Ecn 221 Exam 1

Data cannot be summarized graphically.

False

Excel can be used to create graphs.

true

The minimum is the smalles value among the observations. True or false: the minimum is a statistic.

true One definition for a statistic is that a statistic is a function of the data.

Here is part of the box score from ASU's 2016 football game against UA. Calculate the z score for N'Keal Harry for YDS. Round up to 2 decimal places. Remember that the positive and negative values matter. Include the negative sign if your answer is negative. play. REC YDS AVG. TD. LONG Fred. 12. 116. 9.7. 1. 22 Tim. 4. 69. 17.3. 1. 33 Kalen. 10. 64. 6.4. 0. 15 Demar. 6. 59. 9.8. 0. 26 N'keal. 9. 51. 5.7. 1. 16 Jalen. 1. 8. 8. 0. 8 Kyle. 1. 5. 5. 0. 5

-0.06 To find the z score take the value for that observation (51) and subtract the mean ( 53.14 ) and then divide by the standard deviation ( 38.11).

Complete the frequency table below and enter the relative frequency of "Mazda." Do not round anything and enter your answer to at least 4 decimal places; the standard for the class will be four decimal places. Hint: your answer should be less than 1. MAKE FREQ RELFREQ %RELFREQ Nissan. 48. 0.153846. 15.3846% Honda. 111 Toyota. 97 Mazda. 56

.1795 You take the frequency for Mazda and divide it by the total number so that you have 56/312=.179487179.

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the minimum for points?

0 Use the "Minimum" entry when using the descriptive statistics option.

Use the data set which shows student grades and the number of homeworks they missed. You can use the pivot table feature in Excel to make a crosstabulation or contingency table as a first step. What is the probability of drawing a student who got an "A" in the class and missed 2 or more homework assignments.

0.0051 There were 4 out of 782 that got an A and missed 2 or more homework assignments. 0.00511508951

Consider the table below. What is the probability that a student (randomly drawn) is a resident graduate student? GRADSTU. UNDERG. T res. 7 147 154 nonres 19 32 51 T 26 179 205

0.0341 Take 7/205 to get the answer.

Consider the table below. What is the probability that a person (randomly drawn) is a female who purchases "never"? Answer to four decimal places. M. F. T often 7. 20. 27 sometimes 13. 14. 27 never 11. 3. 14 T 31. 37. 68

0.0441 3/68. 0.044117647

Consider the table below taken from a sample of legislators. What is the probability that a legislator (randomly drawn) is a republican and against the trade agreement? REPUBLIC DEMOCRAT T forTrade. 22 11 33 noTrade 8 32 40 T 30 43 73

0.1096 Take 8/73 to get the answer.

Consider the table below taken from a sample of legislators. What is the probability that a legislator (randomly drawn) is a republican and against the trade agreement? REPUBLIC DEMOCRAT T forTrade. 22 11 33 noTrade 8 32 40 T 30 43 73

0.1096 Take 8/73 to get the answer. 0.109589041

Below is a table constructed using a subset of data from an ECN221 class. What is the probability that an observation in this data set is from an accountancy major? previous stats class Major NO YES T acounta. 20 16 36 manag 18 15 33 other bus. 138 71 209 T 176 102 278

0.1295 Below is a table constructed using a subset of data from an ECN221 class. What is the probability that an observation in this data set is from an accountancy major?

Use the data set which shows student grades on exam 2 and scores on exam 3. You can use the pivot table feature in excel to make a crosstabulation or contingency table as a first step. What is the probability of drawing a student who got an "A" on exam 2.

0.1448 109 As out of 753 gives the answer. 0.144754316

Consider the table below. What is the probability that a student (randomly drawn) is a non-resident undergraduate? GRADSTU. UNDERG. T res. 7 147 154 nonres 19 32 51 T 26 179 205

0.1561 Take 32/205 to get the answer.

Use the data set which shows student grades on exam 2 and scores on exam 3. You can use the pivot table feature in excel to make a crosstabulation or contingency table as a first step. What is the probability of drawing a student who got an "A" on exam 2 or exam 3.

0.2138 (109 + 82 - 30) As out of 753 gives the answer. The answer is 0.213811421.

Consider the table below. What is the probability that a student (randomly drawn) is a non-resident? GRADSTU. UNDERG. T res. 7 147 154 nonres 19 32 51 T 26 179 205

0.2488 Take 51/205 to get the answer

Suppose that the probability of a customer making a purchase is .143. Suppose that the probability of a customer having seen an advertisement given that they made a purchase is .667. Lastly, suppose that the probability of a customer having seen an advertisement given that they did not make a purchase is .333. What is the probability that a customer makes a purchase given that they answer the advertisement?

0.2495 and 0.2515 Use Bayes' Theorem. (.143)(.667)/( (.143)(.667)+(.857)(.333)).

Consider the table below. What is the probability that a student (randomly drawn) is a graduate student or a non-resident? GRADSTU. UNDERG. T res. 7 147 154 nonres 19 32 51 T 26 179 205

0.2829 Take (26+51-19)/205 to get the answer.

Below is a table constructed using a subset of data from an ECN221 class. What is the probability that a non-management major in this data set previously took a statistics class? previous stats class Major NO YES T acounta. 20 16 36 manag 18 15 33 other bus. 138 71 209 T 176 102 278

0.3551 Exclude management majors from the analysis and get (16+71)/(36+209)=.3551.

Use the data set which shows student grades and the number of homeworks they missed. You can use the pivot table feature in Excel to make a crosstabulation or contingency table as a first step. What is the probability of drawing a student who got a "C" in the class.

0.3657 Divide the number of Cs by the total number of grades 0.3657289

Below is a table constructed using a subset of data from an ECN221 class. What is the probability that a student in this data set previously took a statistics class? previous stats class Major NO YES T acounta. 20 16 36 manag 18 15 33 other bus. 138 71 209 T 176 102 278

0.3669 102/278=.3669.

Suppose that the probability of a customer making a purchase is .217. Suppose that the probability of a customer having seen an advertisement given that they made a purchase is .8. Lastly, suppose that the probability of a customer having seen an advertisement given that they did not make a purchase is .333. What is the probability that a customer makes a purchase given that they answer the advertisement? Answer to four decimal places.

0.3997 Use Bayes' Theorem. (.217)(.8)/( (.217)(.8)+(.783)(.333)). 0.399687801

Consider the table below taken from a sample of legislators. What is the probability that a legislator (randomly drawn) is a republican? REPUBLIC DEMOCRAT T forTrade. 22 11 33 noTrade 8 32 40 T 30 43 73

0.411 Take 30/73 to get the answer. 0.410958904

Below is a table constructed using a subset of data from an ECN221 class. What is the probability that a management major in this data set previously took a statistics class? previous stats class Major NO YES T acounta. 20 16 36 manag 18 15 33 other bus. 138 71 209 T 176 102 278

0.4545 Because the question asks about management majors we only focus on the management row. We get 15/33=.454545.

Suppose that the probability of getting a job offer (from a specific company) is .45. Suppose that we observe empirically that given that an applicant for the job was in fact offered a job, the probability of an on campus interview was .65. Also, we observe empirically that given the group that were not offered a job the probability of an on campus interview was of .4. Given that a person got a campus interview, what is the probability that they get a job offer? (Answer to four decimal places).

0.5707 Use Bayes' Theorem. (.45)(.65)/( (.45)(.65)+(.55)(.4)).

Suppose that a customer can either make a purchase or not make a purchase and the probability that they make a purchase is .42. What is the probability that the customer does not make a purchase?

0.58 Probabilities will sum to 1 so use 1-.42.

Suppose that the probability that a customer plans to make a purchase is 0.28. Suppose that the probability of responding to an advertisement given that the customer plans to make a purchase is 0.66 and that the probability of responding to an advertisement given that a person does not plan to make a purchase is 0.16. Given that a person responds to the advertisement, what is the probability that they plan to make a purchase?

0.616 You need to apply Bayes Rule to solve this problem. Double check the formula against the correct answer

Suppose that the probability of having a particular disease is 0.07. Suppose that the probability of testing positive for the disease is 0.96 given that a person has the disease and 0.04 given that the person does not have the disease. Given that a person tests positive for the disease, what is the probability that they actually have the disease? (Answer to four decimal places).

0.6437 You need to apply Bayes Rule to solve this problem. Double check the formula against the correct answer

Consider the table below. What is the probability that a student (randomly drawn) is a resident? GRADSTU. UNDERG. T res. 7 147 154 nonres 19 32 51 T 26 179 205

0.7512 Take 154/205 to get the answer 0.751219512

Below is a table constructed using a subset of data from an ECN221 class. What is the probability that an observation in this data set is from an "Other: business" major? previous stats class Major NO YES T acounta. 20 16 36 manag 18 15 33 other bus. 138 71 209 T 176 102 278

0.7518 209/278=.75179. Note this is just the number of "Other: business" majors divided by the total number of students.

Suppose that the probability of getting a job offer (from a specific company) is 0.17. Suppose that we observe empirically that given that an applicant for the job was in fact offered a job, the probability of an on campus interview was 0.93. Also, we observe empirically that given the group that were not offered a job the probability of an on campus interview was of 0.06. Given that a person got a campus interview, what is the probability that they get a job offer?

0.7605 You need to apply Bayes Rule to solve this problem. Double check the formula against the correct answer.

Consider the table below. What is the probability that a student (randomly drawn) is a resident given that they are an undergraduate? Answer to four decimal places. GRADSTU. UNDERG. T res. 7 147 154 nonres 19 32 51 T 26 179 205

0.8212 P(resident and undergrad)/P(undergraduate)= (147/205)/(179/205).

Consider the table below. What is the probability that a student (randomly drawn) is an undergraduate? GRADSTU. UNDERG. T res. 7 147 154 nonres 19 32 51 T 26 179 205

0.8732 Take 179/205 to get the answer; the number of undergraduates out of the total number of students.

The sum of the probabilities for all experimental outcomes is equal to what? (Choose a number).

1

Use the Pelican Stores data set. How many observations are in this data set? Note: The data set contains the records of a sample of transactions made at a Pelican Stores outlet. The variables are as described by their names where type of customer being regular means they did not get a coupon and promotional means they did get a coupon. Items is the number of items purchased and net sales is the $ total of the transaction.

100 number of rows not counting headers

Use the Pelican Stores data set. Construct a frequency table for the method of payment. How many customers pay using MasterCard?

14 You can use the pivot table feature in Excel to make a frequency table. The table will show you that there are 14 customers that used MasterCard.

The number of combinations possible is sometimes used as a step towards determining probabilities. Use this problem to practice finding combinations. A product developer for a cereal company works with almonds, walnuts, cashews, flax seeds, raisins, dried cranberries, dates, dried apples, cinnamon, and vanilla. How many different combinations can he create that use exactly 4 of those ingredients.

210

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. How many observations are in the data set?

251 You could count them or this also shows up in the "count" entry when using the descriptive statistics option.

Complete the cumulative frequency table below and enter the cumulative frequency of "Mazda." Do not round anything and enter your answer to at least 4 decimal places (this is a little silly since your answer should be an integer). MAKE FREQ CUMFREQ %CUMFREQ Honda. 111. Toyota. 97 Mazda. 56 Nissan. 48

264 You find 111+97+56=264.

A survey resulted in the following cross tabulation (contingency table) showing people's view of the economy and their education level. What percentage of people with "education level" of college graduate have a negative view of the economy? Caution: enter a number without a % symbol. For example enter 1.2% as 1.2 or 25% as 25. Answer to four decimal places which will be the standard in this class. VofEcon HS. CGRAD. GRADDEG. T Positive. 44. 25 10 79 Negative. 39 10 2 51 T 83 35 12. 130

28.5714 Take 10/35=.285714 and convert this to a percentage.

I am making a homework assignment with 15 questions. I have a pool of 25 questions to start with. How many different homework assignments could I make?

3,268,760 It's a big number. Use the N choose r or N choose k formula.

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of the cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the z-score for points for Kevin Durant? Kevin Durant scored more points than any other player that season. Round up to 2 decimal places.

3.95 The formula for the z-score is (value of the observations - mean)/(standard deviation). To this formula you plug in the values found in your analysis and Durant's value for points.

What is the mean of the following data? (Answer to four decimal places for all questions involving numerical answers). 24.8 32.9 44.2

33.967

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the mean salary? Do not include a dollar sign.

4,639,734 You could average function or this also shows up in the "Mean" entry when using the descriptive statistics option. Or use = average(datarange)

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. How many observations are in the data set?

422

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the median for points? Use the calculation provided by Excel's descriptive statistics feature.

449.5 Use the "Median" entry when using the descriptive statistics option.

Here is part of the box score from ASU's 2016 football game against UA. Calculate the average (sample mean) for YDS. Round up to 2 decimal places. play. REC YDS AVG. TD. LONG Fred. 12. 116. 9.7. 1. 22 Tim. 4. 69. 17.3. 1. 33 Kalen. 10. 64. 6.4. 0. 15 Demar. 6. 59. 9.8. 0. 26 N'keal. 9. 51. 5.7. 1. 16 Jalen. 1. 8. 8. 0. 8 Kyle. 1. 5. 5. 0. 5

53.14

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of the cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the mean for points? Round to 2 decimal places.

544.46 Use the "Mean" entry when using the descriptive statistics option.

Use the Pelican Stores data set. How many variables are in this data set?

7 The variables are Type of Customer Items Net Sales Method of Payment Gender Marital Status Age The column labeled "Customer" is not a variable but rather the element or observation name but it is not a characteristic of the element.

Use the Pelican Stores data set. Construct a frequency table for the method of payment. How many customers pay using the proprietary card?

70 You can use the pivot table feature in Excel to make a frequency table. The table will show you that there are 70 customers that used the proprietary card.

What is the mean of the following data? (Answer to five decimal places for all questions involving numerical answers). 1.3 10.3 15.1

8.9

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of the cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the coefficient of variation for points? Do not include a percent sign and round up to 2 decimal places. Your answer should be greater than 1.

89.63 The coefficient of variation is the standard deviation divided by the mean and then that value is multiplied by 100%.

After an exam a teacher records the scores of every student. Which of the following best describes the data set with students scores from the exam? Always time series Always cross sectional Always cross sectional or time series never both Always cross sectional or time series or both

Always cross sectional Because we have scores from different students and the scores are all taken at the same time this is always a cross section.

Suppose you work for a company and you manage 8 products for the company. You are going to make a presentation to your boss and you want to show the sales levels for these products for the previous year. You might do this with a Scatter plot. Stem and leaf display. Histogram. Ogive. Bar chart

Bar chart

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of the cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the correlation between salary and points? Use 5 decimal places.

Between 0.54657 and 0.54857 After selecting Data Analysis in excel choose the "Correlation" menu option.

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. According to Excel what is the median salary? Do not include a dollar sign.

Between 2,908,059 and 2,908,061 Use the "Median" entry when using the descriptive statistics option.

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the maximum salary? Do not include a dollar sign.

Between 23,034,374 and 23,034,376 Use the "Maximum" entry when using the descriptive statistics option.

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the standard deviation of salary? Do not include a dollar sign.

Between 4,745,257.852 and 4,745,258.052 Use the "Standard Deviation" entry when using the descriptive statistics option.

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. In this problem you are interested in finding the interquartile range. This can be used in making a boxplot, determining spread or variability, and try to identify outliers. There are different methods for finding quartiles. Use the "quartile.exc" function in Excel for this problem. WARNING: other methods may give you different answers so use this method so that you get exactly the same answer as I am using. What is the interquartile range for salaries? Do not include a dollar sign.

Between 5,419,879 and 5,419,881 Within Excel you should have used something like the following: "=QUARTILE.EXC(C2:C423,3)-QUARTILE.EXC(C2:C423,1)".

Bar charts are a useful way to display Cross sectional data. Categorical data. Quantitative data. Time series data.

Categorical data.

Which of the following is an example of a time series? Every day of December the price of unleaded gasoline is recorded at a specific gasoline station. On December 1st the price of unleaded gasoline is recorded at all gasoline stations in a specific zip code

Every day of December the price of unleaded gasoline is recorded at a specific gasoline station.

Which of the following is an example of a time series? Every day of February the price of copper on the Chicago Mercantile Exchange is recorded. On February 14th the price of copper is recorded from 20 different scrap metal dealers in Southern California.

Every day of February the price of copper on the Chicago Mercantile Exchange is recorded.

Data must be summarized numerically.

False

Joint probability and marginal probability are the same thing.

False

The conditional probability of an event is always greater than the unconditional probability.

False

The conditional probability of an event is always less than the unconditional probability.

False

The conditional probability of A given B is the probability of the union of A and B divided by the intersection of A and B.

False It is the intersection divided by the probability of B alone.

Look at the Pelican Stores data set. Note: The data set contains the records of a sample of transactions made at a Pelican Stores outlet. The variables are as described by their names where type of customer being regular means they did not get a coupon and promotional means they did get a coupon. Items is the number of items purchased and net sales it the $ total of the transaction. True or false: the data set contains the entire population of of transactions at Pelican stores.

False The data set only contains a sample. The population of transactions is much larger.

Suppose customers have many different characteristics. Suppose these include PoT (pays on time), BR (buys regularly) and MA (has multiple accounts). True or False: P(PoT ∩ BR ∩ MA) is the same as P(PoT)+P(BR)+P(MA).

False The probability of the intersection has a different formula and cannot be calculated directly from the marginal probabilities.

Use the Pelican Stores data. True or False: the items variable is categorical.

False The statement is false. Items shows how many so it is quantitative.

All data must be quantitative.

False either quantitative or categorical

ZIP Code is an example of a quantitative variable.

False ZIP Code is categorical. It does not show how much or how many.

Which of the following is an example of a cross sectional data set? In 1990 the number of new businesses is recorded for all 50 states. In New Jersey, the number of new businesses is recorded for each year from 2000 to 2020.

In 1990 the number of new businesses is recorded for all 50 states.

Which of the following is an example of a cross sectional data set? In 1990 the percentage of Democrats is recorded for all 50 states. In California, the percentage of Republicans is recorded for each year from 1980 to 1999.

In 1990 the percentage of Democrats is recorded for all 50 states.

Which of the following is an example of a cross sectional data set? In July the average price of a house is recorded for every county in Arizona. Each month of the year the average price of houses in Tempe, AZ, is recorded.

In July the average price of a house is recorded for every county in Arizona.

Use the NBA salaries data to find the correlation between points and salaries. Select the best interpretation for the correlation between points and salaries using the data. NBA salaries data set is here. For every additional unit of salary that the player makes above the average, he scores approximately .5 additional points above the average. In this case let's agree that approximately means +/- 0.1. There is no clear relationship between salaries and points. In general players that make more money also score more points. If a player makes more than the average salary then he also scores more than the average number of points and if he makes less than the average salary then he scores fewer than the average number of points.

In general players that make more money also score more points. Even though the correlation is approximately .5 this does not tell us how changes in the one variable relate to changes in the other variable other to show that the relationship is clearly positive. More of one typically means more than the other. However, it is not true that every observation that is above average for one variable must be above average for the other variable and you can look at Cuttino Mobley as an example. (Some players such as Mobley did not actually play but still received a salary).

Use the Pelican Stores data set. Customers listed as "Promotional" are customers that used a discount coupon which was mailed to them. Use your critical thinking skills to determine the best way to analyze the data and choose the best statement. It appears that the promotional program worked to increase net sales as evidenced by the fact that net sales per promotional customer were higher than net sales per regular customer. It appears that the promotional program hurt sales since the net sales went down under the promotional program. It appears that the promotional program worked to increase net sales as evidenced by the fact that net sales for promotional customers were predominantly made using non proprietary cards. It appears that the promotional program did not work since more total items were sold to regular customers.

It appears that the promotional program worked to increase net sales as evidenced by the fact that net sales per promotional customer were higher than net sales per regular customer. Promotional customers spent an average of around $84 while regular customers spend an average of about $62. It appears that the promotion was successful in increasing sales.

Use the Pelican Stores data set. Construct a histogram of age using 8 groups with age ranges from 18 to 80. Choose the best statement. The distribution of ages appears to be even across the age range. It appears to that the majority of customers are under 50. The distribution appears to look like an inverted bell with few customers being middle aged and most of the customers being either young or old. It appears that the distribution is approximately bell shaped, i.e. the histogram has the basic shape of a bell.

It appears to that the majority of customers are under 50. If you used Excel to make your histogram and had 8 groups then it should be clear that the majority of customers are under age 50.

Use the Pelican Stores data set. Construct a histogram of net sales using 10 groups. Choose the best statement. The distribution appears to be left skew with very few sales of low dollar amounts and most of the sales being for higher dollar amounts. It appears that the distribution is approximately bell shaped, i.e. the histogram has the basic shape of a bell. The distribution of sales appears to be even across dollar values. It appears to that the majority of sales are for less than $75 and beyond that as the net sales amount increases the frequency tends to decrease.

It appears to that the majority of sales are for less than $75 and beyond that as the net sales amount increases the frequency tends to decrease. If you used Excel to make your histogram and had ten groups then it should be clear that the majority of sales are at less than $75 and that the histogram has generally decreasing frequency as the net sales groups get larger after that.

Use the stock prices data and tools that you have learned to find the best answer. Someone asserts that "Dunkin Donuts has a higher stock price than Starbucks every day of the year and the maximum for Starbucks is only about 25 cents more than the minimum for Dunkin Donuts. If you ignore dividends then Dunkin Donuts is the better stock to buy." Coffee and donut stock prices data set is here. Because risk is also a factor and Starbucks has a smaller standard deviation its has a lower probability (or chance) of realizing a large gain and this makes it a worse stock. Because risk is also a factor and Starbuck's has a larger standard deviation its greater riskiness makes it a worse stock. The statement that Dunkin Donuts is a better buy is true but the reason has more to do with its higher median than any of the other measures mentioned. Means, minimums and maximums are all static and do not tell us about trends. It could be relevant to think about trends in prices in this case. The statement is true, beyond comparing means when comparing minimums and maximums we have a clearer picture about which stock is better.

Means, minimums and maximums are all static and do not tell us about trends. It could be relevant to think about trends in prices in this case. From an economics standpoint the prices should include all the necessary information about the stocks but from a statistical standpoint min, mean and max are static values and we have a time series data set which means that observing trends could be helpful in making forecasts.

Consult the graph below. We can determine that 35 22 18 3 8 CA. NV. UT. AZ. NM (The y is retail stores) Most of the companies sales take place in California (CA). Arizona (AZ) has the most retail locations. Nevada (NV) has the fewest retail locations. The company has more than 100 retail outlets.

Nevada (NV) has the fewest retail locations.

Consult the graphical display. A company has multiple retail outlets in the city and they are open for different numbers of hours during the year. The graph below shows the number of hours that the locations are open during the year and their sales volumes. What can we determine based on this graph? 1000 700 650 600 400 410 3 3. 4,000 5,000. 6,000 7,000 8,000 (y=sales x=hours) For every pair of stores, the store that is open more hours has a higher volume of sales. There is no apparent relationship between hours of operation and sales. The company does not have enough stores to determine whether or not there might be a relationship between number of hours open and sales. On average stores that are open more hours have higher volumes of sales.

On average stores that are open more hours have higher volumes of sales. The little circles in the graph which represent the retail locations tend to be located roughly along an upward sloping line which suggests that on average stores that are open more hours have higher volumes of sales.

Critical Thinking Use the data set which shows student grades and the number of homework assignments missed. You can use the pivot table feature in excel to make a crosstabulation or contingency table as a first step. Choose the best statement below. Passing the class appears to be strongly and negatively related to the number of missed homeworks. The probability of not passing the class is fairly low for students that turn in all homework assignments, moderate for students that miss one assignment and quite large for students that miss more than two assignments. There appears to be only a weak relationship between the number of missed assignments and the grades. Missing a homework assignment is a strong predictor of not getting an exceeds expectations grade (A or B). For student that miss one homework assignment the probability of getting an A or B is extremely small. The conditional probability of missing at least one homework assignment given that a student got a C suggests that it is more likely than not that a student with a C missed at least one assignment and this is an indicator that missing a homework assignment or more increases a student's probability of getting a C.

Passing the class appears to be strongly and negatively related to the number of missed homeworks. The probability of not passing the class is fairly low for students that turn in all homework assignments, moderate for students that miss one assignment and quite large for students that miss more than two assignments. The conditional probability of not passing given that a student submitted all homework is about .07 and this changes to .15 when missing 1 homework and .26 when missing 2 and for missing more than 2 it is silly high. Students that don't do homework are at a dramatically higher risk of not passing. Of students that missed 1 assignment nearly 38% still exceeded expectations. A probability of .38 is not extremely small. For students that got a C the conditional probability of missing at least one homework is nearly the same as the marginal probability of getting a C with both being around .36 but also the answer related to this confuses the conditioning event.

Use the Pelican Stores data set. Construct a crosstabulation (aka contingency table) of marital status and gender. Choose the best statment. Pelican Stores customers are predominantly women but these are nearly evenly split between single and married people. Men make up about 35% of the store's customers. Pelican Stores customers are predominantly single women. Pelican Stores customers are predominantly married women.

Pelican Stores customers are predominantly married women. You can use the pivot table feature in Excel to create the crosstabulation or contingency table and it will show that 80 customers were married women and this is a substantial majority.

Histograms are a useful way to display Quantitative data. You Answered Categorical data. Time series data. Cross sectional data.

Quantitative Data

The graphical display shown here is a 1000 700 650 600 400 410 3 3. 4,000 5,000. 6,000 7,000 8,000 (y=sales x=hours) Scatter plot. Dot plot. Residual plot. Leverage plot.

Scatter plot.

Use the Pelican Stores data set. Construct a crosstabulation (aka contingency table) of marital status and method of payment. Choose the best statement. Most customers are married and pay with MasterCard or Visa. The majority of customers that pay with American Express or Discover are single. Single and married customers both use the proprietary card more than any other card. Married customers tend to pay with the proprietary card but single customers tend to pay with Visa or MasterCard.

Single and married customers both use the proprietary card more than any other card. You can use the pivot table feature in excel to create the crosstabulation or contingency table and it will show that 60 out of 84 married people use the proprietary card and 10 out of 16 single people use the proprietary card.

Which of the following uses the ratio measurement scale? The amount of money a firm spends on advertizing. The type of medium used for an advertisement. The product type shown in an advertisement.

The amount of money a firm spends on advertizing.

Which of the following uses the ratio measurement scale? The amount of wheat harvested by a farmer. The type of seed used by a farmer. The air temperatures at the time wheat is planted. The brand of tractor a farmer uses.

The amount of wheat harvested by a farmer Interval: the variable has values that are quantitative and so can be ranked but the interval between possible values has a fixed unit of measurement. Example, SAT scores use the interval scale. Ratio: in addition to the properties of interval data they also have the property that their ratio is meaningful.

Which of the following uses the nominal measurement scale? The city where a school is located. The number of weeks a school is in session. The number of students at a school. The level of education of the school president.

The city where a school is located.

Which of the following uses the nominal measurement scale? The country where a store is located The number of hours a store is open The number of employees at the store The level of education of the store manager

The country where a store is located Nominal: the variable has values that are names indicating a characteristic of the element.

Use the NBA salary and points data. Use tools that you have learned to find the best answer concerning whether the salaries appear to follow the empirical rule. Choose the best option below. NBA salaries data set is here. The salaries do appear to follow the empirical rule. The mean and the standard deviation are close together and so the empirical rule will not apply. The mean and the median are approximately the same and this is consistent with the empirical rule. The data do not have a bell shaped distribution therefore the empirical rule will not apply.

The data do not have a bell shaped distribution therefore the empirical rule will not apply. The empirical rule applies when the data have an approximately bell-shaped distribution. Constructing a histogram of the data shows that the distribution is not bell shaped.

Use the stock prices data and tools that you have learned to find the best answer concerning whether Starbucks' share prices appear to follow the empirical rule. Choose the best option below. Coffee and donut stock prices data set is here. The mean and the standard deviation are close together and so the empirical rule will not apply. The data do not have a bell shaped distribution therefore the empirical rule will not apply. The prices do appear to follow the empirical rule. The mean and the median are approximately the same and this is consistent with the empirical rule.

The data do not have a bell shaped distribution therefore the empirical rule will not apply. The empirical rule applies when the data have an approximately bell-shaped distribution. Constructing a histogram of the data shows that the distribution is not bell shaped.

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in excel to help you find the correct answers. Find the correlation between the price of Dunkin Donut's shares and the price of Starbucks' shares. Select the best interpretation for the correlation between the stock prices. Coffee and donut stock prices data set is here. The two stocks appear to move in the same direction. As the economy does well so do both of the stocks. The two prices appear to be moving in opposite directions. There appears to be no relationship between the prices. The two stocks appear to move in the same direction. But we cannot tell how this is related to the economy without more data.

The two prices appear to be moving in opposite directions. The two prices appear to be moving in opposite directions during the year with Starbuck's price rising and Dunkin Donut's price falling.

Use the Pelican Stores data set. Construct a scatter plot of items versus net sales. Choose the best statement. Hint: creating a scatter plot may be easier if you first copy the data to a new sheet and delete the columns you aren't using for the plot. The example in your textbook only involves two variables and this makes it easier for Excel to guess what you want to do. There appears to be a positive relationship between items and net sales. There appears to be a negative no relationship between items and net sales. There appears to be little or no relationship between items and net sales. There appears to be "j" shaped relationship between items and net sales with net sales initially decreasing but the increasing sharply with items.

There appears to be a positive relationship between items and net sales. The scatter plot shows a positive relationship between items and net sales. You can include a trendline and see that it is upward sloping.

Use the Pelican Stores data set. Construct a scatter plot of age versus net sales. Choose the best statement. Hint: creating a scatter plot may be easier if you first copy the data to a new sheet and delete the columns you aren't using for the plot. The example in your textbook only involves two variables and this makes it easier for Excel to guess what you want to do. It appears that young customers spend the most (largest net sales) and that sales decrease significantly with each year of age. It appears that young customers spend the least (smallest net sales) and that sales increase significantly with each year of age. =It appears that net sales are the highest for customers between ages 40 and 50 and that they decrease noticeably as customers age past 50 or are younger than 40. There appears to be little or no relationship between age and net sales.

There appears to be little or no relationship between age and net sales.

Use the Pelican Stores data set. Customers listed as "Promotional" are customers that used a discount coupon which was mailed to them. Use your critical thinking skills to determine the best way to analyze the data and choose the best statement. There are more single promotional women than there are single regular women but there are more single regular men than there are single promotional men. However, because we don't know to whom the coupons were mailed we cannot draw confident conclusions about how well the promotion worked for single men versus single women. There are fewer single promotional women than there are single regular women but there are fewer single regular men than there are single promotional men. This suggests the promotional program works better on single men than on single women. There are fewer single women that used the promotion (coupon) than there are married women that used the promotion (coupon). This indicates that the promotion does not work as well for single women and they should not be targeted with promotional offers.

There are more single promotional women than there are single regular women but there are more single regular men than there are single promotional men. However, because we don't know to whom the coupons were mailed we cannot draw confident conclusions about how well the promotion worked for single men versus single women.

Consult the graph below. We can determine that 35 22 18 3 8 CA. NV. UT. AZ. NM There are more than 30 retail locations in California. The company has fewer than 50 retail outlets. New Mexico (NM) has the most retail locations. The company has fewer employees in Nevada (NV) than it does in Utah (UT).

There are more than 30 retail locations in California.

Which of the following best describes Starbucks' stock price data? These data are always time series data. These data are always cross sectional data. These data are always time series or cross sectional data but never both. These data can be time series data or cross sectional data or both.

These data are always time series data. Because we have one company's stock and it is listed on one exchange there can only be one value at any given point in time so we cannot have a cross section. However, we do have the price listed at various points in time which makes it a time series.

A data set consists of all businesses in Peoria that have a website link from Google maps. The variables in the data set are the number of years in business, whether or not the business has a Facebook page, the number of Facebook "likes" and the number of customers they have in the week where all data were collected the first week of October. True or False: The data in this data set constitute a cross section, i.e., they are cross sectional data.

True

A data set consists of all businesses in Tempe that accept Discover Card branded credit cards. The variables in the data set are the total amount of purchases using Discover Card credit cards and how many purchases were made using the card and all the data are for the year 2008. True or False: The data in this data set constitute a cross section, i.e., they are cross sectional data.

True

A data set consists of the number of accounts opened each month from January 2000 to December 2012. True or False: The data in this data set are time series data

True

A data set consists of the number of new stores opened each year, internationally, for the years 1995 through 2015. That is, there are 21 observations, one for each of the years and the variable reported is the number of new stores. True or False: The data in this data set are time series data.

True

A sample is a subset of the population.

True

Data can be used to help make pricing decisions.

True

Data can be used to help make product design decisions.

True

Intersection implies an and condition. For example, a member of the intersection of sets A and B is any member of sets A and B.

True

Statistics, the discipline, involves displaying data.

True

Union implies an or condition. That is, a member of the union of sets A and B is any member of set A or set B or a member of both A and B.

True

Number of children is an example of a quantitative variable.

True The answer is true. The number of children shows how many children there are.

Statistics, the discipline, involves analyzing data

True The discipline of statistics deals with the collecti

Calculate the z-score for Kevin Durant's points and the interquartile range (IQR) for salaries. Choose the best option below. NBA salaries data set is here. Using the z-score method for detecting outliers Durant is not an outlier for points and when using the IQR method for detecting outliers he is not an outlier for salary. Using the z-score method for detecting outliers Durant is not an outlier for points and when using the IQR method for detecting outliers he is an outlier for salary. Using the z-score method for detecting outliers Durant is an outlier for points and when using the IQR method for detecting outliers he is not an outlier for salary. Using the z-score method for detecting outliers Durant is an outlier for points and when using the IQR method for detecting outliers he is an outlier for salary.

Using the z-score method for detecting outliers Durant is an outlier for points and when using the IQR method for detecting outliers he is not an outlier for salary. With a z-score of over 3 the value for points is an outlier while for the salary it is between Q2 and Q3 (the second and third quartiles) so it is not an outlier.

Calculate the z-scores for the prices and the interquartile range (IQR) for prices, both for Dunkin Donuts. Using the stock price for Dunkin Donuts on December 31, 2014, choose the best option below. Coffee and donut stock prices data set is here. Using the z-score method for detecting outliers the price is not an outlier and when using the IQR method for detecting outliers it is an outlier for prices for Dunkin Donuts. Using the z-score method for detecting outliers the price is an outlier and when using the IQR method for detecting outliers it is an outlier. Using the z-score method for detecting outliers the price is not an outlier and when using the IQR method for detecting outliers it is not an outlier. Using the z-score method for detecting outliers the price is an outlier and when using the IQR method for detecting outliers it is not an outlier.

Using the z-score method for detecting outliers the price is not an outlier and when using the IQR method for detecting outliers it is not an outlier. With a z-score of -1.47 the value for the price is not an outlier and since the Q1 for price is 44.38 the price of 42.65 is less than one interquartile range below Q1 (the first quartile) and so it is not an outlier.

If you have two variables such as the customer's rating of a product's quality (high, medium, or low) and their rating of its price relative to the prices of alternative products (above, about the same, lower) you might display these using a bar chart. a cross tabulation table (aka contingency table). a scatter plot. a distribution chart.

a cross tabulation table (aka contingency table).

Categorical data can be graphically represented by using a(n) bar chart. scatter plot. box plot. K-chart

bar chart.

A histogram is useful for being able to look at the distribution of the data. calculating the average and the standard deviation. observing relative frequencies of categorical data. observing relationships among variables.

being able to look at the distribution of the data.

A histogram is useful for calculating the average and the standard deviation. observing relative frequencies of categorical data. observing relationships among variables. being able to look at the distribution of the data.

being able to look at the distribution of the data.

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. What is the correlation between the price of Dunkin Donut's shares and the price of Starbucks' shares?

between -0.28087 and -0.27887 After selecting Data Analysis in excel choose the "Correlation" menu option.

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. What is the z-score for a Dunkin Donut's share price of 42.65 dollars?

between -1.46987 and -1.46787 The formula for the z-score is (value of the observations - mean)/(standard deviation). To this formula you plug in the values found in your analysis and 42.65 for the observation value.

Complete the frequency table below and enter the relative frequency of "Toyota." Do not round anything and enter your answer to at least 4 decimal places; the standard for the class will be four decimal places. Hint: your answer should be less than 1. MAKE FREQ RELFREQ %RELFREQ Nissan. 48. 0.153846. 15.3846% Honda. 111 Toyota. 97 Mazda. 56

between 0.308897436 and 0.312897436 You take the frequency for Toyota and divide it by the total number so that you have 97/312=.310897436.

Here is part of the box score from ASU's 2016 football game against UA. Calculate the z score for N'Keal Harry for REC. play. REC YDS AVG. TD. LONG Fred. 12. 116. 9.7. 1. 22 Tim. 4. 69. 17.3. 1. 33 Kalen. 10. 64. 6.4. 0. 15 Demar. 6. 59. 9.8. 0. 26 N'keal. 9. 51. 5.7. 1. 16 Jalen. 1. 8. 8. 0. 8 Kyle. 1. 5. 5. 0. 5

between 0.64302 and 0.66302 To find the z score take the value for that observation (9) and subtract the mean (6.14285714 ) and then divide by the standard deviation (4.475255095).

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. What is the standard deviation for the price of Starbucks' shares?

between 1.64549 and 1.66549 Use the "Standard Deviation" entry when using the descriptive statistics option.

Companies are sometimes interested in their costs and output and relating the two. The data set here has one part of cost for a professional sports league, the players' salaries, and one measure of their output, their points scored. The data are for the NBA for the 2009-2010 season. Use the Data Analysis feature in Excel to help you find the correct answers. What is the range of salaries? Do not include a dollar sign.

between 23,031,682 and 23,031,684 You could take the maximum and subtract the minimum or this also shows up in the "Range" entry when using the descriptive statistics option.

Consult the table below. What percentage of students are resident CLAS students? Do not include a % sign in your answer but make sure your answer is greater than 1. Answer to at least 4 decimal places and do not round at any intermediate steps. COLLEGE. RES. NONRES CLAS. 34 55 WP CAREY 16 12

between 29.039829 and 29.079829

In this problem you are interested in finding the interquartile range. This can be used in making a boxplot, determining spread or variability, and try to identify outliers. There are different methods for finding quartiles. Use the "quartile.exc" function in Excel for this problem. WARNING: other methods may give you different answers so use this method so that you get exactly the same answer as I am using. What is the interquartile range for price for Dunkin Donuts? Do not include a dollar sign.

between 3.15 and 3.17 You could type the following into your spreadsheet to get the answer "=QUARTILE.EXC(C2:C252,3)-QUARTILE.EXC(C2:C252,1)".

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. According to Excel what is the median price for Starbucks' shares?

between 37.66 and 37.68 Use the "Median" entry when using the descriptive statistics option.

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. What is the mean of prices for Starbucks' shares?

between 37.75925 and 37.77925 You could average function or this also shows up in the "Mean" entry when using the descriptive statistics option.

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. What is the minimum for the price of Dunkin Donut's shares?

between 41.66 and 41.68 Use the "Minimum" entry when using the descriptive statistics option.

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. What is the maximum price for Starbucks' shares?

between 41.89 and 41.91 Use the "Maximum" entry when using the descriptive statistics option.

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in excel to help you find the correct answers. What is the median for the price of Dunkin Donut's shares?

between 45.9 and 46.1 Use the "Median" entry when using the descriptive statistics option.

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. What is the mean for the price of Dunkin Donut's shares?

between 46.24302 and 46.44302 Use the "Mean" entry when using the descriptive statistics option.

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. What is the coefficient of variation for the price of Dunkin Donut's shares? Don't include the percent sign and your answer should be greater than 1.

between 5.4242 and 5.4262 The coefficient of variation is the standard deviation divided by the mean and then that value is multiplied by 100%

A survey resulted in the following cross tabulation (contingency table) showing people's view of the economy and their education level. What percentage of people with "education level" of high school have a positive view of the economy? Caution: enter a number without a % symbol. For example enter 1.2% as 1.2 or 25% as 25. Answer to four decimal places which will be the standard in this class. VofEcon HS. CGRAD. GRADDEG. T Positive. 44. 25 10 79 Negative. 39 10 2 51 T 83 35 12. 130

between 52.9 and 53.1 Take 44/83=.53012048 and convert this to a percentage.

Consult the table below. What percentage of W. P. Carey students are resident students? Do not include a % sign in your answer but make sure your answer is greater than 1. Answer to 4 decimal places and do not round at any intermediate steps. COLLEGE. RES. NONRES CLAS. 34 55 WP CAREY 16 12

between 57.1228 and 57.1629 You find this by taking 16/28=.571428571 and then converting that to a percentage.

Consult the table below. What percentage of W. P. Carey students are resident students? Do not include a % sign in your answer but make sure your answer is greater than 1. Answer to at least 4 decimal places and do not round at any intermediate steps. COLLEGE. RES. NONRES CLAS. 34 55 WP CAREY 16 12

between 57.1229 and 57.1629 You find this by taking 16/28=.571428571 and then converting that to a percentage.

Here is part of the box score from ASU's 2016 football game against UA. Calculate the average (sample mean) for REC. play. REC YDS AVG. TD. LONG Fred. 12. 116. 9.7. 1. 22 Tim. 4. 69. 17.3. 1. 33 Kalen. 10. 64. 6.4. 0. 15 Demar. 6. 59. 9.8. 0. 26 N'keal. 9. 51. 5.7. 1. 16 Jalen. 1. 8. 8. 0. 8 Kyle. 1. 5. 5. 0. 5

between 6.12286 and 6.16286

Stock prices reflect the value of a company and corporate executives are often concerned about their company's share price. The data set here share prices for the stocks of two companies for trading dates in 2014. The companies are Starbucks and Dunkin Donuts. Use the Data Analysis feature in Excel to help you find the correct answers. What is the range of prices for Starbucks' shares? Do not use dollar signs for any of the answers. Remember that answers should go out to 4 decimal places when necessary.

between 7.525 and 7.545 You could take the maximum and subtract the minimum or this also shows up in the "Range" entry when using the descriptive statistics option.

Complete the cumulative frequency table below and enter the percent cumulative frequency of "Mazda." Do not round anything and enter your answer to at least 4 decimal places. Do not use a % sign in your answer and make sure your answer is greater than 1. MAKE FREQ CUMFREQ %CUMFREQ Honda. 111. Toyota. 97 Mazda. 56. 264 Nissan. 48

between 84.5954 and 84.6354 You find 264/312 and convert to a percentage. 264 is the cum freq of Mazda

Complete the cumulative frequency table below and enter the percent cumulative frequency of "Gold." Do not round anything and enter your answer to at least 4 decimal places. Do not use a % sign in your answer and make sure your answer is greater than 1. level FREQ. CUMFREQ %CUMFREQ copp 20 silv. 30 gold. 16 plati. 7

between 90.39095 and 90.43095 You find 66/73 and convert to a percentage.

Suppose you want to compare the performance of your business at different locations throughout the state. The type of data that will be most suitable for this comparison are time series cross sectional inferential categorical

cross sectional Cross sectional data help us to compare different units at the same point in time.

You are working with data showing how much time people spend on your company's website each day. You are making a presentation to some upper level managers and want to show more than just the average because you want to give them a sense of the distribution of time spent. You might (appropriately) decide to create a cross tabulation table or contingency table. bar chart. scatter plot. histogram

histogram

You are working with data showing how much money customers have in their checking accounts. You are making a presentation to some upper level managers at the bank and want to show more than just the average because you want to give them a sense of the distribution of amounts in the checking accounts. You might (appropriately) decide to create a bar chart. histogram. scatter plot. cross tabulation table or contingency table.

histogram.

The probability of the intersection of two mutually exclusive events can be any value between 0 to 1 must always be equal to 1 must always be equal to 0 can be any positive value

must always be equal to 0

Categorical data can be graphically represented by using a(n) pie chart. K-chart. scatter plot. box plot.

pie chart.

Use the NBA salaries data to find the correlation between points and salaries. In this scenario, the dependent variable (Y) is [ Select ] and the independent variable is [ Select ] . The association between these two variables is [ Select ] . (Make a scatterplot in Excel to answer this last question).

salary points scored Linear-positive The dependent salary is Salary, wich 'depend' on points scored. Because points score is a variable that affects salary, is considered the independent variable. The scatterplot is made by selecting both variables and clicking on Insert a Graph in Excel. It is considered linear because we can make a straight line from the points. Because the correlation is 0.55, it is not so strong to have all the data points in a straight line.

Suppose you want to evaluate the growth of your business over the past ten years. The type of data that will be most suitable for this evaluation are time series data. cross sectional data. inferential data. categorical data

time series data.

Use the data set which shows student grades on exam 2 and scores on exam 3. You can use the pivot table feature in excel to make a crosstabulation or contingency table as a first step. True or False: Students that do outstanding ("A") on exam 2 are more likely to do outstanding ("A") on exam 3 than the rest of the class.

true The conditional probability of getting an A on exam 3 given an A on exam 2 is .275 which is much larger than the marginal probability of .109. This suggests that students that get an A on exam two are more than twice as likely to get an A on exam 3 than a student drawn randomly from the class.