Learning Outcome:
A. Present results in a logical and readable format.
B. Identify techniques to consider a structured problem.
C. Summarize and present statistical data by using means, measures of dispersion and graphs.
D. Estimate population parameters from sample statistics with appropriate confidence intervals.
E. Present data using different types of graphical and tabular representation.
F. Compute simple and multiple correlation coefficients.
Problem 1: A student enrolled in a business program is attending the first class of the required statistics course. The student is somewhat scared because that student believes that the course is difficult. To ease his anxiety, the student asks the teacher about marks of previous year. The teacher agrees and provides a list of the final marks, which is composed of midterm plus the final exam. Draw a histogram and describe the result, based on the following marks:
56, 89, 66, 75,64, 78, 48, 56, 59, 61, 67, 55, 81, 79, 74, 63, 91, 57, 71, 64, 55, 85, 66, 77, 59, 64, 69, 73, 78, 86, 81, 54, 69, 74, 55,64, 66, 59, 52, 68, 64, 79, 74, 76, 68, 90, 52, 85, 67, 67, 45, 85, 91, 75, 71, 87, 89, 54, 63, 55, 64 and 59.
Problem 2: A sample of 15 batteries was tested. The batteries lasted, in hours: 26, 29, 28, 33, 22, 28, 26, 23, 31, 26, 24, 26, 27, 26, and 27.
- Calculate the mean life of a battery, correct to one decimal place (i.e. with one figure after the decimal point).
- How many hours of life will the company claim?
Problem 3: Consider the scores of one batsman during the cricket season: 6, 0, 14, 4, 9, 16, 2, 18, 24, 0, 41, and 44. Calculate the median and the mean of this set of scores.
Problem 4: Ali is considering investing in mining company. He intends to compute the standard deviation of its recent price changes to measure how steady its stock price has been recently. The following are the closing prices for the stock for the past 20 trading sessions: 39, 37, 37, 42, 41, 37, 39, 38, 42, 40, 40, 38, 44, 41, 42, 43, 38, 42, 41, and 43. What is the standard deviation for this data set?
Problem 5: How statistics is important for managing business? Write in your own words.
Problem 6: Mr. Mohammed is studying for final examination. He inquires his friend, Mr. Rahim, and asks him how long he is studying for the examinations. Mr. Rahim says that he is spending 8 hours every week. Mr. Mohammed has been studying for her examination for a 2 hours in a week. The next week. Mr. Mohammed and Mr. Rahim get their examination results. Mr. Rahim got an A on his examination, and Mr. Mohammed got a C. Mr. Mohammed wonders if there is a correlation between the number of hours spent studying and the grade a student earns.
You are required to look at the data Mr. Mohammed collected from his classmates, and see if you can find a correlation the number of hours spent studying and the grade a student earns.
|
Hours of study(x)
|
Marks (Y)
|
|
8
|
98
|
|
2
|
74
|
|
6
|
87
|
|
4
|
82
|
|
2
|
72
|
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