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MGMT 650 Statistics for Managerial Decision Making Assignment - University of Maryland Global Campus, USA

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Q1. Create a spreadsheet that automatically calculates your grade in this class as you enter the grades that you receive. It should include: 1) the weights of each graded assignment, 2) your grade in each assignment, and 3) your final grade. Be sure to label everything: such as the places where the information, is stored; the names of each assignment; and where to add the actual grades that you receive. Make this sheet user friendly; especially for users that see the sheet for the first time.

To use this for your benefit, you may want to design it so that it can be used to calculate your interim grade before you have all the grades. After this week, you will receive the solution from your professor and you will be able to use your solution or our solution for future classes.


Weights

0.075

0.05

0.05

0.05

0.1

0.05

0.05

0.1

0.05

0.075

0.2

0.15



Sl.No

Student iD

Homework

Quiz 3

Quiz 4

Quiz 5

Mid Term Exam

Quiz 7

Quiz 8

Critical Review

Quiz 10

Homework 11

Final Exam

Class Participation

Final Grade

Remarks

1

SID001

98

38

52

84

63

90

42

48

87

62

53

48

60.55

Grade C

2

SID002

80

44

92

79

55

48

73

45

36

52

77

89

67.25

Grade B

3

SID003

92

91

54

98

83

36

76

35

72

78

97

51

72.95

Grade B

4

SID004

71

91

41

93

62

40

59

55

35

32

98

52

64.775

Grade C

5

SID005

52

54

38

89

46

96

99

37

93

46

60

69

61.45

Grade C

6

SID006

49

61

66

34

62

78

35

81

70

40

83

56

63.175

Grade C

7

SID007

53

97

94

50

52

75

76

85

87

39

40

54

60.65

Grade C

8

SID008

82

68

91

35

66

76

96

97

35

40

31

62

61

Grade C

9

SID009

40

48

57

41

31

75

35

72

54

76

73

89

62.45

Grade C

10

SID010

40

54

60

71

71

96

33

83

48

39

84

31

60.875

Grade C

11

SID011

87

92

53

89

74

36

40

70

96

49

44

69

64.05

Grade C

12

SID012

57

59

60

70

82

44

95

34

77

87

64

32

60.25

Grade C

13

SID013

76

64

94

63

78

32

81

70

62

43

88

58

69.825

Grade B

14

SID014

92

32

87

66

74

33

61

45

51

53

47

68

58.875

Grade C

15

SID015

33

98

44

66

42

57

68

64

36

55

79

41

57.6

Grade C

 


Points

Weight Acheved

Grade

Homework

98

7.35

98%

Quiz 3

38

1.9

38%

Quiz 4

52

2.6

52%

Quiz 5

84

4.2

84%

Mid Term Exam

63

6.3

63%

Quiz 7

90

4.5

90%

Quiz 8

42

2.1

42%

Critical Review

48

4.8

48%

Quiz 10

87

4.35

87%

Homework 11

62

4.65

62%

Final Exam

53

10.6

53%

Class Participation

48

7.2

48%

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Q2. Here is sample data showing the length of nails in boxes labled 1 1/4 inch. The data is in inches.

1.26

1.22

1.27

1.21

1.22

1.25

1.22

1.25

1.25

1.23

1.24

1.24

1.29

1.24

1.27

1.29

1.23

1.22

1.23

1.26

1.28

1.25

1.25

1.23

1.26

1.23

1.26

1.29

1.26

1.26

1.23

1.21

1.23

1.21

1.22

1.22

1.24

1.21

1.23

1.25

1.21

1.28

1.26

1.25

1.22

1.29

1.22

1.22

1.29

1.24

1.21

1.22

1.23

1.26

1.28

1.26

1.28

1.21

1.21

1.21

1.29

1.26

1.26

1.28

1.25

1.24

1.24

1.27

1.28

1.24

1.21

1.25

1.23

1.25

1.29

1.29

1.22

1.21

1.28

1.27

For the following questions, you must use Excel formulas in the cells so that Excel calculates the answers for you.

1) Compute the mean:

1.246

Compute the median

1.245

Find the mode

1.260

2) Compute the first quartile; use =QUARTILE.EXC()

1.220 First Quartile

Compute the third quartile; use =QUARTILE.EXC()

1.260 Third Quartile

3) Compute the interquartile range

0.040

4) Find the largest number

1.290

Find the smallest number

1.210

What is the range?

0.080

5) What is the Variance? Use =VAR.S()

0.001

What is the standard deviation? Use =STDEV.S()

0.026

6) What is the Coefficient of Variation, or the CV?

2.07%

7) When is the Coefficient of Variation especially useful?

The coefficient of variation is useful in finding the precision of the variable

Copy all of the data into a column, use Column M and go from cell M1:M80

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8) Use the Data Analysis tool on the numbers just copied to find the Descriptive Statistics:

Click on Data Analysis and Choose Descriptive Statistics

Click on the Summary Statistics box.

Highlight the mean, median, mode, Standard deviation, Range, Minimum, and Maximum

Notice that the Data Analysis tool gives you all of the info needed for this problem except for the quartiles, variance, and CV

Column1

Mean

1.2459

Standard Error

0.0029

Median

1.245

Mode

1.26

Standard Deviation

0.0258

Sample Variance

0.0007

Kurtosis

-1.113

Skewness

0.2358

Range

0.08

Minimum

1.21

Maximum

1.29

Sum

99.67

Count

80

9) Interpret the measures of central tendency within the context of this problem. Should the company producing the nails be concerned about the central tendency?

The mean length of nails in the box is 1.246 inch with a standard deviation of 0.026 inches. The median length of nails in the box is 1.245 inches and the recorded minimum and maximum length of the nails in the box is 1.21 inches and 1.29 inches respectively.

10) Interpret the measures of variation within the context of this problem. Should the company producing the nails be concerned about variation?

The standard deviation is 0.026 inches and the coefficient of variation is 2.07%, indicating that the variation does not show any biggest concern and hence the management can proceed with the current produciton technique.

11) Using the data on the Pivot Table Data Sheet, create a Pivot table showing.

The Type of Movie and the Domestic Gross of each Type; columns D and I on the Pivot Table Data Sheet.

Have three columns: Type, Count of Type, and Sum of Total Domestic Gross.

Format the Domestic Gross Field using $.

Row Labels

Count

Sum

Action

19

$1,269,342,930.00

Cartoon

12

$1,634,739,914.00

Comedy

37

$1,148,151,141.00

Documentary

10

$106,445,628.00

Drama

55

$1,479,028,725.00

Family

4

$246,128,748.00

Fantasy

4

$427,793,715.00

Horror

14

$779,935,002.00

Musical

2

$291,335,107.00

Romance

2

$25,937,130.00

Sci-Fi

13

$868,541,436.00

SuperHero

6

$2,459,594,075.00

Thriller

20

$627,854,287.00

Unknown

1

$2,999,134.00

Western

1

$3,143,056.00

Grand Total

200

$11,370,970,028.00

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12) Which type of movie had the highest Domestic Gross Total for 2018?

Super Hero

13) Which type of movie had the highest number of films made of that type in 2018?

Documentary

(You might try making more/different pivot tables to learn about the raw data. What do you want to know about Domestic Movies in 2018?)

Number of likes and dislikes for the movie.

Number of people who visited the theatre to watch the movie.

14) Use the Data in the Pivot Table Data Sheet to create a Frequency Chart:

What is the Total DomesticGross of the lowest movie sales? Hint - use either =MIN()or just choose the movie at the bottom of the list

$2,032,018

What is the Total DomesticGross of the highest movie sales? Hint - use either =MAX()or just choose the movie at the top of the list

$700,059,566

15) Subtract the lowest from the highest

The range of Total Domestic Gross for these movies is

$698,027,548

16) We will use 10 bins so divide the range by 10:

$69,802,754.80

Each bin will be: $69,802,755 wide.

Start with the minimum number: $69,802,754.80

Add the width of the bins $69,802,754.80

This number is the highest total for the first bin. Put this number is cell C21 for the first bin.

Now add the number that you just put into cell 21 to cell C27. Remember that C13 contains the width of each bin.

The next bin highest number starts with the first bin highest number and adds the size of the bins

Therefore, the second bin begins with $139,605,509.60 and adds the bin size $69,802,754.80 to get $209,408,264.40

Continue adding to get the Bins array for the =FREQUENCY() function.

The last bin number in cell C36 will equal the highest Domestic Gross movie total.

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17) Here are the highest numbers for each bin:


Bins:

Frequency:

$69,802,755

$139,605,509.60

177

$139,605,509.60

$209,408,264.40

10

$209,408,264.40

$279,211,019.20

7

$279,211,019.20

$349,013,774.00

2

$349,013,774.00

$418,816,528.80

1

$418,816,528.80

$488,619,283.60

0

$488,619,283.60

$558,422,038.40

0

$558,422,038.40

$628,224,793.20

1

$628,224,793.20

$698,027,548.00

1

$698,027,548.00

$767,830,302.80

1

18) Follow the instructions in the youtube videos to use the =FREQUENCY() array function.

You know that you have correctly used the =FREQUENCY() function if Excel automatically puts {} around the function.

Don't forget to push Control-Shift-Enter at the same time to enter the =FREQUENCY function.


Bins:

Frequency:

$69,802,755

$139,605,509.60

177

$139,605,509.60

$209,408,264.40

10

$209,408,264.40

$279,211,019.20

7

$279,211,019.20

$349,013,774.00

2

$349,013,774.00

$418,816,528.80

1

$418,816,528.80

$488,619,283.60

0

$488,619,283.60

$558,422,038.40

0

$558,422,038.40

$628,224,793.20

1

$628,224,793.20

$698,027,548.00

1

$698,027,548.00

$767,830,302.80

1

Copy the Bins and Frequency Data from the Q4 - Frequency sheet

Frequency:

$177.00

$10.00

$7.00

$2.00

$1.00

$-

$-

$1.00

$1.00

$1.00

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19) Histogram - Create a Histogram of the Bins and Frequency data by first creating a column Chart.

Descriptive Statistics Assignment.png

20) Format the historgram so there are no spaces between the bars. Histograms have not spaces and the graph does not become a Histogram until the spaces are removed.

Add a title to the Histogram

Add horizontal and Vertical Axes titles

21) Explain the difference between a histogram and a bar graph:

Histogram is used to continuous data and has no space in between the bars. On the other hand, bar chart is used for qualitative data which normally used to be separated with gaps between the bars

22) Make a pie chart of the frequency data with a title and Legend:

Descriptive Statistics Assignment1.png

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