Business Stats week 1

Week 1 Assignment

Question 1

The following information regarding the ten richest Americans was reported in a recent issue of Forbes.

1. How many elements are in the above data set?
2. How many variables are in this data set?
3. How many observations are in this data set?
4. Which variables are categorical and which are quantitative?

Question 2

A sample of the ages of 10 employees of a company is shown below.

20 30 40 30 50
30 20 30 20 40

• Using a method of your choosing, construct a dot plot for the above data.

Question 3

The following data shows the price of PAO, Inc. stock over the last eight months.

1. Develop a scatter diagram and draw a trend line through the points.
2. What kind of relationship exists between stock price and time (negative, positive, or no relation)?

Project Week 1

For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadheet. Download it here.

In this data set – the ROI data set – for 2 different majors (Business and Engineering), you are given a sample of the 20 best colleges according to ROI (ROI = Return on Investment) and their ‘School Type’, ‘Cost’, ’30-Year ROI’, and ‘Annual % ROI’. 

1. For each of the 2 majors create a pie chart using the column ‘School Type’.  Comment on your results.
2. For each of the 2 majors create a frequency distribution and histogram using the column ‘Annual % ROI’.  Group with starting at 6% (0.06), ending at 11% (0.11), and go by 0.5% (0.005).  

• For the histograms title your charts “Histogram Business Major: Annual % ROI” for Business majors and “Histogram Engineering Major: Annual % ROI” for Engineering Majors.  Comment on your results.