QUANTITATIVE ANALYSIS FOR DECISION MAKING – STA 411 Z
FALL 2017
Name: Syed Rameez Khalid I.D: 20171-22130
1. A sample of 100 undergraduate students answered the following survey. What is your gender? What is your major area of study? At the present time, do you plan to attend graduate school? What is your current CGPA? What would you expect your starting annual salary ($000) to be if you were to seek employment immediately after obtaining your bachelor’s degree? What do you anticipate your salary to be (in $ 000) after 5 years of full time work experience? What is your current employment status? Responses are tabulated in following table. a) For each numerical variable, compute the mean, median, first quartile and third quartile. b) Compute the range, interquartile range, variance, standard deviation and coefficient of variation. c) Construct a box plot. Are the data skewed? If so, how? d) Construct two contingency tables a) gender, major b) Plan to graduate, employment status. Analyze the data at the 0.05 level of significance to determine whether any significant relationships exist among these variables. a) There is a significant relation between Gender and Major. (0.000) b) There is no significant relation between Plan to graduate and Employment Status. (0.126) Annual S. Grad Expected Salary in Employment No. Gender Age Height Class Major School GPA Salary 5 Years Status 1 m 19 69 So mr Y 3.19 40 70 un 2 m 21 67 Sr m Un 3.11 50 60 pt 3 m 20 68 Jr ef N 3.02 50 60 pt 4 m 18 79 Fr ef Y 4.00 50 57 pt 5 m 19 67 So m Y 2.75 40 100 pt 6 m 21 70 Jr a Y 3.24 60 100 pt 7 m 20 68 Jr ef Y 2.93 50 75 un 8 m 21 71 Jr m Y 3.26 40 60 pt 9 f 20 62 So mr N 3.21 45 65 pt 10 m 19 70 So a Y 3.23 50 70 pt 11 m 25 67 So a Un 3.77 60 120 pt 12 f 19 65 So a Un 3.71 40 60 un 13 f 20 65 Jr a Un 3.20 45 65 pt 14 f 21 65 Jr mr Y 2.94 40 60 pt 15 f 19 66 So mr Y 3.22 40 80 pt 16 m 20 69 Jr un Un 3.34 60 90 pt 17 f 19 64 Fr ib Un 3.09 40 65 un 18 m 20 67 Jr mr N 3.72 50 80 pt 19 m 23 70 Jr ef Un 2.50 50 75 un 20 m 20 70 So ef Y 2.74 60 75 un 21 f 20 63 So mr Y 3.55 60 100 pt 22 f 19 67 So m Un 3.00 45 65 pt 23 f 19 65 So mr Y 3.62 40 90 pt 24 f 20 63 Jr m Un 2.60 40 60 pt 25 f 22 63 Sr ef Y 3.63 50 150 pt 26 f 21 65 Sr o N 2.38 40 60 pt 27 m 21 73 Jr m Y 2.45 40 65 pt 28 m 26 71 Jr m N 3.28 50 75 pt 29 f 20 66 So ib Un 3.18 50 75 un 30 m 24 62 So a N 3.33 55 85 pt 31 f 19 69 So mr Un 2.87 30 50 pt 32 f 33 67 Sr a N 3.14 45 75 ft 33 f 19 64 Fr ib N 3.44 45 90 pt 34 m 20 72 So m Y 3.85 60 100 pt 35 f 22 61 Jr o Y 3.50 45 60 un 36 m 21 69 So ef N 2.92 55 85 pt 37 f 19 60 Fr a Un 2.80 55 80 pt 38 f 21 66 Jr mr Un 2.67 40 65 pt 39 m 20 69 So a Un 2.65 45 80 un 40 f 20 63 So is N 2.88 50 80 un 41 f 19 65 So ef Un 3.43 50 100 pt 42 f 21 63 Jr ef Y 3.48 60 110 pt 43 m 20 68 So a Un 2.91 45 90 pt 44 m 19 72 So a N 2.75 50 80 pt 45 m 22 69 Jr is Y 3.62 55 85 un 46 m 21 68 Jr m N 2.42 35 60 pt 47 f 22 66 Jr mr N 2.76 40 65 pt 48 m 19 69 Fr un un 3.10 45 70 pt 49 m 20 68 So is N 2.61 40 65 pt 50 f 20 66 So is N 3.13 45 80 pt 51 m 19 70 So mr Y 3.20 40 70 un 52 m 21 68 Sr m un 3.12 50 60 pt 53 m 20 69 Jr ef N 3.03 50 60 pt 54 m 18 75 Fr ef Y 4.00 50 57 pt 55 m 19 68 So m Y 2.76 40 100 pt 56 m 21 71 Jr a Y 3.25 60 100 pt 57 m 20 68 Jr ef Y 2.93 50 75 un 58 m 21 71 Jr m Y 3.26 40 60 pt 59 f 20 63 So mr N 3.22 45 65 pt 60 m 19 71 So a Y 3.23 50 70 pt 61 m 25 68 So a un 3.77 60 120 pt 62 f 19 66 So a un 3.72 40 60 un 63 f 20 65 Jr a un 3.21 45 65 pt 64 f 21 65 Jr mr Y 2.95 40 60 pt 65 f 19 66 So mr Y 3.23 40 80 pt 66 m 20 69 Jr un un 3.34 60 90 pt 67 f 19 66 Fr ib un 3.10 40 65 un 68 m 20 67 Jr mr N 3.72 50 80 pt 69 m 23 70 Jr ef un 2.50 50 75 un 70 m 20 70 So ef Y 2.74 60 75 un 71 f 20 64 So mr Y 3.56 60 100 pt 72 f 19 67 So m un 3.00 45 65 pt 73 f 19 65 So mr Y 3.63 40 90 pt 74 f 20 63 Jr m un 2.65 40 60 pt 75 f 22 64 Sr ef Y 3.64 50 150 pt 76 f 21 65 Sr o N 2.40 40 60 pt 77 m 21 73 Jr m Y 2.45 40 65 pt 78 m 30 71 Jr m N 3.28 50 75 pt 79 f 20 66 So ib un 3.20 50 75 un 80 m 24 62 So a N 3.33 55 85 pt 81 f 19 69 So mr un 2.87 30 50 pt 82 f 33 67 Sr a N 3.14 45 75 ft 83 f 19 64 Fr ib N 3.44 45 90 pt 84 m 20 72 So m Y 3.85 60 100 pt 85 f 22 61 Jr o Y 3.50 45 60 un 86 m 21 69 So ef N 2.92 55 85 pt 87 f 19 62 Fr a un 2.85 55 80 pt 88 f 21 66 Jr mr un 2.68 40 65 pt 89 m 20 69 So a un 2.65 45 80 un 90 f 20 63 So is N 2.89 50 80 un 91 f 19 65 So ef un 3.43 50 100 pt 92 f 21 63 Jr ef Y 3.48 60 110 pt 93 m 20 68 So a un 2.91 45 90 pt 94 m 19 72 So a N 2.75 50 80 pt 95 m 22 69 Jr is Y 3.62 55 85 un 96 m 21 68 Jr m N 2.42 35 60 pt 97 f 22 66 Jr mr N 2.77 40 65 pt 98 m 19 69 Fr un un 3.10 45 70 pt 99 m 20 68 So is N 2.61 40 65 pt 100 f 20 66 So is N 3.13 45 80 pt
Class: Freshman, Sophomore, Junior, Senior
Under Accounting, Economics/Finance, Information Systems, graduate International Business, Management, Management/Retailing, , Major: Other, Undecided Graduate Major: Yes, No, Undecided / Unsure
2. The business objective of the Director of planning of Sunflowers store is to
forecast annual sales for all new stores, based on the number of profiled customers who live no more than 30 minutes from a Sunflowers store. To examine the relationship between the number of profiled customers (in millions) who lived within a fixed radius from a Sunflowers store and its annual sales ($ millions), data were collected from a sample of 14 stores. Store Profiled Customers Annual Sales 1 3.7 5.7 2 3.6 5.9 3 2.8 6.7 4 5.6 9.5 5 3.3 5.4 6 2.2 3.5 7 3.3 6.2 8 3.1 4.7 9 3.2 6.1 10 3.5 4.9 11 5.2 10.7 12 4.6 7.6 13 5.8 11.8 14 3.0 4.1 a) Determine the regression equation. ŷ = -1.209+2.074x b) Interpret the meaning of the slope in this problem. The slope tells us that the annual sales is increasing at 2.074 per profile customer. c) Determine the standard error of the estimate. 0.9993 d) Determine the coefficient of determination and interpret its meaning. 0.848 e) How useful do you think this regression model is for predicting sales? While it doesn't explain all of the variability in sales, this model seems to be fairly useful, based on (c) and (d). f) At the 0.05 level of significance, is there evidence of a linear relationship between profiled customers and annual sales? g) Construct a 95% confidence interval estimate of the population slope β1