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HI6007 Group Assignment

HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION

HI6007 Group Assignment

Due End of Week 10

WORTH 30%

(Maximum 5 students in the group)

MS Excel must be used for performing calculation/graphical presentation as required in this assignment

Question 1                                                                                                                   8 marks

Missy Walters owns a mail-order business specializing in clothing, linens, and furniture for children.  She is considering offering her customers a discount on shipping charges for furniture based on the dollar-amount of the furniture order.  Before Missy decides the discount policy, she needs a better understanding of the dollar-amount distribution of the furniture orders she receives.

Missy had an assistant randomly select 50 recent orders that included furniture.  The assistant recorded the value, to the nearest dollar, of the furniture portion of each order. The data collected is listed below (data set also provided in accompanying MS Excel file).

136    281    226    123    178    445    231    389    196    175

211    162    212    241    182    290    434    167    246    338

194    242    368    258    323    196    183    209    198    212

277    348    173    409    264    237    490    222    472    248

231    154    166    214    311    141    159    362    189    260

  1. Prepare a frequency distribution, relative frequency distribution, and percent frequency distribution for the data set using a class width of $50. (3 marks)
  2. Construct a histogram showing the percent frequency distribution of the furniture- order values in the sample. Comment on the shape of the distribution. (3 marks)
  3. Given the shape of the distribution in part b, what measure of location would be most appropriate for this data set? (2 marks)

Question 2                                                                                                                   6 marks

Shown below is a portion of a computer output for a regression analysis relating Y (demand)

and X (unit price).

ANOVA

                                   df                           SS                         

Regression                   1                         5048.818

Residual                     46                          3132.661

Total                           47                          8181.479

                                   Coefficients           Standard Error      

Intercept                     80.390                  3.102

X                                  -2.137                  0.248

  1. Determine whether or not demand and unit price are related. Use α = 0.05.

(2 marks)

  1. Compute the coefficient of determination and fully interpret its meaning.

Be very specific.                                                                                      (2 marks)

  1. Compute the coefficient of correlation and explain the relationship between demand and unit price. (2 marks)

Question 3                                                                                                                   6 marks

The following are the results from a completely randomized design consisting of 3 treatments.

Sum of

Degrees of

Mean

Source of Variation                 Squares     Freedom       Square       F                 

Between Treatments              390.58

Within Treatments (Error)       158.40                             

Total                                       548.98        23

Using α = .05, test to see if there is a significant difference between the means of the three populations. The sample sizes for the three treatments are equal.

Question 4                                                                                                                 10 marks

In order to determine whether or not the number of mobile phones sold per day (y) is related to price (x1  in $1,000), and the number of advertising spots (x2), data was gathered for 7 days. Part of the Excel output is shown below.

ANOVA

                        df                  SS                        MS              F                

Regression                           40.700

Residual                               1.016

Coefficients   Standard Error

Intercept          0.8051

x1                                0.4977          0.4617 x2                                0.4733          0.0387

  1. Develop an estimated regression equation relating y to x1 and x2.                  (2 marks)
  2. At α = 0.05, test to determine if the estimated equation developed in Part a represents

a significant relationship between all the independent variables and the dependent variable.(2 marks)

c.   At α = 0.05, test to see if β1  and β2 are significantly different from zero.  (2 marks)

d.   Interpret slope coefficient for X2 (2 marks)

e.   If the company charges $20,000 for each phone and uses 10 advertising spots, how many mobile phones would you expect them to sell in a day? (2 marks)

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