A. Brief Introduction We are interested in three variables which are location, income ($1000), and credit balance. They are collected by 50 customers. B. Discuss your 1st individual variable, using graphical, numerical summary and interpretation From the histogram of location, we can find that the number of urban is the largest.
If you choose 40 random employees from the corporation, the standard error would equal 6/Square root of 40 = .95 days. The 12 days in this department corresponds to (12-8.2)/.95 = 4 standard errors above the corporation average of 8.2. This is much higher than two or three standard errors, and it appears to be beyond chance variation. Chapter 9 Exercise 3 The p- value tells you how likely it would be to get results at least as extreme as this if there was no difference in the taste and only chance variation was operating. In this problem, p-value of 0.02 means that, if there is no difference in taste, then there is only 2% chance that 70% or more people would declare one drink better than the
Discuss your first individual variable, using graphical, numerical summary, and interpretation Descriptive Statistics: Credit Balance($) Total Variable Count Mean StDev Variance Minimum Q1 Median Q3 Credit Balance($) 50 4153 932 868430 2047 3292 4273 4931 N for Variable Maximum Range IQR Mode Mode Credit Balance($) 5861 3814 1638 4073 2 The distribution of credit balance of the sample, which consists of 50 credit customers, is approximately skewed to the left, which is in part driven by $2,000 outlier. In addition, peak of the variable occurs at about $4,500 and the spread is from $2,000 to $6,000. The descriptive statistics of credit balance indicate that mean of $4,153 is lower than the median of $4,273, which in turn concurs that graphical interpretation is skewed to the left. Furthermore, mode of $4,073 occurs most often in a set of data. Graphical and descriptive findings indicate that out of the sample of 50 credit customers, purchasers on average have $4,153 credit balance.
The R^2=86.52%, while R=0.80. From the Analysis of Variance, we saw the P Value= 0.000 the F Value= 85.6452. When we tested with the significance level of 5% we concluded the P value was less than, therefore we concluded to reject the null hypothesis for this level. We also performed the 95% Confidence level to be ($0.009and $0.015) for B1. In addition, we can estimated that a customer with a $4000 credit balance to have an income in between (41.7665, 46.6130) in $1000 using the 95% CI confidence levels to calculate the income level.
Mr. and Mrs. Jones live in a neighborhood where the mean family income is $45,000 with a standard deviation of $9,000. Mr. and Mrs. Smith live in a neighborhood where the mean is $100,000 and the standard deviation is $30,000. What are the relative dispersion of the family incomes in the two neighborhoods? A) Jones 40%, Smith 20% B) Jones 20%, Smith 30% C) Jones 30%, Smith 20% D) Jones 50%, Smith 33% E) None of the above 26. According to Chebyshev's Theorem, what percent of the observations lie within plus and minus 1.75 standard deviations of the
The median would be about forty three thousand a year. E. The first pairing of variables to be reviewed is the relationship between Household Size and Income. A scatterplot was created in order to look at the correlation between the two variables. From reviewing the scatterplot one is able to determine that there is not much consistency for example, those who make an average of thirty eight thousand dollars a year can have anywhere from two, to four to seven household members. This goes the same for those in the fifty five thousand a year bracket as well those individuals can
b. The true population proportion of customers who live in an urban area exceeds 40% c. The average (mean) number of years lived in the current home is less than 13 years d. The average (mean) credit balance for suburban customers is more than $4300 I have been assigned to analyze the speculated data listed above by performing hypothesis test for each of the above situations (using the Seven elements of a Test Hypothesis with a=.05) in order to see if there is evidence to support my manager’s beliefs in each case (a-d), explain my conclusion in simple terms, compute the p-value with the interpretation, follow up with computing 95% confidence intervals for each of the variables described in a. b. c. d. along with interpreting these intervals. This paper will also include an Appendix with all the steps in hypothesis testing, as well as the confidence intervals and Minitab output In order to understand how hypothesis testing is done it is important that you know the elements of the Test of Hypothesis, and what each step means. The Seven elements of a Test of Hypothesis are: 1. Null
It would only be six different amounts. The amounts would be 10 cents using two nickels, 15 cents using a nickel and a dime, 20 cents using two dimes, 30 cents using a nickel and a quarter, 35 cents using a dime and a quarter, and 50 cents using two quarters. [pic] 4. Solve the problem: A long distance phone call costs $1.30 for the first minute plus $0.20 each additional minute. What is the cost of a 6-minute call?
As Bernadette’s AGI ($103,000) is less than $160,000, Bernadette qualifies for a $2,500 American Opportunity credit. The lifetime learning credit is available per taxpayer on the first $10,000 of qualifying tuition expenses. Accordingly, her tuition ($2,000) would qualify for the credit during 2011. Therefore, Bernadette’s maximum lifetime learning credit would be $400 (20% × $2,000) for 2011. However, the $400 maximum credit would have to be reduced by $20 since her $103,000 AGI exceeds the threshold level of $102,000 for married
What were the Rates of Crime for each Area? Inglewood California has a lower aggravated assault crime rate than Knoxville Tennessee. In Inglewood California, the aggravated assault crime rate per 100,000 people in 2006 is 426.8. Knoxville Tennessee had an aggravated assault crime rate of 684.7 for every 100,000 people (Area Connect, 2014). The aggravated assault crime rate for 2006 is reported because it falls between the years 2000 and 2012 that are used in this report of crime data.