Boyce~

11 May 2011

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

FINAL EXAM PREPARATION, SPRING 2010

BSAD221²STUDY PREPARATION, SPRING 2010 FINAL EXAM

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 .