Question? Call Us  +1 (817) 546-4770

HI6007 Statistics For Shape Being Asymmetric And Values

Academic Anxiety?

Get an original paper within hours and nail the task

156 experts online

Free Samples

HI6007 Statistics For Shape Being Asymmetric And Values

.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}

HI6007 Statistics For Shape Being Asymmetric And Values

0 Download4 Pages / 776 Words

Course Code: HI6007
University: Holmes Institute

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Questions:
 

a. Prepare a frequency distribution, relative frequency distribution, and percent frequency distribution for the data set using a class width of $50.
 
b. Construct a histogram showing the percent frequency distribution of the furnitureorder values in the sample. Comment on the shape of the distribution. 
 
c. Given the shape of the distribution in part b, what measure of location would be most appropriate for this data set?

Answer:

For the given data set the frequency distribution is represented in the table given below 

For the percentage frequency of the data, the histogram is represented below: 

The graph has an asymmetric shape viewing the unequal length of the tail on either sides. For a symmetric graph these have to be equal. Owing to the shape being asymmetric, the values on the right end such as in excess of $ 450 can be outliers or abnormal values (Hillier, 2016)

The mean is considered to be the default measure of central tendency but this assumption holds true only when the data is not skewed. In the presence of skew, the mean can be potentially leading due to the effect of the extreme values. Hence, a better choice to represent central tendency would be median which does not get impacted by outlier data (Hillier, 2016).

Question 2
ANOVA 

Test to find the presence of relation between variable 1 (Demand) and variable 2 (unit price)  

Assuming alpha = 0.05 or 5%
The p value with respect to the t value comes out to be 0.000.
Here,  and this lead rejection of   and acceptance of  
Since, slope cannot be taken as zero, hence it implies the linear relationship between the variables is significant and cannot be ignored (Koch, 2013). 

Coefficient of determination for the given case  

The above value symbolises the ability of the independent variable i.e. unit price to be able to account for 61.7% of the variation highlighted in the dependent variable i.e. demand. The remaining variation remains unexplained for which an additional independent variable might need to be inserted (Harmon, 2015). 
(c) Coefficient of correlation for the given case  
The appropriate correlation coefficient can be chosen considering whether the relationship between the given variables is directly proportional or inversely proportion. The slope of regression line is negative thus confirming that the relationship is indeed inversely proportional and hence the coefficient of correlation would be -0.786 (Hillier, 2016). 
Assuming alpha = 0.05 or 5%
The p value with respect to the F value comes out to be 0.000.
Here,  and this lead rejection of   and acceptance of  
Clearly, all the population means are not the same and there is significant deviation in atleast one population mean from the remaining means (Koch, 2013). 
ANOVA 
The regression equation based on the above shown output.  

The day is gathered for seven days (n =7). Degree of freedom in case of regression would be (k=2) 2 and in case of residual would be (n-k-1) =4. 

Assuming alpha = 0.05 or 5%
The p value with respect to the F value comes out to be 0.000.
Here,  and this lead rejection of   and acceptance of  
The null hypothesis rejection highlights the statistical significance of the multiple liner regression model since both the slopes are not insignificant (Harmon, 2015). 

Significance test for variable 1 (Mobile phone price) 

Assuming alpha = 0.05 or 5%
The p value with respect to the t value does not come out to be zero and has a significant value of 0.2060.
Here,  and this does not result in rejection of  .
Non-rejection of null hypothesis leads to conclusion that the value of slope can be taken as zero implying relationship not being significant between price and sales (Koch, 2013).
Similarly,
Significance test for variable 2 (Mobile phone advertising spots)  
Assuming alpha = 0.05 or 5%
The p value with respect to the t value comes out to be zero.
Here,  and this leads rejection of   and acceptance of
Rejection of null hypothesis leads to conclusion that the value of slope cannot be taken as zero implying relationship being significant between advertisement spots and sales (Hillier, 2016). 

The slope coefficient for  variable 2  (advertising spots ) is shown below:

Β advertising spots = 0.4733
Interpretation: The positive sign associated with the slope highlights that a proportional relationship exists between the given variables. Further, the magnitude highlights that if the advertising spots are increased or decreased by 1 unit, then the daily sales of mobile would also be expected to increase or decrease by 0.4733 units (Koch, 2013). 

From the above, the regression line equation can be written as shown below: 

Variable 1
Variable 2
Therefore,
Company would be able to clock a daily sales of 9,960 mobiles phone for a price of $20,000 and after doing 10 advertising spots. 
References
Harmon, M. (2015). Hypothesis Testing in Excel – The Excel Statistical Master (7th ed.). Florida: Mark Harmon.
Hillier, F. (2016). Introduction to Operations Research. (6th ed.). New York: McGraw Hill Publications.
Koch, K.R. (2013). Parameter Estimation and Hypothesis Testing in Linear Models (2nd ed.). London: Springer Science & Business Media.

Free Membership to World’s Largest Sample Bank

To View this & another 50000+ free samples. Please put
your valid email id.

E-mail

Yes, alert me for offers and important updates

Submit 

Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

UploadUnique Document

DocumentUnder Evaluation

Get Moneyinto Your Wallet

Total 4 pages

PAY 2 USD TO DOWNLOAD

*The content must not be available online or in our existing Database to qualify as
unique.

Cite This Work
To export a reference to this article please select a referencing stye below:

APA
MLA
Harvard
OSCOLA
Vancouver

My Assignment Help. (2020). Statistics For Shape Being Asymmetric And Values. Retrieved from https://myassignmenthelp.com/free-samples/hi6007-statistics-for-shape-being-asymmetric-and-values/abnormal-values.html.

“Statistics For Shape Being Asymmetric And Values.” My Assignment Help, 2020, https://myassignmenthelp.com/free-samples/hi6007-statistics-for-shape-being-asymmetric-and-values/abnormal-values.html.

My Assignment Help (2020) Statistics For Shape Being Asymmetric And Values [Online]. Available from: https://myassignmenthelp.com/free-samples/hi6007-statistics-for-shape-being-asymmetric-and-values/abnormal-values.html[Accessed 18 December 2021].

My Assignment Help. ‘Statistics For Shape Being Asymmetric And Values’ (My Assignment Help, 2020) accessed 18 December 2021.

My Assignment Help. Statistics For Shape Being Asymmetric And Values [Internet]. My Assignment Help. 2020 [cited 18 December 2021]. Available from: https://myassignmenthelp.com/free-samples/hi6007-statistics-for-shape-being-asymmetric-and-values/abnormal-values.html.

×
.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}

×

Thank you for your interest
The respective sample has been mail to your register email id

×

CONGRATS!
$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1
month.

Account created successfully!
We have sent login details on your registered email.

User:

Password:

We provide all types of essays. comparision and contrast essays are common essays provided in assignments of high school and college. We have helped hundreds of students get epitomic comparision and contrast essays with valid points for and against and driving relevant and insightful comparision of ideas, topics, slants etc.Our comparision and contrast essays have a clear conclusive summary of all the points. No vague points are included in comparision.The essays have clear thesis statements and each paragraph contains clear topic sentences. Better than the best is what we aim for in such essays. Connect with us to ace your academic journey in style with quality works.

Latest Management Samples

div#loaddata .card img {max-width: 100%;
}

MPM755 Building Success In Commerce
Download :
0 | Pages :
9

Course Code: MPM755
University: Deakin University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answers:
Introduction
The process of developing a successful business entity requires a multidimensional analysis of several factors that relate to the internal and external environment in commerce. The areas covered in this current unit are essential in transforming the business perspective regarding the key commerce factors such as ethics, technology, culture, entrepreneurship, leadership, culture, and globalization (Nzelibe, 1996; Barza, 2…
Read
More

SNM660 Evidence Based Practice
Download :
0 | Pages :
8

Course Code: SNM660
University: The University Of Sheffield

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Answers:
Critical reflection on the objective, design, methodology and outcome of the research undertaken Assessment-I
Smoking and tobacco addiction is one of the few among the most basic general restorative issues, particularly to developed nations such as the UK. It has been represented that among all risk segments smoking is the fourth driving purpose behind infections and other several ailments like asthma, breathing and problems in the l…
Read
More
Tags:
Australia Maidstone Management Business management with marketing University of New South Wales Masters in Business Administration 

BSBHRM513 Manage Workforce Planning
Download :
0 | Pages :
20

Course Code: BSBHRM513
University: Tafe NSW

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Task 1
1.0 Data on staff turnover and demographics
That includes the staffing information of JKL industries for the fiscal year of 2014-15, it can be said that the company is having problems related to employee turnover. For the role of Senior Manager in Sydney, the organization needs 4 managers; however, one manager is exiting. It will make one empty position which might hurt the decision making process. On the other hand, In Brisba…
Read
More

MKT2031 Issues In Small Business And Entrepreneurship
Download :
0 | Pages :
5

Course Code: MKT2031
University: University Of Northampton

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Answer:
Entrepreneurial ventures
Entrepreneurship is the capacity and willingness to develop, manage, and put in order operations of any business venture with an intention to make profits despite the risks that may be involved in such venture. Small and large businesses have a vital role to play in the overall performance of the economy. It is, therefore, necessary to consider the difference between entrepreneurial ventures, individual, and c…
Read
More
Tags:
Turkey Istanbul Management University of Employee Masters in Business Administration 

MN506 System Management
Download :
0 | Pages :
7

Course Code: MN506
University: Melbourne Institute Of Technology

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Answer:
Introduction
An operating system (OS) is defined as a system software that is installed in the systems for the management of the hardware along with the other software resources. Every computer system and mobile device requires an operating system for functioning and execution of operations. There is a great use of mobile devices such as tablets and Smartphones that has increased. One of the widely used and implemented operating syste…
Read
More
Tags:
Australia Cheltenham Computer Science Litigation and Dispute Management University of New South Wales Information Technology 

Next

Need an essay written specifically to meet your requirements?

Choose skilled experts on your subject and get an original paper within your deadline

156 experts online

Your time is important. Let us write you an essay from scratch

Tips and Tricks from our Blog

PROJ6016 Employer Based Project

Free Samples PROJ6016 Employer Based Project .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} PROJ6016 Employer

Read More »

PPMP20009 Marking Rubric

Free Samples PPMP20009 Marking Rubric .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} PPMP20009 Marking Rubric

Read More »