnt561.com
1. Consider the pairs of measurements shown to the right.
2. Researchers investigated the effect of tablet surface area to
volume on the rate at which a drug is released in a controlled-release
dosage. For six similarly shaped tablets with different weights and
thicknesses, the diffusional drug release rate (percentage of drug
released divided by the square root of time) was determined. The
experimental data are listed in the table. Complete parts a through d.
3. Many entrepreneurs have donated money to various causes.
Data on the total amount pledged and remaining net worth for the 10
top donors are given in the table. Complete parts a through d.
4. Explain what each of the following sample correlation
coefficients tells you about the relationship between the x and y
values in the sample.
5. Construct a scttergram for each data set. Then calculate r and
r2 for each data set. Interpret their values. Complete parts a through d.

6. A university conducted a study on 446 business graduates who
had all completed the same business course. The study used
correlation coefficients to investigate the relationship between many
different business skills. Two of the many variables measured were
self-knowledge skill level (x) and goalsetting ability (y). The
correlation was r = 0.82. Complete parts a through c below.
7. Studies of managers from two countries in the 1970s found
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.
8. Suppose a statistication built a multiple regression model for
predicting the total number of runs scored by a baseball team during a
season.Use the β estimates to predict the number of runs scored by a
team with 303 walks, 856 singles, 263 doubles, 37 triples, and 124
home runs.
9. Consider fitting the multiple regression model, E(y), below. A
matrix of correlations for all pairs of independent variables on the
right. Do you detect a multicollinearity problem?
10. Identify the problem(s) in the residual plots shown below.
11. Researchers conducted a survey of a representative sample of
over 1,000 drivers. Based on how often each driver engaged in road
rage behaviour, a road rage score was given. The driver were also
grouped by animal income. The data were subjected to an analysis of
variance, with the results summarized in the table.
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.
==============================================
www.qnt561.com
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.
a. If we wants to estimate selling price on the basis of the age of
car, which variable is thr dependent varialble and which is the
independent variable?
b. 1. Determine the correlation coefficient
2. Determine the coefficient of determination.
c. Interpret the correlation coefficient. Does it surprise you that the
correlation coefficient is negative?
EX.12) The student Government Association at Middle Carolina
University wanted to demonstrate the relationship between the
number of beers a student drinks and his or her blood alcohol content
(BAC). A random sample of 18 students participated in a study in
which participating student was randomly assigned a number of beers,
a member of the local sheriff’s office measured their blood alcohol
content. The sample information is reported below.
1. Choose scattered diagram best fit data.
2. Fill in the blank below
3. State decision rule.

Ex 14) The following sample observations were randomly selected.
a. Determine the regression equation.
b. Determine the value of Y when X is 7.
Ex 18) We are studying mutual bond funds for the purpose of
investing in several funds. For this particular study, we want to focus
on the assets fund and its five-year performance. The question is : can
the five-year rate of return be estimated based on the assets of the
fund? Nine mutual funds were selected at random, and their assets
and rates of returns are shown below:
b-1. Compute the coefficient of correlation.
b-2. Compute the coefficient of determination
c. Give a description of the degree of association between the
variables.
d. Determine the regression equation. Use assets as the
independent variable
e. For a fund with $400.0 million in sales, determine the five year
rate of return
Ex 22) The owner of Maumee Ford-Mercury-Volvo wants to study
the relationship between the age of a car and its selling price. Listed
during last year
The regression equation is y=11.18-0.48X, the sample size is 12, and
the standard error of the slope is 0.23. Use the .05 significance level.
Can we conclude that the slope of the regression line is less than zero?
EX.26) The owner of Maumee Ford-Mercury-Volvo wants to study
the relationship between the age of a car and its selling price. Listed
during last year.
a) Determine standard error of estimation.

b) Determine the coefficient of determination.
c) Interpret the coefficient of determination
Chapter 14:
Ex 2) Thompson photo Works purchased several new, highly
sophisticated processing machines. The production department
needed some guidance with respect to qualification needed by an
operator. Is age a factor? Is the length of service as an operator
important? In order to explore further the factors needed to estimate
performance on the new processing machines, four variables were
listed?
X1 = Length of time an employee was in industry
X2= Mechanical aptitude test score
X3= Prior on-the-job rating
X4= Age
Performance on the new machine is designated y.
a. What is this equation called?
b. How many dependent and independent variable are there?
c. What is the number 0.286 called?
d. As age increases by one year, how much does estimated
performance on the new machine increase?
e. Carl Knox applied for job at photo works? He has been in
business for 6 yrs and scored 280 on the mechanical aptitude
test Carl’s prior on-the-job performance rating is 97, and he is
35 years old
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?
==============================================
www.qnt561.com

Week 5
Individual Paper
· Spicy Wings Case
The purpose of this assignment is to develop students' abilities to
combine the knowledge of descriptive statistics covered in Weeks 1
and 2 and one-sample hypothesis testing to make managerial
decisions. In this assignment, students will develop the ability to use
statistical analysis and verify whether or not a claim is valid before
advertising it.
Assignment Steps
Resources: Microsoft Excel®, Spicy Wings Case Study, Spicy Wings
Data Set
Develop a 700-word statistical analysis.
Use descriptive statistics to compute a measure of performance John
can use to analyze his delivery performance. Find the following for
your measures:
· Mean
· Standard deviation
· Sample size
· Five-number summary on the total time
Conduct a formal hypothesis testing to help John decide whether to
offer the delivery guarantee or not.
Estimate the probability of an order taking longer than 30 minutes.
Make a recommendation in a short narrative including the following:
· Based on the sampled data, should John offer the guarantee?
· What percent of the Saturday deliveries would result in a
customer receiving a free order?

· What recommendations might help John improve his Saturday
delivery times?
==============================================
Research Project Part 4 Data Analysis (2 Sets)
www.qnt561.com
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.
==============================================
QNT 561 Week 5 Team One-Sample Hypothesis
Testing (Election Results, SpeedX)
www.qnt561.com
Week 5
Learning team Paper
Part A : One-Sample Hypothesis Testing Cases
The purpose of this assignment is to develop students' abilities to
combine the knowledge of descriptive statistics covered in Weeks 1
and 2 and one-sample hypothesis testing to make managerial
decisions. In this assignment, students will learn how statistical
analysis is used in predicting an election winner in the first case. In
the second case, students will conduct a hypothesis test to decide
whether or not a shipping plan will be profitable.
Assignment Steps
Resources: Microsoft Excel®, Case Study Scenarios, SpeedX
Payment Times
Develop a 700- to 1,050-word statistical analysis based on the Case
Study Scenarios and SpeedX Payment Times.
Include answers to the following:
Case 1: Election Results
· Use 0.10 as the significance level (α).

· Conduct a one-sample hypothesis test to determine if the
networks should announce at 8:01 P.M. the Republican candidate
George W. Bush will win the state.
Case 2: SpeedX
· Use 0.10 and the significance level (α).
· Conduct a one-sample hypothesis test and determine if you can
convince the CFO to conclude the plan will be profitable.
Case Study #1 – Election Results
When an election for political office takes place, the television
networks cancel regular programming and instead, provide election
coverage. When the ballots are counted, the results are reported.
However, for important offices such as president or senator in large
states, the networks actively compete to see which will be the first to
predict a winner. This is done through exit polls, wherein a random
sample of voters who exit the polling booth is asked for whom they
voted. From the data, the sample proportion of voters supporting the
candidates is computed. Hypothesis testing is applied to determine
whether there is enough evidence to infer the leading candidate will
garner enough votes to win.
Suppose in the exit poll from the state of Florida during the 2000 year
elections, the pollsters recorded only the votes of the two candidates
who had any chance of winning: Democrat Al Gore and Republican
George W. Bush. In a sample of 765 voters, the number of votes cast
for Al Gore was 358 and the number of votes cast for George W.
Bush was 407. The network predicts the candidate as a winner if he
wins more than 50% of the votes. The polls close at 8:00 P.M. Based
on the sample results, conduct a one-sample hypothesis test to
determine if the networks should announce at 8:01 P.M. the
Republican candidate George W. Bush will win the state. Use 0.10 as
the significance level (α).
Case Study #2 – SpeedX

SpeedX, a large courier company, sends invoices to customers
requesting payment within 30 days. The bill lists an address, and
customers are expected to use their own envelopes to return their
payments. Currently, the mean and standard deviation of the amount
of time taken to pay bills are 24 days and 6 days, respectively. The
chief financial officer (CFO) believes including a stamped self-
addressed envelope would decrease the amount of time. She
calculates the improved cash flow from a 2-day decrease in the
payment period would pay for the costs of the envelopes and stamps.
You have an MBA from the University of Phoenix, and work for
SpeedX as a business analyst. One of your job duties is to run
analytics and present the results to the senior management for critical
decision-making. You see this as an opportunity to utilize some of the
skills you gained in the Statistics course. Because of your strong
understanding and background in inferential statistics, you decide to
take up this important assignment. You have learned any analysis in
inferential statistics starts with sampling. To test the CFO’s belief,
you decide to randomly select 220 customers and propose to include a
stamped self-addressed envelope with their invoices. The CFO
accepts your proposal and allows you to run a pilot study. You then
record the numbers of days until payment is received. Using your
statistical expertise and skills you gained in the class, conduct a one-
sample hypothesis test and determine if you can convince the CFO to
conclude that the plan will be profitable. Use 0.10 and the
significance level (α).
==============================================
QNT 561 Week 6 DQs
www.qnt561.com
After reading chapter 12, explain how ANOVA could help to explain
the association between two variables. Give an example.

After reading chapter 13, how ANOVA could help to understand the
expansion of the hypothesis testing of two variables?
After reading chapter 18, select a TQM chart and explain how we use
the chart selected.
==============================================
www.qnt561.com
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.
==============================================
www.qnt561.com
Individual Paper Signature Assignment

About Your Signature Assignment
This signature assignment is designed to align with specific program
student learning outcome(s) in your program. Program Student
Learning Outcomes are broad
statements that describe what students should know and be able to do
upon completion of their degree. The signature assignments might be
graded with an automated
rubric that allows the University to collect data that can be aggregated
across a location or college/school and used for program
improvements.
The purpose of this assignment is for students to synthesize the
concepts learned throughout the course. This assignment will provide
students an opportunity to build
critical thinking skills, develop businesses and organizations, and
solve problems requiring data by compiling all pertinent information
into one report.
Assignment Steps
Resources: Microsoft Excel®, Signature Assignment Databases,
Signature Assignment Options, Part 3: Inferential Statistics
Scenario: Upon successful completion of the MBA program, say you
work in the analytics department for a consulting company. Your
assignment is to analyze one of the
following databases:
Manufacturing
Hospital
Consumer Food
Financial
Select one of the databases based on the information in the Signature
Assignment Options.
Provide a 1,600-word detailed, statistical report including the
following:
Explain the context of the case
Provide a research foundation for the topic
Present graphs
Explain outliers
Prepare calculations

Conduct hypotheses tests
Discuss inferences you have made from the results
This assignment is broken down into four parts:
Part 1 – Preliminary Analysis
Part 2 – Examination of Descriptive Statistics
Part 3 – Examination of Inferential Statistics
Part 4 – Conclusion/Recommendations
Part 1 – Preliminary Analysis (3-4 paragraphs)
Generally, as a statistics consultant, you will be given a problem and
data. At times, you may have to gather additional data. For this
assignment, assume all the data
is already gathered for you.
State the objective:
What are the questions you are trying to address?
Describe the population in the study clearly and in sufficient detail:
What is the sample?
Discuss the types of data and variables:
Are the data quantitative or qualitative?
What are levels of measurement for the data?
Part 2 – Descriptive Statistics (3-4 paragraphs)
Examine the given data.
Present the descriptive statistics (mean, median, mode, range,
standard deviation, variance, CV, and five-number summary).
Identify any outliers in the data.
Present any graphs or charts you think are appropriate for the data.
Note: Ideally, we want to assess the conditions of normality too.
However, for the purpose of this exercise, assume data is drawn from
normal populations.
Part 3 – Inferential Statistics (2-3 paragraphs)
Use the Part 3: Inferential Statistics document.
Create (formulate) hypotheses
Run formal hypothesis tests
Make decisions. Your decisions should be stated in non-technical
terms.
Hint: A final conclusion saying “reject the null hypothesis” by itself
without explanation is basically worthless to those who hired you.
Similarly, stating the

conclusion is false or rejected is not sufficient.
Part 4 – Conclusion and Recommendations (1-2 paragraphs)
Include the following:
What are your conclusions?
What do you infer from the statistical analysis?
State the interpretations in non-technical terms. What information
might lead to a different conclusion?
Are there any variables missing?
What additional information would be valuable to help draw a more
certain conclusion?
==============================================
QNT 561 Week 6 Signature Assignment (Consumer
Food)
www.qnt561.com
Individual Paper Signature Assignment
About Your Signature Assignment
This signature assignment is designed to align with specific program
student learning outcome(s) in your program. Program Student
Learning Outcomes are broad
statements that describe what students should know and be able to do
upon completion of their degree. The signature assignments might be
graded with an automated
rubric that allows the University to collect data that can be aggregated
across a location or college/school and used for program
improvements.
The purpose of this assignment is for students to synthesize the
concepts learned throughout the course. This assignment will provide

students an opportunity to build
critical thinking skills, develop businesses and organizations, and
solve problems requiring data by compiling all pertinent information
into one report.
Assignment Steps
Resources: Microsoft Excel®, Signature Assignment Databases,
Signature Assignment Options, Part 3: Inferential Statistics
Scenario: Upon successful completion of the MBA program, say you
work in the analytics department for a consulting company. Your
assignment is to analyze one of the
following databases:
Manufacturing
Hospital
Consumer Food
Financial
Select one of the databases based on the information in the Signature
Assignment Options.
Provide a 1,600-word detailed, statistical report including the
following:
Explain the context of the case
Provide a research foundation for the topic
Present graphs
Explain outliers
Prepare calculations
Conduct hypotheses tests
Discuss inferences you have made from the results
This assignment is broken down into four parts:
Part 1 – Preliminary Analysis
Part 2 – Examination of Descriptive Statistics
Part 3 – Examination of Inferential Statistics
Part 4 – Conclusion/Recommendations
Part 1 – Preliminary Analysis (3-4 paragraphs)
Generally, as a statistics consultant, you will be given a problem and

data. At times, you may have to gather additional data. For this
assignment, assume all the data
is already gathered for you.
State the objective:
What are the questions you are trying to address?
Describe the population in the study clearly and in sufficient detail:
What is the sample?
Discuss the types of data and variables:
Are the data quantitative or qualitative?
What are levels of measurement for the data?
Part 2 – Descriptive Statistics (3-4 paragraphs)
Examine the given data.
Present the descriptive statistics (mean, median, mode, range,
standard deviation, variance, CV, and five-number summary).
Identify any outliers in the data.
Present any graphs or charts you think are appropriate for the data.
Note: Ideally, we want to assess the conditions of normality too.
However, for the purpose of this exercise, assume data is drawn from
normal populations.
Part 3 – Inferential Statistics (2-3 paragraphs)
Use the Part 3: Inferential Statistics document.
Create (formulate) hypotheses
Run formal hypothesis tests
Make decisions. Your decisions should be stated in non-technical
terms.
Hint: A final conclusion saying “reject the null hypothesis” by itself
without explanation is basically worthless to those who hired you.
Similarly, stating the
conclusion is false or rejected is not sufficient.
Part 4 – Conclusion and Recommendations (1-2 paragraphs)
Include the following:
What are your conclusions?
What do you infer from the statistical analysis?

State the interpretations in non-technical terms. What information
might lead to a different conclusion?
Are there any variables missing?
What additional information would be valuable to help draw a more
certain conclusion?
==============================================
Research Project Part 5 Research Report and
Presentation (2 Sets)
www.qnt561.com
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
business. There should be at least one graduate level statistical
equation used to support your analysis.
Recommend avenues for future research based on your research
results, challenges, and implications.
Format your Business Research Report consistent with APA
guidelines.
Develop a Microsoft®PowerPoint®presentation of no more than 15
slides that includes the following elements:
 Overall picture of the research process
 Summary of the research results including specific answers to
the research questions
 Summary of the challenges, implications, and
recommendations
Submit the cumulative Business Research Report and Microsoft®
PowerPoint ®presentation to your instructor.

QNT 561 Introduction Education--qnt561.com

Recommended

Recommended

More Related Content

What's hot

What's hot (19)

Similar to QNT 561 Introduction Education--qnt561.com

Similar to QNT 561 Introduction Education--qnt561.com (20)

Recently uploaded

Recently uploaded (20)

QNT 561 Introduction Education--qnt561.com