Unit: STA101 Statistics for Business
Total Marks: This assignment is worth 40 marks (40 % of the total marks in the unit).
• Students are required to cover all stated requirements.
• Your answer must be both uploaded to Moodle in word file and handed over a printed copy.
• You need to support your answers with appropriate Harvard style references where necessary.
• Include a title/cover page containing the subject title and code and the name, student id numbers.
• Please save the document as STA101AT1_first name_Surename_Student Number Eg: STA101AT1_John_Smith_NA20170000
Each of the following question worth 10 marks, please answer all of them. If needed please use Harvard referencing style. There is no word limit, but it is necessary that you provide answers with explanations.
Prof. Hardtack gave four Friday quizzes last semester in his 10-student senior tax accounting class.
Quiz 2: 65, 65, 65, 65, 70, 74, 79, 79, 79, 79
Quiz 3: 66, 67, 70, 71, 72, 72, 74, 74, 95, 99
Quiz 4: 10, 49, 70, 80, 85, 88, 90, 93, 97, 98
(a) Find the mean, median, and mode for each quiz.
(b) Do these measures of center agree? Explain.
(c) For each data set, note strengths or weaknesses of each statistic of center.
(d) Are the data symmetric or skewed? If skewed, which direction?
(e) Briefly describe and compare student performance on each quiz.
In a sample of 100 Planter's Mixed Nuts, 19 were found to be almonds.
(a) Construct a 90 percent confidence interval for the true proportion of almonds.
(b) May normality be assumed? Explain.
(c) What sample size would be needed for 90 percent confidence and an error of ± 0.03?
(d) Why would a quality control manager at Planter's need to understand sampling?
Consider the following Excel regression of perceived sound quality as a function of price for 27 stereo speakers.
(a) Is the coefficient of Price significantly different from zero at α = .05?
(b) What does the R2 tell you?
(c) Given these results, would you conclude that a higher price implies higher sound quality?
Suppose a pickup and delivery company states that their packages arrive within two days or less on average. You want to find out whether the actual average delivery time is longer than this. You conduct a hypothesis test.
(a) Set up the null and alternative hypotheses.
(b) Suppose you conclude wrongly that the company's statement about average delivery time is within two days. What type of error is being committed and what is the impact of that error?
(c) Suppose you conclude wrongly that the delivery company's average time to delivery is in fact longer than two days.What type of error did you commit and what is the impact of this error?
(d) Which error is worse from the company's standpoint, a Type I or a Type II error? Why?
(e)Which error is worse from a consumer standpoint, a Type I or a Type II error? Why?
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