Don't use plagiarized sources. Get Your Custom Essay on

Mg 620 research and statistics for managers april 2016 final exam

Just from $13/Page

MG 620 Research and statistics for Managers April 2016

**Final Exam ****Instructions: **Answer all questions ** **

** **

**Part I : Problem**

** **

**1. ****Fitting a straight line to a set of data yields the following prediction line:**

Y = 10 + 4X

i) Interpret the meaning of the Y intercept, b_{0}.

ii) Interpret the meaning of the slope, b_{1}

_{ }

iii) Predict the mean value of Y for X =8

**2. ****College administrators are interested in determining if the number of hours students study affects the GPA of students. They sample 6 students and determine the number of hours of studied last month and** **their GPA. These data are presented in the table that follows.**

Student Hours Study(X) GPA (Y)

1 1 4

2 2 6

3 1 3

4 0 1

5 1 1

6 2 5

- Construct a scatter diagram for these data. Does the scatter diagram show a linear relationship between sales and number of new clients?
**Explain and show all work!**

** **

**Y**

6

5

4

3

2

1

0 1 2 3 X** **

b) Estimate the **intercept **(b_{0}). Show your work

c) Estimate the **slope** (b_{1}). Show your work

c) **Draw the regression line**

3. If SSR = 75 and SST = 88, compute the coefficient of determination, **r ^{2}**, and interpret its meaning.

4. **A Professor at a Community College does not want its students to wait in line for service for too long. She estimated that the students currently have to wait an average of 4 minutes for service. Assume that the waiting times for all customers at this branch have a normal distribution with a mean of 8 minutes and a standard deviation of 2 minutes**.

Find the probability that randomly selected customer will have to wait for less than 4 minutes?

Instructions: Show all steps:

1. Draw the normal curve and indicate the mean, standard deviation, and the X bar scale

2. Identify the area of interest (that is shade the area under the curve that you will compute the probability).

3. Covert the X bar values in Z scores

4. Look up the Z standardized table for the cumulative area(s).

5. Now, make your decision ( that a customer will wait for less than 4 minutes)

1. **A Professor at a Community College does not want its students to wait in line for service for too long. She estimated that the students currently have to wait an average of 4 minutes for service. Assume that the waiting times for all customers at this branch have a normal distribution with a mean of 8 minutes and a standard deviation of 2 minutes**.

What is the probability that customers have to wait for 2 to 8 minutes?

Instructions: Show all steps:

a. Draw the normal curve and indicate the mean, standard deviation, and the X bar scale

b. Identify the area of interest (that is shade the area under the curve that you will compute the probability).

c. Covert the X bar values in Z scores

d. Look up the Z standardized table for the cumulative area(s).

e. Now, make your decision ( that a customer will have to wait for 2 to 8 minutes)

** **

**10. ****One thousand teachers were selected from a city’s large private college, and they were asked whether or not they have health coverage provided by their college. Below is the two-way contingency table showing health care coverage.**

Have Health Coverage

**Yes No** Total

Men 450 150 600

**Women ** 300 100 400

Total 750 250 1000

Suppose a someone is selected at random from these 1000 teachers,

a) Find the probability that this person is a woman

b) What is the probability that a person selected is a woman and has health coverage

c) What is the probability that a teacher has health coverage given that the teacher is a man

d) What is the probability the teacher is a woman given that she does not have health coverage

**11. ****A Motel owner wishes to sell his apartment. He claims that over the past 8 months, the average daily rent revenue was $200 with a standard deviation of $25. A sample of 30 days reveals daily revenue of $150. **

** **

** **

If you use the significance level of α = .05, would you reject the null hypothesis? Show all steps!

**Instructions:**

1. State the Hypothesis( Null and Alternative)

2. Draw the normal distribution and identify the acceptance and rejection regions

3. Compute the Z _{STAT} value

4. Compare your Z_{STAT }with the Z Tabled value.

5. Make you decision

** **

** **

** **

The price is based on these factors:

Academic level

Number of pages

Urgency

Basic features

- Free title page and bibliography
- Unlimited revisions
- Plagiarism-free guarantee
- Money-back guarantee
- 24/7 support

On-demand options

- Writer’s samples
- Part-by-part delivery
- Overnight delivery
- Copies of used sources
- Expert Proofreading

Paper format

- 275 words per page
- 12 pt Arial/Times New Roman
- Double line spacing
- Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Delivering a high-quality product at a reasonable price is not enough anymore.

That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more