Statistics homework help

 You are a marketing manager for a very important shopping center in your city. You are interested in studying the behavior of buyers with respect to the amount spent and the time they make their purchases in order to propose a new advertising campaign that also involves granting certain discounts and promotions.
It has been concluded from the study that 70% of the shoppers in the shopping center make their purchases on weekends and also spend more money during that period.
If the amount of money buyers spend on Saturdays between 5 pm and 8 pm has a normal distribution with mean $ 90 and standard deviation of $ 5. Then you select a buyer at random and want to determine how they will spend their money.
 
1. What is the probability that he spent more than $ 90? And the one that has spent less than USD 90?
2. What is the probability that he spent between $ 80 and $ 100?
3. Standardize the probability distribution
4. Find the probability that you spent less than $ 50 but using the new standardized function.
5. Represent graphically.

Statistics homework help

Before beginning work on this week’s discussion post, review the following resources:

From the below list, select one topic for which you will lead the discussion in the forum this week. Early in the week, reserve your selected topic by posting your response (reservation post) to the Discussion Area, identifying key words about your topic in the subject line.
By the due date assigned, research your topic and start a scholarly conversation as you respond with your initial or primary post to your own reservation post in the Discussion Area. Make sure your response does not duplicate your colleagues’ responses:
Topic:

  • Evaluate the difference between simple and multiple linear regression techniques, including example business or research scenarios where you can apply them.

As the beginning of a scholarly conversation, your initial post should be:

  • Succinct—no more than 500 words.
  • Provocative—use concepts and combinations of concepts from the readings to propose relationships, causes, and/or consequences that inspire others to engage (inquire, learn). In other words, take a scholarly stand.
  • Supported—scholarly conversations are more than opinions. Ideas, statements, and conclusions are supported by clear research and citations from course materials as well as other credible, peer-reviewed resources.

Statistics homework help

Instructions

Skill Exercise

Develop a five-question multiple-choice quiz covering at least three of the topics listed below. Include an answer key with a brief explanation of your choice. Your answer key should include appropriate citations and references to support the accuracy of your answers.

  • Scatter diagram
  • Correlation coefficient
  • Range for correlation coefficient
  • Independent and dependent variables
  • Simple linear regression
  • Multiple linear regression
  • Prediction

Submission Details:

  • Submit your quiz as a Microsoft Word document.
  • Name your document SU_BUS7200_W5_Skills_LastName_FirstInitial.doc

Statistics homework help

All posts must 100% original work. no plagiarism. Post results must be provided using Excel. Make sure you interpret your results on a Word Document.
Recall the car data set you identified in Forum 2 excel attached. We know that this data set is normally distributed using the mean and SD you calculated.  (Be sure you use the numbers without the supercar outlier)
For the next 4 cars that are sampled, what is the probability that the price will be less than $500 dollars below the mean?  Make sure you interpret your results.
Please note: we are given a new sample size, we will need to calculate a new SD.  Then, to find the value that is $500 below the mean you will need to take the mean and subtract $500 from it.  For example, if the mean is $15,000 then $500 below this would be $14,500.  Thus the probability you would want to find is P(x < 14,500).
For the next 4 cars that are sampled, what is the probability that the price will be higher than $1000 dollars above the mean?  Make sure you interpret your results.  Use the same logic as above.  If your mean is $15,000 then $1,000 above is 15,000 + 1,000 = $16,000.  Thus the probability you would want to find is P(x > 16,000).
For the next 4 cars that are sampled, what is the probability that the price will be equal to the mean?  Make sure you interpret your results.  Use the same logic as above.
For the next 4 cars that are sampled, what is the probability that the price will be $1500 within the mean?  Make sure you interpret your results.  Use the same logic as above.
I encourage you to review the Week 4 normal probabilities PDF at the bottom of the discussion.  This will give you a step by step example to follow and show you how to find probabilities using Excel.  I also encourage you to review the Week 4 Empirical Rule PDF.  This will give you a better understanding on how to utilize the empirical rule.
  • attachment

    Forum2.xlsx
  • attachment

    Week4EmpiricalRule.pdf
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    Week4normalprobabilities.pdf