Block-1 Homework PDF

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NAISHA PATEL 14019517 IS-242 PROFESSOR: J SONG HOMEWORK-1 09/18/2020

2 Block 1 Homework Problems (100 pts): 1.1 Describe the differences with one example each between descriptive statistics and inferential statistics, limit the answer with 50 or fewer words (20 pts) ANSWER: Descriptive statistics is used to summarize and graph the data for a group that you choose. It gives understanding of the specific set of observations. Whereas inferential statistics uses techniques to study the data from the sample and makes inferences about the larger population from the sample chosen. For example: Descriptive statistics can be used to distribute colors of paint in an paint shop. Inferential Statistics uses SAT scores which could help to predict the chances of getting accepted to university in the USA by being from other country or in state. 1.2 For each of statistic and parameter, show the 2 examples with notation (20 pts) ANSWER: Statistics

Parameter

Mean

x

μ

Standard Deviation

σ

s

1.3 What is the level of measurement for each of the following variables (20 pts)?

a) SCSU course number such as 242 in IS 242 b) The temperature of patients in Fahrenheit c) Player numbers of Vikings football team ANSWER: a) Nominal: IS 242 is used to name a course in SCSU b) Interval: ‘O’ in Fahrenheit is not the lowest and these can also be negative values for patients. c) Nominal: players numbers represent no rankings are used.

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1.4 For the Retirement Funds.MTW file, compute descriptive statistics of 1YrReturn% and create boxplots of 1YrReturn% in various types (growth and value) (20 pts). Answer: RETIREMENT FUNDS.MTW Descriptive Statistics: 1YrReturn% Statistics Variable N N* Mean 1YrReturn% 316 0 14.396

SE Mean StDev Minimum Q1 Median Q3 Maximum 0.273 4.855 -11.280 11.800 14.475 16.805 33.980

1.5 For these questions, refer to The Normal Distribution and Other Continuous Distributions Chapter (Ch 6. Section 2). (20 pts).

4 Refer that X has a normal distribution of mean = µ and standard deviation = σ, then z has the standard normal distribution, where z = (X - µ)/ σ and use the cumulative Standardized Normal Distribution table in Appendix or D2L Statistics Tables. For the standard normal distribution, determine the following probabilities: a) P(z < 1.05) b) P ( -1.96 < z < 1.96) For x has a normal distribution with mean =100 and standard deviation = 10, determine the following probabilities: c) P( x < 85) d) P( x < 80 or x > 125) ANSWER:

a) Normal with mean = 0 and standard deviation = 1 x P( X ≤ x ) 1.05 0.853141

b)

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c) Normal with mean = 100 and standard deviation = 10 x P( X ≤ x ) 1.05 0.0000000

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d)...