T2 2018 HA1011: Applied Quantitative Methods Group Assignment

This assignment solution for Applied Quantitative Methods covers various statistical concepts and methods. It includes the construction of frequency distribution tables and histograms, the computation of mean, median, and mode, and the application of these measures to a given dataset. The solution also explores the concepts of samples versus populations, standard deviation, and interquartile range (IQR). Furthermore, it delves into correlation analysis, regression equations, and the coefficient of determination. Probability calculations, including Bayesian probability, are also addressed, along with the analysis of different scenarios. Finally, the solution explores the distribution of prices, standard deviation, and probabilities related to train averages and shopper averages. The assignment also provides references to support the findings.

APPLIED
QUANTITATIVE
METHODS
STUDENT NAME/ID
[Pick the date]

Question 1
A. Frequency distribution table
B. Histogram
(c) Computation of mean, median and mode
Sorted data for median
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Sample size = 60
Sum of data points = 12,602
 Mean
 Median
 Mode
Maximum repetitions (frequency) = 140
Question 2
(a) The given set of data is categorised as sample not population because the data has been given
only for 7 weeks not for all the respective weeks on which the data is present for number of
flights at the airport and baggage’s sold. Further, this data would be termed as population only
when the complete data for all the weeks on which the airport operations are recorded has been
provided (Hillier, 2016). Here, only 7 week’s data has been given which refers that analyst has
taken a sample of 7 weeks data from the population data.
(b)Computation of standard deviation for number of flights at airport
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(a) Computation of IQR for number of baggage’s sod at airport
Sorted data for IQR
IQR is considered more appropriate measures as compared the standard deviation. It is because
IQR does not affect due to the presence of extreme values and the skewed data (Flick, 2015).
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(b) Computation of coefficient of correlation (R)
The variables are having linear positive association which is evident from the position value of
R. Further, the level of strength is moderate because the R value is closed to 0.5.
Question 3
(a) Regression equation computation
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Therefore,
(b) Computation of coefficient of determination
Only 20.57% change in the baggage’s sold has been explained by the change in the number of
flights at the airport. Hence, the model cannot be said a good fit.
Question 4
(a) Probability (player is club member or receive grassroots training) =
(100+20+40)/(40+50+100+20=0.762
(b) Probability (player is external and receive scientific training) = (50)/(40+50+100+20=0.238
(c) Probability (player is club member and receive scientific training) =40/(40+100) =0.286
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(d) Probability computation for various cases (Harmon, 2016).
The two events are not independent because the probabilities for the two events i.e. training and
recruitment are contingent.
Question 5
P(A) 0.6
P(B) 0.2
P(C) 0.1
P(D) 0.1
Thus,
Bayesian probability
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There is a 0.58 probability that a random customer prefer TV over radio and belongs to segment
A.
Question 6
Distribution of price
Mean distribution table
Mean
Computation of standard deviation (Medhi, 2016)
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Question 7
Mean = 250 km/hour
Standard deviation = 30 km/hour
(a) Probability train average is lower than 200km/hour
Probability train average is lower than 200km/hour is 0.0475.
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(b) Probability train average is higher than 200km/hour
Probability train average is higher than 200km/hour is 0.0475.
(c) Probability train average is fall between 210km/hour and 280km/hour
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Probability train average is fall between 210km/hour and 280km/hour is 0.7495.
Question 8
Mean = 448
Standard deviation = 21
Sample size =49
Probability that average is fall between 441 and 446 shoppers (Medhi, 2016)
Probability that average is fall between 441 and 446 shoppers is 0.2415.
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References
Flick, U. (2015) Introducing research methodology: A beginner's guide to doing a research
project. 4th ed. New York: Sage Publications
Harmon, M. (2016) 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.
Medhi, J. (2016) Statistical Methods: An Introductory Text. 4th ed. Sydney: New Age
International
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