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FBA 310 - (Business Statistics) Assignment Questions - FIN'22

1. The document provides sample questions from a business statistics assignment covering topics like: estimating population means and standard deviations from sample data, confidence intervals, hypothesis testing, analysis of variance, regression analysis, and contingency tables. 2. Questions involve simple random samples, point and interval estimates, sampling distributions, test statistics, p-values, rejection rules, and conclusions for hypothesis tests. 3. Questions also cover finding differences between population means, developing scatter plots and regression equations from bivariate data, and determining correlation from a regression analysis.

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147 views3 pages

FBA 310 - (Business Statistics) Assignment Questions - FIN'22

1. The document provides sample questions from a business statistics assignment covering topics like: estimating population means and standard deviations from sample data, confidence intervals, hypothesis testing, analysis of variance, regression analysis, and contingency tables. 2. Questions involve simple random samples, point and interval estimates, sampling distributions, test statistics, p-values, rejection rules, and conclusions for hypothesis tests. 3. Questions also cover finding differences between population means, developing scatter plots and regression equations from bivariate data, and determining correlation from a regression analysis.

Uploaded by

faith ola
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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FIN’22

FBA 310 – (Business Statistics) Assignment Questions

1. A simple random sample of 5 months of sales data provided the following information:

Months 1 2 3 4 5

Units Sold 94 100 85 94 92

a) Develop a point estimate of the population mean number of units sold per month.

b) Develop a point estimate of the population standard deviation.

2. A simple random sample of size 100 is selected from a population with p = 40.

a) What is the expected value of 𝑃̅ ?

b) What is the standard error of 𝑃̅ ?

c) Show the sampling distribution of 𝑃̅ .

d) What does the sampling distribution of 𝑃̅ shows?

3. A simple random sample with n = 54. Provided a sample mean of 22.5 and a sample standard deviation 4.4.

a) Develop a 90% confidence interval for the population mean.

b Develop a 95% confidence interval for the population mean.

c) Develop a 99% confidence interval for the population mean.

d) What happens to the margin of error and the confidence interval as the confidence level increased?

4. A simple random sample of size 800 elements generates a sample proportion 𝑝̅ = .70

a) Provide a 90% confidence interval of the population proportion.

b) Provide a 95% confidence interval of the population proportion.

5. . Consider the following hypothesis test:

𝑯𝟎 : ≥ 20

𝑯𝒂 :  < 20.

A sample of 50 provided a sample mean 19.4. The population standard deviation is 2.

a) Compute the value of the test of statistic.


b) What is the p- value?
c) At  = .01. what is your conclusion?
d) What is the rejection rule using the critical value ? What is your conclusion?

6. . Consider the following hypothesis test.

𝑯𝟎 :  =100

𝑯𝒂 :  ≠ 100

A sample of 65 is used. Identify the p-value and state your conclusion for each of the following sample results. Use
 =. 𝟎𝟓
a) 𝑥̅ = 103 and s = 11.5
b) 𝑥̅ = 96.5 and s = 11.0
c) 𝑥̅ = 102 and s = 10.5

7. . The following results come from two independent random samples taken of two populations.

Sample 1 Sample 2
n = 50 n = 35
̅ =13.6
𝒙 ̅ = 11.6
𝒙
 = 2.2  = 3.0

a) What is the point estimate of the differences between the two population mean?
b) Provide a 90% confidence interval for the difference between the two population mean.

Provide a 95% confidence interval for the difference between the two population mean.

8. The following data are from matched samples taken from two populations.

Element Population
1 2
1 11 8
2 7 8
3 9 6
4 12 7
5 13 10
6 15 15
7 15 14

a) Compute the difference value for each element.


b) Compute 𝑑̅
c) Compute the standard deviation 𝑆𝑑̅
d) What is the point estimate of the differences between the two population means?
e) Provide a 95% confidence interval for the difference between the two population means?

9. One of the questions on the Business Week Subscriber Study was, “In the past 12Months when travelling for
business, what type of airline ticket did you purchase most often? “. The data obtained are shown in the following
contingency table.
Type of Ticket Type of Flight
Domestic Flights International Flights
First Class 29 22
Business / Executive class 95 121
Full fare economy / Coach class 518 135

Use  = .05 and test for the independence of type of flight and type of ticket. What is your conclusion?

10. In a completely randomized design,12 experimental units were used for the first treatment, 15 for the second
treatment and 20 for the third treatment. complete the following analysis of variance. At a  = .05 level of
significance is there a significant difference between the treatments?

Source of Sum of Degrees of Mean Square F P-value


Variation Squares Freedom
Treatments 1200
Error
Total 1800

11. Given are five observations for two variables, x and y.

Xi 3 12 6 20 14
Yi 55 40 55 10 15

a) Develop a scatter diagram for these data.


b) What does the scattered diagram developed in (a) indicate about the relationship between the two variables?
c) Try to approximate the relationship between x and y by drawing a straight line through the data.
d) Develop the estimated regression equation by computing the value of b0 and b1 using the equation
(𝑥1 −𝑥̅ )(𝑦1 −𝑦̅)
B1 = , B0 = 𝑦̅ − 𝑏1 𝑥̅
∑(𝑥1 −𝑥̅ )2
e) Use the estimated regression equation to predict the value y when x = 10.

12. The data from exercise 3 follows.

Xi 2 6 9 13 20
Yi 7 18 9 26 23

The estimated regression equation for these is ŷ = 7.6 + 9x. What percentage of the total sum of squares can be
accounted for by the estimated regression equation? What is the value of the sample correlation coefficient?

Olamiposi

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