...BMS1024 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 ...
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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. As...
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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 Critical...
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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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...Exploratory Data Analysis Course Project Part A Subject: Applied Managerial Statistics Faculty: Curtis Allen Brown Submitted by: Christian Oji Introduction Exploratory Data Analysis (EDA): Exploratory data analysis is an approach to analyze statistical data using a variety of techniques out of which many are graphical analyses. EDA is used to dissect the data and look for the hidden patterns and correlations. Some of the graphical methods include pie charts, bar graphs, histograms, frequency and relative frequency tables, box plot, scatter graph, stem-leaf diagram etc. There are also quantitative measures of data which include central tendencies like mean and median, measure of dispersion like standard deviation, minimum and maximum...
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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 the...
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...Table of Contents: Introduction A. Analysis of Individual Variables 1 – Sales 2 – Calls 3 – Type B. Analysis of Selected Variable Pairs 1 – Sales vs. Calls 2 – Sales vs. Type 3 – Calls vs. Type C. Conclusion Introduction In collecting this data, we are determining the number of sales the employees have closed and correlating that information to the amount of calls the employee makes during the week and type of training that each employee has received. The goal is to determine whether or not the type of training (or the lack thereof) and the amount of calls made affect the amount of sales each employee closes during the week. The inference is that the number of sales that are closed during the week are larger for those who have completed some type of training. Analysis of Individual Variables 1. Sales Mean – 42.467 Median – 42 Mode – 43,44 Range – 20 Standard Deviation – 4.259 Variance – 18.139 Once the data is organized it is clear to see the number of sales each week falls between 32 sales/wk to 52 sales/wk. The average weekly sales come to 42.467 with a majority of employees closing 42 sales or more per week. There is a difference of 20 sales from the employee with the least amount of closed sales to the employee with the most sales closed during the week. 2. Calls Mean – 162.59 Median – 161.50 Mode – 149 Range – 77 Standard Deviation – 18.46 Variance – 340.81 The number...
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...Research or Interview Paper Instructions You can choose 1 of the following two options for your Research or Interview Paper. Your paper will be 7 double-spaced pages for the main content (not including the cover page and reference page). Your choices include: 1. A research paper Steps for writing the research paper: a) Choose a topic in Managerial Economics. b) Submit the topic and the outline of the paper to the instructor anytime for approval. c) A minimum of 3 references besides the textbook are required. Liberty University library has excellent resources for your search for journals. http://www.liberty.edu/index.cfm?PID=178 OR 2. An interview paper Steps for writing the interview paper: a) Choose a topic in Managerial Economics. b) Design at least 5 questions according to the topic. c) Submit your questions to the instructor for approval. d) Contact a local or non-local company for an interview. e) Conduct the interview for answers to your questions. f) The paper must have 3 parts: • The description of the company; • Interview questions and answers; and • Your comments. *The research paper is to be done individually, not as a group. **Do not wait until the last module/week to work on the paper. Do it as early as possible. ***A paper that was written for other classes would not be accepted for...
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...Case Study: Chapter 8 Aaron Lambert Saint Leo MBA 540 Managerial Economics Analyzing Managerial Decisions: Leaving New York for the Farmlands of Illinois While the co-workers may be rightly supportive of the individual’s aspirations, they are likely not qualified to advise him on this matter. The individual claims to have $800,000.00 saved from bonuses at his current place of employment. Based on that information alone, it appears that he is considering walking away from what seems like a fairly secure and profitable situation at his current job and committing to a new and less certain endeavor. With reports implying that demand for corn will soar the farming proposition may seem like a good idea; however, our potential farmer needs to consider other factors. The costs associated with acquiring the land are known and estimated to be $800,000.00, but there are other costs involved that are considerable and quite fixed. He will need to purchase farming equipment and machinery, which will require much more cash upfront in addition to the land. These fixed costs definitely need to be factored into the decision but are omitted in the text. If he has a lot more of that bonus money remaining, he could purchase the machinery outright. If paying cash is not possible he will need to take up a loan, lease, or rent; either option resulting in additional expenses incurred each period. Based on an article published by the University of Illinois in 2014, corn farmers in Illinois...
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...MID-TERM EXAM - 1st Semester, 2012 |Date |Time |Course Title & Code |Room No. | |29 June, 2012 |11.00 am ~ 12.30 pm |501: Accounting System & Auditing |502 | |(Friday) | | | | |30 June, 2012 |7.00 pm ~ 8.30 pm |502: Managerial Economics |402 | |(Saturday) | | | | |06 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication |502 | |(Friday) | | | | |07 July, 2012 |7.00 pm ~ 8.30 pm |504: Advanced Management |502 | |(Saturday) | | | | |13 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication...
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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 customer’s...
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...Institute of Management Sciences Peshawar Bachelors in Business Studies Course Plan Course Title: Statistics for Business Instructor: Shahid Ali Contact Email shahid.ali@imsciences.edu.pk Semester/Duration: 16 Weeks Course objectives : To introduce students to the concepts of statistics and to equip them with analytical tools to be used in business decision making. The course is intended to polish the numeric ability of the students to identify business problems, describe them numerically and to provide intelligible solutions by data collection and inferential principles. Course pre-requisites Intermediate statistics Attendance Policy: Late arrivals are highly discouraged. Any student coming late to a class late by 5 minutes after the scheduled start time will be marked as absent for the day. The teacher reserves discretion, however, to allow or disallow any student, to sit in the class in case of late arrivals. Attendance is not be entertained once the attendance register is closed. Class Project Students will be divided in groups for a class project. Each group will have to nominate a group leader. The details of the project will be made available to the group leader. Class Presentations Each student will have to make at least one individual presentation and one group presentation in the class. The group presentation will be on the project explained earlier. The individual presentations will...
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...|Individual Fundamentals of |Write a 700- to 1,050-word paper describing the scientific method and the fundamentals of |Mon, 11/18/2013 |10 | |Research Paper |research. Address each of the following in your paper: |11:59 PM MST | | | | | | | | |Define the scientific method. How does it relate to human services research? | | | | | | | | | |What are the steps in the process of scientific inquiry? Why must each of these steps be | | | | |included to support the scientific method? Provide a human services research example of the | | | | |scientific method and identify each step within your example. | | | | | | | | | |Define quantitative research...
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...BMS1024 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 ...
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