Use DBS2_1.1. and DataSet2.xlsx to answer the questions in project questions and Instructions-1.docx. Please see attached documents and complete on time. Correct answers only.
Statistics and Global Issues – Temporary
Section 1.1
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Controlled Experiment, Control Group, Treatment Group, and Treatment
Definition
Controlled Experiment
A controlled experiment is an experiment that is conducted under controlled conditions in which just one or two factors are changed at a time to determine if a relationship exists between variables.
Treatment Group
The treatment group is the group that receives the treatment in the experiment.
Control Group
The control group is the group that does not receive the treatment. Oftentimes, the control group provides a baseline to let us know if the treatment has an effect.
Treatment
A treatment is something that is applied or administered to one or more groups in a controlled experiment.
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Population
Definition
A population is the set of all subjects or elements about which we are interested in making inferences.
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Frame
Definition
A list containing all members of the population is referred to as a frame.
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Population Parameters
Definition
Population parameters are facts about the population. Since parameters are descriptions of the population, a population can have many parameters.
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Sample
Definition
A sample is a subset of the population which is used to gain insight about the population. Samples are used to represent a larger group, the population.
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Statistic
Definition
A statistic is a fact or characteristic about a sample.
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Sheet1
Table for Question 4 – Survey Responses | Table for Question 5 – Survey Responses | Table for Question 6 – Survey Responses | ||||||
Category | % of Responses | Category | % of Responses | Category | % of Responses | |||
Frequently | 13 | A few hours or less | 48 | Very Interested | 50 | |||
Occasionally | 45 | A day | 12 | Somewhat Interested | 15 | |||
Seldom | 37 | Several days | 9 | Interested | 10 | |||
Never | 5 | A month | 1 | Not Very Interested | 5 | |||
I hold a grudge indefinitely | 22 | Not At All Interested | 20 | |||||
It depends on the situation | 8 |
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1) A business magazine was conducting a study into the amount of travel required for mid-level managers across the U.S. 72 managers were surveyed for the number of days they spent traveling each year. Use ‘DataSet1 for question 1 section’ on black board to
a) Construct a relative frequency distribution
b) Construct a cumulative frequency distribution
2) The closing price (in pence) for selected stocks trading on the London stock exchange are give in ‘DataSet1 for question 2’ section. Construct a frequency distribution for the stock prices.
3) Consider the assets in (Billion dollars) the 10 largest life insurance companies listed in ‘DataSet1 for question 3 ‘section. Use this data to
a) Construct a frequency distribution
b) Construct relative frequency distribution
c) Construct a cumulative frequency distribution
4) A magazine reported the results of a survey in which readers were asked to send in their responses to several questions regarding good eating. DataSet2 for question 4 on blackboard is the reported results to the question, How often do you eat chocolate? Based on the data answer the following questions.
a) Were the responses to this survey obtained using voluntary sampling technique? Explain
b) What type of bias may be present in the response?
c) Is 13% a reasonable estimate of the proportion of all Americans who eat chocolate frequently? Explain
5) A magazine reported the results of a survey in which readers were asked to send in their responses to several questions regarding anger. DataSet2 for Question 5 shows the reported results to the question, How long do you usually stay angry? Answer the following questions based on the data.
a) Were the responses to this survey obtained using voluntary sampling technique? Explain
b) What type of bias may be present in the response?
c) Is 22% a reasonable estimate of the proportion of all Americans who hold a grudge indefinitely? Explain.
6) Students in marketing class have been asked to conduct a survey to determine whether or not there is a demand for an insurance program at a local college. The students decided to randomly select students from the local college and mail them a questionnaire regarding the insurance program. Of the 150 questionnaire that were mailed, 50 students responded to the following survey item: Pick the category which best describes your interest in an insurance program. DataSet2 for question 6 shows the responses. Use this data to answer the following question.
a) What type of bias may be present in the response?
b) Is 50% a reasonable estimate of the proportion of all students who would be very interested in an insurance program at a local college? Explain.
c) Is 50% a reasonable estimate of the proportion of all business majors who would be very interested in an insurance program at a local college? Explain.
d) What strategies do you think the marketing students could have used in order to get a less biased response to their survey?