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QNT 351 MARE Career Path Begins/qnt351mare.com

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QNT 351 MARE Career Path Begins/qnt351mare.com

QNT 351 MARE Career Path Begins/qnt351mare.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?

QNT 351 MARE Career Path Begins/qnt351mare.com

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?

QNT 351 MARE Career Path Begins/qnt351mare.com

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?

QNT 351 MARE Career Path Begins/qnt351mare.com

QNT 351 Week 1 DQ 1

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Week 1 DQ1

Where would you see descriptive statistics used in your work place?

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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?

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

QNT 351 Week 2 DQ 3

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Week 2 DQ3

What level of data is a telephone number? Explain.

QNT 351 MARE Career Path Begins/qnt351mare.com

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?

QNT 351 MARE Career Path Begins/qnt351mare.com

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?

QNT 351 MARE Career Path Begins/qnt351mare.com

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

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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.)

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

QNT 351 Week 3 DQ 3

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Week 3 DQ3What are the basic differences between a discrete and a continuous distribution?

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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 EconomicsAnswer 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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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?

QNT 351 MARE Career Path Begins/qnt351mare.com

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?

QNT 351 MARE Career Path Begins/qnt351mare.com

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?

QNT 351 MARE Career Path Begins/qnt351mare.com

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?

QNT 351 MARE Career Path Begins/qnt351mare.com

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

QNT 351 MARE Career Path Begins/qnt351mare.com

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 EconomicsAnswer 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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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

QNT 351 MARE Career Path Begins/qnt351mare.com

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 EconomicsAnswer 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.

QNT 351 MARE Career Path Begins/qnt351mare.com

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:

QNT 351 MARE Career Path Begins/qnt351mare.com