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A drug manufacturer has hundreds of sales representatives all over the United States. A histogram for yearly sales totals for each representative is roughly bell shaped and symmetric except for 4 high outliers corresponding to representatives in Boston, MA. Their sales totals are at least $60,000 greater than the next highest total. One analyst suggests dropping these 4 totals from the data to get a better summary of the sales across all regions of the country.
(a) If the outliers were to be dropped, which measure of central tendency of the data set would be aected the most { the mean, the median, or the mode? Explain why.(b) The high outliers are dropped from the data and the mean is determined to be $70,000 with a standard deviation of $8,000. For future analysis, management would like to be able to identify sales amounts that are unusually low", which they de ned as being among the lowest 2.5% of all sales amounts. Using the Empirical Rule for this data, what amount should be considered the cut-off for sales amounts being classi ed as unusually low?
If $145,000 is to be distributed as a dividend for the current year, what total amount will be distributed to the preferred stockholders?
Victor Anderson, the owner of Anderson Belts, Inc., is studying absenteeism among his employees. His workforce is small, consisting of only five employees.
In a test of a gender-selection method, 14 babies are born and 10 of them are girls. Find the number of different possible sequences of genders that are possible when 14 babies are born
Do you think this statement has any merit? Why or why not? Explain why the manager may have said it and then further substantiate his argument or compose a rebuttal.
Give a possible description why serum cholesterol values for older males are lower than for younger males and reverse is true for females.
With more then a million teachers set to retire we are seeing a record number of turnovers in the teaching profession.
Based on its 1999 survey, Student Monitor reports that 20% of U.S. college students used the Internet for job hunting during the month preceding the survey.
A grocery store manager discovers that on any given weekend 70% of the customers sales amount to more than $100. What is the probability that the first 2 sales will be over $100?
Based on your experience using ANOVA and Nonparametric tests, what additional information would you recommend to the key decision maker solve the challenges given in a company that provides software solutions to wide range of clients?
You're in charge of an experiment to evaluate a treatment which is advertised as being 90% effective at killing a particular insect. You plan an experiment in which the treatment is tested on 200 insects.
Read the data from the fictitious research study regarding diabetes and alcohol consumption, and analyze and interpret the results.
Suppose the average value of P is $ 3 and average value of Po is $ 6. Determine the price elasticity at average values of P and Po?
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