Reference no: EM13740910

Problem 1

The cost of 14 models of digitals cameras at a camera specialty store during 2014 was as follows:

340 450 450 280 220 340 290 370 400 310 340 430 270 380

1. Compute mean, median, mode, first and third quartile.

2. Compute the variance, standard deviation, range, interquartile range, coefficient of variation, standard error of the mean and Z scores.

3. Determine whether or not there are outliers? Explain.

4. Determine whether or not the data are skewed? If so, how?

5. Based on the previous results what conclusions can you reach concerning the price of digital cameras at a camera specialty store during 2014.

6. Construct a 90%, 95%, 99% confidence interval for the population mean cost of digitals cameras.

7. Interpret the meaning of each interval.

8. What assumption do you need to make about the population of interest to construct the confidence intervals?

Problem 2

Consider the sample data for plants A, B, C & D of the above company, which are tabulated in table 1. Test whether the four means are equal at the 5% level of significance. Perform a test that will compare all 4 means at once. We are not interested in pair-wise comparisons at this stage. Please show all the steps in your calculations.

Table 1:
A B C D
333 328 320 333
332 329 321 321
320 323 322 329
326 327 325 330
328 330 326 328
325 331 328 325
323 332 329 333
321 320 330 331
334 324 331 327
322 323 332
320 334
329
330
328
331
330

Problem 3

Part A.

1. Develop a 95% confidence interval using data from this study.

2. Perform a hypothesis testing using data from this study. (show all the the appropriate steps).

3. Suggest another statistical technique(s) for the purpose of this study. Explain.

Part B.

For this study briefly describe how the researcher draw conclusions from a sample about a population. Try to be as analytic as possible and use the comments bellow.

1. Determine (or define) the independent variable(s).

2. Determine (or define) the dependent variable(s).

3. Determine (or define) qualitative and quantitative variable(s).

4. Determine (or define) the sample and the population.

5. Describe the statistical method(s) being used and define inferential statistics. Interpret the meaning of p-value.