Week One Individual Assigment: Descriptive Statistics and Probability Distributions Problem Sets

Week One Individual Assigment:
Descriptive Statistics and Probability Distributions Problem Sets

QNT/561 Applied Business Research and Statistic

Individual Assignment: Descriptive Statistics and Probability Distributions Problem Sets
  * Prepare responses to the following exercises from the text:
      * Exercises 80, 82, and 87 (Ch. 3)
      * Exercises 34, 36, and 38 (Ch. 5)
      * Exercises 45 and 62 (Ch. 6)
      * Exercises 42 and 45 (Ch. 7)

Exercises 80 (Ch. 3)
Creek Ratz is a very popular restaurant located along the coast of northern Florida. They
serve a variety of steak and seafood dinners. During the summer beach season, they do
not take reservations or accept “call ahead” seating. Management of the restaurant is
concerned with the time a patron must wait before being seated for dinner. Listed below
is the wait time, in minutes, for the 25 tables seated last Saturday night.
      28, 39, 23, 67, 37, 28, 56, 40, 28, 50, 51, 45, 44, 65, 61, 27, 24, 61, 34, 44, 64, 25, 24, 27, 29
  a. Explain why the times are a population.
-     This is a population because we are considering all the tables seated last Saturday    
          night.
b.   Find the mean and median of the times.
-     Median:
    23,24,24,25,27,27,28,28,28,29,34,37,39,40,44,44,45,50,51,56,61,61,64,65,67

  * Mean:
Interpretation: The typical time a patron must wait before being seated is 40.84 minutes.

                            ∑ X               1,021                                                                    
                  µ =   ______     =   ______     =     40.84                                                
                   
                              N                   25
         
c. Find the range and the standard deviation of the times.
-     Range:
    Range = Largest Value – Smallest Value
                            = 67 - 23
                            = 44
  * Standard Deviation:...