Statistics for Business Decisions

Assessment Task – Tutorial Questions
Unit Code: HI6007
Unit Name: Statistics for Business Decisions
Assignment
: Tutorial Questions 1
Due: 11:30pm 15th May 2020
Weighting: 25%
Total Marks: 50 marks
Purpose
: This assignment is designed to assess your level of knowledge of the key topics covered in
this unit
Unit Learning Outcomes Assessed:
1. Students are able to apply appropriate business research methodologies to support
decision-making process.
2. Students are able to identify and apply valid statistical techniques in a given scenario to
solve business problems.
3. Students are able to justify and interpret the results of a statistical analysis in the context
of critical reasoning for a business problem solving.
4. Students are able to apply statistical knowledge to summarize data graphically and
statistically, either manually or via a computer package.
5. Students are able to justify and interpret statistical/analytical scenarios that best fit
business solution.
6. Students are able to justify value and limitations of the statistical techniques to business
decision making.
Description: Each week students were provided with three tutorial questions of varying degrees of
difficulty. These tutorial questions are available in the Tutorial Folder for each week on Blackboard.
The Interactive Tutorials are designed to assist students with the process, skills and knowledge to
answer the provided tutorial questions. Your task is to answer a selection of tutorial questions for
weeks 2 to 6 inclusive and submit these answers in a single document.
The questions to be answered are;
Week 2
Question
1 (10 marks)
In your own words, differentiate the following statistical terminologies with some examples.
a. Population Parameter and Sample Statistic (2.5 marks)
b. Descriptive Statistics and Inferential Statistics (2.5 marks)

c. Nominal Scale and Ordinal Scale (2.5 marks)
d. Primary Data Source and Secondary Data Source (2.5 marks)
Week 3
Question 1 (10 marks)
Data showing the population by state in millions of people follow (The World Almanac, 2012). The
dataset in Excel file 2012Population.xlsx.
a. Develop a frequency distribution, a percent frequency distribution, and a histogram.

Use a class width of 2.5 million.
b. Does there appear to be any skewness in the distribution? Explain.
(4 marks)
(3 marks)

c. What observations can you make about the population of the 50 states? (3 marks)
Week 4
Question
2 (10 marks)
Forty-three percent of Americans use social media and other websites to voice their opinions about
television programs (the Huffington Post, November 23, 2011). Below are the results of a survey of
1364 individuals who were asked if they use social media and other websites to voice their opinions
about Television programs

Uses Social Media and Other Websites to
Voice Opinions About Television Programs
Doesn’t Use Social Media and
Other Websites to Voice
Opinions About Television
Programs
Female 395 291
Male 323 355

a.

Show a joint probability table.
What is the probability a respondent is female?
(2 marks)
(2 marks)
What is the conditional probability a respondent uses social media and other websites to voice
opinions about television programs given the respondent is female? (3 marks)
Let F denote the event that the respondent is female and A denote the event that the
respondent uses social media and other websites to voice opinions about television programs.
Are events F and A independent? (3 marks)

b. c. d. Week 5
Question
3 (10 marks)
The average starting salary for this year’s graduates at a large university (LU) is $20,000 with
a standard deviation of $8,000. Furthermore, it is known that the starting salaries are normally
distributed.
a. What is the probability that a randomly selected LU graduate will have a starting salary
of at least $30,400? (3 marks)

b. What is the probability that a randomly selected LU graduate will have a salary of

exactly $30,400? (2 marks)
Individuals with starting salaries of less than $15600 receive a low income tax break.
What percentage of the graduates will receive the tax break? (2 marks)
If 189 of the recent graduates have salaries of at least $32240, how many students
graduated this year from this university? (3 marks)

c. d. Week 6
Question
3 (10 marks)
The College Board reported the following mean scores for the three parts of the SAT (
The World
Almanac, 2009):
Critical reading 502
Mathematics 515
Writing 494
Assume that the population standard deviation on each part of the test is 100.
a) What is the probability that a random sample of 90 test takers will provide a sample mean
test score within 10 points of the population mean of 502 on the Critical reading part of the
test? (4 marks)
b) What is the probability that a random sample of 90 test takers will provide a sample mean
test score within 10 points of the population mean of 515 on the Mathematics part of the
test? Compare this probability to the value computed in part (a). (6 marks)
Submission Directions:
The assignment has to be submitted via Blackboard.
Each student will be permitted one
submission to Blackboard only.
Each student needs to ensure that the document submitted
is the correct one.

Academic Integrity
Academic honesty is highly valued at Holmes Institute. Students must always submit work
that represents their original words or ideas. If any words or ideas used in a class posting or
assignment submission do not represent the student’s original words or ideas, the student
must cite all relevant sources and make clear the extent to which such sources were used.
Written assignments that include material similar to course reading materials or other
sources should include a citation including source, author, and page number.
In addition, written assignments that are similar or identical to those of another student in
the class is also a violation of the Holmes Institute’s Academic Conduct and Integrity Policy.
The consequence for a violation of this policy can incur a range of penalties varying from a
50% penalty through to suspension of enrolment. The penalty would be dependent on the
extent of academic misconduct and the student’s history of academic misconduct issues.
All assessments will be automatically submitted to SelfAssign to assess their originality.
Further Information:
For further information and additional learning resources, students should refer to their Discussion
Board for the unit.