Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr.

Boyce~

11 May 2011

Weighted Mean/Frequency Distribution/Interval Estimation/Probability & Sampling Distribution/Simple Linear Regression

BSAD221

FINAL EXAM PREPARATION, SPRING 2010

BSAD221²STUDY PREPARATION, SPRING 2010 FINAL EXAM
BSAD221²Business Statistics Spring 2010 Exam Study Preparation 

Calculation of Standard Error²{i.e., the Standard Deviation of a Point Estimation} of a Sample Mean, as in Section 7.5 of the Anderson/Sweeney/Williams (2009). Modern Business Statistics + Microsoft® Excel. (3rd ed.) Textbook Designing of a Confidence Interval of a Sample Mean, as in Section 8.1 of the Anderson/Sweeney/Williams (2009). Modern Business Statistics + Microsoft® Excel. (3rd ed.) Textbook Margin of Error, based on # of Observations, Sample Mean, Population Standard Deviation Computation of a ormal Probability Distribution, as in Section 6.2 of the Anderson/Sweeney/Williams (2009). Modern Business Statistics + Microsoft® Excel. (3rd ed.) Textbook Calculation of Point Estimation of Population Proportion, as in Section 8.4 of the Anderson/Sweeney/Williams (2009). Modern Business Statistics + Microsoft® Excel. (3rd ed.) Textbook Computation of Weighted Mean, as in Section 3.6 of Anderson/Sweeney/Williams (2009). Modern Business Statistics + Microsoft® Excel. (3rd ed.) Textbook ±albeit NOT Covered on Final Exam
Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. Boyce~     

11 May 2011

cont.2.) Textbook Microsoft® Excel proficiency in employing/computing/constructing  Descriptive Statistics  Binomial Probabilities  Poisson Probabilities  Normal Probabilities  Interval Estimates of Population Mean/Population Proportion  Estimated Regression Equation  Coefficient of Determination  Correlation Coefficient Morrisville State College Charts²Histogram. Modern Business Statistics + Microsoft® Excel. as in Section 5. Binomial Probability Distribution. 14. (3rd ed.3 of Anderson/Sweeney/Williams (2009).4 of Anderson/Sweeney/Williams (2009). SPRING 2010 FINAL EXAM    BSAD221²Business Statistics Spring 2010 Exam Study Preparation. Modern Business Statistics + Microsoft® Excel.1. (3rd ed.5 of Anderson/Sweeney/Williams (2009). 3. & Relative Location.) Poisson Probability Distribution. Boyce~   . as in Section¶s 2.2.BSAD221²STUDY PREPARATION. Modern Business Statistics + Microsoft® Excel. & 3.) Textbook Summarizing Quantitative Data/Designing of a Frequency/Presentation of Graphical Depiction of Frequency Distribution/Discussion of Descriptive Statistics²including Measures of Variability/Distribution Shape. Modern Business Statistics + Microsoft® Excel. 3. & 14.) Calculation of a Regression Equation/Computation of a Coefficient of Determination/Construction of a Scatter Diagram/Interpretation of the Slope of an Estimated Regression Equation.3 of Anderson/Sweeney/Williams (2009).1. as in Section 5. as in Section¶s 14.2. (3rd ed. Scatter Diagrams 11 May 2011 BSAD221/Business Statistics Spring 2010 ~Dr. (3rd ed.

 Guidelines for Selecting Number of Classes ‡Data sets with a larger number of elements usually require a larger number of classes. .Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. Boyce~ 11 May 2011 FREQUENCY DISTRIBUTION ‡ Use between 5 and 20 classes. ‡Smaller data sets usually require fewer classes.

Boyce~ 11 May 2011 FREQUENCY DISTRIBUTION  Guidelines for Selecting Width of Classes ‡Use Classes of Equal Width.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. ‡Approximate Class Width = .

Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. SPRING 2010 FINAL EXAM . Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.

Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. SPRING 2010 FINAL EXAM . Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.

C = 2. A = 4. His grade report is presented below. B = 3. Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.e.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. a freshman at a local college just completed 15 credit hours. F = 0. i. SPRING 2010 FINAL EXAM ~ Weighted Mean ~ Paul. D = 1. 1 Grades C A D B A The local university uses a 4 point grading system.E. Course Credit Hours Calculus 5 Biology 4 English 3 Music 2 P. Please compute Paul¶s semester grade point average. ..

Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION. SPRING 2010 FINAL EXAM ~ Weighted Mean ~ .Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr.

Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. Boyce~ 11 May 2011 DISCRETE PROBABILITY DISTRIBUTION RANDOM VARIABLE ~Binomial Distribution~ .

Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. Boyce~ 11 May 2011 DISCRETE PROBABILITY DISTRIBUTION RANDOM VARIABLE ~Binomial Distribution~ .

SPRING 2010 FINAL EXAM .Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.

SPRING 2010 FINAL EXAM . Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr.

Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. Boyce~ 11 May 2011 Continuous Probability²Normal Distribution .

Boyce~ 11 May 2011 Normal Probability Distribution .Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr.

SPRING 2010 FINAL EXAM .Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.

Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. SPRING 2010 FINAL EXAM .

Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION. SPRING 2010 FINAL EXAM .Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr.

Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION. µKnown¶ ~ .Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. SPRING 2010 FINAL EXAM ~ Interval Estimation.

Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. µKnown¶ ~ . SPRING 2010 FINAL EXAM ~ Interval Estimation.

Population µ ~ . SPRING 2010 FINAL EXAM ~ Sample Size for Interval Estimation. Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr.

SPRING 2010 FINAL EXAM ~ Sample Size for Interval Estimation.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION. Population µ ~ .

Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. 2006). Please use a 95% confidence level. MySpace was voted the most popular Web site by 9% in a sample survey of Internet users in this age group. February 7. 87% of Americans ages 12 to 17 are Internet users (The Cincinnati Enquirer.  What is the margin of error? What is the interval estimate of the population proportion for which MySpace is the most popular Web site?  . SPRING2010 FINAL EXAM America¶s young people are heavy Internet users. Suppose 1400 youths participated in the survey. Boyce~ 11 May 2011 BSAD221  STUDY PREPARATION.

Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. SPRING 2010 FINAL EXAM .

The previous three-year period had been bad for the stock market.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr.000 or more to charity over the previous year. b. September 22. The survey reported that 53% of the respondents lost 25% or more of their portfolio value over the past three years. Please develop a 95% confidence interval for the proportion of wealthy people who lost 25% or more of their portfolio value over the past three years. The survey reported that 31% of the respondents feel they have to save more for retirement to make up for what they lost. SPRING 2010 FINAL EXAM A Phoenix Wealth Management/ Harris Interactive survey of 1500 individuals with net worth of $ 1 million or more provided a variety of statistics on wealthy people (BusinessWeek. Five-percent of the respondents gave $ 25. c. a.000 or more to charity. 2003). Please develop a 95% confidence interval for the population proportion. Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION. . Please develop a 95% confidence interval for the proportion who gave $ 25. which motivated some of the questions asked.

Boyce~ 11 May 2011 BSAD221 STUDY PREPARATION.Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. SPRING 2010 FINAL EXAM .

Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr. Boyce~ 11 May 2011 SAMPLING DISTRIBUTION .

Sweeney.. Krehbiel. Edwards University²Slide Preparation²Modern Business Statistics with Microsoft Excel.). A. Boston. Mason OH: Thomson/South-Western. A. (2009). A. M. G. & Keeling. Statistical techniques in business and economics [with student CD-ROM mandatory package] (13th ed. Morrisville State College-BSAD221/Business Statistics Spring 2010 ~Dr.. OH: Thomson/South-Western. OH: Thomson/South-Western. & (2009).). & Wathen.. K. Anderson. Loucks. Mason. Fry. Mason. C. D.. Statistics for Management and Economics (7th ed. S. R. Mason OH: Thomson/South-Western. W. W. A. & Williams.). D. Sweeney. M. (3rd ed.. D. S. (2007). (2008). (2009). Marchal... H.). Concise Managerial Statistics. Pavur. SPRING 2010 FINAL EXAM Anderson. A. Levine.. (2008).11 May 2011 BSAD221 STUDY PREPARATION. R. J. NJ: Prentice Hall. T. D. L. J.) Mason. NJ: Prentice Hall. Boyce~ .). K. Groebner. J. Upper Saddle River. F. Berenson. Business statistics: A decisionmaking approach [with student update package] (6th ed... & Smith. D. T. Modern Business Statistics with Microsoft® Excel. Upper Saddle River. D. G. MA: McGrawHill.. Keller.. St. Lind. D. Basic business statistics: Concepts and applications (11th ed.. B. C. OH: South-Western Cengage Learning.). D. & Williams. Kvanli. (3rd ed. (2006). Shannon. P.. (2009). R. J. P. Statistics for Business and Economics (10th ed. T.