CramX Logo
Statistical Analysis and Hypothesis Testing: A Comprehensive Assessment of Sales, Probabilities, Confidence Intervals, and Hypothesis Tests - Document preview page 1

Statistical Analysis and Hypothesis Testing: A Comprehensive Assessment of Sales, Probabilities, Confidence Intervals, and Hypothesis Tests - Page 1

Document preview content for Statistical Analysis and Hypothesis Testing: A Comprehensive Assessment of Sales, Probabilities, Confidence Intervals, and Hypothesis Tests

Statistical Analysis and Hypothesis Testing: A Comprehensive Assessment of Sales, Probabilities, Confidence Intervals, and Hypothesis Tests

Covers probability, confidence intervals, and hypothesis testing in sales.

Amelia Ward
Contributor
4.9
0
12 months ago
Preview (3 of 7 Pages)
100%
Log in to unlock
Page 1 of 3
Statistical Analysis and Hypothesis Testing: A Comprehensive Assessment of Sales, Probabilities, Confidence Intervals, and Hypothesis Tests - Page 1 preview imageStatistical Analysis and Hypothesis Testing: A Comprehensive Assessmentof Sales, Probabilities, Confidence Intervals, and Hypothesis Tests1.(TCO A) Seventeen salespeople reported the following number of sales callscompleted lastmonth.72 93 82 81 82 97 102 107 11986 88 91 83 93 73 100 102a. Compute the mean, median, mode, and standard deviation, Q1, Q3, Min, andMax for the above sample data on number of sales calls per month.The required values are given below,b. Inthe context of this situation, interpret the Median, Q1, and Q3. (Points : 33)The median is the middlemost value of the ordered data. Here the median is 91which tells us that 50%(or more) of the values are less than equal to 91 and50%(or more) are more than equal to the value 91 for the given data. Similarly forQ1, 25% (or more) are less than equal to 82 and 75%(or more) are more thanequal to82. And for the 3rdquartile or Q3 the interpretation is same (its 75% lessthan and 25% more than).2.(TCOB) Consider the following data on newly hired entry-level employees inrelation to how many previous positions they have held and which part of thecountry they were born.Mean91.2353Median91Mode93Standard Deviation12.3770Q182Q3100Min72Max119
Page 2 of 3
Statistical Analysis and Hypothesis Testing: A Comprehensive Assessment of Sales, Probabilities, Confidence Intervals, and Hypothesis Tests - Page 2 preview image
Page 3 of 3
Statistical Analysis and Hypothesis Testing: A Comprehensive Assessment of Sales, Probabilities, Confidence Intervals, and Hypothesis Tests - Page 3 preview imageIf you choose one person at random, then find the probability that thepersona. had 0 previous positions.Required Probability =1150b. is from the West and had three or more previous positions.Required Probability =550=0.1c. had only one previous position, given that the person is from the Midwest.(Points : 18)Required Probability =918=0.53.(TCO B) SILCHIPS corporation is a larger manufacturer of widgets. Historically,they have maintained a defective rate of 1.8%. You purchase 100 widgets (whichrepresents a random sample). Find the probability thata.exactly three are defective.Required Probability =0.1607b. at least five are defective.Required Probability =0.0364c. fewer than four are defective. (Points : 18)Required Probability =0.89134.(TCO B) At a local supermarket the monthlycustomer expenditure follows anormal distribution with a mean of $495 and a standard deviation of $121.a. Find the probability that the monthly customer expenditure is less than $300for a randomly selected customer.EastMidwest WestTotal0371111597212228123 or more1056Total11182150
Preview Mode

This document has 7 pages. Sign in to access the full document!