# BUS 503

Posts related to my Excelsior BUS 503 Quantitative Methods course.

## Setting up Hypothesis Tests – Three Useful Tables

Step 1: Words to Symbols Table Read the problem carefully, looking for key phrases and words which will identify the claim. Look for those key phrases in the table below to determine if the claim is the null or alternative hypotheses. It can be either. Because the null and alternative must be complements, finding one will …

## Minimum Sample Size for Population Mean given c, sigma, E

Enter your data in the blue cells and the minimum sample size will be in the yellow cell at the bottom. Note: the standard deviation and E must be in the same units (e.g. inches, feet, etc). Download a copy of the workbook Min Sample Size for Mean CI V1.00

## Minimum Sample Size Calculator for Population Proportion Confidence Interval

If you are conducting a survey, you will need to decide on the number of people you need to sample. That, of course, depends upon how confident you want to be and how accurately you want to predict the population proportion based on your survey results. If you want to be 95% confident, that is …

## Find Confidence Level, C, for Population Proportion Confidence Interval

Problem 6.3.27 gives you some summary data about a survey and asks you to find the confidence interval for the population proportion if the margin of error, E, is also given. Although you can do this problem using StatCrunch, I find it to be one of those problems where Excel is quicker and easier, particularly …

## Basic Probabilities Excel Calculator

Students often are given questions that require them to find basic and conditional probabilities for a 2×2 matrix such as this problem: You can work this problem using StatCrunch using the Stat>Tables>Contingency path, but some students get confused by the cluttered output. I have developed an Excel worksheet that makes this much easier for a …

## Playing Card Probability

Question: A standard deck of cards contains 52 cards. One card is selected from the deck. (a)compute the probability of randomly selecting a spade or club (b)Compute the probability of randomly selecting a spade or club or heart. (c)compute the probability of randomly selecting a jack or heart. I can’t seem to know what formula to …