Show your work! Submit both the Microsoft Word Document and your Excel Document in the same upload. All work must be done solely by you. Initial here ________as your signature that you received no outside help in the exam: (5 point deduction if there are no initials)

1. Given the following set of data (it is a population): 10, 12, 10, 14, 10, 12, 10, 10, 19, 10, 11, 18, 28, 210, 27, 16, 144 Using Excel's embedded formulas and UPLOADING YOUR EXCEL SHEET (10 point deduction if there is no uploaded sheet) with embedded calculations to demonstrate your skill at using computer technology for statistical analysis in a business setting, find the: a. Mean b. Median c. Mode d. Range e. Variance of the population f. Standard deviation of the population g. The 70th percentile - inclusive h. The IQR (interquartile range) i. Discuss whether or not an outlier exists in the data. Support your answer with mathematical evidence and a formula. j. The probability of drawing a number higher than 12 if one number was drawn at random from the list k. The probability of drawing a number higher than 12, not putting it back, and then drawing a second number higher than 12 from the list l. The probability of drawing a number higher than 12 GIVEN THAT an even number was drawn. Upload your Excel sheet to the final that you used for this. You must show the embedded formulas. 2. Make and insert a scatter diagram with trendline in EXCEL for the following: Book Pages (x variable) Price (y variable) A 188 $7.00 B 362 $9.25 C 244 $8.25 D 296 $8.75 E 185 $7.25 F 206 $7.50 G 130 $6.00 H 386 $9.99 Then a. Show the equation of the trendline on the scatter diagram along with the coefficient of correlation (r squared). Upload your Excel sheet. b. Using Pearson's Product Moment Correlation Coefficient, discuss the strength (strong, weak...) and type (positive, negative) of the relationship between pages and price. Make sure you have stated the value of r. c. According to the trendline, how much should a book that is 270 pages cost? d. According to the trendline, how many pages should a book that cost 11 dollars have? e. Discuss how confident you are in the answers to c and d, and use statistical concepts learned in this class to justify your answer. 3. Conduct a full hypothesis test using the p value method for the scenario below. Make sure all the steps are there. A good thing to do is to get the prompts from the Week 6 written assignment. A sample of 122 account balances of a credit company showed a mean customer balance of $2,222, but the marketing manager claimed that the mean balance for the population was $2,317. The marketing manager said the population standard deviation was $75. Use the p-value approach to conduct a full hypothesis test (all steps) that can be used to determine whether the mean of all account balances is different from $2,317. Let = .05. 4. Weekly demand at a grocery store for a brand of breakfast cereal is normally distributed with a mean of 640 boxes and standard deviation of 47 boxes. Sketch and insert the z graph with appropriate labels and shading and then determine the probability that the weekly demand is: a. 650 boxes or less. b. More than 710 boxes. c. Between 650 and 690 boxes. 5. In order to determine the average weight of carry-on luggage by passengers in airplanes, a sample of 77 pieces of carry-on luggage was collected and weighed. The average weight was 19.1 pounds. Assume that we know the standard deviation of the population to be 5.04 pounds. Determine a 99% confidence interval estimate for the mean weight of the carry-on luggage.

6. True or False? a. A sample will never be larger than the population. b. In a binomial experiment, there is only one outcome. c. As the confidence level increases for a data set, the range of the confidence interval increases. d. If you are finding a confidence interval for a mean, the mean will be in the center of your interval. e. A trendline is the line of best fit for a data set. f. The mean will always be the best representation of a set of data. g. An outlier will affect the median, but not the mode. h. The area under a normal curve is 1. i. If you were looking at a standard normal curve, the mean and mode are found at the highest point of that curve. j. When you have a small sample size and know the sample standard deviation, then you use t instead of z. k. A z value is a standard deviation and not a probability. l. Conditional probability is used when you want to find the probability of one event happening after another, and the first event has already happened. m. An r value of 0.02 means that you should use the trendline to interpolate. n. If you had a range of ages from 19-54 in a sample and you had their requested dollar amounts for food expenditure for a day, if you wanted to use a trendline made from that data to calculate what dollar amount a 33 year old would want, you would be interpolating.