QRB 501 Week 5 DQs Ver 1
This document of QRB 501 Week 5 Discussion Questions Ver 1 includes:
DQ 1: Create a database of 30 numbers. Define what the numbers mean and then use megastat to create a frequency distribution that includes a frequency, a relative frequency, a cumulative frequency and a cumulative relative frequency. Explain what these four columns mean. Also, explain the histogram and polygon the program prints out.
DQ 2: With the identical database, make use of Megastat to provide you the mean, median, mode, range, sample variance and sample standard deviation. Describe what each of these phrases signify.
DQ 3: The sums of dollars expected on house loan applications at Down River Federal Savings adhere to the normal distribution, with an average of$70,000 and a standard deviation of $20,000. A loan request is accepted this morning. What's the possibility
DQ 4: What is a frequency distribution?
DQ 5: What is the middle? In case we have student scores of 4.0, 3.7, 3.7, 3.7, 1.0 the mean would be 3.2 whereas the median and the mode would both be 3.7. Is one of them actually in the middle? How dispersed is this list? That is, how much do the scores differ from the middle? So now, look at a routine you do each day at the office. Which matters most, the average time it takes to finish it, the most frequent amount of time? How would you go regarding finding the middle on the process? How much does the time spent differ?
DQ 6: Precisely what is a normal distribution? In case we look at a procedure for example the one from question 5, and can in some way utilize a tool to normalize the data (change it to a normal distribution), how does that benefit us for testing to make certain the process is functioning correct?