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    Assignment-1key - Statistika

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    Cveta Jankoska
    This document contains an assignment on business statistics with 5 questions. It provides the calculations to find the mean, standard deviation, coefficient of correlation, values for a standard normal distribution, and probabilities involving a normal distribution for a sample population. The work shown includes computing sums, variances, standard deviations, and using the normal distribution to find probabilities.

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    Assignment-1key - Statistika

    Uploaded by

    Cveta Jankoska
    29 views2 pages
    This document contains an assignment on business statistics with 5 questions. It provides the calculations to find the mean, standard deviation, coefficient of correlation, values for a standard normal distribution, and probabilities involving a normal distribution for a sample population. The work shown includes computing sums, variances, standard deviations, and using the normal distribution to find probabilities.

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    Assignment-1key- statistika

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    This document contains an assignment on business statistics with 5 questions. It provides the calculations to find the mean, standard deviation, coefficient of correlation, values for a standard normal distribution, and probabilities involving a normal distribution for a sample population. The work shown includes computing sums, variances, standard deviations, and using the normal distribution to find probabilities.

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    29 views2 pages

    Assignment-1key - Statistika

    Uploaded by

    Cveta Jankoska
    This document contains an assignment on business statistics with 5 questions. It provides the calculations to find the mean, standard deviation, coefficient of correlation, values for a standard normal distribution, and probabilities involving a normal distribution for a sample population. The work shown includes computing sums, variances, standard deviations, and using the normal distribution to find probabilities.

    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
    of 2

    Gulf University for Science & Technology ECON-380: Business Statistics

    Department of Economics & Finance Dr. Khalid Kisswani


    Assignment 1

    1. A basketball player has the following points for a sample of seven games: 11, 15, 22, 8, 10, 12, 20.
    Compute the following measures (show your work):
    a. mean b. standard deviation

    a. The mean = ∑X/n = 98/7 = 14

    b. The standard deviation = √𝒗𝒂𝒓𝒊𝒂𝒏𝒄𝒆

    𝟐
    Variance = ∑(X - X̅)2/ n-1 = 166/6 = 27
    𝟑

    𝟐
    Hence: St. Deviation = √𝟐𝟕 = 5.26
    𝟑

    x x-xbar (x-xbar)2
    11 -3 9
    15 1 1
    22 8 64
    8 -6 36
    10 -4 16
    12 -2 4
    20 6 36
    ∑ = 166

    2. We found the following information for a sample of x and y:


    ∑(𝑥 − 𝑥̅ )(𝑦 − 𝑦̅) = − 120, ∑( 𝑥 − 𝑥̅ )2 = 100, ∑( 𝑦 − 𝑦̅)2 = 225, n = 26
    Find the coefficient of correlation (r) and interpret your answer (show your work).

    𝑪𝑶𝑽𝑿,𝒀
    r=
    𝐒𝒀 ∗ 𝑺𝑿

    ∑(𝒙− 𝒙
    ̅)(𝒚− 𝒚
    ̅) −𝟏𝟐𝟎
    𝑪𝑶𝑽𝑿,𝒀 = = = − 4.8
    𝒏−𝟏 𝟐𝟓

    ̅ )𝟐
    ∑( 𝒚− 𝒚 𝟐𝟐𝟓 ̅ )𝟐
    ∑( 𝒙− 𝒙 𝟏𝟎𝟎
    SY = √ =√ = 3, SX = √ =√ =2
    𝐧−𝟏 𝟐𝟓 𝐧−𝟏 𝟐𝟓

    − 𝟒.𝟖
    Hence: r = = - 0.8 (strong negative relation)
    𝟑 ∗𝟐

    @GUSTKWT - MyGUST.com
    3. If Z is a standard normal random variable, find the value Z0 for which:
    a. P (Z ˂ Z0) = 0.35 b. P (Z > Z0) = 0.82

    a. P (Z ˂ Z0) = 0.35 → P (Z0 ˂ Z ˂0) = 0.5 – 0.35 = 0.15

    Z0 = − 0.39

    b. P (Z > Z0) = 0.82 → P (Z0 ˂ Z ˂0) = 0.82 – 0.5 = 0.32

    Z0 = − 0.92

    4. A population has a mean of 50 and variance of 100. If a random sample of 64 is taken, what is the
    probability that the sample mean is each of the following:
    a. at most 52
    b. at most 47.5
    c. at least 46.8
    d. between 48.5 and 52.5
    e. between 50.6 and 51.3

    ̅ < 52) = P (Z < 𝟓𝟐 𝟏𝟎


    a. P ( 𝑿
    − 𝟓𝟎
    ) = P ( Z < 1.6)
    √𝟔𝟒
    = 0.5 + P ( 0 < Z < 1.6 ) = 0.5 + 0.4452 = 0.9452

    ̅ < 47.5) = P (Z < 𝟒𝟕.𝟓𝟏𝟎− 𝟓𝟎 ) = P ( Z < − 2)


    b. P ( 𝑿
    √𝟔𝟒
    = 0.5 − P ( 0 < Z < 2 ) = 0.5 − 0.4772 = 0.0228

    ̅ > 46.8) = P (Z > 𝟒𝟔.𝟖𝟏𝟎− 𝟓𝟎 ) = P ( Z > − 2.56)


    c. P ( 𝑿
    √𝟔𝟒
    = 0.5 + P ( 0 < Z < 2.56 ) = 0.5 + 0.4948 = 0.9948

    ̅ < 52.5) = P ( 𝟒𝟖.𝟓𝟏𝟎− 𝟓𝟎 ˂ Z < 𝟓𝟐.𝟓𝟏𝟎− 𝟓𝟎 ) = P (− 1.2 ˂ Z < 2)


    d. P (48.5 ˂ 𝑿
    √𝟔𝟒 √𝟔𝟒
    = P ( 0 < Z < 1.2 ) + P ( 0 < Z < 2 ) = 0.3849 + 0.4772 = 0.8621

    𝟓𝟎.𝟔 − 𝟓𝟎 𝟓𝟏.𝟑 − 𝟓𝟎
    ̅ < 51.3) = P (
    e. P (50.6 ˂ 𝑿 𝟏𝟎 ˂Z< 𝟏𝟎 ) = P (0.48 ˂ Z < 1.04)
    √𝟔𝟒 √𝟔𝟒
    = P ( 0 < Z < 1.04 ) − P ( 0 < Z < 0.48 ) = 0.3508 − 0.1844 = 0.1664

    @GUSTKWT - MyGUST.com

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