1. Using the Data Set, create and
calculate the following in Excel®:
Determine the range of values in which you would expect to find
the average weekly sales for the entire sales force in your company
90% of the time, and calculate the following:
A. The impact of increasing the confidence level to 95%
B. The impact of increasing the sample size to 150, assuming the
same mean and standard deviation, but allowing the confidence level
to remain at 90%...
A large data set is separated into a training set and a test
set.
(a) Is it necessary to do this randomly? Why or why not?
(b) In R how might this separation be done in a reproducible
way?
(c) The statistician chooses 20% of the data for training and
80% for testing. Comment briefly on this—2 or 3 lines would be
plenty.
Solve each measuring problem, or explain why it can’t be done.
(You have unlimited water.)
Using 6 and 15 gallon jugs, measure
(i) 3 gallons (ii) 4 gallons (iii) 5 gallons
If you were given a large data set, such as the sales
over the last year of our top 100 customers, what might you be able
to do with these data? What might be the benefits of describing the
data?
Using a set of data, you will graph a budget constraint and
express it as an algebraic equation. You will also determine the
combination of two goods that gives the maximum total utility.
Instruction: Suppose that as a consumer you have $34 per month
to spend for munchies, either on pizzas which cost $6 each or on
Twinkies which cost $4 each. Suppose further that your preferences
are given by the following total utility table.
Count
1
2
3
4...
Please find the range, sample standard deviation and
inter-quartile range (IQR) of the following data set using
TI-84.
34
41
44
46
46
50
54
69
80
96
range = _____ (Please enter an exact answer.)
standard deviation (ss) = _______ (Please show your answer to one
decimal place.)
Inter-Quartile-Range (IQR) = ________ (Please enter an exact
answer.)
A new number, 112, is added to the data set above. Please find the
new range, sample standard deviation and IQR of...
We have been using the same set of data (Data Set One) in the
notes to illustrate production and costs. I have provided Data Set
One in both tables below. When costs were calculated in the notes,
fixed costs were $200. By using the term fixed costs economists are
only referring to the fact that a firm must pay this expense no
matter how much output it produces or sells. An example of a fixed
cost could be the rent...
We have been using the
same set of data (Data Set One) in the notes to illustrate
production and costs. I have provided Data Set One in both tables
below. When costs were calculated in the notes, fixed costs were
$200. By using the term fixed costs economists are only referring
to the fact that a firm must pay this expense no matter how much
output it produces or sells. An example of a fixed cost could be
the rent...