QNT 351: Learning Teams Problem Sets

Chapter 1

1. For each of the following, determine whether the group is a sample or a population.

a. The participants in a study of a new cholesterol drug.

b. The drivers who received a speeding ticket in Kansas City last month.

c. Those on welfare in Cook County (Chicago), Illinois.

d. The 30 stocks reported as a part of the Dow Jones Industrial Average.

1. For the following questions, would you collect information using a sample or a population?

Why?

a. Statistics 201 is a course taught at a university. Professor A. Verage has taught nearly 1,500 students in the course over the past 5 years. You would like to know the average grade for the course.

b. As part of a research project, you need to report the average profitability of the number one...