Statistics for Decision-Making

Page: 1   2   ( T C O 1 ) W h a t m e t h o d o f d a t a c o l l e c t i o n w o u l d y o u u s e   t o c o l l e c t d a t a f o r a s t u d y w h e r e a p o l i t i c a l p o l l s t e r w i s h e s t o d e t e r m i n e i f h i s c a n d i d a t e i s l e a d i n g i n t h e p o l l s ? Student Answer:  use a simulation   perform an experiment   take a census   use sampling (a subset of the population is obtained; Chapter 1)   Points Received: 0 of 3   Comments: ( T C O 2 ) I n t h e y e a r 2 0 1 3 , 1 4 8 m i l l   i o n A m e r i c a n s w i l l b e e n r o l l e d i n a n H M O . T h i s s t a t e m e n t d e s c r i b e s Student Answer:  inferential statistics (use probability to infer something about the population; Chapter 1)    descriptive statistics   Points Received: 0 of 3   Comments: ( T C O 2 ) T h e n u m b e r o f c o m p l a i n t   l e t t e r s r e c e i v e d b y t h e U S P S i n a g i v e n d a y a r e Student Answer:  quantitative (use numerical measurement; Ch 1)   qualitative   Points Received: 0 of 3   Comments: ( T C O 1 ) A l o b b y i s t f o r a m a j o r a i r s p a c e f i r m a s s i   g n s a n u m b e r t o e a c h l e g i s l a t o r a n d t h e n u s e s a c o m p u t e r t o r a n d o m l y g e n e r a t e t e n n u m b e r s . T h e l o b b y i s t c o n t a c t s t h e l e g i s l a t o r s c o r r e s p o n d i n g t o t h e s e n u m b e r s . W h a t s a m p l i n g t e c h n i q u e i s u s e d ? Student Answer:  random (Each legislator has an equal chance of being selected; Ch 1)   stratified    systematic   convenience   cluster   Points Received: 3 of 3   Comments: ( T C O 2 ) T   h e a v e r a g e s a l a r y o f a l l G e n e r a l M o t o r s w o r k e r s i s $ 4 2 , 5 0 0 . T h i s n u m b e r i s a Student Answer:  parameter (calculated from the population of all GM workers; Ch 2)   statistic   Points Received: 0 of 3   Comments: ( T C O 2 ) S u b j e c t s i n a s   a m p l e , w h e n p r o p e r l y s e l e c t e d , s h o u l d p o s s e s s Student Answer:  the same or similar characteristics as the population desired. (Chapter 1)   the same number of discrete variables as the population desired.   the same qualitative characteristics as the population desired.    confounding variables that differ from the population desired.   Points Received: 3 of 3   Comments: ( T C O 2 ) S u p p o s e t h e s t a n d a r d d e v i a t i o n i s 1 2 . 4 . W h a t   i s t h e v a r i a n c e ? Student Answer:  12.4   153.76 (Ch 2: variance is the standard deviation squared)   3.52   14.6   Points Received: 3 of 3   Comments: ( T C O 1 0 ) T h i s d a t a s h o w s   t h e t e m p e r a t u r e s o n r a n d o m l y c h o s e n d a y s d u r i n g a s u m m e r c l a s s a n d t h e n u m b e r o f a b s e n c e s o n t h o s e d a y s . ( t e m p e r a t u r e , n u m b e r o f a b s e n c e s ) ( 7 2 , 3 ) , ( 8 5 , 7 ) , ( 9 1 , 1 0 ) , ( 9 0 , 1 0 ) , ( 8 8 , 8 ) , ( 9 8 , 1 5 ) , ( 7 5 , 4 ) , ( 1 0 0 , 1 6 ) , ( 8 0 , 5 ) F i n d t h e e q u a t i o n o f t h e r e g r e s s i o n l i n e f o r t h e g i v e n d a t a . Student Answer:  y = -0.4668x – 31.737   y = 31.737x – 0.4668   y = 0.4668x – 31.737 (Chapter 9)   

MATH | 221 | Statistics for Decision-Making | assessment | Page: 1   2   ( T C O 1 ) W h 

Entire Course Managerial Finance

DeVry_University_Manhattan_-_FIN_515_MIdterm.docx-MID- TERM FIN 515/Managerial Finance 1.

9. Compare the standard deviation for the heights of males and the standard deviation for the heights of females in the class. Compare the values and explain what can be concluded based on the numbers. The females standard deviation was 2.5 (rounded from 2.533) and the males standard deviation was 4.2 (rounded from 4.21). This shows me that the male height was ranged out more. 10. Using the empirical rule, 95% of female heights should be between what two values? Either show work or explain how your answer was calculated. The female mean was 67.3 and the standard deviation was 2.5. According to the empirical rule 95% of female heights would be between + or – two standard deviations. This states: 67.3 – 2(2.5) and 67.3 + 2(2.5). 95% of female heights would be between 62.3 inches and 72.3 inches. 11. Using the empirical rule, 68% of male heights should be between what two values? Either show work or explain how your answer was calculated. The male mean was 70 and the standard deviation was 4.2. According to the empirical rule 68% of female heights would be between + or – two standard deviations. This states: 70 – 2(4.2) and 70 + 2(4.2). 68% of male heights would be between 61.6 inches and 78.4 inches.

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