Explore Qualitative and Quantitative Data Examples

In exercieses, use summation rules to compute the sum:
${\displaystyle \sum _{i=4}^{20}(i-3)(i+3)}$

An investor plans to put $50,000 in one of four investments. The return on each investment depends on whether next year’s economy is strong or weak. The following table summarizes the possible payoffs, in dollars, for the four investments.
$\begin{array}{|ccc|}\hline & Strong& Weak\\ Certificateofdeposit& 6,000& 6,000\\ Officecomplex& 15,000& 5,000\\ Landspeculation& 33,000& -17,000\\ Technicalschool& 5,500& 10,000\\ \hline\end{array}$
Let V, W, X, and Y denote the payoffs for the certificate of deposit, office complex, land speculation, and technical school, respectively. Then V, W, X, and Y are random variables. Assume that next year’s economy has a 40% chance of being strong and a 60% chance of being weak. a. Find the probability distribution of each random variable V, W, X, and Y. b. Determine the expected value of each random variable. c. Which investment has the best expected payoff? the worst? d. Which investment would you select? Explain.

For each pair of variables, indicate whether a two-way table would be appropriate for summarizing the relationship. In each case, briefly explain why or why not. Satisfaction with quality of local K through 12 schools (satisfied or not satisfied) and political party (Republican, Democrat, etc.). Height (centimeters) and foot length (centimeters).

Use the summation formulas to rewrite the expression without the summation notation. Use the result to find the sums for n= 10, 100, 1000, and 10,000. $\sum _{i=1}^n\frac{2i+1}{n^2}$

Car Repaors An automobile lealesrship has found that for every 140 cars sold, 23 will be brought back to the dealer for major repairs. If the dealership sells 980 cars this year, approximately how many cars will be brought back for major repairs?

Describe the summary of the perfomance of eight graders nationwide.

To Explain:the expected the mean, median,standard deviation and IQR to change.

Explain the effect of correcting the error has on the IQR and the standard deviation.
The professor calculated the IQR and the standard deviation of the test scores in question 6 before realizing her mistake that is she entered the top score as 46 but it was actually 56.

Find the proportion of professional male golfers-drive on an average of 280 yards or less.
Approximately 5 percent of professional male golfers are found to be less than an average of 280 yards.

Explain which measure of center best describes a typical wage at this company:the mean or the median.

Given that there are 32 eight-bit strings that begin 101 and 16 eight-bit strings that begin 1101, how many eight-bit strings begin either 101 or 1101?

What variable measures the association between two Quantitative variables (positive/negative and Strength of the relationship between them?

You deposit money into a saving account that earns interest. The balance Bo f the account after t years is given by ${\displaystyle B=1200\cdot {1.05}^{t}dollars.}$
a. Make a table that shows the account balance for years 0 through 10.
b. You want to buy a home entertainment center that costs $1500. How long will you need to wait to have enough money in your savings account? Report your answer to the nearest whole year.

Solve this question
${\displaystyle \frac{1-i}{2+4i}}$

The manager at Publix recently received information that customer satisfaction dropped at noon due to overcrowding in the checkout aisle. As a result, the manager went to the main floor to record the number of customers waiting in aisles 1-10 at noon.
Which of the following choices would be an accurate description of the way the "number of customers" is used in this data set?
a. individuals for the data set
b. continuous qualitative variable for this data set
c. discrete qualitative variable for this data set
d. qualitative variable for this set
e. continuous quantitative variable for this data set
f. discrete quantitative variable for this data set

Birth Weights Are the birth weights described quantitative data or categorical data?

(a)To find:the better job of summarizing the growth rates.
(b)To find:the measures in (d) the better job of summarizing the growth rates.

Find the mean and median wage.
A supervisor at $\mathrm{\$}1,200$ a week, an inventory manager at $\mathrm{\$}700$ a week, six stock boys at $\mathrm{\$}400$ a week and four drivers at $\mathrm{\$}500$ are employed by a small warehouse.
Mean:
The sum of all the entries divided by the total number of entries is known mean.

Gender is on variable of interest in a study of the effectiveness of a new medication.For data entry purposes, the researcher conducting the study assigns 1 for Male and 2 for Female. Is the gender data quantitative or qualtitative?

To Explain:the report about all of these growth rates.