Qnt 561 - 2214 Words

Chapter 3; 80, 82, 87 80. Creek Ratz is a very popular restaurant located along the coast of northern Florida. They serve a variety of steak and seafood dinners. During the summer beach season, they do not take reservations or accept â€Å"call ahead† seating. Management of the restaurant is concerned with the time a patron must wait before being seated for dinner. Listed below is the wait time, in minutes, for the 25 tables seated last Saturday night. |28 |39 |23 |67 |37 |28 |56 |40 |28 |50 | |51 |45 |44 |65 |61 |27 |24 |61 |34 |44 | |64 |25 |24 |27 |29 | | | | | | a. Explain why the times are a population. These times†¦show more content†¦- Mean = 23215.8/105 = 221.10 - The median selling price is (in thousands) $221.10 - The standard deviation is 47.1054. - The distribution of the selling prices how that the average selling price is $221,110. The median home selling price was $213,600. This is calculated by sorting the prices from smallest to greatest and selecting the price that is in the middle of the list. The standard deviation of 47.1054 means that 67% of the prices were 1 standard deviation, either higher or lower, from the mean. b. Select the variable referring to the area of the home in square feet. 1.) Find the mean, median, and the standard deviation. - Mean = 233500/105 = 2223.81 - The median square footage is 2200. - The standard deviation is 248.66. - The distribution of the square footages shows that the average square footage is 2223.81. The median home square footage is 2200. This is calculated by sorting the square footages from smallest to greatest and selecting the value that is in the middle of the list. The standard deviation of 248.66 means that 67% of the square footages were 1 standard deviation, either higher or lower, from the mean. QNT 561 – Week 1 Problem Set 7 Chapter 5; 34, 36, 38 34. P(A1) = .20, P(A2) = .40, and P(A3) = .40. P(B1|A1) = .25. P(B1|A2) = .05, and P(B1|A3) = .10. Use Bayes theorem to determine P(A3 | B1). - P(A3/B1) = P(A3)P(B/A3) / P(A1)P(B/A1) + P(A2)P(B/A2) + P(A3)P(B/A3) =Show MoreRelatedQnt 561 Week21280 Words   |  6 PagesCentral Limit Theorem and Confidence Intervals Problem Sets Tiffany Blount QNT 561 September 7, 2010 Michelle Barnet University of Phoenix Central Limit Theorem and Confidence Intervals Problem Sets Chapter 8 Exercises: 21. What is sampling error? Could the value of the sampling error be zero? If it were zero, what would this mean? * Sampling error is the difference between the statistic estimated from a sample and the true population statistic. It is not impossible for the samplingRead MoreQnt 561705 Words   |  3 PagesTICKET PRICES UEFA League final tickets are the most prestige tickets in the world. After doing a sample of 240 punters who have premier seats for the UEFA League Final match, it was determine that many people are paying more than the face value of $1,100, but they are not paying more than $1,500. UEFA League officials sell out tickets each year for the UEFA League Final match within a month of releasing tickets. However, most tickets are resold to third and possibly fourth parties.Read MoreQNT 561 Final Exam1367 Words   |  6 Pages HYPERLINK http://www.finalexamanswer.com/QNT-561-Final-Exam_p_61.html DOWNLOAD ANSWERS QNT 561 Final Exam 1) Which of the following measures of central  location  is affected most by extreme values?  A. MeanB. MedianC. Mode  D. Geometric mean 2) A correlation matrix†¦A.Shows all simple coefficients of correlation between variablesB. shows only correlations that are zeroC. shoes the correlations that are positiveD. shows only the correlations that are statistically significant 3) In a set of observationsRead MoreQnt 561 Complete Class Essay963 Words   |  4 PagesQNT 561 Complete Class Purchase here http://homeworkonestop.com/qnt-561-complete-class Product Description QNT 561 (Applied Business Research and Statistics ) Week 1 Individual Week One Practice Problems Complete the following Week One Practice Problems in MyStatLab ®: †¢ Ch. 2 of Statistics for Business and Economics o 2.37, 2.38, 2.44, 2.46, 2.54, 2.64, 2.68, 2.79, 2.85, 2.89, 2.93, 2.94, 2.106, and 2.108 †¢ Ch. 4 of Statistics for Business and Economics o 4.1, 4.12, 4.13Read MoreQnt-561 Week 1 Essay741 Words   |  3 PagesWeek Four Team Paper xxxxxxxxxxxxxx QNT/561 August 1, 2012 xxxxxxxxx Week 4 Team Paper Best Buy is a company that has 40 years of history with a very accomplished sense of success. In 1966 Best Buy was a small electronics store in that originated in St. Paul Minnesota by Richard Schulze and an acquainted business partner. Considering that technology changes so rapidly, Best Buy has had to transform from just being the little electronics store down the way into a competitiveRead MoreWeek 6 Statistics Qnt 5611098 Words   |  5 PagesChapt 10 # 42 H0: game length is = 3.5 hours Ha: game length is 3.5 hours mean = 2.9553 stdev = 0.5596 Get the t test statistic: t = (x-mu)/(stdev/sqrt(N)) t = (2.9553-3.5)/(0.5596/sqrt(17)) t = -4.0133 Get the critical value for df = N-1 = 16, one tail, alpha is 0.05: -1.7459 Since our test statistic is much lower than the critical value, we reject the null hypothesis. There is enough evidence to conclude that games are shorter than 3.50 hours. Chapt 11 # 58 The amountRead MoreQnt 561 Week 1 Individual Assignment983 Words   |  4 PagesQNT/561: Week One Assignment Exercises 80, 82, and 87 (Ch. 3) Exercise 80* a. The times are a population because we are considering the wait times for all of the customers seated on Saturday night. b. To find the mean:  µ = ∑ X N  µ = 1021 25  µ = 40.84 To find the median: The midpoint value of the population is 39. c. To find the range: Range = Largest Value – Smallest Value Range = 67 – 23 Range = 44 To find the standard deviation: ÏÆ' = √∑ (X -  µ)2 Read MoreQnt/561 Week 1 Assign1013 Words   |  5 PagesChapter 3 - 80. Creek Ratz is a very popular restaurant located along the coast of northern Florida. They serve a variety of steak and seafood dinners. During the summer beach season, they do not take reservations or accept â€Å"call ahead† seating. Management of the restaurant is concerned with the time a patron must wait before being seated for dinner. Listed below is the wait time, in minutes, for the 25 tables seated last Saturday night. 28 39 23 67 37 28 56 40 28 50 51 45 44 65 61 27 24 61 34Read MoreQnt/561 Applied Business Research Statistics939 Words   |  4 PagesApplied Research and Statistics QNT561 Research and Sampling Designs Shindeera Robinson June 21, 2010 Chapter 8 21. What is sampling error? Could the value of the sampling error be zero? If it were zero, what would this mean? Sampling error is the difference between the statistic estimated from a sample and the true population statistic. While we would expect the sampling error to not be zero, it is not impossible. For example if you were evaluating the ethnicities of a population and everyoneRead MoreEssay on Uop Qnt 561 Business Research Methods1248 Words   |  5 PagesBusiness Research Methods Abbott Laboratories is faced with the dilemma of an expiring drug patent and is seeking an additional indication from the Food and Drug Administration (FDA) for its cholesterol drug Niaspan. In order to receive an indication from the FDA, a drug company must present two successful studies with the intended outcome. Niaspan has the FDA indication to raise HDL-C, reduce secondary non-fatal myocardial infarction, and regression of atherosclerosis in combination with a bile