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MATH3215 Rasmussen Constructing Confidence and Point Estimates Worksheet
1. Discuss the importance of constructing confidence intervals for the population mean by answering o What is the best poi ...
MATH3215 Rasmussen Constructing Confidence and Point Estimates Worksheet
1. Discuss the importance of constructing confidence intervals for the population mean by answering o What is the best point estimate for the ...
Calculate in Excel... Car Lot Inventory
You manage the inventory for a car dealership. Your management would like you to review current inventory on the dealershi ...
Calculate in Excel... Car Lot Inventory
You manage the inventory for a car dealership. Your management would like you to review current inventory on the dealership lot.Review the Week 2 Data Set. ***Attached***Create and calculate the following in Excel®:Create a Pie Chart which summarizes colors of the cars in the sample.Create a Bar Chart which summarizes the frequency of the models of the cars in the sample.Create a Frequency Table for classes of MPG, including Frequency and Relative Frequency for the cars in the sample.Calculate the mean Days in Inventory for the cars in the sample. Compare that to the median and the mode. Highlight the value that would be a better representation of the "typical" price of a car in inventory?Calculate the standard deviation of the Days in Inventory for the cars in the sample. Calculate the 5 number summary for the suggested
retail prices of the cars in the sample. This consists of the 1st, 2nd,
3rd, 4th quartile and the IQR.
QNT561 University Phoenix Payment Time Billing System Case Study Paper
https://newclassroom3.phoenix.edu/Classroom/#/contextid/OSIRIS:51697001/context/co/view/activityDetails/activity/61dcb793- ...
QNT561 University Phoenix Payment Time Billing System Case Study Paper
https://newclassroom3.phoenix.edu/Classroom/#/contextid/OSIRIS:51697001/context/co/view/activityDetails/activity/61dcb793-c0a7-4d62-9dbf-7987016f3214/expanded/FalsePurpose of Assignment The purpose of the assignment is to develop students' abilities in using datasets to apply the concepts of sampling distributions and confidence intervals to make management decisions. Assignment Steps Resources: Microsoft Excel®, The Payment Time Case Study, The Payment Time Case Data Set Review the Payment Time Case Study and Data Set. Develop a 700-word report including the following calculations and using the information to determine whether the new billing system has reduced the mean bill payment time:Assuming the standard deviation of the payment times for all payments is 4.2 days, construct a 95% confidence interval estimate to determine whether the new billing system was effective. State the interpretation of 95% confidence interval and state whether or not the billing system was effective.Using the 95% confidence interval, can we be 95% confident that µ ≤ 19.5 days?Using the 99% confidence interval, can we be 99% confident that µ ≤ 19.5 days?If the population mean payment time is 19.5 days, what is the probability of observing a sample mean payment time of 65 invoices less than or equal to 18.1077 days? Format your assignment consistent with APA format. Click the Assignment Files tab to submit your assignment.
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Most Popular Content
3 pages
MATH3215 Rasmussen Constructing Confidence and Point Estimates Worksheet
1. Discuss the importance of constructing confidence intervals for the population mean by answering o What is the best poi ...
MATH3215 Rasmussen Constructing Confidence and Point Estimates Worksheet
1. Discuss the importance of constructing confidence intervals for the population mean by answering o What is the best point estimate for the ...
Calculate in Excel... Car Lot Inventory
You manage the inventory for a car dealership. Your management would like you to review current inventory on the dealershi ...
Calculate in Excel... Car Lot Inventory
You manage the inventory for a car dealership. Your management would like you to review current inventory on the dealership lot.Review the Week 2 Data Set. ***Attached***Create and calculate the following in Excel®:Create a Pie Chart which summarizes colors of the cars in the sample.Create a Bar Chart which summarizes the frequency of the models of the cars in the sample.Create a Frequency Table for classes of MPG, including Frequency and Relative Frequency for the cars in the sample.Calculate the mean Days in Inventory for the cars in the sample. Compare that to the median and the mode. Highlight the value that would be a better representation of the "typical" price of a car in inventory?Calculate the standard deviation of the Days in Inventory for the cars in the sample. Calculate the 5 number summary for the suggested
retail prices of the cars in the sample. This consists of the 1st, 2nd,
3rd, 4th quartile and the IQR.
QNT561 University Phoenix Payment Time Billing System Case Study Paper
https://newclassroom3.phoenix.edu/Classroom/#/contextid/OSIRIS:51697001/context/co/view/activityDetails/activity/61dcb793- ...
QNT561 University Phoenix Payment Time Billing System Case Study Paper
https://newclassroom3.phoenix.edu/Classroom/#/contextid/OSIRIS:51697001/context/co/view/activityDetails/activity/61dcb793-c0a7-4d62-9dbf-7987016f3214/expanded/FalsePurpose of Assignment The purpose of the assignment is to develop students' abilities in using datasets to apply the concepts of sampling distributions and confidence intervals to make management decisions. Assignment Steps Resources: Microsoft Excel®, The Payment Time Case Study, The Payment Time Case Data Set Review the Payment Time Case Study and Data Set. Develop a 700-word report including the following calculations and using the information to determine whether the new billing system has reduced the mean bill payment time:Assuming the standard deviation of the payment times for all payments is 4.2 days, construct a 95% confidence interval estimate to determine whether the new billing system was effective. State the interpretation of 95% confidence interval and state whether or not the billing system was effective.Using the 95% confidence interval, can we be 95% confident that µ ≤ 19.5 days?Using the 99% confidence interval, can we be 99% confident that µ ≤ 19.5 days?If the population mean payment time is 19.5 days, what is the probability of observing a sample mean payment time of 65 invoices less than or equal to 18.1077 days? Format your assignment consistent with APA format. Click the Assignment Files tab to submit your assignment.
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