ECO 100 Week 1 Assignment

 This work contains QNT 561 Week 4 Individual Assignment Types of Surveys Paper


 Individual Assignment: Types of Surveys Paper

 Resource: Business Research Methods

 Answer question 5 on p. 270 of Business Research Methods.

 Write a 150- to 200-word response for each part of the question. Provide a rationale to support your answers.




Mathematics - Statistics
 1. Consider the following raw data, which is the result of selecting a random sample of 20 condominium sales in a particular development.  The sale prices are given in thousands of dollars ($1,000s).

 131  142  120  135  126

 153  135  131  126  133

 147  137  130  126  140

 138  144  132  132  138

 1a.  Compute the mean, median, mode, and standard deviation, Q1, Q3, Min, Max for the above sample data on sale prices.

 1b.  In the context of this situation, interpret the Median, Q1, and Q3.

 2.  Consider the following data on newly hired employees in relation to which part of the country they were born and their highest degree attained.

 HS  BS  MS   PHD  Total

 East  3  5  2  1  11

 Midwest  7  9  2  0  18

 South  5  8  6  2  21

 West  1  7  8  6  22

 Total  16  29  18  9  72

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


 Has a PHD
 Is from the East and has a BS as the highest degree attained.
 Has only a HS degree, given that person is from the West.

 3.  Historically, 70% of your customers at Rodale Emporium pay for their purchases using credit cars.  In a sample of 20 customers, find the probability that


 Exactly 14 customers will pay for their purchases using credit cards.
 At least 10 customers will pay for their purchases using credit cards.
 At most 12 customers will pay for their purchases using credit cards.



 4.  Pharmacies continually monitor their prescription filling process.  A local pharmacy has noted that the time to fill a prescription for a generic antibiotic is normally distributed, with a mean of 13.3 minutes and a standard deviation of 2.8 minutes.


 find the probability that a prescription for a generic antibiotic takes at least 10 minutes to fill.
 Find the probability that the prescription for a generic antibiotic takes between 12 and 15 minutes to fill.
 The slowest 20% of prescriptions fills result in a special discount to the customer.  How long must a prescription fill for a generic antibiotic take in order to qualify for this discount?

 5.  A survey is taken of U.S. companies that do business with firms in India.  One of the questions in the survey was: “Approximately how many years has your company been trading with firms in India?”  A random sample of 44 responses to this question yields the following results:

 Sample

 Sample years

 Sample Standard years


 Compute 95% confidence interval for the population mean number of years of trading with firms in India.
 Interpret this interval.
 How many firms should be sampled if we wish to generate a 95% confidence interval for the mean number of years of trading with firms in India that is accurate to within 1 year?



 6.  A marketing research firm wishes to estimate the proportion of adults who are planning to buy a new car in the next 6 months.  A simple random sample of 100 adults led to 22 who were planning to buy a new car in the next 6 months.


 Compute the 95% confidence interval for the proportion of adults who


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