Discuss the below:
Q1) The following data:
Table 1C Below
Manufacturer
Sales (in
Millions)
Bosch-Siemens $ 3,200
Electrolux $ 2,100
General Electric $ 6,350
Philips $ 1,800
Maytag $ 2,480
Whirlpool $ 8,950
Matsushita Electric $ 2,180
Total $ 27,060
Represents the annual worldwide sales ( in millions of dollars) of appliances by manufacturer for a given year. On the basis of the results above, which three manufactures collectively sell the most appliances in terms of sales on an annual basis? What is their collective share of the market? Explain
Q2) The following raw data is the result of selecting a random sample of new Ford Escorts and testing these cars for fuel efficiency (results are in miles per gallon: Here is the excel descriptive statistics.
Table 2A Below
Descriptive statistics
Miles per Gallon
Count 18
Mean 36.350
sample variance 3.037
sample standard
deviation 1.743
Minimum 33
Maximum 38.2
Range 5.2
Skewness -0.735
Kurtosis -0.739
coefficient of variation
(CV) 4.79%
1st quartile 35.225
Median 36.500
3rd quartile 37.800
interquartile range 2.575
Mode 37.800
Table 2A Continued
Stem and Leaf plot for Miles per Gallon
stem unit = 1
leaf unit = 0.1
Frequency Stem Leaf
2 33 0 2
2 34 2 3
2 35 1 6
4 36 3 4 5 5
5 37 6 8 8 8 9
3 38 0 1 2
18
Part A; discuss the property of variation for this data. Give specific ranges together with the percentage of data we'd expect to fall within that range. Also, what are the quartiles and what do they tell us?
Part B
Is the data skewed? If so how?
Part C
If you were advising Ford dealers on what to tell customers about fuel economy in the ford Escort, what would y ou tell them? Be specific and justify.
3) The following table:
Table 3C Below
East South Midwest West Totals
Hospitalization 102 98 39 62 301
Physician's Visit 263 514 120 351 1248
Outpatient Treatment 100 226 65 99 490
Totals 465 838 224 512 2039
Gives the number of claims at a large insurance company by kind and geographical region.
Part A
Refer to table, if a bill is chosen at random, what is the probability that it is either from the Midwest or from the south?
Part B
Refer to table, given that the bill is from the east, what is the probability that it is for a Physicians Visit?
4) The probability of obtaining a home equity loan from United Bank is 0.40. A random sample of 10 loan applications is selected. Find the probability that at least 7 will get a loan.
The appropriate binomial table is: Table 4A Below
Binomial Distribution
10 n
0.4 p
cumulative
X p(X) probability
0 0.00605 0.00605
1 0.04031 0.04636
2 0.12093 0.16729
3 0.21499 0.38228
4 0.25082 0.63310
5 0.20066 0.83376
6 0.11148 0.94524
7 0.04247 0.98771
8 0.01062 0.99832
9 0.00157 0.99990
10 0.00010 1.00000