Statistical Methods for Business
Milena4598
HW1.pdf
Summer 2020 33:136:385 Statistical Methods for Business Dr. Mehmet Turkoz
HW #1
Due: June 6th, 2020 @ 11:00 PM
INSTRUCTIONS:
• Submit your through Blackboard. NO email or in class submissions.
QUESTIONS:
1. What is the difference between a sample and a population?
2. The student News Service at Clear Mountain State University (CMSU) has decided to gather data about
the undergraduate students who attend CMSU. They created and distribute a survey of 14 questions
and receive responses from 62 undergraduates (the data is stored in UndergradSurvey.xlsx). For each
question asked in the survey, determine whether the variable is categorical or numerical. If you
determine that the variable is numerical, identify whether it is discrete or continuous.
3. Three professors examined awareness of four widely disseminated retirement rules among employees
at University of Utah. These rules provide simple answers to questions about retirement planning. At
the time of the investigation, there were approximately 10,000 benefited employees, and 3,095
participated in the study. Demographic data collected on these 3,095 employees included gender, age
(years), education level (years completed), marital status, household income ($), and employment
category.
a. Describe the population of interest.
b. Describe the sample that was collected.
c. Indicate whether each of the demographic variables mentioned is categorical or numerical.
4. The following set of data is from a sample of:
22,23,21,22,25,26,22,22,21,19,22,22,26,23,24,21,22
a. Compute the mean, median, and mode
b. Compute the range, variance, standard deviation, and coefficient of variation.
c. Compute the Z score. Are there any outliers?
5. Suppose that the rate of return for a particular stock during the past two years was 10% for one of the
years and 30% for the other year. Compute the geometric rate of return per year. (Note: A rate of return
of 10% is recorded as 0.10, and a rate of return of 30% is recorded as 0.30.)
