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Discussion Questions
Discussion 1: Outliers
For this discussion, you will assess the use of various support decision tools and explain why outliers are sometimes called influential observations. Discuss what could happen to the slope of a regression of Y versus a single X when an outlier is included versus when it is not included. Will this necessarily happen when a point is an outlier? You are required to give at least two examples in your response.
Discussion 2: Correlations/Linear & Multiple Regression
A golf club manufacturer is trying to determine how the price of a set of clubs affects the demand for clubs. The file P10_50.xlsx contains the price of a set of clubs and the monthly sales.
Price
Demand
$400
20,000
$420
19,000
$440
17,000
$460
16,000
$500
14,000
$380
22,000
$290
31,000
$340
26,000
$220
41,000
$700
6,000
Assume the only factor influencing monthly sales is price. Fit the following three curves to these data: linear (Y = a + bX), exponential (Y = abX), and multiplicative (Y = aXb). Which equation fits the data best?
Interpret your best-fitting equation.
Using the best-fitting equation, predict sales during a month in which the price is $470.
In the discussion area, attach the Excel document showing work.
SPC is one of a number of tools which can be used to improve manufacturing quality standards - Outline two techniques which can be used to decide where to put SPC effort most effectively.
Test the claim that with garlic treatment, the mean change in LDL cholesterol is greater than 0. What do the results suggest about the effectiveness of the garlic treatment?
Find the mean, median and mode of this information and what are the range and standard deviation - Use the Empirical Rule to establish an interval which includes about 95 percent of the observations.
A researcher wishes to estimate, with 95%confidence, the population proportion of adults who think the president of their country can control the price of gasoline. Her estimate must be accurate within 55%of the true proportion. a) No preliminary est..
A quality control analyst measures the number of hours a patient in a low-risk condition waits for care at the emergency room of a small hospital. The following data are obtained for 20 patients.
What do the results tell us about our hypotheses? What conclusions can we draw from these results? What conclusions can we NOT make using these results?
The length of time a system is "down" (that is, broken) is described (approximately) by the probability distribution in the Table 7.6.2. Assume that these downtimes are exact. That is, there are three types of easily recognized problems that always t..
The probability that a given bird house will be returned for a refund is 0.04. Suppose that 30 bird houses are sold on a particular day. Find the probability that exactly 2 of those bird houses will be returned for a refund.
Describe the assumptions of normality and homogeneity of variance. When these assumptions are violated, what are your options? Are there cases in which the assumptions may technically be violated, yet have no impact on your intended analyses? Explain
What is the critical path and project completion time for the budgeting process and what is the cost to complete the project based on the Normal Times?
What influences the probability of a Type II error?- What is the difference between statistical significance and practical significance?
First urn contains 3 yellow marbles, 4 green, and 2 red. The second urn contains 2 yellow, 3 green, and 4 red. P (choosing first urn) = 1/4 and P (second urn) = 3/4
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