marketing statistic question in 5 hours time

Case Study Report Grade Breakdown:

Report Appearance 5 marks

Introduction 10 marks

Questions (see below) 80 marks

Conclusion 5 marks

Total 100 marks

REPORT APPEARANCE: this should be considered a formal report which should be prepared in a professional manner. Your report should include the following:

Title Page

Make the title page professional in appearance. Name the case that you have been assigned, indicate the course, the project, your professor’s name, your names, and the due date.

Table of Contents

List all the sections with their corresponding page numbers.

Introduction

Set up the context for the report by giving background information about the area(s) in your data set and indicate the purpose of this report.

The following are some formatting guidelines that you should implement in your report:

· Use 11-12 point font size and 1.5-2 line spacing.

· Round final answers to 2 decimal places where applicable.

Statistical Findings: this section of the report should include your answers to the questions. Present your findings in a logical and organized way. Use the data set provided in Excel to complete your calculations. Note: question numbers correspond to chapter numbers.

Questions:

1. Refer to the variables in your data set:

a) Which of the variables are qualitative and which are quantitative?

b) Determine the level of measurement for each of the variables. (5 marks)

2. Refer to the variables in your data set:

a) Construct a frequency table including relative frequencies and a bar chart for the appropriate qualitative variables. (6 marks)

b) Describe the distribution of the variables in part a). (2 marks)

c) Construct a frequency distribution including relative frequencies and a histogram for the appropriate quantitative variables using PivotTables. (8 marks)

d) Describe the distribution of the variables in part c). (4 marks)

3. Consider this population data:

a) Determine the mean, median and mode of list prices. Is the distribution positively or negatively skewed? Explain your reasoning. (5 marks)

b) Determine the range, variance and standard deviation of list prices. (2 marks)

c) Estimate the first and third quartiles of list prices. State the values of outliers if there are any. Provide calculations to support your answer. (7 marks)

d) Using the Empirical Rule, 68% of the observations will fall between what 2 values? (2 marks)

e) Using the Empirical Rule, 95% of the observations will fall between what 2 values? (2 marks)

f) Using the Empirical Rule, nearly all (99.7%) of the observations will fall between what 2 values? (2 marks)

4. a) What is the probability that the dwelling is listed for less than $400 000? (1 mark)

b) What is the probability that the dwelling has 3 or more bedrooms? (2 marks)

c) What is the probability that the dwelling is listed for less than $400 000 or more than

$600 000?? (2 marks)

5. a) Develop a probability distribution for the number of full bathrooms. (2 marks)

b) Find the mean, variance and standard deviation of the probability distribution. (5 marks)

c) What is the probability of exactly 2 bathrooms? (1 mark)

d) What is the probability of no more than 2 bathrooms? (2 marks)

6. Using the normal distribution:

a) What is the probability that a list price is less than the mode? (3 marks)

b) What is the probability that a list price is more than the mode? (1 mark)

c) What is the probability that a list price is less than the median? (3 marks)

d) What is the probability that a list price is more than the median? (1 mark)

7. i) Using a systematic sampling method, take a sample of 25 list prices. Describe the process used. You have the population standard deviation from #3. Calculate the mean, median and mode of the sample and use these values in part a & b following:

a) What is the probability that a list price is less than the mode? (3 marks)

b) What is the probability that a list price is more than the median? (3 marks)

ii) Using a systematic sampling method, take a sample of 35 list prices. Consider that you do not have the population standard deviation. Calculate the mean, median, mode and standard deviation of the sample and use these values in part a & b following:

a) What is the probability that a list price is more than the mode? (3 marks)

b) What is the probability that a list price is less than the median? (3 marks)