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Tutorial Questions Solution for Hi6007 Statistics Holmes Institute

Recently in view of Covid 19 issue being faced worldwide, Holmes Institute has also undergone major change in terms of the curriculum pattern. In order to reduce the spread of disease online classes are being conducted for all subjects. In these online classes students are being provided with detailed concepts and knowledge pertaining to chosen field. Now teachers have also started different pattern wherein class tutorials are provided every week to students which they have to solve in order to get assessment marks. This method ensure students are continuously focusing on their curriculum and remain involved in order to accomplish their studies. Punjab Assignment help has extended special support for students in order to solve these tutorial questions with minimum cost being the leading assignment help expert for Holmes Assignments!!

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HI6007 Statistics Tutorial Questions
HI6007 Statistics Tutorial Questions

HI6007 Statistics for Business Decisions Week 2 Tutorial questions

Based on the online classes of week 1 for the students of Holmes Institute tutor has provided tutorial questions for week 2 which students must solve so as to accomplish the course. Week 2 tutorial question for HI6007 Statistics for business decision subject is given as under:

HI6007 Statistics for Business Decisions

Tutorial 1 – Week 2
Question 1:

In your own words, differentiate the following statistical terminologies with some examples.

  1. Population Parameter and Sample Statistic
  2. Descriptive Statistics and Inferential Statistics
  3. Nominal Scale and Ordinal Scale
  4. Primary Data Source and Secondary Data Source
Question 2:

The Bureau of Transportation Statistics Omnibus Household Survey is conducted annually and serves as an information source for the U.S. Department of Transportation. In one part of the survey the person being interviewed was asked to respond to the following statement: “Drivers of motor vehicles should be allowed to talk on a hand-held cell phone while driving.” Possible responses were strongly agree, somewhat agree, somewhat disagree, and strongly disagree. Forty-four respondents said that they strongly agree with this statement, 130 said that they somewhat agree, 165 said they somewhat disagree, and 741 said they strongly disagree with this statement (Bureau of Transportation website, August 2010).

  1. Do the responses for this statement provide categorical or quantitative data?
  2. Would it make more sense to use averages or percentages as a summary of the responses for this statement?
  3. What percentage of respondents strongly agrees with allowing drivers of motor vehicles to talk on a hand-held cell phone while driving?
  4. Do the results indicate general support for or against allowing drivers of motor vehicles to talk on a hand-held cell phone while driving?
Question 3

The table below shows a data set containing information for 25 of the shadow stocks tracked by the American Association of Individual Investors. Shadow stocks are common stocks of smaller companies that are not closely followed by Wall Street analysts.

CompanyExchangeTicker SymbolMarket Cap ($ millions)Price/ Earnings RatioGross Profit Margin (%)
DeWolfe CompaniesAMEXDWL36.48.436.7
North Coast EnergyOTCNCEB52.56.259.3
Hansen Natural Corp.OTCHANS41.114.644.8
MarineMax, Inc.NYSEHZO111.57.223.8
Nanometrics IncorporatedOTCNANO228.638.053.3
TeamStaff, Inc.OTCTSTF92.133.54.1
Environmental TectonicsAMEXETC51.135.835.9
Measurement SpecialtiesAMEXMSS101.826.837.6
SEMCO Energy, Inc.NYSESEN193.418.723.6
Party City CorporationOTCPCTY97.215.936.4
Embrex, Inc.OTCEMBX136.518.959.5
Tech/Ops Sevcon, Inc.AMEXTO23.220.735.7
Qiao Xing Universal Tele.OTCXING64.322.130.8
Energy West IncorporatedOTCEWST29.19.716.3
Barnwell Industries, Inc.AMEXBRN27.37.473.4
Innodata CorporationOTCINOD66.111.029.6
Medical Action IndustriesOTCMDCI137.126.930.6
Instrumentarium Corp.OTCINMRY240.93.652.1
Petroleum DevelopmentOTCPETD95.96.119.4
Drexler Technology Corp.OTCDRXR233.645.653.6
Gerber Childrenswear Inc.NYSEGCW126.97.925.8
Gaiam, Inc.OTCGAIA295.568.260.7
Artesian Resources Corp.OTCARTNA62.820.545.5
York Water CompanyOTCYORW92.222.974.2
  1. How many variables are in the data set?
  2. Which of the variables are categorical and which are quantitative?
  3. For the Exchange variable, show the frequency and the percent frequency for AMEx. Construct a bar graph for the Exchange variable.
  4. Show the frequency distribution for the gross Profit Margin using the five intervals: 0–14.9, 15–29.9, 30–44.9, 45–59.9, and 60–74.9. Construct a histogram.

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