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Complete the following problem in your textbook:
From Chapter 4: Problems: 15, 28, and 27
From Chapter 5: Problems: 7, 26, 47, and 50
From Chapter 6: Problems: 20 and 22
From Chapter 7: Problems: 8, 23, and 30
All work should be submitted in Excel with one (1) problem per tab in a single workbook. Formulas should be used as opposed to outside or manual calculations. Use of Excel add-ins is encouraged.
Chapter 4:
15. “In the Excel file Economic Poll, find the proportions of each categorical variable.”
27. “The Excel file Beverage Sales lists a sample of weekday sales at a convenience store, along with the daily high temperature. Compute the covariance and correlation between temperature and sales.”
28. “For the Excel file Credit Risk Data, compute the correlation between age and months employed, age and combined checking and savings account balance, and the number of months as a customer and amount of money in the bank. Interpret your results.”
Chapter 5:
7. See Attachment
26. “The Excel file Call Center Data shows that in a sample of 70 individuals, 27 had prior call center experience. If we assume that the probability that any potential hire will also have experience with a probability of 27/70, what is the probability that among 10 potential hires, more than half of them will have experience? Define the parameter(s) for this distribution based on the data.”
47. “A formula in financial analysis is: Return on =net profit margin×total asset turnover×equity multiplier=net profit margin×total asset turnover×equity multiplier. Suppose that the equity multiplier is fixed at 4.0, but that the net profit margin is normally distributed with a mean of 3.8% and a standard deviation of 0.4%, and that the total asset turnover is normally distributed with a mean of 1.5 and a standard deviation of 0.2. Set up and conduct a sampling experiment to find the distribution of the return on equity. Show your results as a histogram to help explain your analysis and conclusions. Use the empirical rules to predict the return on equity.”
50. “Use Analytic Solver Platform to fit a distribution to the data in the Excel file Computer Repair Times. Try the three different statistical measures for evaluating goodness of fit and see if they result in different best-fitting distributions.”
Chapter 6:
20. “The Excel file Baseball Attendance shows the attendance in thousands at San Francisco Giants’ baseball games for the 10 years before the Oakland A’s moved to the Bay Area in 1968, as well as the combined attendance for both teams for the next 11 years. Develop 95% confidence intervals for the mean attendance of each of the two groups. Based on these confidence intervals, would you conclude that attendance has changed after the move?”
22. See Attached
Chapter 7:
8. “Call centers typically have high turnover. The director of human resources for a large bank has compiled data on about 70 former employees at one of the bank’s call centers in the Excel file Call Center Data. In writing an article about call center working conditions, a reporter has claimed that the average tenure is no more than 2 years. Formulate and test a hypothesis using these data to determine if this claim can be disputed.”
23. “The director of human resources for a large bank has compiled data on about 70 former employees at one of the bank’s call centers (see the Excel file Call Center Data). For each of the following, assume equal variances of the two populations. Test the null hypothesis that the average length of service for males is the same as for females. Test the null hypothesis that the average length of service for individuals without prior call center experience is the same as those with experience. Test the null hypothesis that the average length of service for individuals with a college degree is the same as for individuals without a college degree. Now conduct tests of hypotheses for equality of variances. Were your assumptions of equal variances valid? If not, repeat the test(s) for means using the unequal variance test.”
30. “Using the data in the Excel file Cell Phone Survey, apply ANOVA to determine if the mean response for Value for the Dollar is the same for different types of cell phones.”
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