Student Question: The director of admissions at Kinzua University in Nova Scotia estimated the distribution of student admissions for the fall semester on the basis of past experience.
We are going to solve this problem using Microsoft Excel. First, take all of the data in the table and add it to individual cells in the following format.
What is the expected number of admissions for the fall semester?
We can compute the expected fall admissions by dividing the weighed average probabilities by the the sum of the total probabilities. In excel, use the formula below to calculate the value. Just make sure to change the values to the corresponding cells in your spreadsheet!
=SUMPRODUCT(B8:B10,C8:C10) / SUM(C8:C10)
Once entered, this gives us an answer of 1308 expected fall admissions.
Compute the variance and the standard deviation of the number of admissions.
Using excel, the we can use the VAR and STDEV.S formulas to easily calculate the correct values.
For variance, use =VAR(B8:B10). The result should be 62533.33
For standard deviation, us =STDEV.S(B8:B10). The result should be 250.07.
- Student: Brandy Golden
- Textbook: Business Statistics
- Course: QNT 351