Category Archives: QNT 561 (latest)

QNT 561 Week 2 Case Study MBA Schools in Asia Pacific latest

QNT 561 Week 2 Case Study MBA Schools in Asia Pacific latest

Review the Case Study: MBA Schools in Asia-Pacific and the Case Study: MBA Schools in Asia-Pacific data set.
Prepare a 1,050-word managerial report for your boss.
Use the following questions for guidelines and directions on what to include in the report:
1. What is the type of data (Quantitative or Qualitative) for each of the columns (variables) in the dataset? If quantitative, is the data discrete or continuous? Neatly summarize your response in a table for all the columns (variables).
2. Using Excel, find the mean, median, standard deviation, minimum, maximum, and the three quartiles for each of the quantitative variables identified in part 1 above. Neatly summarize in a table on this document. Comment on what you observe.
3. What are the minimum and maximum full-time enrollments? Which schools have the minimum and maximum full-time enrollments?
4. What is the average number of students per faculty member? Is this low or high? What does this mean to prospective applicants who are interested in pursuing an MBA in one of the leading international business schools?
5. What are the mean, median, and modal ages? What does this mean to prospective applicants?
6. What is the mean percentage of foreign students? How many and which schools have 1% and 0% foreign students? Which schools have highest percentage of foreign students? Please state these percentages.
7. What percentage of schools require the GMAT test?
8. What percentage of schools require English tests such as Test of English as a Foreign Language (TOEFL)?
9. What percentage of schools require work experience? From this percentage, does this appear to be a significant factor in gaining admissions?
10. What are the mean and median starting salaries? Which schools have the minimum and maximum starting salaries? How much are these minimum and maximum salaries?
11. What are the mean tuition for foreign students and for local students? Does there appear to be a significant difference? What is the difference between the two means?
12. How many schools require work experience and how many of them don’t? What is the mean starting salary for schools requiring work experience? What is the mean starting salary for schools requiring no work experience?
13. How many schools require English tests and how many don’t? What is the mean starting salary for schools requiring English tests? What is the mean starting salary for schools requiring no English tests?
14. Does there appear to be a correlation between age and starting salaries? Comment on the strength and the direction of the correlation.
15. Comment on the skewness for the data on starting salaries:
1.     Plot a histogram and determine the skewness.
2.     Find the skewness coefficient.
3.     Find the mean, median, and mode for starting salaries and compare the three measures to determine skewness.
16. Finally, use Empirical Rule on the starting salaries and determine whether the salaries follow the Empirical Rule.

The pursuit of a higher education degree in business is now international. A survey shows more and more Asians choose the master of business administration (MBA) degree route to corporate success. As a result, the number of applicants for MBA courses at Asia-Pacific schools continues to increase.

Across the region, thousands of Asians show an increasing willingness to temporarily shelve their careers and spend two years in pursuit of a theoretical business qualification. Courses in these schools are notoriously tough and include statistics, economics, banking, marketing, behavioral sciences, labor relations, decision making, strategic thinking, business law, and more. 

After your MBA, you get a job at Bloomberg in its media division, Bloomberg Business. Your division publishes reviews and rankings for business schools in the US and internationally. Because of your strong analytical education from University of Phoenix, your boss assigns you to work on preparing an analysis for data gathered for leading business schools in the Asia-Pacific. The data set in the Excel® file shows some of the characteristics of the leading Asia-Pacific business schools. 

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QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions Financial Data latest

QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions (Financial Data) latest

Purpose of Assignment
The purpose of this assignment to orient students to the key concepts in statistics. This assignment will introduce students to the language of statistics. Students will also get a chance to warm-up on evaluating some basic descriptive statistics using Excel® prior to the course start.
Assignment Steps
This assignment has an Excel dataset spreadsheet attached.
Resource: Microsoft Excel, Statistics Concepts and Descriptive Measures Data Set
Download the Statistics Concepts and Descriptive Measures Data Set.
Choose:
• Financial
Answer each of the following in a total of 90 words:
• For each column, identify whether the data is qualitative or quantitative.
• Identify the level of measurement for the data in each column.
• For each column containing quantitative data:
• Evaluate the mean and median
• Interpret the mean and median in plain non-technical terms
• Use the Excel =AVERAGE function to find the mean
• Use the Excel =MEDIAN function to find the median
• For each column containing quantitative data:
• Evaluate the standard deviation and range
• Interpret the standard deviation and range in plain non-technical terms
• Use the Excel =STDEV.S function to find the standard deviation
• For range (maximum value minus the minimum value), find the maximum value using the Excel =MAX function and find the minimum value using the Excel’s =MIN function
Company Type Total Revenues
AFLAC 6 7251
Albertson’s 4 14690
Allstate 6 20106
Amerada Hess 7 8340
American General 6 3362
American Stores 4 19139
Amoco 7 36287
Arco Chemical 2 3995
Ashland 7 14319
Atlantic Richfield 7 19272
Bausch & Lomb 5 1916
Baxter International 5 6138
Bristol-Myers Squibb 5 16701
Burlington Coat 1 1777
Central Maine Power 3 954
Chevron 7 41950
CIGNA 6 14935
Cinergy 3 4353
Dayton Hudson 1 27757
Dillard’s 1 6817
Dominion Resources 3 7678
Dow Chemical 2 20018
DPL 3 1356
E. I. DuPont DeNemours 2 46653
Eastman Chemical 2 4678
Edison International 3 9235
Engelhard 2 3631
Entergy 3 9562
Equitable 6 9666

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QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions Consumer Food latest

QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions (Consumer Food) latest

Purpose of Assignment
The purpose of this assignment to orient students to the key concepts in statistics. This assignment will introduce students to the language of statistics. Students will also get a chance to warm-up on evaluating some basic descriptive statistics using Excel® prior to the course start.
Assignment Steps
This assignment has an Excel dataset spreadsheet attached.
Resource: Microsoft Excel, Statistics Concepts and Descriptive Measures Data Set
Download the Statistics Concepts and Descriptive Measures Data Set.
Choose:
• Financial
Answer each of the following in a total of 90 words:
• For each column, identify whether the data is qualitative or quantitative.
• Identify the level of measurement for the data in each column.
• For each column containing quantitative data:
• Evaluate the mean and median
• Interpret the mean and median in plain non-technical terms
• Use the Excel =AVERAGE function to find the mean
• Use the Excel =MEDIAN function to find the median
• For each column containing quantitative data:
• Evaluate the standard deviation and range
• Interpret the standard deviation and range in plain non-technical terms
• Use the Excel =STDEV.S function to find the standard deviation
• For range (maximum value minus the minimum value), find the maximum value using the Excel =MAX function and find the minimum value using the Excel’s =MIN function
Annual Food Spending ($) Annual Household Income           ($) Non mortgage household debt ($)
8909 56697 23180
5684 35945 7052
10706 52687 16149
14112 74041 21839
13855 63182 18866
15619 79064 21899
2694 25981 8774
9127 57424 15766
13514 72045 27685
6314 38046 8545
7622 52408 28057
4322 41405 6998
3805 29684 4806
6674 49246 13592
7347 41491 4088
2911 26703 15876
8026 48753 16714
8567 55555 16783
10345 71483 21407
8694 50980 19114
8821 46403 7817
8678 51927 14415
14331 84769 17295
9619 59062 16687
9286 57952 14161
8206 58355 19538
16408 81694 15187
12757 69522 14651
17740 96132 0

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QNT 561 Final Exam Guide (New, 2017) latest

QNT 561 Final Exam Guide (New, 2017) latest

1.      James Desreumaux, VP of Human Resources of American First Banks (AFB), is reviewing the employee training programs of AFB banks.  His staff randomly selected personnel files for 100 tellers in the Southeast Region and determined that their mean training time was 25 hours.  Assume that the population standard deviation is 5 hours.  The 95% confidence interval for the population mean of training times is
2.       If  x  is a binomial random variable with n=10 and p=0.8, the mean value of x is______
3.       According to the central limit theorem, for samples of size 64 drawn from a population with µ =800 and σ = 56, the standard deviation of the sampling distribution of sample means would equal  ______
4.       Life tests performed on a sample of 13 batteries of a latest model indicated: (1) an average life of75 months, and (2) a standard deviation of 5 months.  Other battery models, produced by similar processes, have normally distributed life spans.  The 98% confidence interval for the population mean life of the latest model is _________
5.       A large national company is considering negotiating cellular phone rates for its employees Human Resource department would like to estimate the proportion of its employee population who own an Apple iPhone. A random sample of size 250 is taken and 40% of the sample own and iPhone.. The 95% confidence interval to estimate the population proportion is _______
6.       The number of bags arriving on the  baggage claim conveyor belt  in a 3 minute time period would best be modeled with the ________
7.       The weight of a USB flash drive is 30 grams and is normally distributed.  Periodically, quanlity  control inspectors at Dallas Flash Drives randomly select a sample of 17 USB flash drive. If the mean weight of the USB flash drives is too heavy or too light the machinery is shut down for adjustment; otherwise, the production process continues. The last sample showed a meanand standard deviation of 31.9 and 1.8 grams, respectively.    Using a = 0.10, theappropriate decision is_______
8.       Elwin Osbourne, CIO at GFS, Inc., is studying employee use of GFS e-mail for non-business communications. He plans to use a 95% confidence interval estimate of the proportion of e-mail messages that are non-business; he will accept a 0.05 error.  Previous studies indicate that approximately 30% of employee e-mail is not business related. Elwin should sample _______ e-mail messages
9.       The following frequency distribution was constructed for the wait times in the emergency room The frequency distribution reveals that the wait times in the emergency room are _______
10.   The number of cars arriving at a toll booth in five-minute intervals is Poisson distributed with a mean of 3 cars arriving in five-minute time intervals. The probability of    5 cars arriving over a five-minute interval is ________
11.   The number of finance majors within the School of Business is an example of _______
12.   According to the central limit theorem, for samples of size 64 drawn from a population with µ  = 800 and σ = 56, the mean of the sampling distribution of sample means would equal _______
13.   Consider the following null and alternative hypotheses Ho:  m ≤ 67 Ha:  m > 67  These hypotheses ___________
14.   A market research team compiled the following discrete probability distribution on the numberof sodas the average adult drinks each day.  In this distribution, x represents the number of sodas which an adult drinks
x
P(x)
0
0.30
1
0.10
2
0.50
3
0.10
The mean (average) value of x is ______________
15.   A researcher wants to determine the sample size necessary to adequately conduct a study to estimate the population mean to within 5 points. The range of population values is 80 and the researcher plans to use a 90% level of confidence. The sample size should be at least ______
16.   The mean life of a particular brand of light bulb is 1200 hours. If you know that at about 95% of this brand of bulbs will last between 1100 and 1300 hours, then what is the standard deviation of the light bulbs’ life?
17.   Completion time (from start to finish) of a building remodeling project is normally distributed with a mean of 200 work-days and a standard deviation of 10 work-days. To be 99% sure that we will not be late in completing the project, we should request a completion time of ______ work-day.
18.   A large industrial firm allows a discount on any invoice that is paid within 30 days.  Of all invoices, 10% receive the discount.  In a company audit, 10 invoices are sampled at random.  The probability that fewer than 3 of the 10 sampled invoices receive the discount is approximately_______________.​
19.   Suppose a population has a mean of 400 and a standard deviation of 24. If a random sample of size 144 is drawn from the population, the probability of drawing a sample with a mean less than 402 is _______
20.   If x is a binomial random variable with n=10 and p=0.8, what is the probability that x is equal to 4 ?
21.   The normal distribution is used to test about a population mean for large samples if the population standard deviation is known.  “Large” is usually defined as _______
22.   Lucy Baker is analyzing demographic characteristics of two television programs, Americandol (population 1) and 60 Minutes (population 2).  Previous studies indicate no difference in the ages of the two audiences (The mean age of each audience is the same.) Lucy plans to test this hypothesis using a random sample of 100 from each audience. Her null hypothesis is
23.   Maureen McIlvoy, owner and CEO of a mail order business for wind surfing equipment and supplies, is reviewing the order filling operations at her warehouses.  Her goal is 100% of orders shipped within 24 hours.  In previous years, neither warehouse has achieved the goal, but the East Coast Warehouse has consistently out-performed the West Coast Warehouse.  Her staff randomly selected 200 orders from the West Coast Warehouse (population 1) and 400 orders from the East Coast Warehouse (population 2), and reports that 190 of the West Coast Orders were shipped within 24 hours, and the East Coast Warehouse shipped 372 orders within 24 hours.  Maureen’s alternate hypothesis is _______
24.   Ophelia O’Brien, VP of Consumer Credit of American First Banks (AFB), monitors the default rate on personal loans at the AFB member banks.  One of her standards is “no more than 5% of personal loans should be in default.”  On each Friday, the default rate is calculated for a sample of 500 personal loans.  Last Friday’s sample contained 30 defaulted loans.  Ophelia’s null hypothesis is _______.​
25.   Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of a latest toothpaste package.  Her staff reports that 17% of a random sample of 200 households prefers the latest package to all other package designs.  If Catherine concludes that 17% of all households prefer the latest package, she is using _______.
26.   The empirical rule says that approximately what percentage of the values would be within 2 standard deviations of the mean in a bell shaped set of data
27. Medical Wonders is a specialized interior design company focused on healing artwork. The CEO, Kathleen Kelledy claims that artwork has healing effects for patients staying in a hospital, as measured by reduced length of stay. Her current client is a children’s cancer hospital. Kathleen is interested in determining the effect of three different pieces of healing artwork on children. She chooses three paintings (a horse photo, a bright abstract, and a muted beach scene) and randomly assigns six hospital rooms to each painting. Kathleen’s null hypothesis is _____________
28.   The expected (mean) life of a particular type of light bulb is 1,000 hours with a standard deviation of 50 hours. The life of this bulb is normally distributed.  What is the probability that a randomly selected bulb would last fewer than 940 hours
29.   The mean life of a particular brand of light bulb is 1200 hours and the standard deviation is 75 hours.  Tests show that the life of the bulb is approximately normally distributed.  It can be concluded that approximately 68% of the bulbs will last between _______.​
30.   A market researcher is interested in determining the average income for families in San Mateo County, California. To accomplish this, she takes a random sample of 300 families from the county and uses the data gathered from them to estimate the average income for families of the entire county.  This process is an example of _______.

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