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QNT 275 Entire Course
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QNT 275 Week 1 Individual Assignment Statistics in Business
QNT 275 Week 1 DQ 1
QNT 275 Week 1 DQ 2
QNT 275 Week 1 DQ 3
QNT 275 Week 2 Activity Data Set
QNT 275 Week 2 Individual Assignment Business Decision Making
Project, Part 1
QNT 275 Week 2 DQ 1
QNT 275 Week 2 DQ 2
QNT 275 Week 2 DQ 3
QNT 275 Week 3 Individual Business Decision Making Project, Part 2
QNT 275 Week 3 DQ 1
QNT 275 Week 3 DQ 2
QNT 275 Week 3 DQ 3
QNT 275 Week 4 Individual Business Decision Making Project, Part 3
QNT 275 Week 4 DQ 1
QNT 275 Week 4 DQ 2
QNT 275 Week 4 DQ 3
QNT 275 Week 5 Team Assignment Business Decision Making Project
QNT 275 Week 5 DQ 1
QNT 275 Week 5 DQ 2
QNT 275 Week 5 DQ 3
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QNT 275 Final Exam Guide
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QNT 275 Final Exam Guide
1. The salaries of teachers in a particular school district are
normally distributed with a mean of $50,000 and a standard deviation
of $2,500. Due to budget limitations, it has been decided that the
teachers who are in the top 2.5% of the salaries would not get a raise.
What is the salary level that divides the teachers into one group that
gets a raise and one that doesn’t?
2. In the accompanying stem-and-leaf diagram, the values in the
stem and leaf portions represent 10s and 1s digits, respectively.
The stem-and-leaf diagram shows that the distribution is
___________.
3.
Which of the following is a quantitative variable?
4.
Which of the following meets the requirements of a stratified
random sample?
5.
Which of the following can be represented by a continuous
random variable?
6.
In the sample regression equation what is ?
7.
Mutually exclusive events ______________.
8.
Which of the following can be represented by a discrete
random variable?
9.
A manager of a fast food restaurant wants to ensure that staff
are scheduled with the sufficient hours required to meet customer
demands without overspending on labor costs. The manager has daily
guest counts, sales data, and staff hours for the prior year. What
should the manager do next in order to reach conclusions about
scheduling restaurant staff?
10.
A-Plus Dry Cleaners wants to understand its customers’
perceptions of the quality of the company’s customer service. They
plan to survey a sample of its customer base. What will A-Plus need to
do to ensure that their data is valid and reliable?
11.
The two branches of the study of statistics are generally
referred to as ___________.
12.
Serial correlation is typically observed in:
13.
The manager of a retail shoe store has applied statistics to
analyze sales, purchasing, and data and reached the conclusion that
the store could reduce costs by reducing inventory of very small and
very large sizes, and substituting an online ordering service to dropship rare sizes directly from suppliers. How should the manager
communicate those results to the store owner?
14.
Professors at a local university earn an average salary of
$80,000 with a standard deviation of $6,000. The salary distribution is
approximately bell-shaped. What can be said about the percentage of
salaries that are at least $74,000?
15.
Which of the following violates the assumptions of regression
analysis?
16.
The study of statistics can be defined as:
17.
What is the name of the variable that’s used to predict another
variable?
18.
14.
Consider a population with data values of 12, 8, 28, 22, 12, 30,
The median is:
19.
Which scales of data measurement are associated with
quantitative data?
20.
What is (are) the most widely used measure(s) of dispersion?
21.
Frequency distributions may be used to describe which of the
following types of data?
22.
A company wants to estimate the mean price of oil over the past
10 years. What kind of data does the company need?
23.
What type of relationship is indicated in the scatterplot?
24.
Which of the following is most influenced by outliers?
25.
Bias can occur in sampling. Bias refers to
_____________________.
26.
The owner of a company has recently decided to raise the
salary of one employee, who was already making the highest salary, by
20%. Which of the following is (are) expected to be affected by this
raise?
27.
The estimation of which of the following requires sampling?
28.
Horizontal bar charts are constructed by placing:
30.
A hedge fund returns on average 26% per year with a standard
deviation of 12%. Using the empirical rule, approximate the
probability the fund returns over 50% next year.
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QNT 275 Week 1 DQ 1
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What is the importance of statistics in business decision making?
Describe a business situation where statistics was used in making a
decision.
===================================================
QNT 275 Week 1 DQ 2
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Select four variables, other than what your fellow students have
already selected, that could be measured by nominal, ordinal, interval,
and ratio scale. Classify them by measurement scale and select
descriptive statistics that can be used to summarize data. Use the
following table when posting your response:
Variable
Level of Measurement
Descriptive Stat and Justify Selection
Nominal
Ordinal
Interval
Ratio
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QNT 275 Week 1 DQ 3
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How do we define measurement? What are various levels of
measurement? How do you select measurement levels when
developing a survey or data collection tool? Explain with examples.
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QNT 275 Week 1 Individual Assignment Statistics in
Business (2 Papers)
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This Tutorial contains 2 Papers
Develop a 875-word response that addresses each of the following
prompts:
§ Define statistics with citation and reference.
§ Contrast quantitative data and qualitative data. Use two Peer
Reviewed references.
§ Evaluate tables and charts used to represent quantitative and
qualitative data.
§ Describe the levels of data measurement.
§ Describe the role of statistics in business decision-making.
§ Provide at least two business research questions, or problem
situations, in which statistics was used or could be used.
Use two peer reviewed references.
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
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QNT 275 Week 2 Assignment Mini-Project 3-2
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You are employed as a statistician for a company that makes
household products, which are sold by part-time salespersons who
work during their spare time. The company has four salespersons
employed in a small town. Let us denote these salespersons by A, B, C,
and D.
The sales records (in dollars) for the past 6 weeks for these four
salespersons are shown in the table below.
Week A
B
C
D
1
1774 2205 1330 1402
2
1808 1507 1295 1665
3
1890 2352 1502 1530
4
1932 1939 1104 1826
5
1855 2052 1189 1703
6
1726 1630 1441 1498
Your supervisor has asked you to prepare a brief report comparing the
sales volumes and the consistency of sales of these four salespersons.
Use the mean sales for each salesperson to compare the sales volumes.
Choose an appropriate statistical measure to compare the consistency
of sales.
Make the calculations and write a 700-word report comparing the
sales volumes and the consistency of sales of these four salespersons.
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
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QNT 275 Week 2 DQ 1
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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.
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QNT 275 Week 2 DQ 2
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What are the various methods one can use to identify the shape of data
distribution collected for research study? Why it is important to know
the shape of distribution? How it can be used in decision making?
Provide examples other than those already posted in class.
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QNT 275 Week 2 DQ 3
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Select an article from a news magazine or research journal where data
is displayed in a pie or bar chart. Describe the data displayed in the
chart and what conclusion you could draw.
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QNT 275 Week 2 Individual Assignment Activity Data Set
(Little Town Cafe)
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Review the following business scenario:
You are the manager in a small town in the lake district of a
Midwestern state enjoys a robust tourist season during the summer
months, but has only a small population of residents during the off
season. The Littletown Café adjusts the levels of staff according to the
time of year, to coincide with the number of guests, with the tourist
season typically starting around Memorial Day each year. One wait
staff employee can serve 50 guests. When a bus staff employee is
added, the pair can serve 75 guests. At 76 guests, the café adds a
second wait staff employee, for a total of 2 waiters and one busser.
Analysis of guest numbers can support future decisions about
scheduling wait staff, dishwashers, and bus staff for the café.
Download the data set.
Review the data in the data set.
Write a 700- to 1,050-word paper in which you:
Explain why this is (or is not) a suitable sample of quantitative data
for the business scenario.
Evaluate the factors that would affect the validity of the data set.
Evaluate the factors that would affect the reliability of the data set.
Explain the steps you took to arrive at your conclusion about validity
and reliability.
Display the data set in a chart.
Explain briefly why that chart type was selected.
Calculate the measures of central tendency and variability (mean,
median, mode, standard deviation) for the data.
Explain the steps you followed to come your answer.
Interpret the measures of central tendency and variability.What are
three conclusions you can draw based on the data analysis?
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QNT 275 Week 2 Quiz
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QNT 275 Week 2 Quiz
1.
In order to summarize qualitative data, a useful tool is a
__________.
2.
A stem-and-leaf diagram is constructed by separating each
value of a data set into two parts. What are these parts?
3.
A recent survey of 200 small firms (annual revenue less than
$10 million) asked whether an increase in the minimum wage would
cause the firm to decrease capital spending. Possible responses to the
survey question were: "Yes," "No," or "Don't Know." These data are
best classified as ____________.
4.
The accompanying chart shows the numbers of books written
by each author in a collection of cookbooks. What type of chart is this?
5.
A population consists of _________________.
6.
Which of the following variables is quantitative?
7.
Which of the following represents a population and a sample
from that population?
8.
ABC Plumbing wants to understand its customers’ perceptions
of the quality of the company’s plumbing service calls. They plan to
survey a sample of its customer base. What will ABC need to do to
ensure that their data is valid and reliable?
9.
Which of the following variables is qualitative?
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QNT 275 Week 3 CLO Business Decision Making Project
Part 1
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CLO Business Decision-Making Project Part 1
Identify a business problem or opportunity at a company where you
work or with which you're familiar. This will be a business problem
that you use for the individual assignments in Weeks 3-5. It should be
a problem/opportunity for which gathering and analyzing some type of
data would help you understand the problem/opportunity better.
Identify a research variable within the problem/opportunity that could
be measured with some type of data collection.
Consider methods for collecting a suitable sample of either qualitative
or quantitative data for the variable.
Consider how you will know if the data collection method would be
valid and reliable.
Develop a 1,050-word analysis to describe a company, problem, and
variable.
Include the following in your submission:
·
Identify the name and description of the selected company,
·
Describe the problem at that company,
·
Identify one research variable from that problem,
·
Describe the methods you would use for collecting a suitable
sample of either qualitative or quantitative data for the variable (Note:
do not actually collect any data)
·
Analyze how you will know if the data collection method would
generate valid and reliable data (Note: do not actually collect any data)
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
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QNT 275 Week 3 DQ 1
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An oil change shop advertised to change oil within 15 minutes. Based
on the data collected on a typical day, what is the probability that oil
change will take 15 minutes or less time? Based on the data, do you
think the business claim is valid? Explain why or why not.
Class Interval
Frequency
6 to 10 minutes
3
11 to 15 minutes
8
16 to 20 minutes
6
21 to 25 minutes
2
More than 25 Minutes
1
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QNT 275 Week 3 DQ 2
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What are some conditions under which business decisions are made
using subjective probability concepts? Provide at least two examples of
subjective probability.
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QNT 275 Week 3 DQ 3
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What are the characteristics of standard normal distribution? The HR
department of an organization collects data on employees' age, salary,
level of education, gender, and ethnicity. Which data do you think is
more likely to follow normal distribution? Explain why.
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QNT 275 Week 3 Probability Case Study 5.2
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Week 3 Learning Team Collaboration Discussion: Probability
Resource: Case Study 5.2 in Chapter 5 of Essentials of Business
Statistics
Calculate the requested probabilities for items 1-3.
Discuss your findings for the probabilities.
What was the smoking trend from 1997-2007?
Is this a discrete, continuous, or conditional probability? Why?
How do probabilities help you understand trends in data?
What steps might you recommend, related to smoking behavior, based
on this trend?
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QNT 275 Week 3 Quiz
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QNT 275 Week 3 Quiz
Question 1:
•
You work in marketing for a company that
produces work boots. Quality control has sent you a memo detailing
the length of time before the boots wear out under heavy use. They
find that the boots wear out in an average of 208 days, but the exact
amount of time varies, following a normal distribution with a standard
deviation of 14 days. For an upcoming ad campaign, you need to know
the percent of the pairs that last longer than six months-that is, 180
days. Use the empirical rule to approximate this percent.
Question 2:
For any normally distributed random variable with
mean μ and standard deviation σ, the percent of the observations that
fall between μ-2σ and μ+2σ is closest to _______.
Question 3:
•
Which of the following is correct?
Question 4:
•
What does it mean when we say that the tails of
the normal curve are asymptotic to the x axis?
Question 5:
•
The probability that a normal random variable
is less than its mean is ____.
Question 6:
•
Mutually exclusive and collectively exhaustive
events _______________.
Question 7:
•
Which of the following can be represented by a
discrete random variable?
Question 8:
•
What is probability?
Question 9:
•
Which of the following can be represented by a
continuous random variable?
Question 10: •
A continuous random variable has the uniform
distribution on the interval [a, b] if its probability density function f(x)
___________.
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QNT 275 Week 4 CLO Business Decision Making Project
Part 2
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CLO Business Decision Making Project, Part 2
Use the same business problem/opportunity and research variable you
wrote about in Week 3.
Remember: do not actually collect any data; think hypothetically.
Develop a 1,050-word report in which you:
·
Identify the types of descriptive statistics that might be best for
summarizing the data, if you were to collect a sample.
·
Analyze the types of inferential statistics that might be best for
analyzing the data, if you were to collect a sample.
·
Analyze the role probability or trend analysis might play in
helping address the business problem.
·
Analyze the role that linear regression for trend analysis might
play in helping address the business problem.
·
Analyze the role that a time series might play in helping address
the business problem.
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
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QNT 275 Week 4 DQ 1
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What is the difference between an independent and a dependent
variable? Does a regression model imply causation? Explain why or
why not
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QNT 275 Week 4 DQ 2
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Does correlation equal causation? Does the strength of correlation
depend on the direction? What is the meaning of a zero correlation?
Explain your answers.
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QNT 275 Week 4 DQ 3
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What are the requirements that must be met for a regression analysis?
What happens if these requirements are violated? Why is analysis of
residuals important?
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QNT 275 Week 4 Linear Regression Case 12.1
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Resource: Case Study 12.1 in Chapter 12 of Essentials of Business
Statistics.
Click the Sushi Restaurant Data Set link.
Calculate the linear regression in item 1 of the case study.
Discuss the following with your team:
·
Explain if simple regression or multiple regression is more
appropriate for making predictions in this case.
·
Predict what will happen to sales based on unemployment rate
and the level of advertising
·
Justify your predictions.
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QNT 275 Week 4 Quiz
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QNT 275 Week 4 Quiz
Question 1:
•
Serial correlation is typically observed in:
Question 2:
the ___.
•
Another name for an explanatory variable is
Question 3:
qualitative?
•
Which of the following variables is not
Question 4:
•
Consider the following simple linear regression
model: y=βo+β1^(x+ε) The response variable is:
Question 5:
•
Which of the following violates the assumptions
of regression analysis?
Question 6:
•
In a simple linear regression model, if the plots
on a scatter diagram lie on a straight line, what is the standard error
of the estimate?
Question 7:
•
Consider the following simple linear regression
model: y=βo+β1^(x+ε)β0 and β1 are:
Question 8:
general:
•
For a given set of explanatory variables, in
Question 9:
•
The standard error of the estimate measures:
Question 10: •
What is the name of the variable that's used to
predict another variable?
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QNT 275 Week 5 CLO Business Decision Making Project
Part 3
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CLO Business Decision Making Project, Part 3
Prepare an 11- to 15-slide Microsoft® PowerPoint® presentation for
the senior management team based on the business problem or
opportunity you described in Weeks 3-4.
Include on the slides what you'd want the audience to see (include
appropriate visual aids/layout) and include in the Speaker's Notes
section what you'd say as you present each slide. If any source
material is quoted or paraphrased in the presentation, use APA
citations and references.
Draw on material you developed in the Weeks 3-4 assignments.
Include the following in your presentation:
·
Introduction slide
·
Agenda slide
·
Describe the organization, with a brief description
·
Explain the business problem or opportunity
·
Analyze why the business problem is important
·
Identify what variable would be best to measure for this
problem. Explain why.
·
Apply data analysis techniques to this problem (tell which
techniques should be used: descriptive stats, inferential stats,
probability, linear regression, time series). Explain why.
·
Apply a possible solution to the problem/opportunity, with
rationale.
·
Evaluate how data could be used to measure the implementation
of such a solution.
·
Conclusion
·
References slide (if any source material is quoted or
paraphrased throughout the presentation)
===================================================
QNT 275 Week 5 DQ 1
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How would you select appropriate statistical tests for analysis research
data? What aspects of research questions or data types are relevant co
nsiderations in choosing your tests? Why?
===================================================
QNT 275 Week 5 DQ 2
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How do you know you have validated a research study based on data g
athered from primary or secondary sources? Have you been involved
with any product testmarketing project? Explain. How did the resulting statistics affect the
product's marketing strategy? How can organizations skew the statistic
al outcomes of their business research?
===================================================
QNT 275 Week 5 DQ 3
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In what way has the learning from this course helped you to effectively
test hypotheses, draw conclusions, and provide recommendations to m
anagement? Consider what you have achieved in your research study c
onducted for this course.