LDR531 Week 3 Communications Challenges and Strategies

Purpose of Assignment

The purpose of this assignment is to provide students with an opportunity to apply communications theories, research, and conversation with class colleagues to actual business situations, through the development of applicable strategies. 

Assignment Steps 

Read Case 2: Global Shared Services, McDonald's Corporation located in Mastering Leadership.

Analyze in 1,050 to 1,225 words the communications and group behavioral issues that might arise in an organization hiring employees for their first job based on the discussion from your learning team. 

Include a strategy to address these challenges.

Format your assignment consistent with APA guidelines.

LDR531 Week 2 Comparing Leadership Models

Purpose of Assignment

The purpose of this assignment is to provide the student with an opportunity to understand and analyze the Universal Model of Leadership in the text, and compare it to one other model to see the similarities and differences. 

Assignment Steps

Create a 10- to 12-slide PowerPoint^® presentation to compare the Universal Model of Leadership in Mastering Leadership to one other leadership model. 

Include the following: 

• Include a graphic to compare and contrast those two models, noting similarities and differences.
• Develop your conclusions regarding the significance of those models in business. How might they apply?
• Include detailed speaker notes, supporting citations, and references.

Format your assignment consistent with APAguid

LDR531 Week 1 Personal Leadership Evaluation

Purpose of Assignment 

The purpose of this assignment is to provide students with an opportunity to reflect on their personal leadership styles at the beginning of the class, as a basis for class learning. 

Assignment Steps  

Resources: Mastering Leadership Self-Assessment

Take the Mastering Leadership Self-Assessment. 

Create a 1,400-word analysis based on the assessment, text, video, and any other information you wish including: 

• Explain how you view your strengths and weaknesses, along with a development plan to address both.
• Be specific, and explain your rationale based on the text and video, with cited evidence. 

You will use this assignment as a reference for the assignments in Weeks 2-6. You will be required to take the Mastering Leadership Self-Assessment listed in the Resources.

 

QRB501 Final Exam SCORE 90 PERCENT

Question 1
Which month in 2009 had the highest sales?
    Month 2
    Month 9
    Month 5
    Month 12

Question 2
Central Airlines offers a trade discount series of 30/35/10 for frequent flyers. If a round-trip airline ticket is $683, what is the net price? Use the net decimal equivalent to find the net price. Round to the nearest cent.
    $403.31
    $512.25
$279.69
    $170.75

Question 3
Solve the problem. Round to the nearest cent or tenth of a percent.
An item sells for $524.00 and is reduced to sell for $440.16. Find the markdown amount and the rate of markdown.
    Markdown amount = $70.43
    Rate of markdown = 16%
   
Markdown amount = $83.84
    Rate of markdown = 16%

    Markdown amount = $369.73
    Rate of markdown = 84%


    Markdown amount = $83.84
    Rate of markdown = 84%

Question 4
An invoice received from Royal Exporters totaled $638.20, was dated October 10, and offered terms of 1/11 ROG. The shipment was received November 27. If the invoice was paid on December 12, find the net amount due. Round to the nearest cent.

    $6.38
        $631.82
        $638.20
    $0

Question 5
Find the maturity value of a loan of $6787 after 4 months. The loan carries a simple interest rate of 14% per year.

    $7024.55
        $7182.91
    $7103.73
        $7106.39

Question 6
Find the range for the scores: 13, 23, 60, 46, 53, 75.
    62
    44

    46

    88

Question 7
Felipe Rivera's savings account has a balance of $3159. After 4 years what will the amount of interest be at 1.6% compounded quarterly?
$25.27


$199.37


$208.37


$213.37

Question 8
Barbara knows that she will need to buy a new car in 4 years. The car will cost $15,000 by then. How much should she invest now at 6%, compounded quarterly, so that she will have enough to buy a new car?

    $11,208.87
        $12,594.29
$11,820.45
        $13,327.31

Question 9
Present value is best defined as:



    the amount that must be invested per year and compounded at a specified rate and time to reach a specified present value


    all of these are appropriate definitions for present value


    the amount of a specified future value compounded at a specified rate which can be invested currently


    the amount that must be invested now and compounded at a specified rate and time to reach a specified future value

Question 10
The following test scores were recorded for a student: 79, 74, 72, 68, 74, 60, 70. Find the mean, median, and mode.

    mean: 71, median: 72, mode: 74
        mean: 71, median: 68, mode: 79
        mean: 72, median: 71, mode: 79
        mean: 72, median: 68, mode: 74


Question 11
Solve the problem. Round to the nearest cent or tenth of a percent.

Cost = $48.19; selling price = $58.79. Find the markup and the rate of markup based on the selling price.



    Markup = $21.20
    Rate of markup based on selling price = 51.8%


    Markup = $21.20
    Rate of markup based on selling price = 22.0%


    Markup = $10.60
    Rate of markup based on selling price = 18.0%


    Markup = $10.60
    Rate of markup based on selling price = 82.0%

Question 12

An invoice for a laptop computer that cost $625.68 is dated September 15, with sales terms of 3/10 EOM. If the bill is paid October 8, find the cash discount and net amount paid. Round to the nearest cent.



    Cash discount: $62.57; net amount: $563.11


Cash discount: $18.77; net amount: $ $606.91


    Cash discount: $0; net amount: $625.68


    Cash discount: $18.47; net amount: $614.68

Question 13


Sales of frozen pizza for a club fund-raiser increased from 500 one year to 610 the next year. What was the percent of increase?



    22%


    18%


    82%


    78%

Question 14
Sarah has made a budget for how much she will spend on activities this summer. The circle graph above shows how she has divided up her spending money.

What percent of Sarah's budget is allocated for movies?



    10%


    15%


    5%


    50%
Question 15
Megan Hughes deposits $2300 in an account that pays simple interest. When she withdraws her money 8 months later, she receives $2484.00. What rate of interest did the account pay? Round to the nearest whole percent.

    14% per year
12% per year
        11% per year
    13% per year

Question 16
The circle graph above gives the inventory of the women's department of a store.

What is the total inventory?



    $109,980


    $107,865


    $112,095


    $74,730

Question 17


Find the net price of a bicycle that lists for $82.95 if a discount rate of 15% is offered. Round to the nearest cent.



    $12.44


    $70.76


    $70.51


    $12.69

Question 18


An invoice for $8630, dated October 5, was received by a company with the terms 5/15 EOM. A decision was made to make a partial payment of $400 on November 2. Find the amount credited to the account and find the outstanding balance. Round to the nearest cent.



    Credit: $421.05

    Balance: $8208.95


    Credit: $420.00

    Balance: $8210.00


    Credit: $400.00

    Balance: $8230.00


    Credit: $380.00

    Balance: $8250.00
Question 19


A number increased from 2553 to 5955 . Find the amount of increase.



    3396


    3296


    5402


3402

Question 20
Jorge makes a simple discount note with a face value of $6000.00, a term of 240 days, and a 10% discount rate. Find the discount.



    Discount: $0.00


    Discount: $394.52


    Discount: $400.00


    Discount: $600.00

Question 21
The primary difference between an annuity due and an ordinary annuity is:
I. when the money is paid into the annuity
II. the way the money is paid out of the annuity
III. with an annuity due, payment is made at the beginning of the period



    both I and III


    III only


    II only


    I only

Question 22


Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.

Cost = $4.04; Selling price = $7.12. Find the markup and the rate of markup based on cost.



    Markup: $3.08
    Rate of markup based on cost: 76.2%


    Markup: $3.08
    Rate of markup based on cost: 43.3%


    Markup: $11.16
    Rate of markup based on cost: 36.2%


    Markup: $7.12
    Rate of markup based on cost: 56.7%

Question 23
Which month in 2010 had the lowest sales?



    Month 12


    Month 7


    Month 3


Month 2

Question 24


Find the interest paid on a loan of $2000 for 1 year at a simple interest rate of 7% per year.



    $14.00


    $160.00


    $140.00


    $2140.00

Question 25
Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interest rate of 8% for 2 years. Use the formula I = prt to find the amount of interest he will pay on the loan.

I = interest; p = principal; r = rate (expressed as a decimal 0.08); t = time in years.



    $576


    $288


    $2880


    $4176

Question 26


Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.

Markup = $16.15; Selling price = $95.00. Find the cost.



    Cost: $16.15


    Cost: $111.15


    Cost: $78.85


    Cost: $95.00

Question 27
Christine is currently taking college astronomy. The instructor often gives quizzes. On the past seven quizzes, Christine got the following scores: 53, 12, 41, 29, 18, 42, 57

Find the standard deviation.



    17


    10,812


    9072


    41
Question 28
The bar graph below shows the percent of income spent on leisure activities in various countries of the world. In which country is the highest percent of income spent on leisure activities? What percent is this?
USA; 72.8%


USA; 27.2%


China; 94.8%


Japan; 24.4%

Question 29


When finding the amount of change in percentage problems, the percent is always based on:



    the final or ending amount in decrease problems


    the final or ending amount


    the original or beginning amount


    the original or beginning amount for increase problems

Question 30


Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.

Cost = $5.22; Selling price = $10.35. Find the markup.



    Markup: $15.57


    Markup: $5.22


    Markup: $10.35


    Markup: $5.13

QNT561 Week 6 Signature assignment Consumer Database

Assignment Steps 

Resources: Microsoft Excel^®, Signature Assignment Databases, Signature Assignment Options, Part 3: Inferential Statistics

Scenario: Upon successful completion of the MBA program, say you work in the analytics department for a consulting company. Your assignment is to analyze one of the following databases:

·         Manufacturing

·         Hospital

·         Consumer Food

·         Financial 

Select one of the databases based on the information in the Signature Assignment Options. 

Provide a 1,600-word detailed, statistical report including the following:

·         Explain the context of the case

·         Provide a research foundation for the topic

·         Present graphs

·         Explain outliers

·         Prepare calculations

·         Conduct hypotheses tests

·         Discuss inferences you have made from the results 

This assignment is broken down into four parts:

·         Part 1 - Preliminary Analysis

·         Part 2 - Examination of Descriptive Statistics

·         Part 3 - Examination of Inferential Statistics

·         Part 4 - Conclusion/Recommendations 

Part 1 - Preliminary Analysis (3-4 paragraphs)

Generally, as a statistics consultant, you will be given a problem and data. At times, you may have to gather additional data. For this assignment, assume all the data is already gathered for you.

State the objective:

·         What are the questions you are trying to address?

Describe the population in the study clearly and in sufficient detail:

·         What is the sample?

Discuss the types of data and variables:

·         Are the data quantitative or qualitative?

·         What are levels of measurement for the data? 

Part 2 - Descriptive Statistics (3-4 paragraphs) 

Examine the given data.

Present the descriptive statistics (mean, median, mode, range, standard deviation, variance, CV, and five-number summary).

Identify any outliers in the data.

Present any graphs or charts you think are appropriate for the data.

Note: Ideally, we want to assess the conditions of normality too. However, for the purpose of this exercise, assume data is drawn from normal populations. 

Part 3 - Inferential Statistics (2-3 paragraphs)

Use the Part 3: Inferential Statistics document.

·         Create (formulate) hypotheses

·         Run formal hypothesis tests

·         Make decisions. Your decisions should be stated in non-technical terms.

Hint: A final conclusion saying "reject the null hypothesis" by itself without explanation is basically worthless to those who hired you. Similarly, stating the conclusion is false or rejected is not sufficient. 

Part 4 - Conclusion and Recommendations (1-2 paragraphs)

Include the following:

·         What are your conclusions?

·         What do you infer from the statistical analysis?

·         State the interpretations in non-technical terms. What information might lead to a different conclusion?

·         Are there any variables missing?

·         What additional information would be valuable to help draw a more certain conclusion?

 

Option 1: Manufacturing Database

 

This database contains six variables taken from 20 industries and 140 subindustries in the United States. Some of the industries are food products, textile mill products, furniture, chemicals, rubber products, primary metals, industrial machinery, and transportation equipment. The six variables are Number of Employees, Number of Production Workers, Value Added by Manufacture, Cost of Materials, End-of-Year Inventories, and Industry Group. Two variables, Number of Employees and Number of Production Workers, are in units of 1000. Three variables, Value Added by Manufacture, Cost of Materials, and End-of-Year Inventories, are in million-dollar units. The Industry Group variable consists of numbers from 1 to 20 to denote the industry group to which the particular subindustry belongs.

 

Option 2: Hospital Database

 

This database contains observations for six variables on U.S. hospitals. These variables include Geographic Region, Control, Service, Census, Number of Births, and Personnel.

 

The region variable is coded from 1 to 7, and the numbers represent the following regions:

 

1 = South

2 = Northeast

3 = Midwest

4 = Southwest

5 = Rocky Mountain

6 = California

7 = Northwest

 

Control is a type of ownership. Four categories of control are included in the database:

 

1 = government, nonfederal

2 = nongovernment, not-for-profit

3 = for-profit

4 = federal government

 

Service is the type of hospital. The two types of hospitals used in this database are:

 

1 = general medical

2 = psychiatric

 

Option 3: Consumer Food

 

The consumer food database contains five variables: Annual Food Spending per Household, Annual Household Income, Non-Mortgage Household Debt, Geographic Region of the U.S. of the Household, and Household Location. There are 200 entries for each variable in this database representing 200 different households from various regions and locations in the United States. Annual Food Spending per Household, Annual Household Income, and Non-Mortgage Household Debt are all given in dollars. The variable Region tells in which one of four regions the household resides. In this variable, the Northeast is coded as 1, the Midwest is coded 2, the South is coded as 3, and the West is coded as 4. The variable Location is coded as 1 if the household is in a metropolitan area and 2 if the household is outside a metro area. The data in this database were randomly derived and developed based on actual national norms.

 

Option 4: Financial Database

 

The financial database contains observations on seven variables for 100 companies. The variables are Type of Industry, Total Revenues ($ millions), Total Assets ($ millions), Return on Equity (%), Earnings per Share ($), Dividends per Share ($), and Average Price per Earnings (P/E) ratio. The companies represent seven different types of industries. The variable Type displays a company's industry type as:

 

1 = apparel

2 = chemical

3 = electric power

4 = grocery

5 = healthcare products

6 = insurance

7 = petroleum

 

 

 

 

Option 1: Manufacturing Database

 

1.     The National Association of Manufacturers (NAM) contracts with your consulting company to determine the estimate of mean number of production workers. Construct a 95% confidence interval for the population mean number of production workers. What is the point estimate? How much is the margin of error in the estimate?

 

2.     Suppose the average number of employees per industry group in the manufacturing database is believed to be less than 150 (1000s). Test this belief as the alternative hypothesis by using the 140 SIC Code industries given in the database as the sample. Let α = .10. Assume that the number of employees per industry group are normally distributed in the population.

 

3.     You are also required to determine whether there is a significant difference between mean Value Added by the Manufacturer and the mean Cost of Materials in manufacturing using alpha of 0.01.

 

4.     You are requested to determine whether there is a significantly greater variance among values of Cost of Materials than of End-of-Year Inventories.

 

Option 2: Hospital Database

 

1.     As a consultant, you need to use the Hospital database and construct a 90% confidence interval to estimate the average census for hospitals. Change the level of confidence to 99%. What happened to the interval? Did the point estimate change?

 

2.     Determine the sample proportion of the Hospital database under the variable "service" that are "general medical" (category 1). From this statistic, construct a 95% confidence interval to estimate the population proportion of hospitals that are "general medical." What is the point estimate? How much error is there in the interval?

 

3.     Suppose you want to "prove" that the average hospital in the United States averages more than 700 births per year. Use the hospital database as your sample and test this hypothesis. Let alpha be 0.01.

 

4.     On average, do hospitals in the United States employ fewer than 900 personnel? Use the hospital database as your sample and an alpha of 0.10 to test this figure as the alternative hypothesis. Assume that the number of births and number of employees in the hospitals are normally distributed in the population.

 

Option 3: Consumer Food

 

1.     Suppose you want to test to determine if the average annual food spending for a household in the Midwest region of the U.S. is more than $8,000. Use the Midwest region data and a 1% level of significance to test this hypothesis. Assume that annual food spending is normally distributed in the population.

 

2.     Test to determine if there is a significant difference between households in a metro area and households outside metro areas in annual food spending. Let α = 0.01.

 

3.     The Consumer Food database contains data on Annual Food Spending, Annual Household Income, and Non-Mortgage Household Debt broken down by Region and Location. Using Region as an independent variable with four classification levels (four regions of the U.S.), perform three different one-way ANOVA's—one for each of the three dependent variables (Annual Food Spending, Annual Household Income, Non-Mortgage Household Debt). Did you find any significant differences by region?

 

Option 4: Financial Database

 

1.     Use this database as a sample and estimate the earnings per share for all corporations from these data. Select several levels of confidence and compare the results.

 

2.     Are the average earnings per share for companies in the stock market less than $2.50? Use the sample of companies represented by this database to test that hypothesis. Let α = .05.

 

3.     Test to determine whether the average return on equity for all companies is equal to 21. Use this database as the sample and α = .10. Assume that the earnings per share and return on equity are normally distributed in the population.

 

4.     Do various financial indicators differ significantly according to type of company? Use a one-way ANOVA and the financial database to answer this question. Let Type of Company be the independent variable with seven levels (Apparel, Chemical, Electric Power, Grocery, Healthcare Products, Insurance, and Petroleum). Compute three one-way ANOVAs, one for each of the following dependent variables: Earnings Per Share, Dividends Per Share, and Average P/E Ratio.

 

 

 

QNT561 Week 6 Final Exam SCORE 87 PERCENT

1.    Suppose a population has a mean of 400 and a standard deviation of 24. If a random sample of size 144 is drawn from the population, the probability of drawing a sample with a mean less than 402 is _______.
•     

0.8413
•     

0.1587
•     

0.9875
•     

0.6826
•     

0.3413

2.    The empirical rule says that approximately what percentage of the values would be within 2 standard deviations of the mean in a bell shaped set of data?
•     

95%
•     

68%
•     

97.7%
•     

100%
•     

50%

3.    A large industrial firm allows a discount on any invoice that is paid within 30 days.  Of all invoices, 10% receive the discount.  In a company audit, 10 invoices are sampled at random.  The probability that fewer than 3 of the 10 sampled invoices receive the discountis approximately_______________.
•     

0.057
•     

0.9298
•     

0.3486
•     

0.1937
•     

0.001

4.    James Desreumaux, VP of Human Resources of American First Banks (AFB), is reviewing the employee training programs of AFB banks.  His staff randomly selected personnel files for 100 tellers in the Southeast Region and determined that their mean training time was 25 hours.  Assume that the population standard deviation is 5 hours.  The 95% confidence interval for the population mean of training times is ________.
•     

24.02 to 25.98
•     

23.32 to 35.46
•     

15.20 to 34.80
•     

16.78 to 33.23
•     

24.18 to 25.82

5.    A market research team compiled the following discrete probability distribution on the number of sodas the average adult drinks each day.  In this distribution, x represents the number of sodas which an adult drinks.
x    P(x)
0    0.30
1    0.10
2    0.50
3    0.10
The mean (average) value of x is _______________.
•     

1.4
•     

2.55
•     

1.75
•     

3.02
•     

2.10

6.    A large national company is considering negotiating cellular phone rates for its employees. The Human Resource department would like to estimate the proportion of its employee population who own an Apple iPhone. A random sample of size 250 is taken and 40% of the sample own and iPhone.. The 95% confidence interval to estimate the population proportion is _______.
•     

0.35 to 0.45
•     

0.37 to 0.43
•     

0.34 to 0.46
•     

0.40 to 0.42
•     

0.39 to 0.41

7.    If x is a binomial random variable with n=10 and p=0.8, what is the probability that x is equal to 4?
•     

.0055
•     

.0063
•     

.232
•     

.994
•     

.124

8.    The mean life of a particular brand of light bulb is 1200 hours and the standard deviation is 75 hours.  Tests show that the life of the bulb is approximately normally distributed.  It can be concluded that approximately 68% of the bulbs will last between _______.
•     

1050 and 1350 hours
•     

900 and 1100 hours
•     

1125 and 1275 hours
•     

950 and 1050 hours
•     

975 and 1475 hours

9.    The normal distribution is used to test about a population mean for large samples if the population standard deviation is known.  "Large" is usually defined as _______.
•     

at least 100
•     

at least 5% of the population size
•     

at least 10
•     

at least 30
•     

at least 12

10.    Completion time (from start to finish) of a building remodeling project is normally distributed with a mean of 200 work-days and a standard deviation of 10 work-days. To be 99% sure that we will not be late in completing the project, we should request a completion time of _______ work-days.
•     

250
•     

207
•     

200
•     

223
•     

211

11.    The expected (mean) life of a particular type of light bulb is 1,000 hours with a standard deviation of 50 hours. The life of this bulb is normally distributed.  What is the probability that a randomly selected bulb would last fewer than 940 hours?
•     

0.1151
•     

0.3849
•     

0.6563
•     

0.8849
•     

0.6151

12.    Life tests performed on a sample of 13 batteries of a new model indicated: (1) an average life of 75 months, and (2) a standard deviation of 5 months.  Other battery models, produced by similar processes, have normally distributed life spans.  The 98% confidence interval for the population mean life of the new model is _________.
•     

71.77 to 78.23
•     

79.86 to 81.28
•     

61.60 to 88.41
•     

63.37 to 86.63
•     

71.28 to 78.72

13.    Elwin Osbourne, CIO at GFS, Inc., is studying employee use of GFS e-mail for non-business communications. He plans to use a 95% confidence interval estimate of the proportion of e-mail messages that are non-business; he will accept a 0.05 error.  Previous studies indicate that approximately 30% of employee e-mail is not business related. Elwin should sample _______ e-mail messages.
•     

457
•     

323
•     

14
•     

100
•     

12

14.    According to the central limit theorem, for samples of size 64 drawn from a population withµ= 800 andσ= 56, the standard deviation of the sampling distribution of sample means would equal _______.
•     

800
•     

8
•     

7
•     

80
•     

100

15.    Maureen McIlvoy, owner and CEO of a mail order business for wind surfing equipment and supplies, is reviewing the order filling operations at her warehouses.  Her goal is 100% of orders shipped within 24 hours.  In previous years, neither warehouse has achieved the goal, but the East Coast Warehouse has consistently out-performed the West Coast Warehouse.  Her staff randomly selected 200 orders from the West Coast Warehouse (population 1) and 400 orders from the East Coast Warehouse (population 2), and reports that 190 of the West Coast Orders were shipped within 24 hours, and the East Coast Warehouse shipped 372 orders within 24 hours.  Maureen's alternative hypothesis is _______.

p1– p2> 0
•     

1-2> 0
•     

1-2≥0
•     

1-2≠0
•     

p1– p2≠0

16.    According to the central limit theorem, for samples of size 64 drawn from a population withµ= 800 andσ= 56, the mean of the sampling distribution of sample means would equal _______.
•     

8
•     

100
•     

800
•     

80
•     

7

17.    If x is a binomial random variable with n=10 and p=0.8, the mean value of x is _____.
•     

8
•     

3.2
•     

6
•     

4.8
•     

48

18.    Consider the following null and alternative hypotheses.
                                    Ho:   ≤ 67
                                    Ha:  > 67
These hypotheses _______________.
•     

are not mutually exclusive
•     

indicate a one-tailed test with a rejection area in the left tail
•     

indicate a one-tailed test with a rejection area in the right tail
•     

indicate a two-tailed test
•     


19.    A researcher wants to determine the sample size necessary to adequately conduct a study to estimate the population mean to within 5 points. The range of population values is 80 and the researcher plans to use a 90% level of confidence. The sample size should be at least _______.
•     

44
•     

700
•     

692
•     

216
•     

62

Question 20
Medical Wonders is a specialized interior design company focused on healing artwork. The CEO, Kathleen Kelledy claims that artwork has healing effects for patients staying in a hospital, as measured by reduced length of stay. Her current client is a children's cancer hospital. Kathleen is interested in determining the effect of three different pieces of healing artwork on children. She chooses three paintings (a horse photo, a bright abstract, and a muted beach scene) and randomly assigns six hospital rooms to each painting. Kathleen's null hypothesis is _____________.
•     

1 ≤2 ≥3
•     

1 ≤2 ≤3
•     

1 ≠2 ≠3
1 ≥2 ≥3
•     

1 2 3


Question 21
A market researcher is interested in determining the average income for families in San Mateo County, California. To accomplish this, she takes a random sample of 300 families from the county and uses the data gathered from them to estimate the average income for families of the entire county.  This process is an example of _______.

    census
    inferential statistics

    nominal data
    descriptive statistics

    nonparametric statistics


Question 22
The number of bags arriving on the  baggage claim conveyor belt  in a 3 minute time period would best be modeled with the _________.

    exponential distribution
    hyperbinomial distribution
    Poisson distribution
    hypergeometric distribution
    binomial distribution

Question 23
The number of finance majors within the School of Business is an example of _______.

    a discrete random variable
    the normal distribution
    a constant
    the Poisson distribution
    a continuous random variable

Question 24
Lucy Baker is analyzing demographic characteristics of two television programs, American Idol (population 1) and 60 Minutes (population 2).  Previous studies indicate no difference in the ages of the two audiences (The mean age of each audience is the same.) Lucy plans to test this hypothesis using a random sample of 100 from each audience. Her null hypothesis is ____________.

    m1 - m2 = 0
    m1 - m2 < 1
    m1 - m2 > 0
    m1 - m2 < 0
    m1 - m2 ≠ 0

Question 25
Ophelia O'Brien, VP of Consumer Credit of American First Banks (AFB), monitors the default rate on personal loans at the AFB member banks.  One of her standards is "no more than 5% of personal loans should be in default."  On each Friday, the default rate is calculated for a sample of 500 personal loans.  Last Friday's sample contained 30 defaulted loans.  Ophelia's null hypothesis is _______.

    n = 0.05
    n = 500
    n = 30
    p> 0.05
    p = 0.05

Question 26
The mean life of a particular brand of light bulb is 1200 hours. If you know that at about 95% of this brand of bulbs will last between 1100 and 1300 hours, then what is the standard deviation of the light bulbs' life?

    200
    100
    75
    25
    50

Question 27
The number of cars arriving at a toll booth in five-minute intervals is Poisson distributed with a mean of 3 cars arriving in five-minute time intervals. The probability of    5 cars arriving over a five-minute interval is _______.

    0.1500
    0.0940
    0.1008
    0.0417
    0.2890

Question 28
Thefollowing frequency distribution was constructed for the wait times in the emergency room.
The frequency distribution reveals that the wait times in the emergency room are _______.
skewed to the left
not skewed
normally distributed
symmetrical
skewed to the right

Question 29
Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of a new toothpaste package.  Her staff reports that 17% of a random sample of 200 households prefers the new package to all other package designs.  If Catherine concludes that 17% of all households prefer the new package, she is using _______.

    a range estimate
    a point estimate
    a statistical parameter
    an exact estimate
    an interval estimate

Question 30
The weight of a USB flash drive is 30 grams and is normally distributed.  Periodically, quality control inspectors at Dallas Flash Drives randomly select a sample of 17 USB flash drives.  If the mean weight of the USB flash drives is too heavy or too light the machinery is shut down for adjustment; otherwise, the production process continues. The last sample showed a mean and standard deviation of 31.9 and 1.8 grams, respectively.    Using a = 0.10, the appropriate decision is _______.
    reject the null hypothesis and do not shut down the process
    fail to reject the null hypothesis and shut down the process
    fail to reject the null hypothesis and do not shut down the process) do nothing
    reject the null hypothesis and shut down the process

QNT561 Week 5 One-Sample Hypothesis Testing Cases

Purpose of Assignment 

The purpose of this assignment is to develop students' abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions.  Select one of the two cases for this assignment.In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable. 

Assignment Steps 

Resources: Microsoft Excel^®, Case Study Scenarios, SpeedX Payment Times 

Develop a 500 word statistical analysis based on the Case Study Scenarios and SpeedX Payment Times. 

Include answers to the following: 

Case 1: Election Results 

• Use 0.10 as the significance level (α).
• Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state. 

Case 2: SpeedX

• Use 0.10 and the significance level (α).
• Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable. 

Format your assignment consistent with APA format. 

 

Case Study – Election Results

 

When an election for political office takes place, the television networks cancel regular programming and instead, provide election coverage. When the ballots are counted, the results are reported. However, for important offices such as president or senator in large states, the networks actively compete to see which will be the first to predict a winner. This is done through exit polls, wherein a random sample of voters who exit the polling booth is asked for whom they voted. From the data, the sample proportion of voters supporting the candidates is computed. Hypothesis testing is applied to determine whether there is enough evidence to infer the leading candidate will garner enough votes to win.

Suppose in the exit poll from the state of Florida during the 2000 year elections, the pollsters recorded only the votes of the two candidates who had any chance of winning: Democrat Al Gore and Republican George W. Bush. In a sample of 765 voters, the number of votes cast for Al Gore was 358 and the number of votes cast for George W. Bush was 407. The network predicts the candidate as a winner if he wins more than 50% of the votes. The polls close at 8:00 P.M. Based on the sample results, conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state. Use 0.10 as the significance level (α).

Case Study – SpeedX

 

SpeedX, a large courier company, sends invoices to customers requesting payment within 30 days. The bill lists an address, and customers are expected to use their own envelopes to return their payments. Currently, the mean and standard deviation of the amount of time taken to pay bills are 24 days and 6 days, respectively. The chief financial officer (CFO) believes including a stamped self-addressed envelope would decrease the amount of time. She calculates the improved cash flow from a 2-day decrease in the payment period would pay for the costs of the envelopes and stamps. You have an MBA from the University of Phoenix, and work for SpeedX as a business analyst. One of your job duties is to run analytics and present the results to the senior management for critical decision-making. You see this as an opportunity to utilize some of the skills you gained in the Statistics course. Because of your strong understanding and background in inferential statistics, you decide to take up this important assignment. You have learned any analysis in inferential statistics starts with sampling. To test the CFO's belief, you decide to randomly select 220 customers and propose to include a stamped self-addressed envelope with their invoices. The CFO accepts your proposal and allows you to run a pilot study. You then record the numbers of days until payment is received. Using your statistical expertise and skills you gained in the class, conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude that the plan will be profitable. Use 0.10 and the significance level (α).