Business Statistics question I need help with!!!?
I am really confused with question and need help understanding.... any help would be great!!!! In New Jersey, Banks have been charged with withdrawing from countries having a high percent of minorities. To substantiate this charge, P.D. Ambrosio and S Chambers (1995), present in the data in show below: QUESTIONS A.) Determine if there is significant relationship between X and Y. B.) Describe the exact nature of any relationship that exists between X and Y. ( HINT: estimate B1 by a point estimate and a confidence interval. The New Jersey Bank Data Set County % of Minority Population, x Number of Residents per Bank Branch, y Atlantic 23.3 3073 Bergen 13.0 2095 Bulington 17.8 2905 Camden 23.4 3330 Cape May 7.3 1321 Cumberland 26.5 2557 Essex 48.8 3474 Gloucester 10.7 3068 Hudson 33.2 3683 Hunterdon 3.7 1998 Mercer 24.9 2607 Middlesex 18.1 3154 Monmouth 12.6 2609 Morris 8.2 2253 Ocean 4.7 2317 paasic 28.1 3307 Salem 16.7 2511 Somerset 12.0 2333 Sussex 2.4 2568 Union 25.6 3048 Warren 2.8 2349
Need help on a Business Statistics question?
AARP reported on a study conducted to learn how long it takes individuals to prepare their federal income tax return. The study reported how many hours were needed for 40 individuals to complete their federal income tax returns. The mean of that sample was 33.5 hours and the population standard deviation is σ= 9 hours. What is the 95% confidence interval estimate of the mean time it takes an individual to complete a federal income tax return?
Need help on business statistics question... 10 points thanks?
A company is studying the number of monthly absences among its 125 employees. The following probability distribution shows the likelihood that people were absent 0, 1, 2, 3, 4, or 5 days last month Numbers of days absent: Probability 0 0.60 1 0.20 2 0.12 3 0.04 4 0.04 5 0 Given the probability distribution, which of the following predictions is correct? a) 60% of the employees will have more than one day absent for a month. b) There is a 0.12 probability that an employee will be absent 2 days during a month. c) There is a 0.04 probability that an employee will be absent 1 day during a month. d) There is a 0.50 probability that an employee will be absent 0.72 days during a month
I need help with these questions in my Business Statistics class.?
CH04: Sec 7 Question 27A Arthur Andersen Enterprise Group/National Small Business United,Washington, conducted a national survey of small-business owners to determine the challenges for growth for their businesses. The top challenge, selected by 46% of the smallbusiness owners, was the economy. A close second was finding qualified workers (37%). Suppose 12% of the small-business owners selected both the economy and finding qualified workers as challenges for growth. A small-business owner is randomly selected. a. What is the probability that the owner believes the economy is a challenge for growth if the owner believes that finding qualified workers is a challenge for growth? b. What is the probability that the owner believes that finding qualified workers is a challenge for growth if the owner believes that the economy is a challenge for growth? c. Given that the owner does not select the economy as a challenge for growth, what is the probability that the owner believes that finding qualified workers is a challenge for growth? d. What is the probability that the owner believes neither that the economy is a challenge for growth nor that finding qualified workers is a challenge for growth? *Round your answer to 4 decimal places, the tolerance is +/-0.0001. a) b) c) d) --------------------------------------... CH05: Sec 2 Question 3A The following data are the result of a historical study of the number of flaws found in a porcelain cup produced by a manufacturing firm. Use these data and the associated probabilities to compute the expected number of flaws and the standard deviation of flaws. Flaws Probability 0 0.452 1 0.283 2 0.135 3 0.089 4 0.038 *Round your answer to 3 decimal places, the tolerance is +/-0.001. **Round your answer to 4 decimal places, the tolerance is +/-0.0001. Expected number = * Standard deviation = **
Need help for one last Business Statistics problem.?
I need help with this one last problem here for my stat final. I just want to check to see if I got the right answer. Any help is appreciated, thank you. According to data released by the World Bank, the mean PM10 (particulate matter) concentration for the city of Kabul, Afghanistan, in 1999 was 46. Suppose that because of efforts to improve air quality in Kabul, increases in modernization, and efforts to establish environmental-friendly businesses, city leaders believe rates of particulate matter in Kabul have decreased. To test this notion, they randomly sample 12 readings over a one-year period with the resulting readings shown below. Do these data present enough evidence to determine that PM10 readings are significantly less now in Kabul? Assume that particulate readings are normally distributed and that α = .01. 31 44 35 53 57 47 32 40 31 38 53 45 The value of the test statistic is t =_________ and we________ (either "reject the null hypothesis" or "fail to reject the null hypothesis"
Business Statistic Question. Please Help!!?
1) Let μ be the mean selling price of new homes in Sugar Land over a year Let σ be the population standard deviation Mean μ = 120000 Standard deviation σ = 28000 Standard error σ / √ n = 28000 / √ 100 = 2800 standardize xbar to z = (xbar - μ) / (σ / √ n ) P(xbar > 116000) = P( z > (116000-120000) / 2800) = P(z > -1.4286) = 0.9236 (from normal probability table) 2) Mean μ = 120000 Standard deviation σ = 28000 Standard error σ / √ n = 28000 / √ 100 = 2800 standardize xbar to z = (xbar - μ) / (σ / √ n ) P( 118000 < xbar < 122000) = P[( 118000 - 120000) / 2800 < z < ( 122000 - 120000) / 2800] P( -0.7143 < z < 0.7143) = 0.7611 - 0.2389 = 0.5222 find the are below 0.7143; find the area below -0.7143; subtract (from normal probability table) 3) Mean μ = 120000 Standard deviation σ = 28000 Standard error σ / √ n = 28000 / √ 100 = 2800 standardize xbar to z = (xbar - μ) / (σ / √ n ) P( 119000 < xbar < 121000) = P[( 119000 - 120000) / 2800 < z < ( 121000 - 120000) / 2800] P( -0.3571 < z < 0.3571) = 0.6406 - 0.3594 = 0.2812 find the area below 0.3571; find the are below -0.3571; subtract (from normal probability table) 4) The results more or less give meaningful answers. Besides, the distribution of the sample mean approaches the normal distribution as the sample size increases (Central Limit Theorem).
Business Statistics Question. Please help. I need to show work as well.?
2) The human resource director at Schultz Industries is interested in examining the effect of gender and employee classification on the annual dollar amount of dental claims for unmarried employees in the company. Employee classifications range from category 1 (production-line worker) to category 4 (upper-level management). The director decided to use three replicates for each of the eight treatment combinations, requiring annual claims from 24 different employees. Use the sample results (below) to test for the significance of the gender, employee classification, and interaction between gender and employee classification. Use a significance level of 0.05. Employee Classification Category 1 Category 2 Category 3 Category 4 Male 190 135 260 310 Male 225 180 330 280 Male 200 100 350 240 Female 235 275 160 160 Female 200 310 205 110 Female 270 285 140 80
Business statistics Question(s) - Are Statistics used as a basis for making decisions. True False?
1.) Are Statistics used as a basis for making decisions. True / False 2.)The CIA World Factbook cited these numbers for the United States: • Birthrate is 14.14 births per 1,000 population • Average life expectancy for females is 80 years • Approximately 290 million persons residing in the United States Each of these numbers is referred to as statistic? True or False 3.) Is Statistics defined as a body of techniques used to facilitate the collection, organization, presentation, analysis and interpretation of information for the purpose of making better decisions. True / False 4.)The order that runners finish in a race would be an example of continuous data. True/False 5.) The number of children in a family is a discrete variable. True/ False 6.) Is the principal difference between the interval and ratio scale is that the ratio scale has a meaningful zero point. True / False 7.) Is Categorizing voters as Democrats, Republicans and Independents is an example of interval level measurement. True / False These are Questions I was iffy on and couldn't find them in the textbook. Thanks For the assistance :)
Business Statistics Question on interval for the mean?
This is a small sample (only 5 observations), hence t- distribution is to be applied. The confidence interval for the population mean is given by: sample mean - 3.49 σ/√(n) ≤ µ ≤ sample mean + 3.49 σ/√(n). Here the value of sigma is the sample standard deviation to be calculated from the 5 given scores and the sample mean is simply the AM of these 5 observations, and n =5. The value 3.49 is obtained from the t- table for 98% level at 4 degrees of freedom. So find out mean and sd and simplify the above interval to get what you want. OK ?
Business Statistics Question? HELP? Multiple Regression Model Building?
You are considering four independent variables for inclusion in a regression model. You select a sample of 30 observations, with the following results: 1. The model that includes independent variables A and B has a C(p) value equal to 4.6 2. the model that includes independent variables A and C has a C(p) value equal to 2.4 3. The model that includes independent variables A, B, and C has a C(p) value equal to 2.7 A. Which models meet the criterion for further consideration? Explain. B. How would you compare the model that contains independent variables A, B, and C to the model that contains independent variables A and B? Explain.