QMB6357 Quantitative Methods FinalExam FALL 2015
This remaining examination is comprised of eight worksheets masking varied key subjects of theHarvard totally on-line eLearning course on Quantitative Strategies.Full the examination as in the event you have been submitting this workbook to a lay particular person notfamiliar with quantitative strategies such that they might simply perceive yourarguments, graphs, mathematical proof and conclusions.Please present your entire work. It isn't sufficient to easily get proper solutions on thisExam or to simply clarify the mathematical course of in a textual content field; you will need to present yourwork to display that YOU know how one can arrive at correcAt solutions utilizing Excelcalculations, features, and/or applicable utility. If a utility is used, the particular utilitymust be pasted to the respective worksheet.There's a deadline for the submission of this examination. You might be accountable forsubmitting this accomplished workbook to your coach earlier than the deadline. UseLastname.Firstname.FinalExam because the file identify of your doc.Good Luck!Prof. KyparisisName:PID #:Assist Desk CallsDay#Calls12345678910111213141516171819202122232425262728293031323334353637383940414243444546474849505152535455565758596061626364656667686970717273747545305369674517463233597442353818416372434544484867724152754034408863384845501508428375244497075582362107180704147993829836054354651587286484851626285150Q-1a. You run a name middle and are involved about buyer supportservice ranges on the Assist Desk. You wish to know what number of callsper day are dealt with by your assist desk employees. You gather the information atleft over a 75-day interval. Use applicable descriptive statistics tomake sense of this information. Use an applicable graph additionally. Explainyour findings in order that your non-quantitative associate will understandthem. (5 pts.)Gross sales$1,695,712.62$three,403,862.05$2,710,352.91$529,215.46$663,686.65$2,546,324.34$2,787,Zero46.20$612,696.05$891,822.03$1,124,967.97$909,500.98$2,631,166.88$882,972.65$1,078,573.12$844,320.19$1,849,119.03$three,860,Zero07.32$826,573.88$604,682.87$1,903,611.60$2,356,808.39$2,788,571.96$1,634,878.29$2,371,627.37$2,627,837.96$1,868,116.33$2,236,796.86$1,318,876.23$1,868,Zero97.84$1,695,218.57$2,700,194.42$1,156,Zero49.77$643,858.44Age33.1632.6735.6633.0735.7633.8130.9830.7832.3232.5331.4433.1631.8733.4134.0528.8936.1132.8133.0533.5032.6828.5232.8930.5030.2931.2933.0532.9331.8431.0832.1831.6934.03Growth0.82990.66190.96880.08210.46462.17961.8048-Zero.0569-Zero.15770.36642.22561.51580.1413-1.04001.68362.35960.78400.11641.14980.06061.63381.12561.48844.79371.89221.86671.78960.27073.01293.46300.7041-Zero.15690.7084Earnings$26,748.51$53,063.79$36,090.14$32,058.07$47,843.42$50,180.97$30,710.08$29,141.70$55,980.15$28,730.88$31,109.23$55,614.12$23,038.43$34,531.72$30,350.36$38,964.94$49,392.77$25,595.69$29,622.61$31,586.10$49,674.56$28,878.98$24,287.08$46,711.24$43,449.81$31,694.45$45,459.22$47,047.34$26,433.24$33,396.66$26,179.36$33,454.64$42,271.50HSCollege73.5988.4673.5479.1884.1893.5078.0270.2970.6763.7476.9182.9565.2173.4980.2287.6085.3065.5980.6280.3879.8581.2470.2287.1080.2175.2977.6285.1874.1881.7073.4173.7278.6517.835031.943918.619820.628435.203241.705728.025015.088210.982913.245819.550020.813516.979632.992022.318524.567030.879017.454518.635638.324923.778016.930019.142930.884326.557028.360019.249035.499418.637541.113017.856626.542629.8734Can demographic info be useful in predicting gross sales at sporting items shops? The info at left are month-to-month salestotals from a random pattern of 33 shops in a big chain of nationwide sporting items shops. All shops within the franchise,and thus throughout the pattern, are roughly the identical dimension and carry the identical merchandise. The county, or in somecases counties, through which the shop attracts nearly all of its clients is referred to right here because the buyer base. For eachof the 33 set are:Gross sales ------Newest one month gross sales whole ()Earnings ---Median household earnings of buyer base ()Age --------Median age of buyer base (years)HS ----------Share of buyer base with a highschool diplomaCollege ---Share of buyer base with a university diplomaGrowth ---Annual inhabitants development charge of buyer base over the previous 10 years._______________________________________________________________________________________Q-2a. Assemble a scatter plot, utilizing gross sales because the dependent variable and median household earnings as theindependent variable. Talk about the scatter plot. (5 pts.)______________________________________________________________________________________Q-2b. Assuming a linear relationship, use the least-squares technique to compute the regression coefficientsb0and b1 and state the regression equation. (5 pts.)______________________________________________________________________________________Q-2c. Interpret the that means of the Y-intercept, b0, and the slope, b1, on this drawback. (5 pts.)______________________________________________________________________________________Q-Second. Compute the coefficient of dedication r2, and interpret its that means. (5 pts.)______________________________________________________________________________________Q-2e. Assemble a 95% confidence interval estimate of the inhabitants slope and interpret its that means. ( 5 pts.)Q-3a. A pattern of scholars from an introductory psychology class have been polled concerning the variety of hours they spent learning for the final examination.All college students anonymously submitted the variety of hours on a three by 5 card. There have been 24 people within the one part of the course polled. The datawas used to make inferences concerning the opposite college students taking the course. Assemble a 95% confidence interval estimate . Clarify your findings sothat your non-quantitave associate will perceive them. Their information is beneath: (5 pts.)20187.511103.57.518192.591491414.517224.510.51558.5820_____________________________________________________________________________________________________________Q-3b. A pattern of Alzheimer's sufferers are examined to evaluate the quantity of time (in minutes) in stage IV sleep. It has been hypothesized that individualssufferering from Alzheimer's Illness might spend much less time per evening within the deeper phases of sleep. The variety of minutes spent is Stage IV sleep isrecorded for thirty sufferers (discuss with pattern information beneath of stage IV sleep over a 24 hour interval). Compute a 95 p.c confidence interval for this information.What does this info inform you a couple of specific particular person's (an Alzheimer's affected person) stage IV sleep? Clarify your findings in order that your nonquantitative associate will perceive them. (5 pts.)Stage IV Sleep in Minutes28.537.418.553.261.318.7533.927.173.053.466.Zero20.551.757.2535.633.425.165.355.035.019.2581.544.128.736.532.247.341.739.7518.3_____________________________________________________________________________________________________________Q-3c. A big retail corportation plans to pattern gross sales receipts of its meat division to estimate the typical dimension (in ) of a buyer buy.Earlier evaluation recommend that the usual deviation of the acquisition quantity is roughly $50.72. As a way to calculate a 95% confidence intervalof the full width lower than $6.50, what number of gross sales receipts ought to the corportion embrace within the pattern? Clarify your findings in order that your nonquantitative associate will perceive them. (5 pts.)_____________________________________________________________________________________________________________Q-3d. A survey of 850 employees have been requested how a lot they used the Web at work. 578 mentioned they used the web inside limits, and 255 mentioned thatthey didn't use the Web at work. Assemble a 95% confidence interval estimate for the proportion of all employees who didn't use the Web withinlimits. Clarify your findings in order that your non-quantitative associate will perceive them. (5 pts.)_____________________________________________________________________________________________________________Q-3e. You're the designer in your firm's web page. You may have information to point out that the imply obtain time for the homepage is 5.eight seconds andthat the usual deviation of obtain time is 2.1 seconds. If we assume that the obtain instances are usually distributed, what p.c of customers willwait between four and eight seconds for the homepage to obtain? Clarify your findings in order that your non-quantitative associate will perceive them. (5pts.)Q-4a. You're the supervisor of a well-liked retail retailer. You wish to decide whether or not the inhabitants imply wait time for buyer tocheck-out has modified previously month from its earlier inhabitants imply worth of four.25 minutes. From previous expertise, youcan assume that the inhabitants is generally distributed with a inhabitants normal deviation of 1.6 minutes. You choose a sampleof 43 clients wait time to check-out throughout a one hour interval. The pattern imply is four.75 minutes. Decide whether or not thereis proof on the Zero.05 stage of significance that the inhabitants imply wait time to check-out has modified previously month fromits earlier inhabitants imply worth of four.25 minutes. Clarify your findings utlizing info from the speculation take a look at youconduct. (5 pts.)_______________________________________________________________________________________________________________________Q-4b. You're the supervisor of a fast-food restaurant. Primarily based on a pattern of two-hundred fifty drive-through orders, you found thatorders have been stuffed appropriately 86.5% of the time. In an effort to enhance the quantity of orders stuffed appropriately, you developed a newprocess to fill orders. After sampling two-hundred fifty orders beneath this new course of, the outcomes reviled that 225 orders werefilled appropriately. On the Zero.01 stage of significance, are you able to conclude that the new course of inhabitants proportion of orders filledcorrectly is increased than the proportion of orders stuffed beneath the outdated course of? Clarify your findings using info from thetest you conduct. (5 pts.)Subcompact320520160160300120520440300170150300180160150400170180260240320260150320180140220Compact515260325470300530265235265320200160330250460Q-5a. One of many vital options of a digicam is the battery lifeas measured by the variety of pictures taken till the batteryneeds to be recharged. The info at left comprise the batterylife of 27 subcompact cameras and 15 compact cameras.Assuming that the inhabitants variances from each varieties ofdigital cameras are equal, is there proof of a differencein the imply battery life between the 2 kinds of digitalcameras on the 95% confidence stage? (5 pts.)Value$309.60$307.40$340.30$346.50$298.20$337.80$324.10$313.20$327.80$325.30$308.50$381.30$337.40$346.20$342.40$323.70$329.60$343.60$360.70$348.30Rooms78912691089861310109889119Neighborhood00000000000000111111An actual property Affiliation in a suburban group wish to examine therelationship between the dimensions of a single-family home (as measured by quantity ofrooms) and the promoting worth of the home (in hundreds of ). Two differentneighborhoods are included within the examine, one on the east aspect of the group (=Zero)and the opposite on the west aspect (=1). A random pattern of 20 homes was selectedwith the outcomes given at left._____________________________________________________________Q-6a. State the a number of regression equation that predicts the promoting pricebased on the variety of rooms within the neighborhood. (5 pts.)_____________________________________________________________Q-6b. Interpret the regression coefficients. (5 pts.)_____________________________________________________________Q-6c. Predict the promoting worth for a home with 10 rooms that's situated in aEast-side neighborhood. Clarify your findings in order that your nonquantitative associate will perceive them. (5 pts.)_____________________________________________________________Q-6d. Compute and interpret the adjusted r2. (5 pts.)Q-7a. The administration of a financial institution within the Caribbean was involved concerning the potential loss thatmight happen within the occasion of a hurricane. The financial institution estimated that the loss from one in all thesestorms could possibly be as a lot as $120 million together with losses because of interrupted service and customerrelations. One undertaking the financial institution is contemplating is the set up of an emergency energy generatorat its operations headquarters. The price of the emergency generator is $550,000, and if it isinstalled no losses from one of these storm will likely be incurred. Nevertheless, if the generator is notinstalled, there's a 10% probability energy outage will happen in the course of the subsequent 12 months. If there's anoutage there's a 5% chance that the ensuing losses will likely be very giant or roughly $135million in misplaced earnings. Alternatively it's estimated that there's a 95% chance of solely slightlosses of round $1.1 million. Utilizing choice tree evaluation, decided whether or not the financial institution shouldinstall the brand new energy generator. (5 pts.)Payoff TableDecision (Buy)Residence buildingOffice buildingWarehouseGood EconomicConditions50%$80,250$125,250$52,750Poor EconomicConditions50%$33,850-$1,550$40,250An investor is to buy one in all three kinds of actual property. The investor should determine amongan house constructing, an workplace constructing, and a warehouse. The longer term states of nature that willdetermine how a lot revenue the investor will make are good financial circumstances and pooreconomic circumstances. The income that may outcome from every choice within the occasion of every state ofnature are proven above._________________________________________________________________Q-8a. Which funding has the best EMV and what's the anticipated worth ofperfect info on this drawback ? Clarify your findings in order that your nonquantitative associate will perceive them. (5 pts.)