Qnt 561 Week 4 Individual Assignment Types Of Surveys Paper

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This work contains QNT 561 Week 4 Individual Assignment Types of Surveys Paper Individual Assignment: Types of Surveys Paper Resource: Business Research Methods Answer question 5 on p. 270 of Business Research Methods. Write a 150- to 200-word response for each part of the question. Provide a rationale to support your answers.

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Mathematics - Statistics 1. Consider the following raw data, which is the result of selecting a random sample of 20 condominium sales in a particular development. The sale prices are given in thousands of dollars ($1,000s). 131 142 120 135 126 153 135 131 126 133 147 137 130 126 140 138 144 132 132 138 1a. Compute the mean, median, mode, and standard deviation, Q1, Q3, Min, Max for the above sample data on sale prices. 1b. In the context of this situation, interpret the Median, Q1, and Q3. 2. Consider the following data on newly hired employees in relation to which part of the country they were born and their highest degree attained. HS BS MS PHD Total East 3 5 2 1 11 Midwest 7 9 2 0 18 South 5 8 6 2 21 West 1 7 8 6 22 Total 16 29 18 9 72 If you choose one person at random, then find the probability that the person Has a PHD Is from the East and has a BS as the highest degree attained. Has only a HS degree, given that person is from the West. 3. Historically, 70% of your customers at Rodale Emporium pay for their purchases using credit cars. In a sample of 20 customers, find the probability that Exactly 14 customers will pay for their purchases using credit cards. At least 10 customers will pay for their purchases using credit cards. At most 12 customers will pay for their purchases using credit cards. 4. Pharmacies continually monitor their prescription filling process. A local pharmacy has noted that the time to fill a prescription for a generic antibiotic is normally distributed, with a mean of 13.3 minutes and a standard deviation of 2.8 minutes. find the probability that a prescription for a generic antibiotic takes at least 10 minutes to fill. Find the probability that the prescription for a generic antibiotic takes between 12 and 15 minutes to fill. The slowest 20% of prescriptions fills result in a special discount to the customer. How long must a prescription fill for a generic antibiotic take in order to qualify for this discount? 5. A survey is taken of U.S. companies that do business with firms in India. One of the questions in the survey was: “Approximately how many years has your company been trading with firms in India?” A random sample of 44 responses to this question yields the following results: Sample Sample years Sample Standard years Compute 95% confidence interval for the population mean number of years of trading with firms in India. Interpret this interval. How many firms should be sampled if we wish to generate a 95% confidence interval for the mean number of years of trading with firms in India that is accurate to within 1 year? 6. A marketing research firm wishes to estimate the proportion of adults who are planning to buy a new car in the next 6 months. A simple random sample of 100 adults led to 22 who were planning to buy a new car in the next 6 months. Compute the 95% confidence interval for the proportion of adults who are planning to buy a new a car in the next 6 months. Interpret this confidence interval. How large a sample size will need to be selected if we wish to have a 95% confidence interval that is accurate to within 1%. 7. An article in a trade journal reports that nationwide 28% of liquor purchases are made by women. If BB Liquor’s proportion of sales to women is significantly different from the national norm, the owners are considering redesigning BB advertising. A rand sample of 100 customers is selected resulting in 24 women and 76 men. Does the sample data provide evidence to conclude that less than 28% of BB’s customers are women (using ) Formulate the null and alternative hypotheses. State the level of significance. Find the critical value (or values), and clearly show the rejection and non-rejection regions. Compute the test statistic. Decide whether you can reject Ho and accept Ha or not. Explain and interpret your conclusion in part e. What does this mean? Find the observed p-value for the hypothesis test and interpret this value. What does this mean? Does this sample data provide evidence (with ), that less than 28% of BB’s customers are women? 8. The R.R. Bowker Company of New York collects information on the retail prices of collectible children’s books and publishes its findings in Publisher’s Weekly. Last year, the mean retail of collectible children’s books was $35.44. A random sample of 40 collectible children’s books (published this year) is selected, the retail prices are noted, and the results are as follows: Sample Size: 40 Sample Mean: $38.75 Sample Standard Deviation: $7.35 Does the sample data provide evidence to conclude that the mean retail price of collectible children’s books has increased over last year (using )? Use the hypothesis testing procedure outlined below. Formulate the null and alternative hypotheses. State the level of significance. Find the critical value (or values), and clearly show the rejection and nonrejection regions. Compute the test statistic. Decide whether you can reject Ho and accept Ha or not. Explain and interpret your conclusion in part e, What does this mean? Determine the observed p-value for the hypothesis test and interpret this value. What does this mean? Does this sample data provide evidence (with ), that the mean retail price of collectable children’s books has increased over last year? 9. McCave Development Enterprises is considering whether to build a shopping mall in Stratesville. The manager wants you to analyze the relationship between mall size and the rate of return on invested capital. You select a random sample of 16 cities similar to Statesville in demographic and economic characteristics and collect the following data on FOOTAGE (in 10,000 square feet) and RETURN (rate of return as a %). RETURN FOOTAGE PREDICT 18.3 12.8 15.0 11.7 18.6 7.5 19.5 10.3 17.5 14.3 15.4 14.2 9.8 21.4 11.4 18.6 14.5 16.7 16.3 15.5 19.0 9.8 17.0 14.2 15.1 16.2 19.5 12.8 10.9 19.4 16.3 15.0 16.3 15.4 Regression Analysis: RETURN versus FOOTAGE The regression equation is – 0.943 FOOTAGE Predictor Coef SE Coef T P Constant 29.976 1.238 24.22 0.000 FOTTAGE -0.94257 0.07921 -11.90 0.000 % R-Sq (adj) = 90.4% Analysis of Variance Source DF SS MS F P Regression 1 133.15 133.15 141.59 0.000 Residual Error 14 13.17 0.94 Total 15 146.31 Predicted Values for New Observations New Obs FIT SE FIT 95% CI 95% PI 1 15.838 0.244 (15.315, 16.360) (13.693, 17.982) 2 22.907 0.666 (21.479, 24.334) (20.384, 25.429)x x denotes a point that is an outlier in the predictors. Values of Predictor for New Observations New Obs FOOTAGE 1 15.0 2 7.5 Correlations: RETURN, FOOTAGE Pearson correlation of RETURN and Analyze the above output to determine the regression equation. Find and interpret β1 in the context of this problem. Find and interpret the coefficient of determination (r-squared). Find and interpret coefficient of correlation. Does the data provide significant evidence () that FOOTAGE can be used to predict RETURN? Test the utility of this model using a two-tailed test. Find the observed p-value and interpret. Find the 95% confidence interval for the mean rate of return on capital investment for malls that have square footage of 150,00. Interpret this interval. Find 95% prediction interval for the rate of return on capital investment for a mall that has square footage of 150,000. Interpret this interval. What can we say about the rate of return on capital investment for a mall that has square footage of 75,000?

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Avoid taking out too many loans while you are in college. Take good notes on what you need each semester and only take that much out. You will have to pay it back at some point, and most loans accrue interest. You do not want to owe a ton of money by the time you are done.