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The faculty members at Boise State University were surveyed on the question "How satisfied were you with the Summer 2002 Schedule?" Their responses were to be categorized as "very satisfied," "somewhat satisfied," "neither satisfied nor dissatisfied," "somewhat dissatisfied," or "very dissatisfied."
(a) Name the variable of interest.
satisfaction dissatisfaction satisfaction level with summer schedule
(b) Identify the type of variable.
continuous ordinal nominal discrete quantitative
In business, investors are always interested in the tradeoff between returns and risk. Regression analysis is a statistical technique that can be used to quantify this risk.
Design a Linear programming problem for the flair Furniture Company and find the combination of tables and chairs that the company must produce to maximize profits.
Multiple choices based on regression analysis - how much or how many but instead is assigned values to represent categories
Explain the concept of risk analysis and how monte carlo simulation can provide useful information for making decisions.
Is there evidence of a significant difference in the proportion who get their news primarily from newspapers between those 36 to 50 years old and those above 50 years old? (use α = 0.05)
A company is interested in estimating the mean number of days of sick leave taken by its employees. The firm's statistician randomly selects 100 personnel files and notes the number of sick days taken by each employee.
Test the financial analyst's belief that the average rate charged by credit cards with monthly fees is less than 14%. Use a 5% significance level.
A manufacturer of dodge balls uses a machine to inflate its new balls to a pressure of 13.5 pounds (σ =0.1). When the machine is properly calibrated, the mean inflation pressure s 13.50 pounds, but uncontrollable factors can cause the pressure of ..
Some people who bought X-game gaming systems complained about having received defective systems. The industry standard for such systems has been 98% non-defective systems.
In standardized form, the normal distribution a) Has a mean of 0 and a standard deviation of 1 b) Has a mean of 1 and a variance of 0 c) Has an area equal to 0.5 d) Cannot be used to approximate discrete probability distributions
When making the histogram from frequency table, (a) what goes along the bottom, (b) what goes along the left edge, and (c) what goes above each value?
Is there any reasonable explanation for the two months that have the highest frequencies?
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