STAT1001 Statistical Analysis Assignment Help and Solution,

Assignment Detail:- STAT1001 Statistical Analysis - Southern Cross University Question 1Use the sample house prices -in $1,000s- shown in the table below to answer the following questions: 500 600 750 400 800 450 950 400 250 800 2000 700 600 300 -a- What are the mean and median for this dataset???? -b- What are the variance and standard deviation???? -c- Provide a five-number summary for house prices- -d- Why is the median house price preferred to mean house price???? Question 2Uber fares in a metropolitan city are known to follow a normal distribution with an average fare of $25-00 and a standard deviation of $3-00- -a- What is the probability that a randomly selected uber fare exceeds $30-00???? -b- If an uber driver on a morning shift had 20 customers, what is the probability that the average fare per trip during the shift was less than $24-50???? -c- If an uber driver had 25 customers during a shift, what is the probability that the total fare during the shift exceeds $650???? Question 3-a- A shop in downtown Perth is considering moving from its present location to Freemantle- One factor in this decision is the amount of time the shop's employees spend travelling to work- A random sample of 18 employees reveals that the mean and standard deviation of the time required to get to work are 37-5 and 11-3 minutes, respectively- Estimate the 95% confidence interval of the mean time to get to work- State all your assumptions and interpret your result- -b- One factor in choosing a location for a new clothing store is the mean clothing expenditure per household in the surrounding area- A survey of 16 households reveals that the mean and standard deviation of annual expenditure on clothes is $420 and $90, respectively- Can we conclude at the 5% level that the population mean annual expenditure is less than $500???? State any assumptions necessary, conduct this test and interpret your result- Question 4For the past few years, the number of customers of a drive-in bottleshop has averaged 20 per hour- This year, another bottleshop one kilometre away opened a drive-in window- The manager of the first shop believes that this will result in a decrease in customers- A random sample of 50 hours showed an average of 18-7 customers per hour with a standard deviation of 3-0- Can we conclude at the 5% level of significance that the manager's belief is correct???? Question 5In recent years, fishermen have suffered financial hardship because of shortened fishing seasons, reduced catches and lower market prices- Moreover, fishermen have complained about price fluctuations and have called for a system of minimum prices- One suggestion was that the size of the catch had an immediate impact on prices and that this relationship should be clarified before potential solutions were discussed- In an investigation of this issue, a random 12-week-period was selected to study the price of fish -$ per kg-- versus average daily catch -in 100 kgs-- The data collected were analysed, and the following results were obtained: Variable Coefficient Standard deviation p Constant 2-6344 0-3883 0-000 Catch -in 100 kgs- -0-0021755 0-0006475 0-007 R2 = 0-53 -a- What is the estimated regression line???? -b- Interpret the estimated catch coefficient- -c- Interpret the R2 value and comment on its strength- -d- Does catch significantly influence the price of fish???? -e- Find the predicted level of the price if the daily catch is 75,000 kg- Attachment:- Statistical Analysis-rar
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