MGMT 650- stats hw

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Management

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Jun 18, 2024

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MGMT 650 Spring 2024 Chapter 1 1.3,1.6,1.7.1.23.1.31 1.3 a. Download time is continuous because it has numerical values that keep going when you measure. b. Download time is ratio scaled because they have a rising point which has order and a true zero point. 1.6 Discrete= counts, Continuous= measurements, money,time a. Categorical, nominal scale b. Numerical,ratio-scaled, continuous c. Categorical, Binary (yes or no), discrete d. Numerical,ratio-scaled, discrete e. Categorical, nominal scale 1.7 a. Numerical, ratio-scaled, continuous b. Categorical, nominal c. Categorical, nominal d. Numerical, Ratio-scaled, discrete 1.23 a. I would select Simple Random Sampling because every type of student has a chance of being included equally. b. Some advantages are: equal opportunity to be chosen for the sample testing, it is an easy way to generate a sample. c. Systemic Sampling is advantageous because the samples are chosen evenly, drawing samples have a low cost. d. Systemic Sampling can be utilized because the population has 8 intervals. e. I would Systemic Sampling and select clusters from each interval to collect data. 1.31 a. Coverage error- there are unclear or confusing questions b. Nonresponse error- there is not enough communications sent out about the survey c. Sampling error- there is an imbalance in types of employees who were surveyed d. Measurement error- different question types are given with an unbalanced point system
Chapter 3 3.4, 3.22 3.4 -8,-5,7,7,9 a. Mean: (-8-5+7+7+9)/5 =10/5 =2 Median: = 7 Mode= 7 b. Range: 9- (-8)= 17 Variance= sum (value-mean)^2/n-1 Numerator= (-8-2)^2+(-5-2)^2+(7-2)^2+(7-2)^2+(9-2)^2 =100+49+25+25+49 =248 Denominator= 5-1 248/4= 62 Standard Deviation= sqrt(62 = 7.87 Coefficient of Variation= (sd/mean)*100 = (7.87/4)*100 =393.5% c. Z Score: (x-mean)/sd Z1: -1.27, Z2: -0.89, Z3: 0.63, Z4: 0.63, Z5: 0.89 There are no outliers, they all fall within range. d. The dataset is negatively skewed because the median is greater than the mean. 3.22 a. Geometric Mean: (1+r1)*(1+r2)…^1/n-1 Chapter 4 4.4,4.8,4.13,4.14,4.16,4.22,4.26
4.4 In picture 4.8 a. Gen X b. Millennial with a retirement account c. No retirement Account d. Millennial with retirement account is a joint event because there are two characteristics
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