BUSN 340 Business Statistics
Major Project Assignment
1.) Refer to the real estate data in Blackboard, which reports information on homes sold in the Phoenix, Arizona, area during the last year. Organize the data by the number of bedrooms into a frequency distribution.
A.) What is the typical number (average) of bedrooms?
B.) What are the fewest (minimum) and the most (maximum) number of bedrooms offered in the market?
2.) Sort the real estate data into a table that shows the number of homes that have a garage attached versus those that do not have a garage in each of the five townships. If a home is selected at random, compute the following probabilities.
A.) The home has a garage attached.
B.) Given that it is in Township 5, that it does not have a garage attached.
C.) The home has a garage attached and is in Township 3.
3.) Refer to the real estate data and develop the following confidence intervals using statistical software. (Minitab: Stat – Basic Statistics – Graphical Summary – Select variable, then enter a 95% Confidence Interval).
- A.)Develop a 95 percent confidence interval for the mean selling price of the homes.
- B.)Develop a 95 percent confidence interval for the mean distance the home is from the center of the city.
4.) Refer to the baseball data in Blackboard, which reports information on 30 major league teams for the 2008 baseball season. Select the variable that refers to the seating capacity (size) of the stadium. Find the mean, median, mode and the standard deviation.
5.) Refer to the baseball data in Blackboard. Assume the seating capacity (size) represents the population. Develop a histogram of the data. Would it seem reasonable from this histogram to conclude that the seating capacity population follows the normal distribution?
6.) Refer to the wage data, which report information on annual wages for a sample of 100 workers. Also included are variables relating to industry, years of education, and gender for each worker. (Minitab: Graph – Box plot – One y Simple – select variable)
- A.)Develop a box plot for the variable annual wage. Are there any outliers? Briefly explain your findings.
- B.)Develop a box plot for the variable years of education. Are there any outliers? Briefly explain your findings.