Reference no: EM132205933

Question: 1. For this submission, you will be given a series of scenarios and small collections of data. You should plot the data or calculate probabilities using excel. Then, you will create your own real or hypothetical scenario to graph and explain.

Answer the following:

The mean temperature for the month of July in Boston, Massachusetts is 73 degrees Fahrenheit. Plot the following data, which represent the observed mean temperature in Boston over the last 20 years:

1998	72
1999	69
2000	78
2001	70
2002	67
2003	74
2004	73
2005	65
2006	77
2007	71
2008	75
2009	68
2010	72
2011	77
2012	65
2013	79
2014	77
2015	78
2016	72
2017	74

• Is this a normal distribution? Explain your reasoning.

• What is an outlier? Are there any outliers in this distribution? Explain your reasoning fully.

• Using the above data, what is the probability that the mean will be over 76 in any given July?

• Using the above data, what is the probability that the mean will be over 80 in any given July?

2. A heatwave is defined as 3 or more days in a row with a high temperature over 90 degrees Fahrenheit. Given the following high temperatures recorded over a period of 20 days, what is the probability that there will be a heatwave in the next 10 days?

Day 193Day 288Day 391Day 486Day 592Day 691Day 790Day 888Day 985Day 1091Day 1184Day 1286Day 1385Day 1490Day 1592Day 1689Day 1788Day 1890Day 1988Day 2090

Customer surveys reveal that 40% of customers purchase products online versus in the physical store location. Suppose that this business makes 12 sales in a given day

Does this situation fit the parameters for a binomial distribution? Explain why or why not?

Find the probability of the 12 sales on a given day exactly 4 are made online

Find the probability of the 12 sales fewer than 6 are made online

Find the probability of the 12 sales more than 8 are made online

Your own example:

1. Choose a company that you have recently seen in the news because it is having some sort of problem or scandal, and complete the following:

• Discuss the situation, and describe how the company could use distributions and probability statistics to learn more about how the scandal could affect its business.

• If you were a business analyst for the company, what research would you want to do, and what kind of data would you want to collect to create a distribution?

• Would this be a standard, binomial, or Poisson distribution? Why?

• List and discuss at least 3 questions that you would want to create probabilities for (e.g.,What is the chance that the company loses 10% of its customers in the next year?).

• What would you hope to learn from calculating these probabilities?

• Assuming that upper management does not see the value in expending the time and money necessary to collect data to analyze, make an argument (at least 100 words) convincing them that the expenditure is necessary and explaining some dangers the company could face by not knowing what the data predict.