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    GM 533 Statistics Final Examination | Complete Solution GM 533 Statistics Final Examination | Complete Solution Data Set Ford Mustang Automobiles PRICE CONVERT AGE MILES TRANS Variables: 12688 0 1 8200 0 PRICE = Asking price in dollars 11500 0 1 27000 1 CONVERT = 1 if convertible and 0 if not 11650 0 1 3000 0 AGE = age of car in years 10995 1 2 27000 1 MILES = odometer reading in miles 6200 0 3 55000 1 TRANS = 1 if automatic and 0 if manual 9500 0 3 22000 0 8700 0 3 25000 1 Source: Practical Data Analysis 2nd, Vol I, II 12500 0 2 23800 0 Bryant-Smith McGraw-Hill ISBN -13:978-0-69-778527-5 10488 1 4 20000 0 For Applied Managerial Statistics GM533 DeVry University 5988 0 4 37000 0 7288 1 5 84000 1 3590 0 5 55000 0 2800 0 6 62000 0 6995 1 7 78000 1 4900 0 7 60000 0 2488 0 7 67000 1 4200 1 8 65000 1 12990 1 1 13300 1 14500 1 3 31000 1 10900 1 3 4000 1 13500 1 3 23000 0 12000 0 3 89000 0 8500 0 3 34000 1 4388 0 4 80000 0 3000 0 7 95000 0 3900 0 8 90000 0 3350 0 8 91000 0 10500 0 3 17000 0 12988 0 1 21000 1 6500 0 3 73000 0 12900 1 2 19000 0 9000 0 2 32000 0 7000 0 6 56000 0 5900 0 4 110000 1 2500 0 6 92000 0 1) Use descriptive statistics to describe the price of the autos in the data set TCO A assuming it is a sample. 5 points 2) Draw a histogram of the Price of autos in the data set. TCO A 5 points 3) Compare the average price of the five autos with the lowest mileage TCO A to the average price of the five autos with the highest mileage. 5 points Use a column graph to illustrate your findings. 4) Stanford-Binet IQ Test scores are normally distributed with a mean score of 100 TCO B and a standard deviation of 16. 25 points a) Find the probability that a randomly selected person has an IQ score over 133 b) Find the probability that a randomly selected person has an IQ score under 86 c) Find the probability that a randomly selected person has an IQ score between 72 and 128 d) Find the probability a randomly selected person has an IQ within 1.5 standard deviations of the mean. e) Find the lowest IQ s

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    GM 533 Statistics Final Examination | Complete Solution GM 533 Statistics Final Examination | Complete Solution Data Set Ford Mustang Automobiles PRICE CONVERT AGE MILES TRANS Variables: 12688 0 1 8200 0 PRICE = Asking price in dollars 11500 0 1 27000 1 CONVERT = 1 if convertible and 0 if not 11650 0 1 3000 0 AGE = age of car in years 10995 1 2 27000 1 MILES = odometer reading in miles 6200 0 3 55000 1 TRANS = 1 if automatic and 0 if manual 9500 0 3 22000 0 8700 0 3 25000 1 Source: Practical Data Analysis 2nd, Vol I, II 12500 0 2 23800 0 Bryant-Smith McGraw-Hill ISBN -13:978-0-69-778527-5 10488 1 4 20000 0 For Applied Managerial Statistics GM533 DeVry University 5988 0 4 37000 0 7288 1 5 84000 1 3590 0 5 55000 0 2800 0 6 62000 0 6995 1 7 78000 1 4900 0 7 60000 0 2488 0 7 67000 1 4200 1 8 65000 1 12990 1 1 13300 1 14500 1 3 31000 1 10900 1 3 4000 1 13500 1 3 23000 0 12000 0 3 89000 0 8500 0 3 34000 1 4388 0 4 80000 0 3000 0 7 95000 0 3900 0 8 90000 0 3350 0 8 91000 0 10500 0 3 17000 0 12988 0 1 21000 1 6500 0 3 73000 0 12900 1 2 19000 0 9000 0 2 32000 0 7000 0 6 56000 0 5900 0 4 110000 1 2500 0 6 92000 0 1) Use descriptive statistics to describe the price of the autos in the data set TCO A assuming it is a sample. 5 points 2) Draw a histogram of the Price of autos in the data set. TCO A 5 points 3) Compare the average price of the five autos with the lowest mileage TCO A to the average price of the five autos with the highest mileage. 5 points Use a column graph to illustrate your findings. 4) Stanford-Binet IQ Test scores are normally distributed with a mean score of 100 TCO B and a standard deviation of 16. 25 points a) Find the probability that a randomly selected person has an IQ score over 133 b) Find the probability that a randomly selected person has an IQ score under 86 c) Find the probability that a randomly selected person has an IQ score between 72 and 128 d) Find the probability a randomly selected person has an IQ within 1.5 standard deviations of the mean. e) Find the lowest IQ s

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    GM 533 Statistics Final Examination - Complete Solution

    Uploaded by

    teacher.theacestud
    GM 533 Statistics Final Examination | Complete Solution GM 533 Statistics Final Examination | Complete Solution Data Set Ford Mustang Automobiles PRICE CONVERT AGE MILES TRANS Variables: 12688 0 1 8200 0 PRICE = Asking price in dollars 11500 0 1 27000 1 CONVERT = 1 if convertible and 0 if not 11650 0 1 3000 0 AGE = age of car in years 10995 1 2 27000 1 MILES = odometer reading in miles 6200 0 3 55000 1 TRANS = 1 if automatic and 0 if manual 9500 0 3 22000 0 8700 0 3 25000 1 Source: Practical Data Analysis 2nd, Vol I, II 12500 0 2 23800 0 Bryant-Smith McGraw-Hill ISBN -13:978-0-69-778527-5 10488 1 4 20000 0 For Applied Managerial Statistics GM533 DeVry University 5988 0 4 37000 0 7288 1 5 84000 1 3590 0 5 55000 0 2800 0 6 62000 0 6995 1 7 78000 1 4900 0 7 60000 0 2488 0 7 67000 1 4200 1 8 65000 1 12990 1 1 13300 1 14500 1 3 31000 1 10900 1 3 4000 1 13500 1 3 23000 0 12000 0 3 89000 0 8500 0 3 34000 1 4388 0 4 80000 0 3000 0 7 95000 0 3900 0 8 90000 0 3350 0 8 91000 0 10500 0 3 17000 0 12988 0 1 21000 1 6500 0 3 73000 0 12900 1 2 19000 0 9000 0 2 32000 0 7000 0 6 56000 0 5900 0 4 110000 1 2500 0 6 92000 0 1) Use descriptive statistics to describe the price of the autos in the data set TCO A assuming it is a sample. 5 points 2) Draw a histogram of the Price of autos in the data set. TCO A 5 points 3) Compare the average price of the five autos with the lowest mileage TCO A to the average price of the five autos with the highest mileage. 5 points Use a column graph to illustrate your findings. 4) Stanford-Binet IQ Test scores are normally distributed with a mean score of 100 TCO B and a standard deviation of 16. 25 points a) Find the probability that a randomly selected person has an IQ score over 133 b) Find the probability that a randomly selected person has an IQ score under 86 c) Find the probability that a randomly selected person has an IQ score between 72 and 128 d) Find the probability a randomly selected person has an IQ within 1.5 standard deviations of the mean. e) Find the lowest IQ s

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    10/30/2015

    TheAceStudent:GM533StatisticsFinalExamination|CompleteSolution

    GM533StatisticsFinalExamination|CompleteSolution
    GM533StatisticsFinalExamination|CompleteSolution
    DataSetFordMustangAutomobiles
    PRICECONVERTAGEMILESTRANSVariables:
    126880182000PRICE=Askingpriceindollars
    1150001270001CONVERT=1ifconvertibleand0ifnot
    116500130000AGE=ageofcarinyears
    1099512270001MILES=odometerreadinginmiles
    620003550001TRANS=1ifautomaticand0ifmanual
    950003220000
    870003250001Source:PracticalDataAnalysis2nd,VolI,II
    1250002238000BryantSmithMcGrawHillISBN13:9780697785275
    1048814200000ForAppliedManagerialStatisticsGM533DeVryUniversity
    598804370000
    728815840001
    359005550000
    280006620000
    699517780001
    490007600000
    248807670001
    420018650001
    1299011133001
    1450013310001
    109001340001
    1350013230000
    1200003890000
    850003340001
    438804800000
    300007950000
    390008900000
    335008910000
    1050003170000
    1298801210001
    650003730000
    1290012190000
    900002320000
    700006560000
    5900041100001
    250006920000

    1)Usedescriptivestatisticstodescribethepriceoftheautosinthedataset
    TCOA
    assumingitisasample.5points

    2)DrawahistogramofthePriceofautosinthedataset.TCOA
    5points

    3)ComparetheaveragepriceofthefiveautoswiththelowestmileageTCO
    data:text/htmlcharset=utf8,%3Ch3%20class%3D%22posttitle%20entrytitle%22%20itemprop%3D%22name%22%20style%3D%22margin%3A%200px

    1/2

    10/30/2015

    TheAceStudent:GM533StatisticsFinalExamination|CompleteSolution

    A
    totheaveragepriceofthefiveautoswiththehighestmileage.5points
    Useacolumngraphtoillustrateyourfindings.

    4)StanfordBinetIQTestscoresarenormallydistributedwithameanscoreof100
    TCOB
    andastandarddeviationof16.
    25points
    a)FindtheprobabilitythatarandomlyselectedpersonhasanIQscoreover133

    b)FindtheprobabilitythatarandomlyselectedpersonhasanIQscoreunder86

    c)FindtheprobabilitythatarandomlyselectedpersonhasanIQscorebetween72and128

    d)FindtheprobabilityarandomlyselectedpersonhasanIQwithin1.5standarddeviationsofthe
    mean.

    e)FindthelowestIQscoreforapersonintheupper6%oftheStanfordBinetIQTestscore
    distribution.
    UsethefollowingDataSetAtoanswerquestions5,6,and7.
    GM533StatisticsFinalExamination|CompleteSolution

    data:text/htmlcharset=utf8,%3Ch3%20class%3D%22posttitle%20entrytitle%22%20itemprop%3D%22name%22%20style%3D%22margin%3A%200px

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