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DeVry MATH 533 Full Course New

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DeVry MATH 533 Full Course New

DeVry MATH 533 Full Course New

MATH533

MATH 533 Full Course New

DeVry MATH 533 Week 1 Discussion New

Study and Sample Design (graded)

First Seed Question – A company makes men’s button-up dress shirts and is considering changes to its design. How might the company go about finding a good sample of individuals? These decisions would include method of sampling, location of sampling, population to consider, and number in sample, in addition to any other considerations.

To keep things organized in the TDAs, please always respond DIRECTLY to the “seed” questions TDA for each topic.

DeVry MATH 533 Week 2 Discussion New

Case: Let’s Make a Deal & Changing Probabilities Into Conditional Probabilities (graded)

A number of years ago, there was a popular television game show called Let’s Make a Deal. The host, Monty Hall, would randomly select contestants from the audience and, as the title suggests, he would make deals for prizes. Contestants would be given relatively modest prizes and then would be offered the opportunity to risk that prize to win better ones.

Suppose you are a contestant on this show. Monty has just given you a free trip worth $500 to a locale that is of little interest to you. He now offers you a trade: Give up the trip in exchange for a gamble. On the stage are three curtains, A, B, and C. Behind one of them is a brand-new car worth $45,000. Behind the other two curtains, the stage is empty.

You decide to gamble and give up the trip. (The trip is no longer an option for you.) You must now select one of the curtains. Suppose you select Curtain A.

In an attempt to make things more interesting, Monty then exposes an empty stage by opening Curtain C (he knows that there is nothing behind Curtain C). He then asks you if you want to keep Curtain A, or switch to Curtain B.

What would you do?

Hint: Questions to consider are: What is the probability of winning and the probability of losing the car prior to opening Curtain C? What is the probability of winning and the probability of losing the car after Curtain C is opened? What is your best strategy?

DeVry MATH 533 Week 3 Discussion New

Workplace Applications, Normal Distribution and Sampling Distributions (graded)

What is a “normal” population?  Our work this week introduces Normally distributed population to us, as well as Sampling distributions and the Central Limit Theorem.

Please review my posts below and respond.  In your responses, try to avoid just “giving the answer”.  If the question requires a calculation, explain what you did or show the major steps involved in the calculation.  We rarely want a “short, simple” answer!  It is always best to give the answer, and then explain how you arrived at the result.

You’ll notice that I post several questions.  You are not required to answer/work each question; I simply post questions to provide plenty of opportunity for responding to “new” material in the discussion.  Respond to as many of my posts as you wish. Minimum three (3) of course, though more very much welcome!

Remember to SHOW YOUR WORK so everyone can see your solution method.  If you use Minitab, be sure to describe or list the specific commands used.

DeVry MATH 533 Week 4 Discussion New

Confidence Intervals in Business (graded)

Consider when businesses might use confidence intervals to estimate values, such as in sales projections, marketing results, and so forth. Describe a business decision that could be helped with confidence intervals. Be specific! Then create a problem with numbers from which another student could calculate a confidence interval and make a decision.

DeVry MATH 533 Week 5 Discussion New

Hypothesis Testing (graded)

Using your workplace, present or prior, or an organization with which you are affiliated, identify a quantitative and a qualitative variable of interest to you. Set up the hypotheses for the population mean or proportion for the variables you have selected, and interpret your output.

DeVry MATH 533 Week 6 Discussion New

Regression Analysis (graded)

Suppose you are given data from a survey showing the IQ of each person interviewed and the IQ of his or her mother. That is all the information that you have. Your boss has asked you to put together a report showing the relationship between these two variables. What could you present, and why?

DeVry MATH 533 Week 7 Discussion New

Multiple Regression Variables (graded)

Research has found that completing an ethical course in school or business significantly predicts more ethical behavior. In addition to how many ethical courses were taken, the study also included the independent variables of gender, age, and certain personality characteristics. Ethical behavior was based on answers to next steps based on vignettes that did not have an obvious ethical outcome. How might this study be improved, and what other variables could be considered?

DeVry MATH 533 Complete Course Project New

Introduction

Your instructor will provide you with a data file that includes data on five variables:

SALES represents the number sales made this week.

CALLS represents the number of sales calls made this week.

TIME represents the average time per call this week.

YEARS represents years of experience in the call center.

TYPE represents the type of training the employee received.

Part A: Exploratory Data Analysis

Preparation

• Open the files for the Course Project and the data set.

• For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use Excel as much as possible, explaining what the results reveal. Some of the following graphs may be helpful: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, the measures of dispersion, and the shapes of the distributions (for the quantitative variables) for the above data. Where appropriate, use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use Excel as appropriate, and explain what the results mean.

• Analyze the connections or relationships between the variables. There are ten (10) possible pairings of two (2) variables. Use graphical as well as numerical summary measures. Explain the results of the analysis. Be sure to consider all 10 pairings. Some variables show clear relationships, whereas others do not.

Report Requirements

• From the variable analysis above, provide the analysis and interpretation for three individual variables. This would include no more than one graph for each, one or two measures of central tendency and variability (as appropriate), the shapes of the distributions for quantitative variables, and two or three sentences of interpretation.

• For the 10 pairings, identify and report only on three of the pairings, again using graphical and numerical summary (as appropriate), with interpretations. Please note that at least one pairing must include a qualitative variable, and at least one pairing must not include a qualitative variable.

• Prepare the report in Microsoft Word, integrating graphs and tables with text explanations and interpretations. Be sure to include graphical and numerical back up for the explanations and interpretations. Be selective in what is included in the report to meet the requirements of the report without extraneous information.

• All DeVry University policies are in effect, including the plagiarism policy.

• Project Part A report is due by the end of Week 2.

• Project Part A is worth 100 total points. See the grading rubric below.

Submission: The report, including all relevant graphs and numerical analysis along with interpretations

Format for report:

A. Brief Introduction

B. Discuss the first individual variable, using graphical, numerical summary and interpretation.

C. Discuss the second individual variable, using graphical, numerical summary and interpretation.

D. Discuss the third individual variable, using graphical, numerical summary and interpretation.

E. Discuss the first pairing of variables, using graphical, numerical summary and interpretation.

F. Discuss the second pairing of variables, using graphical, numerical summary and interpretation.

G. Discuss the third pairing of variables, using graphical, numerical summary and interpretation.

H. Conclusion

Part A: Grading Rubric

Category Points % Description
Three individual variables—12 points each 36 36 Graphical analysis, numerical analysis (when appropriate), and interpretation
Three relationships—15 points each 45 45 Graphical analysis, numerical analysis (when appropriate), and interpretation
Communication skills 19 19 Writing, grammar, clarity, logic, cohesiveness, adherence to the above format
Total 100 100 A quality paper will meet or exceed all of the above requirements.

Part B: Hypothesis Testing and Confidence Intervals

The data file includes four hypotheses labeled a. – d.

a. Mean sales per week exceeds 41.5 per salesperson

b. Proportion receiving online training is less than 55%

c. Mean calls made among those with no training is less than 145

d. Mean time per call is greater than 15 minutes

1. Using the same data set from Part A, perform the hypothesis test for each speculation in order to see if there is evidence to support the manager’s belief. Use the Seven Elements of a Test of Hypothesis from Section 7.1 of your textbook, as well as the p-value calculation from Section 7.3, and explain your conclusion in simple terms.

2. Compute confidence intervals (the required confidence level is included with the speculations) for each of the variables described in A–D, and interpret these intervals.

3. Write a report about the results, distilling down the results in a way that would be understandable to someone who does not know statistics. Clear explanations and interpretations are critical.

4. All DeVry University policies are in effect, including the plagiarism policy.

5. Project Part B report is due by the end of Week 6.

6. Project Part B is worth 100 total points. See grading rubric below.

Format for report:

A. Summary Report (about one paragraph on each of the speculations a. – d.)

B. Appendix with the calculations of the Seven Elements of a Test of Hypothesis, the p-values, and the confidence intervals—include the Excel formulas used in the calculations.

Part B: Grading Rubric

Category Points % Description
Addressing each speculation—20 points each 80 80 Hypothesis test, interpretation, confidence interval, and interpretation
Summary report clarity 20 20 One paragraph on each of the speculations
Total 100 100 A quality paper will meet or exceed all of the above requirements

.

Part C: Regression and Correlation Analysis

Use the dependent variable (labeled Y) and the independent variables (labeled X1, X2, and X3) in the data file. Use Excel to perform the regression and correlation analysis to answer the following.

1. Generate a scatterplot for the specified dependent variable (Y) and the X1 independent variable, including the graph of the “best fit” line. Interpret.

2. Determine the equation of the “best fit” line, which describes the relationship between the dependent variable and the selected independent variable.

3. Determine the coefficient of correlation. Interpret.

4. Determine the coefficient of determination. Interpret.

5. Test the utility of this regression model. Interpret results, including the p-value.

6. Based on the findings in Steps 1-5, analyze the ability of the independent variable to predict the designated dependent variable.

7. Compute the confidence interval for ?1 (the population slope) using a 95% confidence level.  Interpret this interval.

8. Using an interval, estimate the average for the dependent variable for a selected value of the independent variable. Interpret this interval.

9. Using an interval, predict the particular value of the dependent variable for a selected value of the independent variable. Interpret this interval.

10. What can be said about the value of the dependent variable for values of the independent variable that are outside the range of the sample values? Explain.

In an attempt to improve the model, use a multiple regression model to predict the dependent variable, Y, based on all of the independent variables, X1, X2, and X3.

11. Using Excel, run the multiple regression analysis using the designated dependent and three independent variables. State the equation for this multiple regression model.

12. Perform the Global Test for Utility (F-Test). Explain the conclusion.

13. Perform the t-test on each independent variable. Explain the conclusions and clearly state how the analysis should proceed. In particular, which independent variables should be kept and which should be discarded. If any independent variables are to be discarded, re-run the multiple regression, including only the significant independent variables, and summarize results with discussion of analysis.

14. Is this multiple regression model better than the linear model generated in parts 1-10? Explain.

15. All DeVry University policies are in effect, including the plagiarism policy.

16. Part C report is due by the end of Week 7.

17. Part C is worth 100 total points. See grading rubric below.

Summarize your results from Steps 1–14 in a three-page report. The report should explain and interpret the results in ways that are understandable to someone who does not know statistics.

Submission: The summary report and all of the work done in 1–14 (Excel output and interpretations) as an appendix

Format for report:

A. Summary Report

B. Points 1–14 should be addressed with appropriate output, graphs, and interpretations. Be sure to number each point 1–14.

Part C: Grading Rubric

Category Points % Description
Steps 1–12 and step 14, worth 5 points each 65 65 Addressed with appropriate output, graphs, and interpretations
Step 13 15 15 Addressed with appropriate output, graphs, and interpretations
Communication skills 20 20 Writing, grammar, clarity, logic, and cohesiveness
Total 100 100 A quality paper will meet or exceed all of the above requirements.

 

DeVry MATH 533 Full Course New

DeVry MATH 533 Full Course New

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