A dataset has the following 5 number summary:  (15, 42, 52, 56, 71).  The dataset is quite large (sample size 120).   Use the IQR method to check if any of the following values are outliers. Select the value(s) if any exist, that are outliers. Full credit can only be earned with appropriate work shown on scrap paper.  Submit your scrap paper to the dropbox within 15 minutes of finishing your test.

To estimate the proportion of Americans who support changing the drinking age from 21 to 18, a random sample of college students are asked “Would you support a measure to lower the drinking age from 21 to 18?” In the box below, type your answers to the following: Identify the intended population. Identify the sample. Is this biased?   If you answered yes to part 3, who might be overrepresented or underrepresented in the sample?

What analogy does the author use to describe the ‘parallel processing’ feature of stage-gate systems?

What organizational change is described as fundamental to the successful implementation of stage-gate systems?

The Technology Readiness Level (TRL) scale was primarily designed to measure the commercial profitability and market demand of a product.

At which gate is the project typically subjected to its first financial assessment, even if it is only a simple calculation like the payback period?

A balanced, stable state within the body is the definition for:

Which of the following are considered biased (non-random) sampling methods? Select all that apply.

In your own words, explain why understanding statistics is important in your field of study or future career. Provide at least one specific example of how statistics could be used to make better decisions in that field. (Minimum 4 sentences.)

A company reports that 73% of its customers are satisfied with their service. This 73% is based on a survey of 500 randomly selected customers out of 50{,}000 total. The value 73% is a: