Questions from Business Statistics

Q: Answer the parts of exercise 1 using age in place of annual

Answer the parts of exercise 1 using age in place of annual salary. Data from exercise 1: Break down the annual salaries into three groups according to training level (A, B, or C). a.* Draw box plot...

Q: There are two locations in town (north and south) under

There are two locations in town (north and south) under consideration for a new restaurant, but only one location will actually become available. If it is built in the north, the restaurant stands a 9...

Q: The coming year is expected to be a good one with probability0

The coming year is expected to be a good one with probability0.70. Given that it is a good year, you expect that a dividend will be declared with probability 0.90. However, if it is not a good year, t...

Q: You are operations manager for a plant that produces copy machines.

You are operations manager for a plant that produces copy machines. At the end of the day tomorrow, you will find out how many machines were produced and, of these, how many are defective. a. Describe...

Q: Your firm is considering the introduction of a new toothpaste. At

Your firm is considering the introduction of a new toothpaste. At a strategy session, it is agreed that a marketing study will be successful with probability 0.65. It is also agreed that the probabili...

Q: Consider the quality of cars, as measured by the number of

Consider the quality of cars, as measured by the number of cars requiring extra work after assembly, in each day’s production for 15 days: 30, 34, 9, 14, 28, 9, 23, 0, 5, 23, 25, 7, 0, 3, 24 a. Find t...

Q: List and briefly describe the different methods for summarizing a data set

List and briefly describe the different methods for summarizing a data set.

Q: What are the five basic ways in which data sets can be

What are the five basic ways in which data sets can be classified?

Q: What general questions can be answered by analysis of a.

What general questions can be answered by analysis of a. Univariate data? b. Bivariate data? c. Multivariate data?

Q: Why is random sampling a good method to use for selecting items

Why is random sampling a good method to use for selecting items for study?