Grand bus352 week 2 chapter 3 homework latest 2016

| March 29, 2017

Chapter 3

3.3 A bank branch located in a commercial district of a city has the business objective of developing an improved process for serving customers during the noon-to-1:00 p.m. lunch period. The waiting time, in minutes, is defined as the time the customer enters the line to when he or she reaches the teller window. Data are collected from a sample of 15 customers during this hour. Thefile Bank1 contains the results, which are listed below:

4.21, 5.55, 3.02, 5.13, 4.77, 2.34, 3.54, 3.20, 4.50, 6.10, 0.38, 5.12, 6.46, 6.19, 3.79

Another bank branch, located in a residential area, is also concerned with the noon-to-1:00 p.m. lunch hour. The waiting times,in minutes, collected from a sample of 15 customers during this hour, are contained in thefile Bank2 and listed here:

9.66, 5.90, 8.02, 5.79, 8.73, 3.82, 8.01, 8.35, 10.49, 6.68, 5.64, 4.08, 6.17, 9.91, 5.47

a.List the five-number summaries of the waiting times at the two bank branches.

b.Construct boxplots and describe the shapes of the distributions for the two bank branches.

c.What similarities and differences are there in the distributions of the waiting times at the two bank branches?

3.42 College football is big business, with coaches’ total pay and revenues, in millions of dollars. The fileCollege Football contains the coaches’ pay and revenues for college football at 105 of the 124 schools that are part of the Division I Football Bowl Subdivision.

Source: Data extracted from “College Football Coaches Continue to See Salary Explosion,” USA Today, November 20, 2012.

a.Compute the covariance.

b.Compute the coefficient of correlation.

c.Based on (a) and (b), what conclusions can you reach about the relationship between coaches’ total pay and revenues?

3.25 Thefile AccountingPartnerscontains the number of partners in a cohort of rising accounting firms that have been tagged as “firms to watch.” The firms have the following numbers of partners:

17, 23, 19, 23, 18, 17, 23, 16, 34, 10, 14, 30, 14, 33, 26, 17, 19, 22, 20, 27, 33, 25, 12, 26, 13, 30, 13, 13, 33, 21, 17, 12, 10, 14, 12

a.Compute the first quartile 1Q12, the third quartile 1Q32, and the interquartile range.

b.List the five-number summary.

c.Construct a boxplot and describe its shape.

3.13 Is there a difference in the variation of the yields of different types of investments? The fileCD Ratecontains the yields for one-year certificates of deposit (CDs) and five-year CDs for 22 banks in the United States, as of March 12, 2014.

Source: Data extracted from”>, March 12, 2014.

a.For one-year and five-year CDs, separately compute the variance, standard deviation, range, and coefficient of variation.

b.Based on the results of (a), do one-year CDs or five-year CDs have more variation in the yields offered? Explain.

3.8 Thefile MobileLoyaltycontains spending on products ($) during a three-month period by a sample of 15 customers receiving incentives through a mobile loyalty program.

55.35, 22.90, 67.50, 46.10, 57.45, 108.25, 50.75, 35.20, 78.30, 50.65, 63.00, 59.70, 41.55, 56.65, 52.60

a.Compute the mean and median.

b.Compute the variance, standard deviation, range, and coefficient of variation.

c.Are the data skewed? If so, how?

d.Based on the results of (a) through (c), what conclusions can you reach concerning spending on products by customers receiving incentives through a mobile loyalty program?

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