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QNT 351 Final Exam Guide (New)
Q1 The Director of Golf for a local course wants
to study the number of rounds played by members
on weekdays. He gathered the sample information
shown below for 520 rounds. At the .05
significance level, is there a difference in the
number of rounds played by day of the week?   2An
auditor for American Health Insurance reports
that 20 of policyholders submit a claim during
the year. 15 policyholders are selected randomly.
What is the probability that at least 3 of them
submitted a claim the previous year?
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QNT 351 Final Exam Guide
  1) The main purpose of descriptive statistics
is to   2) The general process of gathering,
organizing, summarizing, analyzing, and
interpreting data is called     3) The
performance of personal and business investments
is measured as a percentage, return on
investment. What type of variable is return on
investment?  
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QNT 351 Week 1 Connect Problems
QNT 351 Week 1 Connect Problem 1. Which of the
following is an example of a continuous
variable? 2. The incomes of 50 loan applicants
are obtained. Which level of measurement is
income? 3. The members of each basketball team
wear numbers on their jerseys. What scale of
measurement are these numbers considered? 4. The
reported unemployment is 5.5 of the population.
What measurement scale is used to measure
unemployment? 5. The Nielsen Ratings break down
the number of people watching a particular
television show by age. What level of measurement
is age?
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QNT 351 Week 1 DQ 1
Week 1 DQ1 Where would you see descriptive
statistics used in your work place?
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QNT 351 Week 1 DQ 2
Week 1 DQ2 How would you define dependent and
independent variables? What is their significance
in research? Explain with examples.
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QNT 351 Week 1 DQ 3
Develop five demographic questions to measure
gender, age, years of experience, level of
education, and ethnicity. Identify the level of
measurement used for each
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QNT 351 Week 1 DQ 4
How would you define a variable? What is the
difference between a dependent and independent
variable? Do you think both variables are used in
every research? Explain why or why not. Provide
examples. 
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QNT 351 Week 1 DQ 5
What is the importance of statistics in business
decision making? Describe a business situation
where statistics was used in making a decision.
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QNT 351 Week 1 DQ 6
What are the four data measurement scales?
Provide two examples and explain the importance
of each in business research.
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QNT 351 Week 1 Individual Assignment Statistics
in Business (2 Sets)
This tutorial contains 2 different Sets of
papers  Define statistics. Identify different
types of statistics. Describe the role of
statistics in business decision making. Write a
300-word summary providing at least three
examples or problem situations in which
statistics was used or could be used.
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QNT 351 Week 1 Introduction to Statistical
Thinking Worksheet
Complete the Introduction to Statistical Thinking
Worksheet. Format your assignment consistent with
APA guidelines. Click the Assignment Files tab to
submit your assignment. 1.      There are 23
people at a party. Explain what the probability
is that any two of them share the same
birthday.  2.      A cold and flu study is
looking at how two different medications work on
sore throats and fever.  Results are as
follows          Sore throat - Medication A 
Success rate - 90 (101 out of 112 trials were
successful)          Sore throat - Medication
B  Success rate - 83  (252 out of 305 trials
were successful)
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QNT 351 Week 2 Connect Problems
QNT 351 Week 2 Connect Problem 1. The director of
admissions at Kinzua University in Nova Scotia
estimated the distribution of student admissions
for the fall semester on the basis of past
experience. a. What is the expected number of
admissions for the fall semester? b. Compute the
variance and the standard deviation of the number
of admissions.
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QNT 351 Week 2 DQ 1
Can mean, median, or mode be calculated from all
statistical data? Explain why or why not. When is
the mean the best measure of central tendency?
When is the median the best measure of central
tendency?
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QNT 351 Week 2 DQ 2
Describe a business situation, other than what
has already been selected by fellow students or
selected from the team assignment, where mean and
standard deviation can be used in decision
making. Describe how calculation of mean and
standard deviation can help in making a decision. 
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QNT 351 Week 2 DQ 3
What level of data is a telephone number? Explain.
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QNT 351 Week 2 DQ 4
Does all data have a mean, median, or mode? Why
or why not? When is the mean the best measure of
central tendency? When is the median the best
measure of central tendency?
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QNT 351 Week 2 DQ 5
Why is the population shape a concern when
estimating a mean? What effect does sample size,
n, have on the estimate of the mean?
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QNT 351 Week 2 Learning Team Assignment Data
Collection (2 Sets)
This tutorial contains 2 different Sets of
papers Discuss with your team whether you have
data from RES/351, and if your team would like to
use one team members data for the Learning Team
assignments in this course. If using data from
RES/351 Resources Data collected from
RES/351 Prepare a 700- to 1,050-word written
report along with a 5- to 7-slide Microsoft
PowerPoint presentation for the senior
management team or stakeholders of your RES/351
research project to present your findings.
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QNT 351 Week 2 Probability Worksheet
Complete the Probability Worksheet. Format your
paper consistent with APA guidelines. Click the
Assignment Files tab to submit your
assignment. Maximum and Minimum
Temperatures Search the Internet for U.S. climate
data. Choose the city in which you live. 
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QNT 351 Week 2 Team Assignment Descriptive
Statistics Real Estate Data Part 1 (New)
Search the Internet for a realty site. Select a
hometown of someone on your team in the search
section on the website you have chosen. When all
of the listings populate, make sure that the sort
criteria reads "New Listings." This ensures that
you are searching a random cross-section of
listings rather than favoring one price
range. Review the new listings that
populate. Create an Excel spreadsheet with 4
columns of the first 100 single family homes
listed, not including condominiums or townhouses.
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QNT 351 Week 3 Connect Problems
Award 10 out of 10.00 points   A sample of 43
observations is selected from a normal
population. The sample mean is 30, and the
population standard deviation is 3. Conduct the
following test of hypothesis using the 0.05
significance level.   a.         Is this a one-
or two-tailed test?               b.         What
is the decision rule? (Round your answer to 3
decimal places.) c.         What is the value of
the test statistic? (Round your answer to 2
decimal places.)  d.        What is your decision
regarding H0? e.         What is the p-value?
(Round your answer to 4 decimal places.)  
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QNT 351 Week 3 DQ 1
What are the differences between probability and
coincidence? Can the probability be more than 1
or less than 0? Explain why or why not.
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QNT 351 Week 3 DQ 2
What is the role of probability concepts in
business decision-making? Provide specific
examples.
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QNT 351 Week 3 DQ 3
What are the basic differences between a discrete
and a continuous distribution?
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QNT 351 Week 3 DQ 4
What are the characteristics of standard normal
distribution? Explain how to calculate the z-test
static. Explain how a z-value is used to
calculate the area under the distribution and the
meaning of P(0 to z) when z 1.96.
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QNT 351 Week 3 Individual Assignment Real Estate
Data
Resources Appendix A1 at the end of Basic
Statistics for Business and Economics Answer
question 68 in the Data Set Exercises from Ch. 3
of Basic Statistics for Business and
Economics. Answer question 34 in the Data Set
Exercises from Ch. 4 of Basic Statistics for
Business and Economics.
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QNT 351 Week 3 Team Assignment Sampling
Distributions Real Estate Part 2 (New)
Use the real estate data that you used for your
learning team project that was due in Week
2. Complete the Sampling Distributions - Real
Estate Part 2 worksheet. Format your assignment
consistent with APA guidelines. Click the
Assignment Files tab to submit your
assignment. Review the data and for the purpose
of this project please consider the 100 listing
prices as a population.           Explain what
your computed population mean and population
standard deviation were.
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QNT 351 Week 3 Team Assignment Summarizing and
Presenting Data (2 Sets)
This tutorial contains 2 different Sets of
papers If using RES/351 data Revise the
report submitted in Week Two based on the
feedback provided by the instructor in the team
assignment, and insight gained by reading.
Summarize the data collected using descriptive
statistics. Descriptive statistics should be in
the forms of frequency distribution table,
measures of mean, median, mode, standard
deviation, and graphical display of data.
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QNT 351 Week 4 Connect Problems
QNT 351 Week 4 Connect Problem   1)      The
Production department of Celitronics
International wants to explore the relationship
between the number of employees who assemble a
subassembly and the number produced. As an
experiment, 2 employees were assigned to assemble
the subassemblies. They produced 13 during a
one-hour period, then 4 employees assembled them.
They produced 22 during a one hour period. The
complete set of paired observation follows
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QNT 351 Week 4 DQ 1
What are some terms related to hypothesis testing
with which you are already familiar? Why do null
and alternative hypotheses have to be mutually
exclusive?
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QNT 351 Week 4 DQ 2
Why does the significance level differ among
industries? Will the null hypothesis be more
likely to be rejected at a 0.01 than a 0.10?
As the significance level increases to a 0.10
from a 0.01, which type error is more likely to
occur? What can be done to reduce the likelihood
of incurring this error?
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QNT 351 Week 4 DQ 3
Please explain the five steps used in hypothesis
testing. How does the five-step procedure for
hypothesis testing differ when comparing two
groups using a t- or z-test? How is the process
similar?
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QNT 351 Week 4 DQ 4
Please explain terms related to hypothesis
testing please explain null and alternate
hypotheses, explain the difference between two
different test statistics, then define the
equations used in both. Why do null and
alternative hypotheses have to be mutually
exclusive?
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QNT 351 Week 4 Individual Assignment Real Estate
Data
Resources Appendix A1 at the end of Basic
Statistics for Business and Economics Answer
question 60 (both parts a. and b.) in the Data
Set Exercises from Ch. 6 of Basic Statistics for
Business and Economics. Answer question 54 (both
parts a. and b.) in the Data Set Exercises from
Ch. 7 of Basic Statistics for Business and
Economics.
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QNT 351 Week 4 Learning Team Reflection (2 Sets)
QNT 351 Week 4 Learning Team Reflection This
tutorial contains 2 different sets Discuss the
following with your Learning Team The steps in
testing a research hypothesis Comparing the means
of two or more groups Calculating the correlation
between two variables Include the topics you feel
comfortable with, any topics you struggled with,
and how the weekly topics relate to application
in your field.
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QNT 351 Week 4 Two Population Means Worksheet
A tomato farmer with a very large farm of
approximately 2200 acres had heard about a new
type of rather expensive fertilizer which would
supposedly significantly increase his production.
The frugal farmer wanted to test the new
fertilizer before committing the large investment
required to fertilize a farm of his size. He
therefore selected 15 parcels of land on his
property and divided them each into two
portions.  He bought just enough of the new
fertilizer to spread over one half of each parcel
and then spread the old fertilizer over the other
half of each parcel. His yields in pounds per
tomato plant were as follows What if you were
the fertilizer sales representative and your job
was to prove the superiority of the new product
to the farmer? (1)        You should start by
running the same test he did in which he came to
the decision that he could not conclude a
difference. 
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QNT 351 Week 5 Individual Assignment Real Estate
Data
Resources Appendix A1 at the end of Basic
Statistics for Business and Economics Answer
question 58 in the Data Set Exercises from Ch. 10
of Basic Statistics for Business and
Economics. Answer question 62 in the Data Set
Exercises from Ch. 13 of Basic Statistics for
Business and Economics.
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QNT 351 Week 5 Learning Team Assignment Analyzing
and Interpreting Data Paper and Presentation
If using RES/351 data Ask your instructor for
specific information regarding the analysis you
are required to perform for your data
set.   Combine your Week Two Learning Team
assignment and Week Three findings with Week Five
findings and make a recommendation to the
research problem.
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QNT 351 Week 5 Team Assignment Real Estate
Regression Exercise
Complete the Real Estate Regression
Exercise. Format your paper consistent with APA
guidelines. Click the Assignment Files tab to
submit your assignment. You are consulting for a
large real estate firm.  You have been asked to
construct a model that can predict listing prices
based on square footages for homes in the city
youve been researching.  You have data on square
footages and listing prices for 100
homes.   1.       Which variable is the
independent variable (x) and which is the
dependent variable (y)?   2.      Click on any
cell.  Click on Insert?Scatter?Scatter with
markers (upper left). To add a trendline, click
Tools?Layout?Trendline?LinearTrendline
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The aim of education is the knowledge, not of
facts, but of values
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