Unit Assignment #1 Instructions Due no later than 11:00 p.m. on Sunday of Unit 2Worth 3% of final gradeGraded out of 100 marks Note: For time management purposes, students are strongly advised to submit their assignments by the due date above. Late penalties, however, will not be applied until after 8:00 A.M the following day. Late Submission Policy This assignment is subject to the Late Submission penalty policy, namely 5% per day for three days.This page will close and will not allow further submissions after this Late Submission period has expired.In the event of an emergency preventing you from submitting within this time frame, special permission must be obtained from your instructor. Documentation substantiating emergency is required. In such a circumstance, if the extension is granted, the professor will reopen the submission function for you on an individual basis.Please do not email your submissions to your professor, either before or after the due date; all coursework should be submitted through the online course (Moodle). Objectives To understand and solidify introductory statistics course concepts and techniques Instructions Students are to complete the exercises in Word (or some other compatible word processor) and submit. Unit Assignment #1 Questions Due no later than 11:00 p.m. on Sunday of Unit 2Worth 3% of final gradeGraded out of 100 marks As the Manager of Customer service at a Bank, you were assigned the job of revamping the Customer Service function at the branches. To get the project started, a research study at four branches was conducted to assess the effectiveness of a recent change in the customer account management process. Details of the study are as follows: A group of customers from each of the four branches were selected randomly and invited to participate in the study.Personal deposit and loan balances from these customers were extracted from the Bank’s databases before the change took place.Personal deposit and loan balances from these customers were also extracted from the Bank’s two months after the changeA simple survey was conducted to ask the customers involved about their experiences with the change. A few variables from the survey were recorded and appended to the extracted deposit and loan file. The attached Excel workbook, BUSI1013 Bank Dataset.xlsx, contains the data collected from research study. Answer the following questions using this data set. What would the population of interest be for this study? Which method of sampling was used in this study? How big is the sample size? How many variables are in the data set? Which of the variables are categorical? Which of the variables are numerical? 2. Booster Juice needs to combine three different juices to make a smoothie, and one cup of smoothie needs one pound of three different juices combined. Assume one pound of apple juice costs $1, one pound of orange juice costs $2, and one pound of peach juice costs $4. a. What would be the price of the smoothie if Booster Juice makes the smoothie by combining 30% of apple juice, 20% orange juice and 50% of the peach juice. b. What would be the price of the smoothie if the Booster Juice makes the smoothie by using all three equally. 3. Use a frequency distribution table to numerically summarize the variable Branch in the BUSI1013 Bank Dataset.xlsx data set. Based on the table, use a pie chart to summarize this variable graphically. Frequency Distribution Table BranchFrequency 4. Data from the Chase branch is extracted from the data set BUSI Bank Dataset.xlsx and is stored in BUSI1013 Chase Dataset.xlsx. Use this file to answer the following: Construct a histogram for the variable Income. Construct a stem-and-leaf display for the variable age. Please be sure to include a leaf unit. What does the stem-and-leaf display tell us about the shape of the distribution of age? 5. Use the data in BUSI1013 Chase Dataset.xlsx to answer these questions: Income What is the sample mean of the variable Income? What is the sample median the variable Income? Find the range of Income. Find the sample standard deviation of Income. Compute the first and third quartile of Income What is the IQR for Income? Give the five-number summary for Income. Use the IQR rule to determine whether there are outliers for Income. Instructor notes: For Week 1, you will not need to use any computing tools to complete the portions of Assignment 1 that cover this week’s materials. On the other hand, it is a good time to set up what you need for subsequent weeks. To perform the computations required for this course, my recommendation is to use Excel as well as Its Data Analysis Add-in. The Data Analysis add-in is part of Excel for its Windows version (no luck for the Mac users!!) and comes free of charge but requires installation before use. This week is the ideal time for installing this add-in as follows: 1. Open Excel and Click File 2. Click Options and then Add-Ins from the menu on the left. 3. Click Go on the bottom of the screen 4. Check the box for the Analysis Toolpak add-in and you are done. 5. To ensure that the add-in is installed properly, Click Data on the Excel menu and you should see the Data Analysis option Happy computing! The two Excel files required to complete Assignment 1 are attached here in case you have problems downloading them from the assignment file. Let me know if you have further questions. Albert BUSI1013 Bank Dataset.xlsx BUSI1013-Chase Dataset.xlsx Software You need a calculator for this course. In addition, you should also have access to a statistical software package such as Excel’s Data Analysis Add-In that I recommend. The following is a brief description of how to install this Add-in: 1. Go to File in the menu 2. Choose Options 3. Choose Add-in 4. Find the Go button and click it 5. Choose the Analysis Toolpak (not the Analysis Toolpak – DBA) This is the process and nothing happens after you have done the above. To find out whether the process is successful, go to Data on the menu. If you find Data Analysis in one of the submenu, then you are successful. Every week, I will write about what you will need to pay attention in the use of Excel or Excel Add-In to make the completion of the assignments easier. I will also present links to YouTube videos that I produced specifically for this course to guide you through computational aspects of the week’s materials. Be sure to go over them before you start working on the assignments. Assignments Answers to the assignment question should be in short-answer format. Partial marks could be rewarded even if the answer to a question is wrong. Therefore, providing only an answer to a question may be sufficient in many cases but if you wish to receive at least a partial mark, a brief explanation would be desirable. Accuracy of calculations is important. Please keep at least three significant digits in all intermediate steps and 2 significant digits for final answers. Please submit all work in MS Word or some other compatible word processor format. You will receive a zero mark otherwise. The name of the assignment file should either include your last name or your initials.
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