Posted: December 24th, 2022

◼ Beginning of Analysis ABC Enterprises is a growing company in which employees

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◼ Beginning of Analysis
ABC Enterprises is a growing company in which employees must frequently travel for business presentations in the metro area of the city where the company is located. Currently, each employee is allotted 35 dollars each day (total) to cover meals when they are giving these presentations. Employees have complained that this is not enough, especially when they give more than one presentation in a day. A survey was taken to get recommendations for a new allotment. Although not all responded, 58% of the employees did respond.
This week, you are going to use several key numbers to interpret the data. Open the EXCEL Spreadsheet:
December 2022 A.xlsx

Calculate the following in EXCEL using the formulas (check out the hints I give).
Mean, median, mode, range, standard deviation of the SAMPLE,
Then, answer these questions.
The mean, median, and mode are called measures of central tendency. They are all “averages” of some type. Are they in alignment with each other, or not? Explain.
What is standard deviation? Does the standard deviation show that the data is clumped all together or spread apart?
Let’s say that the data is normally distributed. The assigned chapters of the week mention the Empirical Rule. What dollar amount range is one standard deviation from the mean? What percentage of values are within one standard deviation from the mean?
Using that same Empirical rule and let’s say the data is normally distributed, in what monetary range do 95.44% of all the responses fall?
If mean, median, and mode are all giving information on the “average,” yet all the numbers are different, how should a company figure out which one is the BEST measure of central tendency to use?❗ must be total of 75 words
◼ Above is a scenario about the requested dollar amount
for meals includes a spreadsheet full of numbers. When you are asked to calculate the mean of
those numbers, are you calculating a population mean or a sample mean. How do
you know? What does the scenario tell
you?
2. Given these numbers
13, 22, 255, 1, 7, 13, 6, 13, 13, 5, 5, 25, 12, 6
In Excel (include your spreadsheet in your submission):
Calculate the mean:
Calculate the median:
Calculate the mode:
a)
Why was the mean higher
than the median or mode?
b)
Why wouldn’t the mean always be the best number to represent the
central tendency of a group of numbers?
Use this example to illustrate your point.
3. Calculate the range, variance, and standard deviation in EXCEL for
the SAMPLE below. Then, calculate the
range, variance and standard deviation in EXCEL as if the group of numbers was
a POPULATION. Upload your spreadsheet to
your submission with the calculations from #2 and #3.
13, 22,
255, 1, 7, 13, 6, 13, 13, 5, 5, 25, 12, 6
Range of the sample:
Range of the population:
Variance of the sample:
Variance of the population:
Standard deviation of the sample:
Standard deviation of the population:
Why did the standard deviation and variance change when you
calculated it for the sample and the population for this set of numbers? What about the formula causes this change? (Analyze the formulas – what is different?)
Go toL
https://www.mathsisfun.com/data/standard-deviation…
4. From their website,
a. Summarize what variance is.
b. Summarize what standard
deviation is.
c. Look at where they
showed the formulas for variance and standard deviation. What makes these formulas different?
d. Explain why we need to
square distances (scroll all the way down to the Footnote) when calculating
variance.
5. Explain the following in your own words:
percentile,
the first quartile,
the third quartile,
and the IQR (interquartile range).
Use the list of numbers: 13, 22, 255, 1, 7, 13, 6, 13, 13, 5, 5,
25, 12, 6
to find these values for
the data set. Use the Excel commands
that are inclusive in this exercise.
(=quartile.inc)
6. Go to the internet and find information on
the Excel commands =quartile.inc and = quartile.exc
Create a set of at least
6 numbers, and then use your set up numbers to explain the difference between
the two commands.
7. Find the outlier formula
that uses the IQR to determine if a number is an outlier. Use the formula to
mathematically show that there is an outlier in the data set in #2.
Data set: 13, 22, 255, 1, 7, 13, 6, 13, 13, 5, 5, 25, 12, 6
8. In #2, use the data for the SAMPLE. Assume it is normally distributed, even if it
is not. Use the empirical rule to
calculate the range of values that are 1 standard deviation from the mean.Show your work. Do the same for two and three standard
deviations from the mean. Hint: This is
very similar to what you did above.
Probability Applications
◼ you have been working with this scenario:ABC Enterprises is a growing company in which employees must frequently travel for business presentations in the metro area of the city where the company is located. Currently, each employee is allotted 35 dollars each day (total) to cover meals when they are giving these presentations. Employees have complained that this is not enough, especially when they give more than one presentation in a day. A survey was taken to get recommendations for a new allotment. Although not all responded, 58% of the employees did respond. Open the Excel Spreadsheet:
Weekly Assignment Spreadsheet December 2022 fulljk.xlsx
Answer these questions and explain what you did to solve each one.If one survey response was randomly selected, what is the probability that it was given by someone under the age of 40?
If two responses were randomly selected, one at a time, without replacement, what is the probability that both were given by a male?
What is the probability that a selection was over 59 dollars, given that it was a response from a female?
Search the internet for an article published in the last 18 months on how businesses use probability. Provide the title, author, and the URL. Provide a four-sentence summary of how probability is used in business.
❗ must be 75 words
◼ 1. Suppose that Bob and Sarah are married. Bob’s family is from New York. Sarah’s family is from Los Angeles. Both families have invited them to spend New
Year’s Eve with them. Due to distance, they can only go to one place, and to
make the decision fair, they are going to randomly draw a card from a deck of
cards. If it is red (hearts or
diamonds), then they will go to Sarah’s family.
If it is black (clubs or spades), they will go to Bob’s family. Let’s say they repeated this process for
Thanksgiving and Christmas. Draw a
tree diagram depicting the sample space outcomes for this experiment showing
all the possible outcomes for the card draws. Use R for a red card and B for a black card.
Note: the card is always replaced after
drawing. Most students draw this an upload or embed the picture. (Make sure
you understand what sample space is before doing this).
2. Explain if each card draw in the scenario in #1 is an example of a
mutually exclusive event or not.
3. Explain if each card
draw in the scenario in #1 is an independent event or not.
4. Classify each of the following random variables as discrete or
continuous in the scenario in #1.
a. X = the number of times you draw a red card from a deck
b. X = the amount of time
it takes you to shuffle cards
c. x = how many complete
decks of cards you own
d. x = the number of card
games you know how to play
5. List and explain the characteristics of a binomial experiment. It’s the explanation that is worth the
most point here. After each
characteristic (and there should be at least 4), explain it.
6. Read this scenario keeping in mind what you
just wrote in #5:
Jason is the father in
the Smith family. His favorite ice cream place is just up the street. He treats
himself to an ice cream cone every Friday night. He is equally likely to choose
either vanilla venom or caramel crush (the two best flavors ever created). In
fact, he loves both flavors so much that he flips a coin to determine which one
to get in his 52 trips during a year. If
he flips a heads, he orders vanilla venom.
If he flips a tails, he orders caramel crush. His wife is happy when the
coin toss results in the vanilla venom because Jason is a messy eater, and that
flavor is easier to successfully wash out of the shirt. It’s a success when his
shirt is not ruined.
Then, thoroughly explain
whether the following are true or false.
a. This experiment has 1 trial.
b. The success is flipping a heads.
c. The probability of success in all trials is
1/52.
d. The coin toss ensures that the trials are
independent and mutually exclusive.
e. This scenario is not an example of a binomial
experiment.
f. This probability of success changes
throughout the experiment.
g. The experiment has a fixed number of trials.

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