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QNT 351 help Become Exceptional / qnt351mentor.com

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QNT 351 help Become Exceptional  / qnt351mentor.com

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


4A coffee manufacturer is interested in whether the mean daily consumption of regular-coffee drinkers is less than that of decaffeinated-coffee drinkers. A random sample of 50 regular-coffee drinkers showed a mean of 4.35 cups per day, with a standard deviation of 1.2 cups per day. A sample of 40 decaffeinated coffee drinkers showed a mean of 5.84 cups per day, with a standard deviation of 1.36 cups per day. What is your computed z-statistic?
 
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QNT 351 Final Exam Guide
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1) The main purpose of descriptive statistics is to
2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
4) What type of variable is the number of robberies reported in your city?
5) What level of measurement is the number of auto accidents reported in a given month?
6) The names of the positions in a corporation, such as chief operating officer or controller, are examples of what level of measurement?
7) Shoe sizes, such as 7B, 10D, and 12EEE, are examples of what level of measurement?
8) Monthly commissions of first-year insurance brokers are $1,270, $1,310, $1,680, $1,380, $1,410, $1,570, $1,180, and $1,420. These figures are referred to as
9) A small sample of computer operators shows monthly incomes of $1,950, $1,775, $2,060, $1,840, $1,795, $1,890, $1,925, and $1,810. What are these ungrouped numbers called?
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QNT 351 Week 1 Connect Problems
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QNT 351 Week 1 Connect Problem
1. Which of the following is an example of a continuous variable?
2. The incomes of 50 loan applicants are obtained. Which level of measurement is income?
3. The members of each basketball team wear numbers on their jerseys. What scale of measurement are these numbers considered?
4. The reported unemployment is 5.5% of the population. What measurement scale is used to measure unemployment?
5. The Nielsen Ratings break down the number of people watching a particular television show by age. What level of measurement is age?
6. An example of a qualitative variable is _________________.
7. Two thousand two hundred frequent business travelers are asked which midwestern city they prefer: Indianapolis, Saint Louis, Chicago, or Milwaukee. 112 liked Indianapolis best, 452 liked Saint Louis, 1295 liked Chicago, and the remainder preferred Milwaukee. Develop a frequency table and a relative frequency table to summarize this information.
8. The Cambridge Power and Light Company selected a random sample of 20 residential customers. Following are the amounts, to the nearest dollar, the customers were charged for electrical service last month:
a. Compute the arithmetic mean.(Round your answer to 2 decimal places.)
b. Indicate whether it is a statistic or a parameter.
9. Consider these five values a population: 6, 3, 7, 3, and 7.
a. Determine the mean of the population.
b. Determine the variance of the population.
10. An investor buys 100 shares of AT&T stock and records its price change daily. Which concept of probability would you use to estimate the probability of an individual event?
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QNT 351 Week 1 DQ 1
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Week 1 DQ1
Where would you see descriptive statistics used in your work place?
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QNT 351 Week 1 DQ 2
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Week 1 DQ2
How would you define dependent and independent variables? What is their significance in research? Explain with examples.
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QNT 351 Week 1 DQ 3
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Week 1 DQ3
Develop five demographic questions to measure gender, age, years of experience, level of education, and ethnicity. Identify the level of measurement used for each
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QNT 351 Week 1 DQ 4
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Week 1 DQ4
How would you define a variable? What is the difference between a dependent and independent variable? Do you think both variables are used in every research? Explain why or why not. Provide examples.
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QNT 351 Week 1 DQ 5
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Week 1 DQ5
What is the importance of statistics in business decision making? Describe a business situation where statistics was used in making a decision.
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QNT 351 Week 1 DQ 6
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Week 1 DQ6
What are the four data measurement scales? Provide two examples and explain the importance of each in business research.
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QNT 351 Week 1 Individual Assignment Statistics in Business (2 Sets)
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This tutorial contains 2 different Sets of papers
 
Define statistics.
Identify different types of statistics.
Describe the role of statistics in business decision making.
Write a 300-word summary providing at least three examples or problem situations in which statistics was used or could be used.
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QNT 351 Week 2 Connect Problems
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QNT 351 Week 2 Connect Problem
1. The director of admissions at Kinzua University in Nova Scotia estimated the distribution of student admissions for the fall semester on the basis of past experience.
a. What is the expected number of admissions for the fall semester?
b. Compute the variance and the standard deviation of the number of admissions.
2. The Internal Revenue Service is studying the category of charitable contributions. A sample of 28 returns is selected from young couples between the ages of 20 and 35 who had an adjusted gross income of more than $100,000. Of these 28 returns, 5 had charitable contributions of more than $1,000. Suppose 4 of these returns are selected for a comprehensive audit.
a. You should use the hyper geometric distribution is appropriate. Because
b. What is the probability exactly one of the four audited had a charitable deduction of more than $1,000?
c. What is the probability at least one of the audited returns had a charitable contribution of more than $1,000?
 
3. According to the "January theory," if the stock market is up for the month of January, it will be up for the year. If it is down in January, it will be down for the year. According to an article in The Wall Street Journal, this theory held for 28 out of the last 34 years. Suppose there is no truth to this theory; that is, the probability it is either up or down is 0.5.
What is the probability this could occur by chance?
4. Customers experiencing technical difficulty with their internet cable hookup may call an 800 number for technical support. It takes the technician between 150 seconds and 14 minutes to resolve the problem. The distribution of this support time follows the uniform distribution.
a. What are the values for a and b in minutes?
b-1. What is the mean time to resolve the problem?
b-2. What is the standard deviation of the time?
c. What percent of the problems take more than 5 minutes to resolve?
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QNT 351 Week 2 DQ 1
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Week 2 DQ1
Can mean, median, or mode be calculated from all statistical data? Explain why or why not. When is the mean the best measure of central tendency? When is the median the best measure of central tendency?
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QNT 351 Week 2 DQ 2
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Week 2 DQ2
Describe a business situation, other than what has already been selected by fellow students or selected from the team assignment, where mean and standard deviation can be used in decision making. Describe how calculation of mean and standard deviation can help in making a decision.
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QNT 351 Week 2 DQ 3
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Week 2 DQ3
What level of data is a telephone number? Explain.
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QNT 351 Week 2 DQ 4
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Week 2 DQ4
Does all data have a mean, median, or mode? Why or why not? When is the mean the best measure of central tendency? When is the median the best measure of central tendency?
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QNT 351 Week 2 DQ 5
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Week 2 DQ5
Why is the population shape a concern when estimating a mean? What effect does sample size, n, have on the estimate of the mean?
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QNT 351 Week 2 Individual Assignment My StatsLab (2 Sets)
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QNT 351 Week 2 Individual Assignment My StatsLab 10 Problems
 
 
Week 2 Problems
1.Choose the correct answer bellow:
A. It is an estimate or prediction or some other generalization about a population based on information contained in a sample
B. It is a characteristic or property of an individual experimental unit
C. It is the process used to assign numbers to variables of individual population units
D. It is the science that deals with collection, classification, and interpretation of information or data
 
2. Explain the difference between qualitative and quantitative data
Choose the correct answer bellow
A. Quantitative data are collected from an observational study , while qualitative data are from a designed experiment
B. Quantitative data are data from a sample, while qualitative data are data from a population
C. Quantitative data are numerical in nature, while qualitative data are categorical in nature
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QNT 351 Week 2 Learning Team Assignment Data Collection (2 Sets)
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This tutorial contains 2 different Sets of papers
 
Discuss with your team whether you have data from RES/351, and if your team would like to use one team member’s data for the Learning Team assignments in this course.
 
If using data from RES/351:
 
Resources: Data collected from RES/351
 
Prepare a 700- to 1,050-word written report along with a 5- to 7-slide Microsoft® PowerPoint® presentation for the senior management team or stakeholders of your RES/351 research project to present your findings.
 
Address the following:
 
Present the chosen situation as an overview—problem, purpose, research questions, and hypotheses.
Describe and the instrument used for data collection.
Identify types of data—quantitative, quantitative, or both—and how the data is collected.
Identify the level of measurement for each of the variables involved in the study.
Code the data if you have not done so. Describe how the data is coded and evaluate the procedure used.
Clean the data by eliminating the data input errors made.
Draw conclusions about appropriateness of data to meet the purpose of the study.
 
If you decide not to use your own data, you can use the Ballard Integrated Managed Services, Inc., case study overview:
 
Resources: University of Phoenix Material: Ballard Integrated Managed Services, Inc., Part 1
 
Review the Ballard Integrated Managed Services, Inc. (BIMS) case study overview.
 
Prepare a 700- to 1,050-word written report along with a 5- to 7-slide Microsoft® PowerPoint® presentation for the senior management team to present your findings (see Exhibit D for the data set of the second survey).
 
Address the following:
 
Present the BIMS situation as an overview—problem, purpose, research questions, and hypotheses.
Describe the instrument used for data collection.
Identify types of data collected—quantitative, qualitative, or both—and how the data is collected.
Identify the level of measurement for each of the variables involved in the study.
Code the data if you have not done so. Describe how the data is coded and evaluate the procedure used.
Clean the data by eliminating the data input errors made.
Draw conclusions about appropriateness of data to meet the purpose of the study.
 
Note. As consultants to BIMS, your Learning Team is expected to prepare and deliver a professional product addressing the client's needs.
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QNT 351 Week 3 Connect Problems
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Award: 10 out of 10.00 points
 
A sample of 43 observations is selected from a normal population. The sample mean is 30, and the population standard deviation is 3. Conduct the following test of hypothesis using the 0.05 significance level.
 
a. Is this a one- or two-tailed test?
 
b. What is the decision rule? (Round your answer to 3 decimal places.)
c. What is the value of the test statistic? (Round your answer to 2 decimal places.)
d. What is your decision regarding H0?
e. What is the p-value? (Round your answer to 4 decimal places.)
 
2.At the time she was hired as a server at the Grumney Family Restaurant, Beth Brigden was told, “You can average $86 a day in tips.” Assume the population of daily tips is normally distributed with a standard deviation of $3.81. Over the first 48 days she was employed at the restaurant, the mean daily amount of her tips was $87.07. At the 0.02 significance level, can Ms. Brigden conclude that her daily tips average more than $86?
 
a. State the null hypothesis and the alternate hypothesis.
 
b. State the decision rule.
 
c. Compute the value of the test statistic. (Round your answer to 2 decimal places.)
 
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QNT 351 Week 3 DQ 1
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Week 3 DQ1
What are the differences between probability and coincidence? Can the probability be more than 1 or less than 0? Explain why or why not.
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QNT 351 Week 3 DQ 2
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Week 3 DQ2
What is the role of probability concepts in business decision-making? Provide specific examples.
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QNT 351 Week 3 DQ 3
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Week 3 DQ3
What are the basic differences between a discrete and a continuous distribution?
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QNT 351 Week 3 DQ 4
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Week 3 DQ4
What are the characteristics of standard normal distribution? Explain how to calculate the z-test static. Explain how a z-value is used to calculate the area under the distribution and the meaning of P(0 to z) when z = 1.96.
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QNT 351 Week 3 Individual Assignment My StatsLab 14-Problems (2 Sets)
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QNT 351 Week 3 Individual Assignment My StatsLab 14-Problems
 
This tutorial contains 2 Sets of stats lab problems also
 
This tutorial contains excel file which can be used to solve your lab problems even if the values doesn’t doesn’t match
 
 
Week 3 Problems
1. An industrial group reports that there were approximately 122,000 industrial robots operating in a region last year. The graph shows the percentages of industrial robot units assigned to each of six task categories.
 
2. In one university, language professors incorporated a 10-week extensive readings program to improve students’ Japanese reading comprehension. The professor 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 course. The books were categorized into reading levels (color-coded for easy selection) according to length and complexity. Complete parts a trough c.
We have another set of Question 2 with different values of pie chart, scroll down to see if it
 
3. One organization estimates that there are 13,140 rhinoceroses living in the wild in a continent. A breakdown of the number of rhinos of each species is reported in the accompanying table. Complete parts a trough c.
 
a. One of the 13,140 rhinoceroses is selected and the species of the rhinoceros is determined. What type of data (quantitative or qualitative) is measured?
 
 
4. One organization estimates that there are 13,090 rhinoceroses living in the wild in a continent. A breakdown of the number of rhinos of each species is reported in the accompanying table. Complete parts a through c.
 
a. One of the 13,090 rhinoceroses is selected and the species of the rhinoceroses is determined. What type of data (qualitative or quantitative) is measured?
 
5. A government study found that the number of non-cash payments in a country reached 92.7 billion transactions during the year 2007. The pie chart to the right describes the proportions of these non-cash transactions that were made with credit cards (CC), debit cards (D), checks (C), electronic benefit transfers (EBT) cards, and automatic clearing house (ACH) payments. Complete parts a trough d.
 
a. Describe the population of interest in the study. Choose the correct answer bellow.
A. The population is the country making the transactions during the year
B. The population is the government that conducted the survey
C. The population is all transactions made using a credit card or debit card during the year
D. The population is all non-cash transactions made during the year
 
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QNT 351 Week 3 Individual Assignment Real Estate Data
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Resources: Appendix A1 at the end of Basic Statistics for Business and Economics
Answer question 68 in the Data Set Exercises from Ch. 3 of Basic Statistics for Business and Economics.
Answer question 34 in the Data Set Exercises from Ch. 4 of Basic Statistics for Business and Economics.
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QNT 351 Week 3 Team Assignment Summarizing and Presenting Data (2 Sets)
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This tutorial contains 2 different Sets of papers
 
If using RES/351 data:
Revise the report submitted in Week Two based on the feedback provided by the instructor in the team assignment, and insight gained by reading.
Summarize the data collected using descriptive statistics. Descriptive statistics should be in the forms of frequency distribution table, measures of mean, median, mode, standard deviation, and graphical display of data.
Summarize the statistics in relation to the problem selected and research questions and draw conclusions.
Prepare a 1,050- to 1,750-word report of conclusions drawn from the data and make recommendations to the management.
Support recommendations by citing literature consistent with APA guidelines.
If using the Ballard Integrated Managed Services, Inc., (BIMS) case study overview:
Revise the report submitted in Week Two based on the feedback provided by the instructor in the team assignment, and insight gained by reading.
Analyze the data included in BIMS case study Part 1 by computing descriptive statistics in the form of tables, charts, measures of central tendency, and variability.
Prepare a 1,050- to 1,750-word report of conclusions drawn from the data and make recommendations to the management.
Support recommendations by citing literature consistent with APA guidelines.
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QNT 351 Week 4 DQ 1
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Week 4 DQ1
What are some terms related to hypothesis testing with which you are already familiar? Why do null and alternative hypotheses have to be mutually exclusive?
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QNT 351 Week 4 DQ 2
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Week 4 DQ2
Why does the significance level differ among industries? Will the null hypothesis be more likely to be rejected at α = 0.01 than α = 0.10? As the significance level increases to α = 0.10 from α = 0.01, which type error is more likely to occur? What can be done to reduce the likelihood of incurring this error?
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QNT 351 Week 4 DQ 3
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Week 4 DQ3
Please explain the five steps used in hypothesis testing. How does the five-step procedure for hypothesis testing differ when comparing two groups using a t- or z-test? How is the process similar?
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QNT 351 Week 4 DQ 4
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Week 4 DQ4
Please explain terms related to hypothesis testing; please explain null and alternate hypotheses, explain the difference between two different test statistics, then define the equations used in both. Why do null and alternative hypotheses have to be mutually exclusive?
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QNT 351 Week 4 Individual Assignment MyStatsLab 14-Problems (2 Sets)
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QNT 351 Week 4 Individual Assignment MyStatsLab 14-Problems
 
This tutorial contains 2 Sets of stats lab problems also
 
This tutorial contains excel file which can be used to solve your lab problems even if the values doesn’t doesn’t match
 
 
Week 4 Problems
1. Determine whether the random variable is discrete or continuous.
a. the number of textbook authors now sitting at a computer
b. the weight of a T-bone steak
c. the number of fish caught during a fishing tournament
d. the time it takes to fly from city A to city B
e. the number of points scored during a basketball game
a. Is the number of textbook authors now sitting at a computer?
A. The random variable is discrete
 
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QNT 351 Week 4 Individual Assignment Real Estate Data
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Resources: Appendix A1 at the end of Basic Statistics for Business and Economics
Answer question 60 (both parts a. and b.) in the Data Set Exercises from Ch. 6 of Basic Statistics for Business and Economics.
Answer question 54 (both parts a. and b.) in the Data Set Exercises from Ch. 7 of Basic Statistics for Business and Economics.
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QNT 351 Week 4 Learning Team Reflection (2 Sets)
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QNT 351 Week 4 Learning Team Reflection
 
This tutorial contains 2 different sets
 
Discuss the following with your Learning Team:
The steps in testing a research hypothesis
Comparing the means of two or more groups
Calculating the correlation between two variables
Include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field.
Prepare a 350- to 1,050-word paper detailing the findings of your discussion.
Click the Assignment Files tab to submit your assignment.
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QNT 351 Week 5 Individual Assignment Real Estate Data
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Resources: Appendix A1 at the end of Basic Statistics for Business and Economics
Answer question 58 in the Data Set Exercises from Ch. 10 of Basic Statistics for Business and Economics.
Answer question 62 in the Data Set Exercises from Ch. 13 of Basic Statistics for Business and Economics.
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QNT 351 Week 5 Learning Team Assignment Analyzing and Interpreting Data Paper and Presentation
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If using RES/351 data:
Ask your instructor for specific information regarding the analysis you are required to perform for your data set.
Combine your Week Two Learning Team assignment and Week Three findings with Week Five findings and make a recommendation to the research problem.
Use the statistical tables given in the appendices of the textbook and a statistical analysis application: a Microsoft® Excel® spreadsheet, Minitab® statistical software, or SPSS™ software.
Prepare a 1,050- to 1,750-word written report along with a 7- to 9-slide Microsoft® PowerPoint® presentation for the senior management team to present your findings.
If using the Ballard Integrated Managed Services, Inc. (BIMS) case study overview:
Read the University of Phoenix Material: Ballard Integrated Managed Services, Inc., Part 2. Your team acts as a consultant group that analyzes and interprets this second set of data. The intent is to increase senior management’s understanding of the sources of employee dissatisfaction and to create a model that predicts employee resignation.
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