Is the distribution of salaries skewed

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Reference no: EM131295837

Problem 1- Hockey Salary Data

Questions:

1 What is the mean salary for the hockey players listed?

2 What is the median salary for the hockey players listed?

3 What is the mode of the salaries for the hockey players listed?

4 What is the minimum salary for the hockey players listed?

5 What is the maximum salary for the hockey players listed?

6 Construct a Histogram with the minimum salary value being 0 and interval size being 100,000.Be sure your chart has proper labels and title.

7 Is the distribution of salaries skewed? If so, how is it skewed?

8 Is the kurtosis of the distribution of salaries leptokurtic, mesokurtic or platykurtic?

9 How many Left Wingers "LW" are contained in the data set?

10 What is the percentage of players that make $925,000 or less per year?

Problem 2- Hot Dog Price Sensitivity Meter

The Chicago Blackhawks want to know how much to charge for a new gourmet hot dog at their concession stands. They have hired you to analyze data and report your findings. Construct a Van Westendorp price sensitivity meter (PSM) using the survey results below to find:

1. the indifference price point

2. the point of marginal cheapness

3. the point of marginal expensiveness 4. the optimal price point.

Problem 3- Budweiser Beer Scenario

The Chicago Blackhawks have hired you to conduct an analysis of their Budweiser Beer sales.
1 Conduct a breakeven analysis for their Budweiser Beer sales with quantity starting at zero and increasing sales by units of 100 up to 5000

2 How many Budweisers to the Blackhawks have to sell to breakeven? (round to the nearest whole numner)

3 Construct a breakeven line chart with the appropriate labels and title.

4 Complete the Budweiser Beer Scenario table below. Every column should be based on the initial condition

Problem 4- Jersey Sales

The Blackhawks want to know if there is a difference in the likelihood a person will buy a jersey if the they win the Stanley Cup based on age. Two samples were taken; People over 25 and 25 and younger.

1 Calculate the average response for each group

2 Using 5 intervals for all data, identify the frequency distributions of responses for both samples

3 Plot the frequency distributions for each category on the same column chart

4 Conduct a t-test to determine the significance of the differences between sample measurements

a. How many tails should be used in the t-test?

b. What type of data is this: paired, homoscedastic, heterosceddastic?

c. What is the p-value of the t-test?

d. What is the likelihood that a random sample error alone could explain the differences in the measurements?

5 At a 5% significance level

a. Is the P-value greater than or less than alpha?

b. Should you reject or fail to reject the null hypothesis?

c. Are the differences due to random sample error or are the samples taken from different populations?

6 In plain English, give a complete, one sentence interpretation of the result appropriate for managerial decision making.

Problem 5- Blackhawks Viewership

The Blackhawks have asked you to determine if the proximity to United Center is related to watching Blackhawks games. A survey has been conducted to determine the percentage of people who watch Blackhawks games. The survey results are displayed to the left. *Please note Distance is your independent variable and Percentage of Game Watchers is your dependent variable.*

1. Create a scatter plot placing the percentage of individuals that watch Blackhawks games against distance to the United Center. (Y is your dependent variable, X is your independent variable) Be sure to include a trend line.

2. Conduct a Regression Analysis using excel

a- Calculate the correlation and comment on it's strength

b- What is the expected percentage of people who watch Blackhawks games on a weekly basis who live 400 miles away from the United Center?

c- What is the expected percentage of people who watch Blackhawk games on a weekly basis who live 1200 miles away from the United Center?

d- What is the expected percentage of people who watch Blackhawks games on a weekly basis who live 30 miles away from the United Center?

Bonus Question: Based on the regression equation, what is the percentage of people who watch Blackhawks games who live one mile away from the United Center? Does this make sense? Explain why or why not.

Attachment:- mkt_202_final_fall_2016.rar

Reference no: EM131295837

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