**DSME2011B Business Statistics**

**Homework 3**

**Reminders:**

- Due date: Nov-12-2020 (Thursday) before midnight.
- Please show the names, ID numbers and group number of all your group members on the cover page.
- Please submit your word file to VeriGuide and submit
__both__word__and__R scripts file to Blackboard.

- In basketball, a player who is fouled in the act of shooting gets to shoot two free throws. Suppose we hear that one player is an “85% free throw shooter.”
- If this player is fouled 25 times in the act of shooting (maybe over a period of several games), find the distribution of occasions where he makes both free throws. That is, if X is the number of times he makes both free throws, find P(X = k) for each k from 0 to 25.
- How likely is it that he will make both free throws on at least 20 of the 25 occasions?

- A family is considering a move from a midwestern city to a city in California. The distribution of housing costs where the family currently lives is normal, with mean $105,000 and standard deviation $18,200. The distribution of housing costs in the California city is normal with mean $235,000 and standard deviation $30,400. The family’s current house is valued at $110,000.
- What percentage of houses in the family’s current city cost less than theirs?
- If the family buys a $200,000 house in the new city, what percentage of houses there will cost less than theirs?
- What price house will the family need to buy to be in the same percentile (of housing costs) in the new city as they are in the current city?

- Suppose that if a presidential election were held today, 53% of all voters would vote for candidate Smith over candidate Jones. (You can substitute the names of the most recent presidential candidates.) If 2500 voters are sampled randomly, what is the probability that the sample will indicate (correctly) that Smith is preferred to Jones?
- Calculate the probability with binomial probability distribution.
- Calculate the probability with normal probability distribution (with
*m*=*np*and*s*^{2}=*np*(1 –*p*)). - Compare the answers obtained in (a) and (b) above. Are they close?

- It is known that the distribution of purchase amounts by customers entering a popular retail store is approximately normal with mean $25 and standard deviation $10.
- What is the probability that a randomly selected customer spends between $12 and $28 at this store?
- What is the probability that the average amount spent by 16 randomly selected customers is between $21 and $28?

- A randomly collected sample consists of the following data: 158, 233, 121, 261, 294, 149, 224, 156, 293, 273, 182, 223, 244, 130, 265, 244, 150. Construct a 95% confidence interval for
*µ.* - In a sample of 1200 randomly selected voters, 575 of them said that they would vote for Candidate A while 625 of them indicated that they would vote for Candidate B. There are only two candidates in this election. Construct a 95% confidence interval to estimate the percentage of votes that Candidate B will get. Do you have 95% confidence to predict that Candidate B will win the election?
- Suppose that you want to estimate an unknown population mean
*m*and the population standard deviation is known to be*s*= 3500.- If you want the error of margin to be 500 with 95% confidence, how big a sample size should you take?
- If you want the error of margin to be 100 with 99% confidence, how big a sample size should you take?

- In the coming US presidential election, if a pollster wants to predict the percentage of votes for President Trump to be within ±1% (margin of error) with 99% confidence, how big a sample size should he take? How about if he wants the margin of error to be 1.5% with 90% confidence?

For Questions 9 and 10, please refer to the file “budget_mart.csv”, which contains information of 1000 customers randomly selected from the database of Budget Mart – a large retailing firm. The data has the following variables:

** Age:** 1 if 30 or younger, 2 if 31 to 55, 3 if 56 or older

** Gender:** 1 if male, 2 if female

** Married: **1 if married, 2 otherwise

** Religion:** 1 if Buddhist, 2 if Muslim, 3 if Christian, and 4 Otherwise

** Education:** 1 if Below High School, 2 if High School, 3 if College, and 4 if Graduate

** Salary: **Annual salary

** Children:** Number of children

** AmountSpent: **Total amount spent on purchases this year

- Consider only those customers who are Christian. What proportion of them spend more than (≥) $3,000? Construct a 95% confidence interval to estimate the proportion of Christians who spend more than (≥) $3,000. Do the same for each of the other three religious groups of customers. Discuss the results.
- Let
*m*_{1}and*m*_{2}be the mean amount spent by*married*and*unmarried*customers, respectively.- Construct and interpret a 99% confidence interval for
*m*_{1}. - Construct and interpret a 99% confidence interval for
*m*_{2}. - Based on the results of (a) and (b) above, can you conclude with 99% confidence whether married or unmarried customers spend more on average?

- Construct and interpret a 99% confidence interval for

The post submit your word file to VeriGuide and submit both word and R scripts file to Blackboard. appeared first on Best Custom Essay Writing Services | EssayBureau.com.

Quality Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Qualified Writers

We have hired a team of professional writers experienced in academic and business writing. Most of them are native speakers and PhD holders able to take care of any assignment you need help with.

Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account.

Prompt Delivery

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. We will always strive to deliver on time.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

If you are looking for exceptional academic writing services, then you are in the right place. Studyacer offers customised academic assignments and academic papers for students at all levels.

Essays

Writing an essay can be a challenge. However, we know what every student needs. And we purpose to deliver. Here at StudyAcer, we do all we can to help with academic essays and assignments. We have a dedicated team of professional essay writers.

Assignment

We understand students need satisfactory results. Our cheap assignment writing service helps and never leaves any doubt. We always strive to ensure the ultimate and best results. It is our joy to offer a cheap reliable essay writing service.

Term paper

Have you been asking yourself, where can get a pre written research papers for sale? Worry no more, the fact that you have a term paper that is due tonight and you haven’t touched it. At Study Acer it is our responsibility to get your paper on time.

Dissertation

Several master’s students seek professional help with their thesis.Students from different parts of the world experience different challenges. Dissertations have different stages and the challenges are different too. Do not struggle in silence, order now .