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MANAGERIAL STATISTICS

ASSIGNMENT

The objective of this assignment is to test your understanding in the lessons learnt in Topics 1 until 10. It is also designed to test and enhance your critical thinking skills. Please follow the respective due date given below. Monday; 29th April 2013 before 5 p.m. to your respective tutor (Week 8) The assignment carries 20% of your coursework marks. Instructions: 1) This is a grouped assignment with a maximum of 4 members from the same lecture section. 2) The printed-out assignment must be submitted latest by the stated deadline. 3) Be sure to include the Assignment Cover Sheet which has been signed by you and your members. A penalty of 10% will apply for each day thereafter unless an extension of time has been granted by your lecturer before the due date. 4) The assignment must be typed written in the Microsoft Work in a report format. Handwritten or soft copy assignment is not acceptable. There is no restriction on the number of pages, font type, font size etc. You may include relevant Excel tables, graphs and charts if necessary. The quality of report presentation should be worthy of submission to your employer or project manager. Some marks will be deducted for submitting a sloppy report. 5) Be reminded that plagiarism is a serious offense. Any assignment that has been plagiarized from the Internet or from the other classmates will receive ZERO marks! 6) Refer to the Excel file to solve the cases.

HH

1

BMS1024

MANAGERIAL STATISTICS

Case 1: Century National Bank (CNB)

Assume that you work in the Planning Department of the Century National Bank and report to Ms. Angelina Jilet. You will need to do some data analysis and prepare a short written report. Remember, Mr. Brad Pott is the president of the bank, so you will want to ensure that your report is complete and accurate. The Century National Bank...

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...12 Course Project AJ DAVIS DEPARTMENT STORES PROJECT PART A In this course project, my aim is to present the statistical analysis of the data for Aj Davis departmental store chain, which has many credit customers and wants to find out more information about these customers. In analyzing the individual variable, using graphical illustrations I would be using histogram, bar chart and a pie chart because there are useful when using numerical comparison. The 3 individual variables 1) The 1st individual variable, I choose is the credit balance of the customers. Credit Balance Numerical Summary: | Credit Balance($) | Mean | 3970 | Median | 4090 | Mode | 3890 | Standard Deviation | 932 | Skewness | -0.15 | Range | 3814 | Minimum | 1864 | Sum | 198523 | Maximum | 5678 | Interpretation The mean credit balance of the customers is given as $3970. The standard deviation is given approximately as 932. The credit balance of the customers is more or less normally distributed with the peak of the bell shaped distribution lying in the range 3814. 2) The 2nd individual variable, I choose is the household size. Thus the number of people living in the households. SIZE Frequency Distribution | Size | Frequency | 1 | 5 | 2 | 15 | 3 | 8 | 4 | 9 | 5 | 5 | 6 | 5 | 7 | 3 | Interpretation The mean of the household size is known as 3 approximately as seen on Minitab. The median of the household size 3 and the mode would be 2.......

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...Checkpoint 5 Complete Exercise 9.13 (The Video Game Satisfaction Case) on page 357 in your textbook A. H0 ≤ 42 versus Ha >42 b: z = (42.954 - 42)/(2.64/√64) = 2.891 Z values at 0.10 = 1.28 - Reject 0.05 = 1.64 - Reject 0.01 = 2.33 - Reject 0.001 = 3.09 - Accept Since we are dealing with the right side of the curve the z values are positive. c: Z = 2.891 therefore right side = 0.0019 Left side = 0.9981 Since p is = 0.0019 it less than 0.10, 0.05. 0.01 but greater than 0.001 D. Very strong evidence Complete Exercise 9.19 on page 358 in your textbook. ( A. H0 = 16 versus Ha ≠ 16 b. α = 0.01 S = 0. 1 b.1 Xbar = 16.05 b.2 Xbar = 15.96 b.3 Xbar = 16.02 b.4 Xbar = 15.94 two tailed critical value rule requires we split α in 2, Therefore (Z 0.01/2)= 2.576 Z = (xbar – 16)/( 0.1/6) B.1 Critical Value Z = (16.05 – 16)/( 0.1/6) Z = 3.0 – therefore readjust P value = 2 time the area to the right of z 2(1- Z) = 2(1- 0.99865) = 0.027 0.027 < 0.01 – therefore reject and readjust CI Xbar ± (2.576)( 0.01/6) 16.05 ± 0.0429 = [16.007, 16.093] readjust B.2 Critical Value Z = (15.96 – 16)/( 0.1/6) Z = -2.40 – therefore do not reject do not readjust P value = 2 time the area to the right of z 2(1- Z) = 2(1- 0.9918) = 0.0164 0.0164 > 0.01 – therefore do not reject and do not readjust CI Xbar ± (2.576)( 0.1/6) 15.96 ± 0.0429 = [15.917,16.003] – reject and readjust B.3......

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...Keller Graduate School of Management Applied Managerial Statistics (GM533) Course Project Case Study: Grocery Bags data gathered and written by ME Applied Managerial Statistics GM533 Instructor: XX I. Executive Summary For this research I decided to develop my own case study and collect all the data myself. The data file named “Grocery Bag Study” (separate attachment), contains observations on 33 sample groups with a variation of 8 different characteristics (see table below). These characteristics include ethnicity, number of adults and minors in household, the number of bags collected weekly, the number of bags they recycle or reuse, the use of reusable fabric shopping bags, how many they throw away and the sex of the adults in the household. The totals for the bags are shown in the table below (Table A.1). For the sake of this study, I am going to combine the paper and plastic together because I want my dependent variable to be the number of bags recycled each week. I want to determine if the independent variables affect the recycle rate and which ones affect it the most, which can be eliminated and what my conclusions will be. II. Calculations This file was used to prepare a report on the influence of various options on grocery bags collected each week and to relay how this information could be used to determine the recycle rates (y). Statistical analysis by Hypothesis Testing and Multiple Regression Analysis was performed on the collection of grocery...

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...Question 1 First year students marks of Managerial Statistics Marks – Managerial examinations 2010 Percentage Achieved | No of students | 0 >20 | 5 | 20 > 40 | 18 | 40 > 60 | 30 | 60 >80 | 20 | 80 > 100 | 4 | Total | 77 | 1 (a) Chart 1: Histogram of the Managerial Statistics marks obtained (b) Percentage Achieved | No of students | Less Cumulative | More cumulative | 0 >20 | 5 | 5 | 77 | 20 > 40 | 18 | 235 | 72 | 40 > 60 | 30 | 53 | 54 | 60 >80 | 20 | 73 | 24 | 80 > 100 | 4 | 77 | 4 | Total | 77 | | | (c) Percentage Achieved | No of students (f) | Mid (x) | fx | Cum <(f) | 0 >20 | 5 | 10 | 50 | 5 | 20 > 40 | 18 | 30 | 540 | 23 | 40 > 60 | 30 | 50 | 1500 | 53 | 60 >80 | 20 | 70 | 1400 | 73 | 80 > 100 | 4 | 90 | 360 | 77 | Total | 77 | | 3850 | | Arithmetic mean = ΣfX/Σf In this case the Arithmetic mean = 3850/77 = 50% average achievement ( mean). (d) Value of the median using grouped data Median = n/2 = Σf/2 = 77/2 = 38.5 The position of the median is : L + I [n/2 – c] F L=40 I = UL –LL = 60-40= 20 n = 77/2 =38.5 c = 23 F= 30 = 40+ 20 [38.5- 23]/30 = 40 +20 [15.5]/30 = 50,3% is the median score for Managerial Statistics. (e) M0 = L+I [ d ] d1+ d2 L = 40......

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...SCIENCE – is an orderly arrangement of knowledge and fact based on careful observation and experimentation. MATHEMATICS - a branch of science dealing with finding plausible solution to certain irregular condition known as problem with the use of some quantitative techniques. STATISTICS – branch of science dealing with the collection, presentation, analysis, and interpretation of data with the use of some mathematical tools to arrive at a valid and reliable conclusion and/or generalization. System: methods Procedures Processes Steps STATISTICS SAMPLE AND SAMPLE SIZE DISTRIBUTION Samples are preferred and/or recommended to be used in a research understanding for 3 essential reasons: Money, effort and time (MET) Slovin’s Formula - a practical statistical method used to determine the so called “ideal” sample size (n) ____N____ N = 1 + N(e)2 Two Most Commonly Used e’s 1. 0.01 = medical health related fields 2. 0.05 = allied fields This applies that the researcher is 95% confident or sure that whatever data generated from the sample(s) are true and are applicable to the population from where the sample(s) was drawn A sample can be a population; a population can be a sample, depending on the point of reference! Exercise: N = 1000 e = .05 ____N____ N = 1 + N(e)2 = 1000 ...

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...Introduction AJ DAVIS is a department store chain, which has many credit customers and wants to find out more information about these customers. A sample of 50 credit customers is selected with data collected on the following five variables: 1. Location (Rural, Urban, Suburban) 2. Income (in $1,000’s) 3. Size (Household size) 4. Years (the number of years that the customer has lived in the current location) 5. Credit balance (the customers current credit balance on the store’s credit card, in $ Dollars) Individual variables a. Location Location | Frequency | Relative Frequency | Rural | 13 | 0.26 | Suburban | 15 | 0.3 | Urban | 22 | 0.44 | n= | 50 | 1 | The table and the pie chart above, show the location of AJ Davis’ customers distributed in 3 areas: rural, suburban and urban. The majority of customers live in urban areas with 44% or 22 out of 50. Suburban areas with 30% or 15 out of 50 of customers are the second and rural areas have the least amount of customers with 26% or 13 out of 50. b. Income Variable Income ($1000) | | | | n=50 | | | | | | | | | | Mean= 43.74 | Std Dev=14.64 | | Q1=30 | Median=42 | | Min=21 | | Q3=55 | Mode=55 | | Max=67 | | Range=46 | Based on the table and histogram, the range of customer’s income is $46,000, with the highest income at $67,000 and the lowest at $21,000. The mean (average) income of a customer is $43,740. The median income is $43,000. Because the median is less than......

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...MATH533: Applied Managerial Statistics Course project – part A I. Introduction. AJ DAVIS is a department store chain, which has many credit customers and wants to find out more information about these customers. A sample of 50 credit customers is selected with data collected on the following five variables: 1. Location (Rural, Urban, Suburban) 2. Income (in $1,000’s) 3. Size (Household size) 4. Years (the number of years that the customer has lived in the current location) 5. Credit balance (the customers current credit balance on the store’s credit card, in $) II. Individual variables. 1. Location Tally for Discrete Variables: Location Location Count Percent Rural 13 26.00 Suburban 15 30.00 Urban 22 44.00 N= 50 [pic] Interpretation: Look at the table and the pie chart above, we can see the location of AJ Davis’ customers is distributed in 3 areas: rural, urban and suburban. The majority of customer live in urban areas with 44%. Suburban areas with 30% of customers are the second and rural areas have the least amount of customers with 26%. 2. Income. Descriptive Statistics: Income ($1000) Total Variable Count Mean StDev Minimum Q1 Median Q3 Maximum Income ($1000) 50 43.74 14.64 21.00 30.00 43.00 55.00 67.00 Variable Range Income ($1000) 46.00 [pic] Interpretation: Based on the table and histogram, we have some comments as follow. The range of......

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