homework Chapter 1 What is Statistics? Chapter 2 Describing Data ( BUSINESS STATISTICS)

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1. Please complete “2) Homework Assignment for 36 points” it going to be in weel 1 overview doc. which has 4 question and the 4 one is the diccussion post.

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Chapter 1
What is Statistics?
Chapter 2
Describing Data
Learning Objectives
After studying the material in Chapter 1, you should be able to:
LO1-1 Explain why knowledge of statistics is important.
LO1-2 Define statistics and provide an example of how statistics is applied.
LO1-3 Differentiate between descriptive and inferential statistics.
LO1-4 Classify variables as qualitative or quantitative, and discrete or continuous.
LO1-5 Distinguish between nominal, ordinal, interval, and ratio levels of measurement.
LO1-6 List the values associated with the practice of statistics.
After studying the material in Chapter 2, you should be able to:
LO2-1 Summarize qualitative variables with frequency and relative frequency tables.
LO2-2 Display a frequency table using a bar or pie chart.
LO2-3 Summarize quantitative variables with frequency and relative frequency distributions.
LO2-4 Display a frequency distribution using a histogram or frequency polygon.
Suggested Study Outline
1. First, briefly go through chapters 1 and 2 in the textbook to familiarize yourself with the
material.
2. Then, skim through the power point slides which highlight key chapter material, and the lecture
files (this provides a synopsis of the week’s chapters).
3. Go through chapters 1 and 2 in the textbook in detail again and take a look at the sample
problems and the practice test questions before attempting the quiz and the assignment.
Assignment
1) Online Quiz for 14 points
Note: This assignment (quiz) is to be done individually.
Quiz comprises of 14 questions (a mix of quantitative and qualitative questions): 14 questions x 1 point
each = 14 points.
Quiz has two attempts with the quiz grade being the higher of the two attempts (the questions may
change with each of the attempts).
Quiz Availability is 12.01 am January 19 (Friday) to 11.59 pm January 23 (Tuesday).
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Quiz Duration is 60 minutes. Please make sure you time your answers to that you can complete all the
questions well within the allotted time.
Once started, the quiz needs to be completed in one sitting; the quiz will save and submit automatically
when the time limit expires.
The quiz results will be available after submission (first attempt – grade and incorrectly answered
questions) and the availability date (second attempt – final grade and all answers).
2) Homework Assignment for 36 points
36 points due by 11.59 pm January 23 (Tuesday).
Please provide detailed solutions to the following problems/exercises (4 problems/exercises x 9 points
each):
Note: You can team up with one of your classmates to complete the assignment (not more than two in a
team) only for problems/exercises 1), 2), and 3); if you want to work individually on the assignment,
that’s also fine. If you are working in teams, then only one submission is required per team; include both
the team members’ last names as part of the assignment submission file name as well as in the
assignment submission document.
1)
i) For each of the following, determine whether the group is a sample or a population.
a) The participants in a study of a new cholesterol drug.
b) The drivers who received a speeding ticket in Kansas City last month.
c) People on welfare in Cook County (Chicago), Illinois.
d) The 30 stocks that make up the Dow Jones Industrial Average.
ii) Slate is a daily magazine on the Web. Its business activities can be described by a number of variables.
What is the level of measurement for each of the following variables?
a) The number of hits on their website on Saturday between 8:00 a.m. and 9:00 a.m.
b) The departments, such as food and drink, politics, foreign policy, sports, etc.
c) The number of weekly hits on the Sam’s Club ad.
d) The number of years each employee has been employed with Slate.
2)
The results of a survey that collected the current credit card balances for 36 undergraduate college
students are given in the file “College Credit Card.’
a) Using the 2k > n rule, construct a frequency distribution for these data.
b) Using the results from a), calculate the relative frequencies for each class.
c) Using the results from a), calculate the cumulative relative frequencies for each class.
d) Construct a histogram for these data (on how to construct a histogram, follow this link, How to
construct a histogram in Excel)
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3)
The results of a survey that collected data on the number of students at different grade levels in an
University are given in the file ‘University Enrollment.’
a) Construct a bar chart (horizontal or vertical) that effectively displays these data (on how to construct
a bar chart, follow this link, How to construct a horizontal bar chart in Excel, How to construct a vertical
bar chart in Excel)
b) Construct a pie chart to display these data (on how to construct a pie chart, follow this link, How to
build a pie chart).
c) Referring to the graphs constructed in parts a) and b), indicate which you would favor (and why so) as
the more effective way of presenting these data.
4)
Note: This threaded discussion is an individual exercise. Please note that you are required to post at
least once to the threaded discussion topic, please use the threaded discussion space for your post(s);
the post can be done directly on the topic or as a response to any of your classmates’ post(s). In all your
post(s) please ensure “netiquette” is maintained.
Privacy/Confidentiality Implications of Data Collection & Dissemination
Data collected by organizations generally pertain to individuals, businesses, and natural events or
conditions (such as weather patterns or contamination). The types of personal data that are gathered
include age, race, sex, marital status, income, education, medical history, employment, travel itinerary,
buying patterns, etc. The data pertaining to individuals may be specific to an identified person; may be
anonymized by removing direct identifiers such as name, address, or social security number; or may be
aggregated over geographic, demographic, and other variables. The data are often collected under a
specific agreement or understanding as to how they will be used. For example, government records such
as tax returns, social security earnings, etc. are legally protected from inappropriate access and use by
the privacy law and other federal and state statutes. Public records such as voter registration records,
vehicle registrations, etc. are open to the public and most of these records do not have legal constraints
on their access and use. Business records such as credit records, insurance records, etc. are often
proprietary and limited to the business interests of the firm. The data collected are put to myriad
beneficial uses. For example, the government uses the data to effect improvements in service; detect
fraud, waste, and abuse; gain insights into crime, health, etc. for the purpose of enhancing public safety;
etc. Businesses use the data for market research, customer relations, supply chain analysis, financial
analysis, among others.
At the root of the data collection and usage efforts are the information characteristics of individuals –
from age and sex to occupation and income – that are used to estimate behavioral propensities. This
data is/was usually used at an aggregate level and so provided a considerable degree of data
confidentiality and protection of privacy. The advances in computing power has, however, enabled
organizations to use the data to micro-target individuals; i.e. mine multiple databases and hence tailor
products/services that appeal directly to individuals. This has given rise to fears of potential
misuse/abusive use of data: by having individual information disclosed without consent and by linking
records in databases that separately are not a threat to privacy but together provides organizations with
the capacity to identify specific persons. So, more complex the system of linked databases, the more
serious are the threats to confidentiality of information and the privacy of individuals; and as
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organizations use micro-targeting in a push towards leaner and meaner supply chains, the inherent
ethical dangers are inevitable. How can one reconcile the inherent tension that exists between an
individual’s right to privacy and the need for extensive, timely, and accurate data that enables
governmental and non-governmental organizations to function effectively?
Upload the completed assignment [for problems/exercises 1), 2), and 3)] using the file extension format
Lastname_Firstname_Week1.
Refer to the “Submissions” section in the “Annexure to Syllabus” document and the “Assessment
Rubrics” document for more information/instructions regarding assignment submissions.
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Grade Level
Freshman
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Number of Students
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1980
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