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HA1011: Applied Quantitative Methods - Baggage’s Showroom - Applied Quantitative Methods Assignment Help
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Construct a frequency distribution using 10 classes, stating the Frequency, Relative Frequency,
a.Cumulative Relative Frequency and Class Midpoint
b. Using (a), construct a histogram. (You can draw it neatly by hand or use Excel)
c. Based upon the raw data (NOT the Frequency Distribution), what is the mean, median and mode?
(Hint – first sort your data. This is usually much easier using Excel.)
2.
a. Is above a population or a sample? Explain the difference.
b. Calculate the standard deviation of the number of flights at the airport. Show your working (Hint – remember to use the correct formula based upon your answer in (a).)
c. Calculate the Inter Quartile Range (IQR) of the number of baggage’s sold. When is the IQR more
useful than the standard deviation? (Give an example based upon number of number of baggage’s sold.)
d. Calculate the correlation coefficient. Using the problem, we started with, interpret the correlation
coefficient. (Hint – you are the showroom manager. What does the correlation coefficient tell
you? What would you do based upon this information?)
3.
a. Calculate AND interpret the Regression Equation. You are welcome to use Excel to check your
calculations, but you must first do them by hand. Show your workings.
(Hint 1 - As manager, which variable do you think is the one that affects the other variable? In
other words, which one is independent, and which variable’s value is dependent on the other
variable? The independent variable is always x.
Hint 2 – When you interpret the equation, give specific examples. What happens when there is a
holiday? What happens when 10 extra flights arrived?)
b. Calculate AND interpret the Coefficient of Determination.
4.
a. What is the probability that a randomly chosen player will be from your club members OR
receiving Grassroots training?
b. What is the probability that a randomly selected player will be External AND be in scientific
training?
c. Given that a player is from club members, what is the probability that he is in scientific training?
d. Is training independent from recruitment? Show your calculations and then explain in your own
words what it means.
5.An electronic company is considering launching one of 3 new products: TV, Radio or LCD screens, for
its existing market. Prior market research suggest that this market is made up of 4 consumer segments:
segment A, representing 60% of consumers, is primarily interested in the functionality of products;
segment B, representing 20% of consumers, is extremely price sensitive; and segment C representing 10%
of consumers is primarily interested in the appearance and style of products. The final 10% of the
customers (segment D) are after services conscious.
To be more certain about which product to launch and how it will be received by each segment, market
research is conducted. It reveals the following new information.
. The probability that a person from segment A prefers TV is 30%
. The probability that a person from segment B prefers TV is 40%
.The probability that a person from segment C prefers TV is 50%
The company would like to know the probably that a consumer comes from segment A if it is
known that this consumer prefers TV over Radio.
6.
A festival sells 2 million tickets at 2$ each. Let the random variable X denote the amount won for a ticket
that is purchased. Shown below is the distribution of x. compute the mean and standard deviation of the
amount won per ticket. Interpret the mean value. What is the expected profit from the festival?
7.The average speed of passenger trains travelling from Kyoto to Tokyo have been found to be normally
distributed with a mean of 250 km per hour and a standard deviation of 30 km per hour.
a. What is the probability that a train will average less than 200 km per hour?
b. What is the probability that a train will average more than 300 km per hour?
c. What is the probability that a train will average between 210 and 280 km per hour?
8. Having used people-counting devices at the entry to shopping centre, it is known that the average number
of shoppers visiting this centre during any one-hour period is 448 shoppers, with a standard deviation of
21 shoppers. What is the probability that a random sample of 49 different one-hour shopping periods will
yield a sample mean between 441 and 446 shoppers?
Applied Quantitative Methods Assignment Help
TASK 1.
Construct a frequency distribution using 10 classes, stating the Frequency, Relative Frequency,
a.Cumulative Relative Frequency and Class Midpoint
b. Using (a), construct a histogram. (You can draw it neatly by hand or use Excel)
c. Based upon the raw data (NOT the Frequency Distribution), what is the mean, median and mode?
(Hint – first sort your data. This is usually much easier using Excel.)
2.
a. Is above a population or a sample? Explain the difference.
b. Calculate the standard deviation of the number of flights at the airport. Show your working (Hint – remember to use the correct formula based upon your answer in (a).)
c. Calculate the Inter Quartile Range (IQR) of the number of baggage’s sold. When is the IQR more
useful than the standard deviation? (Give an example based upon number of number of baggage’s sold.)
d. Calculate the correlation coefficient. Using the problem, we started with, interpret the correlation
coefficient. (Hint – you are the showroom manager. What does the correlation coefficient tell
you? What would you do based upon this information?)
3.
a. Calculate AND interpret the Regression Equation. You are welcome to use Excel to check your
calculations, but you must first do them by hand. Show your workings.
(Hint 1 - As manager, which variable do you think is the one that affects the other variable? In
other words, which one is independent, and which variable’s value is dependent on the other
variable? The independent variable is always x.
Hint 2 – When you interpret the equation, give specific examples. What happens when there is a
holiday? What happens when 10 extra flights arrived?)
b. Calculate AND interpret the Coefficient of Determination.
4. a. What is the probability that a randomly chosen player will be from your club members OR
receiving Grassroots training?
b. What is the probability that a randomly selected player will be External AND be in scientific
training?
c. Given that a player is from club members, what is the probability that he is in scientific training?
d. Is training independent from recruitment? Show your calculations and then explain in your own
words what it means.
5.An electronic company is considering launching one of 3 new products: TV, Radio or LCD screens, for
its existing market. Prior market research suggest that this market is made up of 4 consumer segments:
segment A, representing 60% of consumers, is primarily interested in the functionality of products;
segment B, representing 20% of consumers, is extremely price sensitive; and segment C representing 10%
of consumers is primarily interested in the appearance and style of products. The final 10% of the
customers (segment D) are after services conscious.
To be more certain about which product to launch and how it will be received by each segment, market
research is conducted. It reveals the following new information.
. The probability that a person from segment A prefers TV is 30%
. The probability that a person from segment B prefers TV is 40%
.The probability that a person from segment C prefers TV is 50%
The company would like to know the probably that a consumer comes from segment A if it is
known that this consumer prefers TV over Radio.
6.
A festival sells 2 million tickets at 2$ each. Let the random variable X denote the amount won for a ticket
that is purchased. Shown below is the distribution of x. compute the mean and standard deviation of the
amount won per ticket. Interpret the mean value. What is the expected profit from the festival?
7.The average speed of passenger trains travelling from Kyoto to Tokyo have been found to be normally
distributed with a mean of 250 km per hour and a standard deviation of 30 km per hour.
a. What is the probability that a train will average less than 200 km per hour?
b. What is the probability that a train will average more than 300 km per hour?
c. What is the probability that a train will average between 210 and 280 km per hour?
8. Having used people-counting devices at the entry to shopping centre, it is known that the average number
of shoppers visiting this centre during any one-hour period is 448 shoppers, with a standard deviation of
21 shoppers. What is the probability that a random sample of 49 different one-hour shopping periods will
yield a sample mean between 441 and 446 shoppers?