In product summary why it is important to have the units

Question

I. Find the sales data for Apple here: https://images.apple.com/pr/pdf/q1fy13datasum.pdf. (30 points)

a. How would you estimate the average revenues for Q1'13 using operating segments? Which is the best method? How would you interpret an average across countries here?

b. Is there enough information to estimate the average using the method you recommend?

c. In product summary why it is important to have the units listed? If you want to estimate average revenue for Apple products do you need to use the units? How?

II. Review the data in Table 1. It covers the median income for the top 25 Georgia counties. (50 points)

a. If John earns $62,591 annually in Henry County what would change for him if he moves to Cherokee county?

b. You want to demonstrate this data, how would you categorize it?

c. If you want to show the number of counties with a median income within a certain range how do you identify those ranges? How many bins you will choose? What kind of representation you will choose?

d. Use Excel to draw the graph and submit it as part of your work.

e. Consider the Median Income as a variable, report Mean, Median, STD, Variance and Quartiles for it.

f. Would you identify the counties which are between 25 percentile and 75 percentile (second and third quartiles)?

Table 1
Rank	County	Median
1	Forsyth	$84,567
2	Fayette	$77,491
3	Oconee	$74,630
4	Columbia	$68,986
5	Cherokee	$66,972
6	Henry	$63,892
7	Paulding	$63,663
8	Harris	$63,351
9	Cobb	$62,893
10	Coweta	$59,848
11	Gwinnett	$58,732
12	Bryan	$58,092
13	Lee	$57,044
14	Fulton	$56,313
15	Pike	$55,674
16	Effingham	$54,678
17	Monroe	$53,805
18	Dawson	$53,215
19	Rockdale	$51,265
20	Douglas	$50,798
21	Pickens	$50,798
22	Houston	$50,733
23	Jackson	$50,591
24	Walton	$50,321
25	Newton	$50,137
26	DeKalb	$50,092

III. Display the data in Table 1 using Stem Leaf approach and dot plot. (20 points)

IV. If X has a Normal distribution of N(10, 25) Please find

a) P ( X > 35)
b) P ( -15 < X < 35)
c) P ( X < 25)
d) If X is the average spending on a new notebook and I would like to find the top 5 percent big spenders how should I approach this?

V. I have chosen a sample of 50 students from 5000 students to study the GPA distribution across campus.

a. Can I assume the sample average has a Normal distribution?

b. If I am estimating standard deviation should I use a correction factory?

c. If in this sample GPA average is 2.25 and if the standard deviation of population GPA is 1.5 and population mean is 2.5 then what is the Normal distribution for population mean?

d. Please identify the area which includes population mean with 90 percent possibility.

Confidence Level	α	α/2	Area	zα/2
90%	.10	.05	.95	1.645
95%	.05	.025	.975	1.960
99%	.01	.005	.995	2.576

VI. In a sample of 101 Atlanta residents average income is $56,560. If the standard deviation of income in Atlanta area is $12,000 then please do the following:

a. 90% confidence interval for population mean

b. 95% confidence interval for population mean

c. 99% confidence interval for population mean

d. If a statistician report Atlanta median income is $55,733 since you can assume population mean is Normally distributed can you accept this number based on this number? Is there a confidence interval where $55,733 is smaller than lower bound or
higher than higher bound?

Degree of Freedom	Area in Upper Tail
	.20	.100	.050	.025	.010	.005
15	.866	1.341	1.753	2.131	2.602	2.947
16	.865	1.337	1.746	2.120	2.583	2.291
17	.863	1.333	1.740	2.110	2.567	2.898
18	.862	1.330	1.734	2.101	2.520	2.878
19	.861	1.328	1.729	2.093	2.539	2.861

VII. In a sample of 20 Atlanta residents average income is $57,960. If the standard deviation of income in Atlanta area is not known but based on your sample it is $10,000 then please do the following:

a. What is your degree of freedom?

b. 90% confidence interval for population mean

c. 95% confidence interval for population mean

d. 99% confidence interval for population mean

e. If a statistician report Atlanta median income is $55,733 since you can assume population mean is Normally distributed can you accept this number based on this number? Is there a confidence interval where $55,733 is smaller than lower bound or higher than higher bound?

Answer 1

Find out the solution of given task which is based on average revenues for Q1'13 using operating segments I. Discover the sales data for Apple a. How would you estimation the average revenues for Q1'13 using operating sections? Which is the best technique? How would you interpret an average across countries here? b. Is there enough information to estimation the average using the technique you recommend? c. In product summary why it is important to have the units listed? If you want to estimation average revenue for Apple products do you need to use the units? How? II. Review the data in Table It encloses the median income for the top 25 Georgia counties. a. If John earns $62,591 annually in Henry County what would transform for him if he moves to Cherokee county? b. You want to illustrate this data, how would you classify it?