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QNT 561 Final Exam Guide (New) • 1. The mean gas mileage for a hybrid car is 56 miles per gallon. Suppose that the gasoline mileage is approximately normally distributed with a standard deviation of 3.2 miles per gallon. • 2. What conditions must n satisfy to make the x2 test valid? • 3. To use the t-statistic to test for a difference between the means of two populations, what assumptions must be made about the two populations? About the two samples?
QNT 561 Final Guide (Latest) • 1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected? • 2. Which of the following is a characteristic of the F distribution? • 3. For a chi-square test involving a contingency table, suppose the null hypothesis is rejected. We conclude that the two variables are __________.
QNT 561 Week 1 DQ 1 • How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.
QNT 561 Week 1 DQ 2 • When would you use Chebyshev’s theorem and the empirical rule in business? How are they calculated? Provide one real-life example that requires Chebyshev’s theorem and one that requires the empirical rule.
QNT 561 Week 1 Individual My Statslab Problem Set • 1. What is statistics? • 2. Explain the difference between descriptive and inferential statistics. • 3. Explain the difference between qualitative and quantitative data. • 4. Explain how populations and variables differ. • 5. Explain how populations and samples differ. • 6. What is a representative sample? • 7. Explain the difference between a population and a process. • 8. Define statistical thinking.
QNT 561 Week 1 Lab Work (New) • Chapter 2: • Ex 4) Two Thousand three hundred frequent business travelers are asked which Midwestern city they prefer: Indianapolis, Saint Louis, Chicago or Milwaukee. 388 liked Indianapolis best, 450 liked Saint Louis, 1212 liked Chicago and the remainder prefers Milwaukee. Develop a frequency table and a relative frequency table to summarize this information (Round relative frequency to 3 decimal places.) • Ex 6) A small business consultant is investigating the performance of several companies. The fourth-quarter sales for last year (in thousands of dollars) for the selected companies were:
QNT 561 Week 2 DQ 1 • What are some examples of operational definitions in research design within your profession? For example, in the education field, graduation rate and retention rate are important operational definitions to measure progress of students. Likewise other professions have common metrics and definitions. Identify some metrics and operational definitions from your own career or a profession that you know well. Tell us why you think it is important!
QNT 561 Week 2 DQ 2 • What is the purpose of sampling? What are some concerns and dangers of sampling? How important is the sample design to data validity? Explain. Provide an example where a sample might misrepresent data validity. For example, reflect on the current political campaign and the pollsters!
QNT 561 Week 2 Individual My Statslab Problem Set • 1. A random sample of 87 observations produced a mean = 25.7 and a standard deviation s = 2.6. • 2. Health care workers who use latex gloves with glove powder on a daily basis are particularly susceptible to developing a latex allergy. Each in a sample of 50 hospital employees who were diagnosed with a latex allergy based on a skin-prick test reported on their exposure to latex gloves. Summary statistics for thr number of latex gloves used per week are = 19.4 and s = 11.6. Complete parts (a) – (d).
QNT 561 Week 2 Lab Work (New) • Chapter 5: • Ex 4) A large company must hire a new president. The Board of Directors prepares a list of five candidates, all of whom are equally qualified. Two of these candidates are members of a minority group. To avoid bias in the selection of the candidate, the company decides to select the president by lottery. • a. What is the probability one of the minority candidate is hired? • b. Which concept of probability did you use to make this estimate?
QNT 561 Week 2 Team Assignment Business Research Project Part 1 Business Problems • Identify an organization or business for your Learning Team research project. • Describe the products or services it provides. • Identify a problem or dilemma faced by the organization that could be addressed by research. • Discuss the problem as a team. • Discuss your selected problem or dilemma with your faculty member to ensure that it is at an appropriate scope for the course.
QNT 561 Week 2 Team Assignment Business Research Project Part 1 Formulation • Identify an organization from any member in your Learning Team or an organization with which your team is familiar. If an actual company is used, disguise its name with a pseudonym. • Identify one independent variable and one dependent variable based on the business. Operationalize these variables if they are too abstract to measure.
QNT 561 Week 3 DQ 1 • In your organization’s management development program, there was a heated discussion between people who claimed that theory is impractical and not effective, and others who claimed that effective theory is the most practical approach to problems. What position would you take and why?
QNT 561 Week 3 DQ 2 • You observe female sales representatives having lower customer defections than male sales representatives. What concepts and constructs would you use to study this phenomenon? How might the concepts or constructs relate to explanatory hypotheses? Explain.
QNT 561 Week 3 Individual Mystatslab Problem Set • 1. Which hypothesis, the null or the alternative, is the status-quo hypothesis? • 2. A university economist conducted a study of elementary school lunch menus. During the state-mandated testing period, school lunches averaged 890 calories. The economist claimed that after the testing period ended, the average caloric content of the school lunches increased/dropped significantly. Set up the null and alternative hypothesis to test the economist’s claim.
QNT 561 Week 3 Lab Work (New) • Chapter 8: • Ex 2) The following is a list of 29 hospitals in the Cincinnati (Ohio) and Northern Kentucky region. The hospitals are identified by numbering them 00 through 28. Also included is whether the hospital is a general medical/surgical hospital (M/S) or a specialty hospital (S). we are interested in estimating the average number of full- and part-time nurses employed in the area hospitals.
QNT 561 Week 3 Team Assignment Business Research Project Part 2 Research Plan (2 Papers) • This Tutorial contains 2 different Papers • Develop a plan for your Business Research Project in approx. 800 words. • Revise the research questions based on instructor feedback from the previous week. • Identify population and samples for your research. • Describe who will be chosen and how they will be accessed. • Determine the data collection process.
QNT 561 Week 4 Discussion Descriptive Statistics • Create a Microsoft® Excel® spreadsheet with the two variables from a dataset for your choosing. • Analyze the data with MegaStat®, StatCrunch®, Microsoft® Excel®or other statistical tool(s), including: • (a) Descriptive stats for each numeric variable • and • (b) Histogram for each numeric variable • and either (c) or (d) • (c) Bar chart for each attribute (non numeric) variable
QNT 561 Week 4 DQ 1 • does technological advancement affect the ability to collect data? Provide examples. Does this advancement increase the chance for errors? Explain.
QNT 561 Week 4 DQ 2 • What is the importance of pretesting questions and instruments? What are risks of not doing this? Provide an example.
QNT 561 Week 4 Individual Mystatslab Problem Set • . Researchers conducted a survey of a representative sample of over 1,000 drivers. Based on how often each driver engaged in road behaviour, a road rage score was given. The drivers were also grouped by annual income. The data were subjected to an analysis of variance, with the results summarized in the table. • 2. Researchers surveyed a random sample of 25 employees who were enrolled in a certain program at one of three universities. These individuals were divided into four distinct groups, 1, 2, 3, and 4, depending on their job situation at a previous or current firm. The sampled employees completed
QNT 561 Week 4 Lab Work (New) • Chapter 10: • Ex 2) A Sample of 36 observations is selected from a normal population. The sample mean is 12, and the population standard deviation is 3. Conduct the following test of hypothesis using the 0.01 significance level. • EX 12) The management of White Industries considering a new method of assembling its golf cart. The present method requires 42.3 minutes, on the average, to assemble a cart. The mean assembly time for a random sample of 24 carts, using the new method,
QNT 561 Week 4 Team Assignment Business Research Project Part 3 Survey • This Tutorial contains 2 different sets • Create a draft of the survey. • Conduct a pilot pretest having another Learning Team in the class to provide feedback for your team. Chet will create a message thread for each team to place their survey in the Class Discussion Tab. • Revise the survey based on the feedback provided by your classmates.
QNT 561 Week 5 DQ 1 • What is the value of performing hypotheses tests to solve problems related to business and operations management? Provide specific examples.
QNT 561 Week 5 DQ 2 • What are differences between dependent and independent samples? Provide examples. What are implications for determining the tests used to analyze data?
QNT 561 Week 5 Individual Mystatslab Problem Set • 1. Consider the pairs of measurements shown to the right. • 2. Researchers investigated the effect of tablet surface area to volume on the rate at which a drug is released in a controlled-release dosage. For six similarly shaped tablets with different weights and thicknesses, the diffusional drug release rate (percentage of drug released divided by the square root of time) was determined. The experimental data are listed in the table. Complete parts a through d. • 3. Many entrepreneurs have donated money to various causes. Data on the total amount pledged and remaining net worth for the 10 top donors are given in the table. Complete parts a through d.
QNT 561 Week 5 Lab Work (New) • Chapter 13: • Ex 6) The owner of Maumee Ford-Mercury-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year. • a. If we wants to estimate selling price on the basis of the age of car, which variable is thr dependent varialble and which is the independent variable? • b. 1. Determine the correlation coefficient • 2. Determine the coefficient of determination.
QNT 561 Week 5 Team Assignment Business Research Project Part 4 Data Analysis (2 Sets) • This Tutorial contains 2 different sets • Administer the survey. • In a paper in the APA format describe the following: • Determine the sample process including sample contact, survey distribution, and survey collection. • Organize, prepare, and describe the data.
QNT 561 Week 6 Lab Work (New) • Chapter 18: • EX.2) Listed Below is the number of movie tickets sold at the Library Cinema-Complex, in thousands, for the period from 2001 to 2013. Compute a five-year weighted moving average using weights of 0.15, 0.15, 0.25, 0.16, and 0.29, respectively. Describe the trend in yield. • EX 10) Appliance Center sells a variety of electronic equipment and home appliance. For the last 4 years, 2010 through 2013, the following quarterly sales (in $ millions) were reported.
QNT 561 Week 6 Team Assignment Business Research Project Part 5 Research • This Tutorial contains 2 Sets of Report and Presentation • Complete the cumulative Business Research Report in approx. 1,500 words by collaborating with your team to include the following: • Revised tables or figures based on prior instructor feedback • The description or interpretation for the tables or figures • Summary of Learning Team results • Answers to the research questions
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