A Business Statistic
Extra credit for Intro to Business Statistics:The extra credit will be for a total of two extra points on your lowest exam grade. There will be 5 questions each representing 1.25 of the 5 points, each will have sub questions you must answer. I will also provide a link to the website where I retrieved the data from so you can have more context of the data. I will provide a brief summery in this work document. If you need help, please contact me. This Credit is based on completion of the problems. I encourage students to work together, but all students must submit their own completed extra credit.You will need to submit your extra credit assignment through blackboard by the assigned due date. 1. Question:a. Link to data: http://tse.export.gov/tse/MapDisplay.aspxb. Follow the following steps:i. Click State and export dataii. Then click Global Patterns of States Exportsiii. Under the state/U.S. Region tab select New Yorkiv. In the table display section: select 2000 and 2016v. At the top of the page you will see a tab that says Download center1. Click that and it will give you an option to download data as a CSV file: 2. Do thatc. Please use the data on the trade flows from New York to the world:i. Please download the excel file: 1. The data represents the total number of exports New York sells to the rest of the world. 2. It is also broken down by countryii. Graph the total trade between New York and the world since 2000 to 20161. How has it changed over time?iii. Show the trade relationship with 3 separate countries on the same graph.1. Pick any 3 countries and comment on the relationshipiv. In the year 2000, What countries did New York trade with most? Display this data using a method discussed in chapter 2.1. Please repeat this with the year 20162. How have trade flows changed over the course of 16 years. 2. This part of the extra credit relates to Binomial distribution:a. Let N=20b. P=.20i. Make a table of the probability of each outcome in excelii. Graph this relationshipc. Make a second graph with the probability P=.40i. How does this change the probability of the outcomes?ii. Graph this relationship on the same graph as the one aboveiii. Comment on the differences in the graphsd. Please remake the graph one more time with N=40i. Does this graph converge to a Normal Distribution?3. Using excel please generate 50 random outcomes in excel using the built-in random distribution variable function.a. Do this in 20 columns in exceli. Note generate 50 random numbers in each column of the 20 columnsb. Take the average of each columnc. Make a histogram of the averagesd. Repeat the above for 40 Columnse. How does the histogram change as we increase the number of averages, we use to make the histogram?i. Please make a separate histogram for each number of columns (20,40,60)Note: Note much the excel can be done using the Microsoft excel help website. Pease don’t hesitate to ask me for help and work together4. ShopRite is thinking of opening a new store in the Bronx. They do not know how many people they should expect to go to the store any day. Please answer the following questions regarding the questions below. Assume the data distribution is normal and the standard deviation for the data is 25 people. The average number of customers a day is200. a. How many customers should the company plan for to be 90 percent certain that they will have enough room foreveryone. b. What is the 80th percentile of the number of customers who will come to the countryc. What is the probability that a between 150 to 260 customers showing up at the store. d. What is the probability ofmore the 260 customers showing up.
