QNT 561 Inferential Statistics

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INDIVIDUAL METHODOLOGY FINDINGS

Alisa Brady, Brad O’Rourke, Daniel Roberts, Melissa Hopkins

QNT 561

March 14, 2016

Gary Saxena

Table of Contents Descriptive Statistics 3 Descriptive Statistics Interpretation 5 Appendix A 6 Raw Data Used In Analysis 6 Appendix B 10 Overhead Cost & Sales Price Histograms 10 Overhead Cost & Sales Price Scatter Plots 11 Appendix C 12 Descriptive Statistics 12

SHORT TITLE OF PAPER

1

Running head: INDIVIDUAL MEDTHODOLOGY FINDINGS

2

Descriptive Statistics

Overhead Cost

Central Tendency:

Mean2.082

Median2.103

ModeN/A

Standard Error0.023

Dispersion:

Standard Deviation 0.4430

Variance 0.1965

Number:385.000

Min/Max:

Minimum 1.3530

Maximum 2.8476

Confidence Interval:

Skewness -.0336

Note: The descriptive statistics has been presented in Appendix C, whereas histogram& scatter Plot has been presented in Appendix B.

Sales Price

Central Tendency:

Mean3.5874

Median 3.5505

Mode N/A

Standard Error 0.0226

Dispersion:

Standard Deviation 0.4430

Variance 0.1962

Number:385.000

Min/Max:

Minimum2.8604

Maximum 4.3586

Confidence Interval:

Skewness 0.1003

Note: The descriptive statistics has been presented in Appendix C, whereas histogram & scatter Plot has been presented in Appendix B.

Attribute Variable Name (if applicable)

There is no such variable has been considered in this study.

Descriptive Statistics Interpretation

Overhead Cost

This study has been carried compare the total overhead cost per packet of 30 seeds with sales prices per packet of 30 seeds. The collected data is normally distributed with sample size of 385 and samples have been selected randomly. The average overhead cost of collected samples is $2.082. The most of samples from the population have overhead cost $2 to 2.99.

Sales Price

The collected data is not normally distributed and skewed to left. Researcher collected 385 samples randomly, and their sales prices have been measured. Their sales price of collected sample has been observed between $2.86 and$4.36. The average sales price is $3.59, with a standard deviation of $.4430. Approximately half or more of the data values are higher as compared to average sales price.

INDIVIDUAL METHODOLOGY FINDINGS

6

Appendix A

Raw Data Used In Analysis

Sample #

Total Overhead Cost per Packet of 30 Seeds

Sales Price per Packet of 30 Seeds

Sample #

Total Overhead Cost per Packet of 30 Seeds

Sales Price per Packet of 30 Seeds

Sample #

Total Overhead Cost per Packet of 30 Seeds

Sales Price per Packet of 30 Seeds

Sample #

Total Overhead Cost per Packet of 30 Seeds

Sales Price per Packet of 30 Seeds

Sample #

Total Overhead Cost per Packet of 30 Seeds

Sales Price per Packet of 30 Seeds

1

2.63

3.95

78

2.50

2.90

155

1.63

3.51

232

2.69

3.16

309

2.20

3.99

2

2.71

4.15

79

1.85

3.12

156

2.25

3.28

233

2.42

3.75

310

1.39

3.91

3

2.15

3.13

80

2.17

3.74

157

2.33

3.96

234

1.41

4.03

311

1.43

3.87

4

2.46

3.83

81

1.88

3.55

158

1.91

2.97

235

2.30

3.00

312

2.57

3.76

5

1.90

3.86

82

2.47

3.91

159

1.53

3.39

236

2.51

4.14

313

1.88

2.98

6

1.73

4.31

83

2.04

4.22

160

1.61

3.76

237

2.32

3.14

314

1.52

3.52

7

1.49

3.17

84

2.85

3.05

161

2.02

2.93

238

1.98

3.80

315

1.74

2.99

8

2.30

3.22

85

1.84

3.43

162

1.83

3.45

239

2.45

3.55

316

1.74

4.35

9

2.40

3.05

86

2.04

2.97

163

2.62

2.98

240

1.54

4.02

317

1.49

3.52

10

1.56

3.06

87

2.20

3.57

164

2.07

4.01

241

2.15

2.97

318

2.75

3.85

11

2.31

3.11

88

1.57

4.26

165

1.78

3.78

242

2.62

2.91

319

2.85

4.03

12

1.47

3.88

89

2.00

4.27

166

1.75

3.79

243

2.60

4.34

320

1.61

4.00

13

1.45

3.58

90

1.81

3.44

167

2.23

2.88

244

2.31

3.72

321

2.30

3.47

14

2.04

2.99

91

2.63

3.57

168

2.03

3.34

245

1.49

3.23

322

1.58

3.94

15

2.26

2.94

92

1.95

3.85

169

2.67

3.85

246

2.52

4.21

323

2.68

2.86

16

1.51

4.16

93

2.83

4.20

170

1.64

4.07

247

2.25

3.50

324

2.13

3.62

17

2.64

2.99

94

2.51

4.32

171

2.64

4.00

248

1.76

3.08

325

2.68

3.55

18

2.59

3.31

95

1.66

4.02

172

2.70

3.53

249

1.76

3.22

326

2.31

3.48

19

2.48

2.93

96

1.99

3.22

173

2.50

3.48

250

2.66

3.45

327

2.68

3.34

20

2.49

4.31

97

2.42

4.26

174

2.11

3.08

251

2.54

3.00

328

2.69

4.32

21

2.26

4.19

98

1.41

3.36

175

1.53

2.99

252

1.90

4.31

329

1.96

3.29

22

1.61

2.88

99

1.56

3.74

176

2.52

3.00

253

2.68

3.63

330

1.51

2.96

23

2.17

3.53

100

2.68

4.24

177

1.97

4.30

254

1.86

4.02

331

2.69

4.01

24

2.49

3.97

101

1.36

3.76

178

2.83

3.88

255

2.29

3.37

332

1.61

4.33

25

1.60

3.85

102

2.76

3.60

179

2.02

3.12

256

2.07

4.04

333

1.41

3.78

26

2.20

4.05

103

2.72

3.50

180

1.60

4.34

257

1.49

3.96

334

2.20

4.21

27

1.44

3.23

104

1.61

4.08

181

2.06

4.09

258

2.65

2.87

335

2.51

3.24

28

2.25

4.10

105

2.66

4.19

182

2.52

3.16

259

2.37

3.62

336

1.98

3.20

29

2.29

2.87

106

1.94

3.97

183

1.67

3.58

260

2.67

3.72

337

1.67

3.23

30

2.44

4.21

107

2.18

2.98

184

2.42

3.78

261

1.35

2.99

338

2.40

2.89

31

2.21

4.10

108

2.52

3.31

185

1.49

4.28

262

1.99

3.40

339

2.19

3.10

32

2.07

3.28

109

1.64

3.65

186

1.41

4.31

263

1.61

4.06

340

1.97

3.02

33

2.51

3.13

110

2.39

4.26

187

1.37

3.95

264

1.80

3.82

341

2.33

3.51

34

2.24

3.59

111

2.84

3.51

188

1.63

3.61

265

2.40

3.52

342

2.14

3.48

35

2.34

3.69

112

1.41

3.40

189

1.98

3.33

266

1.84

3.86

343

2.44

3.00

36

1.49

3.33

113

2.71

3.30

190

1.82

3.07

267

2.14

2.99

344

1.80

3.82

37

2.57

3.39

114

2.78

3.94

191

1.62

3.41

268

2.64

3.15

345

1.41

2.99

38

2.16

3.28

115

1.88

3.49

192

1.84

3.88

269

2.46

3.43

346

2.47

3.15

39

2.76

4.32

116

1.43

3.51

193

1.38

3.55

270

2.15

4.35

347

2.13

4.28

40

1.81

3.56

117

2.20

3.47

194

2.82

3.99

271

2.53

3.46

348

1.71

2.89

41

2.48

4.21

118

1.66

3.45

195

2.00

4.16

272

1.56

3.64

349

2.18

3.79

42

1.72

2.95

119

2.49

3.64

196

1.60

3.83

273

1.36

4.29

350

2.49

3.20

43

2.08

3.38

120

2.75

4.22

197

2.05

3.66

274

2.55

3.75

351

1.42

3.95

44

1.82

4.21

121

1.37

3.05

198

2.82

2.89

275

2.41

3.54

352

2.58

3.68

45

1.55

3.03

122

1.73

3.10

199

2.58

3.00

276

2.56

3.35

353

2.22

3.30

46

2.20

3.70

123

1.76

4.32

200

1.61

4.13

277

1.75

3.17

354

1.54

3.80

47

1.65

3.59

124

2.32

3.91

201

1.76

4.16

278

2.54

3.13

355

2.74

3.42

48

2.77

3.92

125

2.41

3.51

202

1.87

3.27

279

1.63

4.16

356

2.00

3.40

49

1.55

4.15

126

2.25

3.91

203

1.56

3.72

280

2.10

4.07

357

1.38

3.21

50

2.28

2.88

127

2.77

4.16

204

2.24

2.90

281

1.39

4.33

358

2.81

2.97

51

2.21

3.15

128

2.78

3.44

205

1.58

3.55

282

2.34

3.89

359

1.61

3.23

52

1.37

3.51

129

2.09

3.61

206

1.37

3.25

283

2.77

2.89

360

2.69

3.81

53

2.08

3.57

130

2.34

3.94

207

1.39

3.14

284

1.68

3.25

361

1.46

4.34

54

2.53

4.14

131

2.44

2.98

208

2.57

3.95

285

2.44

3.33

362

1.68

3.89

55

1.48

3.40

132

2.81

4.24

209

2.67

2.91

286

2.04

3.67

363

2.48

4.03

56

1.93

3.63

133

1.69

4.25

210

1.71

4.31

287

2.33

3.04

364

2.35

3.12

57

2.76

3.24

134

1.47

4.29

211

2.33

4.34

288

1.37

3.15

365

1.73

3.83

58

1.98

3.19

135

1.58

3.37

212

2.29

4.27

289

2.61

4.25

366

2.64

3.01

59

1.45

4.10

136

2.28

3.10

213

2.66

3.12

290

1.49

4.12

367

2.15

3.12

60

2.44

3.54

137

2.03

3.46

214

1.62

2.92

291

2.27

4.11

368

2.21

4.03

61

2.07

3.11

138

1.77

3.11

215

1.36

3.38

292

1.87

2.89

369

2.33

4.27

62

2.62

3.54

139

1.58

3.18

216

1.48

2.95

293

1.72

2.93

370

2.05

3.37

63

1.58

3.43

140

1.45

2.99

217

2.56

3.68

294

2.01

4.05

371

1.53

3.59

64

2.38

3.02

141

1.93

3.72

218

2.12

4.19

295

1.64

3.66

372

2.82

2.99

65

2.51

3.48

142

1.42

3.52

219

1.68

4.22

296

1.83

3.56

373

1.68

4.23

66

1.71

3.31

143

1.64

4.06

220

2.01

3.64

297

2.61

3.55

374

2.32

3.46

67

1.36

3.43

144

1.91

3.00

221

1.42

3.35

298

2.15

2.92

375

1.61

4.28

68

2.53

4.32

145

2.11

3.59

222

1.92

3.68

299

2.07

4.01

376

1.95

3.24

69

2.16

3.07

146

2.10

4.10

223

1.40

4.18

300

2.44

3.50

377

2.20

3.71

70

1.74

3.00

147

1.40

3.74

224

2.65

3.42

301

1.89

4.09

378

2.34

3.28

71

2.07

3.07

148

2.11

2.92

225

1.36

3.05

302

1.46

2.96

379

2.26

3.31

72

1.68

3.43

149

2.11

3.19

226

1.58

3.29

303

2.47

3.58

380

1.96

3.72

73

2.37

3.54

150

2.82

3.57

227

1.44

3.14

304

2.52

4.13

381

2.04

3.92

74

1.91

2.99

151

2.73

3.69

228

1.44

3.90

305

2.32

3.80

382

2.82

4.14

75

1.50

4.26

152

2.62

4.36

229

1.99

2.98

306

2.67

3.66

383

1.42

4.03

76

2.40

3.83

153

2.71

3.41

230

1.78

3.56

307

2.48

3.43

384

1.39

4.35

77

2.26

3.92

154

2.62

3.90

231

2.62

3.33

308

2.41

3.18

385

2.74

3.56

Appendix B

Overhead Cost & Sales Price Histograms

Overhead Cost & Sales Price Scatter Plots

Appendix C

Descriptive Statistics

Total Overhead Cost per Packet of 30 Seeds

Mean

2.0817

Standard Error

0.0226

Median

2.1032

Mode

#N/A

Standard Deviation

0.4433

Sample Variance

0.1965

Kurtosis

-1.2602

Skewness

-0.0336

Range

1.4946

Minimum

1.3530

Maximum

2.8476

Sum

801.4642

Count

385.0000

Sales Price per Packet of 30 Seeds

 

Mean

3.5874

Standard Error

0.0226

Median

3.5505

Mode

#N/A

Standard Deviation

0.4430

Sample Variance

0.1962

Kurtosis

-1.1922

Skewness

0.1003

Range

1.4983

Minimum

2.8604

Maximum

4.3586

Sum

1381.1350

Count

385.0000

Overhead Cost

Samples 1 To 1.99 2 To 2.99 168 217

Sales Price

Samples 2 To 2.99 3 To 3.99 4 To 4.99 45 250 90

Overhead Cost

Sample # 2.6270742361409587 2.7101717462611199 2.1525167167814434 2.455371959055511 1.9011814571990653 1.7275998566171862 1.486649629527832 2.3023239182196935 2.3956159120994833 1.5569739743007924 2.3098992638101388 1.4731745486149554 1.4502438407547724 2.0357509976586625 2.2623975880161535 1.50545735 69516305 2.642463002258058 2.5867422756201943 2.478254674272979 2.4883546892254906 2.2599440491049179 1.6132335617460243 2.1660282752189057 2.4917335667725649 1.6015859628126441 2.1997128211663912 1.438222089074445 2.2483636512863563 2.288560865727181 2.4403140159234558 2.2067974467265055 2.072713070982894 2.5101628558406497 2.2389947100833636 2.3386239339140675 1.4851969973572856 2.5671281712145082 2.1588035649833635 2.7639300920122092 1.8147679311467919 2.4751265852282227 1.7242690787747768 2.0845920546503089 1.8212613908973896 1.5471546640416141 2.2046396748684911 1.6463549042333696 2.7726892219851065 1.5543352039446057 2.2755953809954872 2.2069833962970011 1.3673276146639666 2.0801311288329201 2.5312397239417428 1.4832788476364822 1.9268081070454 2.7623950866877456 1.9757482836241502 1.4495056635063455 2.4364906801064663 2.0736021413124073 2.6237973564707811 1.5814661032437118 2.3794546710187183 2.505140971114233 1.7096748126328374 1.3570819443517999 2.5319692396731512 2.1558277016880951 1.7369247431313333 2.0675246997307455 1.6761976459196242 2.3711514880039681 1.9135073759879753 1.4997921478263219 2.4032218657610387 2.2553041646970158 2.501102267169184 1.8530954962683339 2.1682955974551743 1.8813933625946651 2.4659284655124942 2.0381224174185131 2.8455205923134743 1.841940873929107 2.0396193981433779 2.1953099699966585 1.5739305755009094 2.0047743782914988 1.8071667115739398 2.6253018354697648 1.9475611985046155 2.8304062752757702 2.51038796232733 1.6630985411076191 1.9908325389370303 2.421830629954048 1.4068924747008462 1.5586264971210355 2.6753667488047892 1.3620567886645158 2.7556363947443208 2.7153851856659283 1.6143231705462133 2.6626594310074965 1.9412178469024852 2.1824974855594754 2.5156918875483938 1.6354587936197902 2.3934083483209441 2.8388540089274019 1.4079691147505198 2.7052390397055341 2.7803917835495389 1.8802713703498819 1.4271564702926152 2.2035195724781951 1.6588889826989601 2.4921128756973454 2.746792973758506 1.3683850882747641 1.7301367228695079 1.7596658412616635 2.3151455309771531 2.4115522824275817 2.2542399379944476 2.7700164915458529 2.7764347253736901 2.0910736654615119 2.3421766776023292 2.4400237513142633 2.8100142182630101 1.6925932722719601 1.4658006666855492 1.58120589457363 2.27621176721 751 2.0261895227381905 1.7657272871614231 1.5752061856178099 1.4472770764574279 1.9295347824226035 1.423827675493603 1.6411629206940044 1.9115360697402881 2.1097516985789726 2.1032344625287722 1.3970258798357915 2.112905152449049 2.1105205328909058 2.8171383231662599 2.7341309780871503 2.6227483204459672 2.7103462612438509 2.624626079811164 1.6283879893095523 2.2529098142446244 2.3336716563752078 1.9139246189501555 1.5343379810413817 1.6050235752533657 2.0150914479750694 1.8309436310086422 2.6174437596874278 2.0699383159870042 1.7844865111345685 1.7491606405484972 2.2285677082090798 2.0321972292324775 2.6719246450938066 1.6354995691156646 2.6416218514854832 2.7025722911663115 2.4972652136405786 2.1149301126733056 1.5275617972262547 2.5199352581450412 1.9652462515047113 2.8283181502485957 2.02324526662008 1.5969583906646798 2.0588516301988822 2.5167978037427132 1.6651168308300381 2.4179951998849734 1.4904805571698416 1.4092513511669176 1.366720857876556 1.6263352939865643 1.9792171811154995 1.8214953828957552 1.6208395285125639 1.8350570202104999 1.3785385386831781 2.8224626407796327 2.0000643941802205 1.5976742727399578 2.0471095476973273 2.822412341234589 2.5788218043829496 1.6057621611948967 1.7615048809855665 1.8680765845625307 1.5611286923613736 2.2441027708559247 1.5804528802938773 1.3651733437579106 1.3922460840641933 2.5654826391191481 2.6730720673542345 1.7118472571782397 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Sales Price

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