Devry Math533 full course Latest 2015 december [ all discussions , full course project and final but no quiz ]

| August 31, 2017

Question
Devry Math533 Week 1 Discussion DQ 1 Latest 2015 November

DQ 1

Class, provide examples of how you can use statistical analysis to make better decisions in your career or daily life.

Devry Math533 Week 2 Discussion DQ 1 Latest 2015 November

DQ 1

A number of years ago, there was a popular television game show called Let’s Make a Deal. The host, Monty Hall, would randomly select contestants from the audience and, as the title suggests, he would make deals for prizes. Contestants would be given relatively modest prizes and then would be offered the opportunity to risk that prize to win better ones.

Suppose you are a contestant on this show. Monty has just given you a free trip worth $500 to a locale that is of little interest to you. He now offers you a trade: Give up the trip in exchange for a gamble. On the stage are three curtains, A, B, and C. Behind one of them is a brand-new car worth $45,000. Behind the other two curtains, the stage is empty.

You decide to gamble and give up the trip. (The trip is no longer an option for you.) You must now select one of the curtains. Suppose you select Curtain A.

In an attempt to make things more interesting, Monty then exposes an empty stage by opening Curtain C (he knows that there is nothing behind Curtain C). He then asks you if you want to keep Curtain A, or switch to Curtain B.

What would you do?

Hint: Questions to consider are: What is the probability of winning and the probability of losing the car prior to opening Curtain C? What is the probability of winning and the probability of losing the car after Curtain C is opened? What is your best strategy?

Devry Math533 Week 3 Discussion DQ 1 Latest 2015 November

DQ 1

Class, based on internet research and in your own words discuss history of Normal distribution and its original applications.

Devry Math533 Week 4 Discussion DQ 1 Latest 2015 November

DQ 1

Class, this week we will cover the concept of statistical Hypothesis testing. In plain language, what is the purpose of this test?

week 5

Read the selection in your text book pertaining to the Case: Statistics in Action: Diary of a Kleenex® User; load the data set for the case, TISSUES, into Minitab; answer the question about the case in the Discussion area; and likewise read and respond to the follow-on selections in the textbook for the case in the Statistics in Action Revisited.

How would you briefly summarize the case, and the data that was generated?

week 6

Class, based on internet research, discuss the historical development and original applications of regression analysis.

week 7

Read the Case: Statistics in Action: Bid-Rigging in the Highway Construction Industry, in Chapter 11 of your textbook, and answer the following questions. The data set, FLAG, for the case study is available in the publisher’s website, so you don’t need to enter the data into Minitab by hand.

What is this case about? Describe the key variables.

course project

.equella.ecollege.com/file/b438cf8a-2ffd-44e8-a23f-f8e998e5493c/2/MATH533_CH_CourseProject.html#”>Course Project > Introduction
Course Project: AJ DAVIS DEPARTMENT STORES

01:20 AM MT
12/30/2015

Introduction

Your Instructor will provide you with a Case description and data set in Doc Sharing.

PROJECT PART A: Exploratory Data Analysis

Open the files for the Course Project and the data set in Doc Sharing.
For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use MINITAB as much as possible, explaining what the printout tells you. You may wish to use some of the following graphs: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, the measures of dispersion, and the shapes of the distributions (for the quantitative variables) for the above data. Where appropriate, use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use MINITAB as appropriate, and explain what the results mean.
Analyze the connections or relationships between the variables. There are ten possible pairings of two variables. Use graphical as well as numerical summary measures. Explain what you see. Be sure to consider all 10 pairings. Some variables show clear relationships, while others do not.
Prepare your report in Microsoft Word, integrating your graphs and tables with text explanations and interpretations. Be sure that you have graphical and numerical back up for your explanations and interpretations. Be selective in what you include in the report. I’m not looking for a 20 page report on every variable and every possible relationship (that’s 15 things to do).
In particular, what I want you do is to highlight what you see for three individual variables (no more than 1 graph for each, one or two measures of central tendency and variability (as appropriate), the shapes of the distributions for quantitative variables, and two or three sentences of interpretation). For the 10 pairings, identify and report only on three of the pairings, again using graphical and numerical summary (as appropriate), with interpretations. Please note that at least one of your pairings must include the qualitative variable and at least one of your pairings must not include the qualitative variable.
All DeVry University policies are in effect, including the plagiarism policy.
Project Part A report is due by the end of Week 2.
Project Part A is worth 100 total points. See grading rubric below.
Submission: The report including all relevant graphs and numerical analysis along with interpretations.

Format for report:

Brief Introduction
Discuss your 1st individual variable, using graphical, numerical summary and interpretation
Discuss your 2nd individual variable, using graphical, numerical summary and interpretation
Discuss your 3rd individual variable, using graphical, numerical summary and interpretation
Discuss your 1st pairing of variables, using graphical, numerical summary and interpretation
Discuss your 2nd pairing of variables, using graphical, numerical summary and interpretation
Discuss your 3rd pairing of variables, using graphical, numerical summary and interpretation
Conclusion
Project Part A Grading Rubric

Category Points % Description
Three Individual Variables – 12pts. each 36 36 graphical analysis, numerical analysis (when appropriate) and interpretation
Three Relationships – 15 pts. each 45 45 graphical analysis, numerical analysis (when appropriate) and interpretation
Communication Skills 19 19 writing, grammar, clarity, logic, cohesiveness, adherence to the above format
Total 100 100 A quality paper will meet or exceed all of the above requirements.
Project Part B: Hypothesis Testing and Confidence Intervals

Your Instructor will provide you with four manager speculations, a.-d., in the Doc Sharing file.

Using the sample data, perform the hypothesis test for each of the above situations in order to see if there is evidence to support your manager’s belief in each case a.-d. In each case use the Seven Elements of a Test of Hypothesis, in Section 6.2 of your text book, using the ? provided by your Instructor in the Doc Sharing materials, and explain your conclusion in simple terms. Also be sure to compute the p-value and interpret.
Follow this up with computing confidence intervals (the required confidence level will be provided by your Instructor) for each of the variables described in a.-d., and again interpreting these intervals.
Write a report to your manager about the results, distilling down the results in a way that would be understandable to someone who does not know statistics. Clear explanations and interpretations are critical.
All DeVry University policies are in effect, including the plagiarism policy.
Project Part B report is due by the end of Week 6.
Project Part B is worth 100 total points. See grading rubric below.
Submission: The report from part 3 + all of the relevant work done in the hypothesis testing (including Minitab) in 1., and the confidence intervals (Minitab) in 2. as an appendix.

Format for report:

Summary Report (about 1 paragraph on each of the speculations a.-d.)
Appendix with all of the steps in hypothesis testing (the format of the Seven Elements of a Test of Hypothesis, in Section 6.2 of your text book) for each speculation a.-d. as well as the confidence intervals, the p-values, and including all Minitab output
Project Part B: Grading Rubric

Category Points % Description
Addressing each speculation – 20 pts. each 80 80 hypothesis test, interpretation, confidence interval and interpretation
Summary report 20 20 1 paragraph on each of the speculations
Total 100 100 A quality paper will meet or exceed all of the above requirements.
Project Part C: Regression and Correlation Analysis

Your Instructor will specify for you the dependent variable and the independent variables in your Case and data. Using MINITAB perform the regression and correlation analysis for the data by answering the following.

Generate a scatterplot for the specified dependent variable and the specified independent variable, including the graph of the “best fit” line. Interpret.
Determine the equation of the “best fit” line, which describes the relationship between the dependent variable and the selected independent variable.
Determine the coefficient of correlation. Interpret.
Determine the coefficient of determination. Interpret.
Test the utility of this regression model (use a two tail test with the ? provided by your Instructor). Interpret your results, including the p-value.
Based on your findings in 1-5, what is your opinion about using the designated independent variable to predict the designated dependent variable? Explain.
Compute the confidence interval for beta-1 (the population slope), using the confidence level specified by your Instructor. Interpret this interval.
Using an interval, estimate the average for the dependent variable for a selected value of the independent variable (to be provided by your Instructor). Interpret this interval.
Using an interval, predict the particular value of the dependent variable for a selected value of the independent variable (to be provided by your Instructor). Interpret this interval.
What can we say about the value of the dependent variable for values of the independent variable that are outside the range of the sample values? Explain your answer.
In an attempt to improve the model, we will attempt to do a multiple regression model predicting the dependent variable based on all of the independent variables.

Using MINITAB run the multiple regression analysis using the designated dependent and independent variables. State the equation for this multiple regression model.
Perform the Global Test for Utility (F-Test). Explain your conclusion.
Perform the t-test on each independent variable. Explain your conclusions and clearly state how you should proceed. In particular, which independent variables should we keep and which should be discarded. If any independent variables are to be discarded, re-run the multiple regression, including only the significant independent variables, and include the final Minitab output, with interpretation.
Is this multiple regression model better than the linear model that we generated in parts 1-10? Explain.
All DeVry University policies are in effect, including the plagiarism policy.
Project Part C report is due by the end of Week 7.
Project Part C is worth 100 total points. See grading rubric below.
Summarize your results from 1-14 in a report that is three pages or less in length and explains and interprets the results in ways that are understandable to someone who does not know statistics.

Submission: The summary report + all of the work done in 1-14 (Minitab Output + interpretations) as an appendix.

Format for report:

Summary Report
Points 1-14 addressed with appropriate output, graphs and interpretations. Be sure to number each point 1-14.

final

Devry Math533 week 8 Final Exam Latest 2015 November

1.

Question :

(TCO A)Consider the following raw data that is the result of selecting a random sample of 15 days noting the number of claims an experienced insurance claims adjuster made each day.
31 27 25 26 29
31 25 25 26 21
40 41 31 28 42

a. Compute the mean, median, mode, and standard deviation, Q1, Q3, Min, and Maxfor the above sample data on number of claims per day.
b. In the context of this situation, interpret the Median, Q1, and Q3.

Question 2.

Question :

(TCO B) Consider the following data on customers at an office supply store. These customers are categorized by their previous volume purchases and their age.
20’s

30’s

40’s

50 or older

Total

New Customer

513

285

1,228

100

2,126

Low Volume

417

139

2,578

215

3,349

Mid Volume

250

451

7,859

801

9,361

High Volume

100

615

6,525

994

8,234

Total

1,280

1,490

18,190

2,110

23,070

If you choose one customer at random, then find the probability that the customer

a. is a new customer.
b. is a high volume customer and is in the 40’s.
c. is in the 20’s, given that the customer is low volume.

Points Received:

18 of 18

Comments:

Question 3.

Question :

(TCO B) Records of a health insurance company show that 40% of policyholders under age 30 submitted a claim during the past year. A random sample of 75 policyholders under age 30 is selected. Assuming the records are correct, then find the probability that

a. exactly 30 submitted a claim during the past year.
b. more than 32 submitted a claim during the past year.
c. at most 29 submitted a claim during the past year.

Points Received:

18 of 18

Comments:

Question 4.

Question :

(TCO B) The demand for gasoline at a local service station is normally distributed with a mean of 27,009 gallons per day and a standard deviation of 4,530 gallons per day.

a. Find the probability that the demand for gasoline exceeds 22,000 gallons for a given day.
b. Find the probability that the demand for gasoline falls between 20,000 and 23,000 gallons for a given day.
c. How many gallons of gasoline should be on hand at the beginning of each day so that we can meet the demand 90% of the time (i.e., the station stands a 10% chance of running out of gasoline for that day)?

Points Received:

18 of 18

Comments:

Question 5.

Question :

(TCO C) The Acton Paper Company employs a human resources manager who is given responsibility for employee benefits. There is a question about the mean annual dental expense per employee. The manager selects a random sample of 40 employee records for the past year and finds the following results.

Sample Size = 40
Sample Mean = $563
Sample Standard Deviation = $78

a. Construct a 90% confidence interval for the mean annual dental expense per employee.
b. Interpret this interval.
c. How large a sample size will need to be selected if we wish to have a 95% confidence interval with a margin for error of $10?

Points Received:

18 of 18

Comments:

Question 6.

Question :

(TCO C) A company contemplating the introduction of a new product wants to estimate the percentage of the market that this new product might capture. In a survey, a random sample of 100 potential customers were asked whether they would purchase this new product. The results were that 14 responded affirmatively.

a. Compute the 95% confidence interval for the population proportion of potential customers that would purchase the new product.
b. Interpret this confidence interval.
c. How many potential customers should be sampled in order to be 95% confident of being within 1% of the population proportion of potential customers that would purchase the new product?

Points Received:

18 of 18

Comments:

Question 7.

Question :

(TCO D) An article about women in business claims that 28% of all small businesses in the United States are owned by women. Sally Parks believes that this figure is overstated. A random sample of 2,000 small businesses is selected with 546 being owned by women. Does the sample data provide evidence to conclude that less than 28% of small businesses in the United States are owned by women (witha= .10)? Use the hypothesis testing procedure outlined below.

a. Formulate the null and alternative hypotheses.
b. State the level of significance.
c. Find the critical value (or values), and clearly show the rejection and nonrejection regions.
d. Compute the test statistic.
e. Decide whether you can reject Ho and accept Ha or not.
f. Explain and interpret your conclusion in part e. What does this mean?
g. Determine the observed p-value for the hypothesis test and interpret this value. What does this mean?
h. Does the sample data provide evidence to conclude that less than 28% of small businesses in the United States are owned by women (witha= .10)?

Points Received:

24 of 24

Comments:

Question 8.

Question :

(TCO D) Engineering studies show that it is feasible to install a windmill for generating electrical power if the mean wind speed is greater than 14 mi per hour (mph). The Piedmont Electric Co-op is considering locating mulls at the top of Mount Hunter. A random sample of 45 wind speed readings yields the following results.

Sample Size = 45
Sample Mean = 14.9 mph
Sample Standard Deviation = 3.8 mph

Does the sample data provide sufficient evidence to conclude that installation is feasible at this location (usinga= .10)? Use the hypothesis testing procedure outlined below.

a. Formulate the null and alternative hypotheses.
b. State the level of significance.
c. Find the critical value (or values), and clearly show the rejection and nonrejection regions.
d. Compute the test statistic.
e. Decide whether you can reject Ho and accept Ha or not.
f. Explain and interpret your conclusion in part e. What does this mean?
g. Determine the observed p-value for the hypothesis test and interpret this value. What does this mean?
h. Does the sample data provide sufficient evidence to conclude that installation is feasible at this location (usinga= .10)?

Points Received:

24 of 24

Comments:

1.

Question :

(TCO E) Management at New England Life wants to establish the relationship between the number of sales calls made each week (CALLS, X) and the number of sales made each week (SALES, Y). A random sample of 18 life insurance salespeople were surveyed yielding the data found below.
CALLS

SALES

PREDICT

57

18

50

18

2

100

61

18

48

14

58

17

48

13

29

9

43

12

51

17

32

12

59

21

32

8

39

12

54

16

37

9

21

5

62

18

44

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