(Type your name here)BUS 304Homework Assignment #1Problem #1 Microsoft Equation 3.0 Exercise. -- skippedProblem #2: (Book exercise 1.54, Page 23)For each of the following variables, indicate what the level of data measurement is. a. number of years of education Ratio (0 year = no education)b. hair color Nominalc. type of business Nominal (Don’t impose priorities, hence not Ordinal)d. salaries of the CEOs of the Fortune 500 companies Ratio (0 salary = no income)e. temperature of furnaces in steel smelteries Interval (0 degree is still temperature, which does not mean no temperature.)f. job classification Nominal (Don’t impose priorities, hence not Ordinal)Problem #3: (Book exercise 1.55, Page 23)The company for which you work wishes to determine the percentage of Internet sales made by the companies with which it competes. You are assigned this task. You are deciding between the following two survey questions to use in your customer survey: Survey question 1: List the percentage of your sales obtained through the Internet;Survey question 2: The percentage of your sales obtained through the Internet is (a) 0 to 10, (2) 10 to 20, …, (10) 90 to 100. a. State the level of measurement the responses would be to each of these survey questions.Question (I) – Ration data. Numbers and “0” means no sales. Question (II) – Ordinal data. Ranges not numbers. b. Which of these two survey questions would allow you to calculate the average percentage of sales obtained through the Internet?Question (I) allows you to do mathematical analysis because it is ratio data.1Problem #4 Sampling Exercise with Random Number Generator. CSUSM is known as a commuter school. Students travel from a variety of places including Orange County and Riverside County. Students spent a lot of time and energy driving to school. The teacher of BUS304 wants to get an understanding on how far her students live. In this problem, you are asked to help the instructor estimate the students’ average travel distance based on different sampling techniques. A list of students enrolledin the class (assumed to be the population) is attached in the last page of this file.1) Simple Random Sampling: Random Seed: 14Random Numbers 1 25 9 11 21Students Names Ashty A. Allison R. Johnathan F. Nick H. Jorge O.Travel Distance 40 35 21 35 25Total Distance 156 (Add the five numbers from the above row)Average Distance 31.2 (Divide the total number above by the sample size.)2) Systematic Sampling: (Interval 30/5 = 6, one random number between 1~6, then go by equal interval 6.)Random Seed: 14Random Numbers 1 7 13 19 25Students Names Ashty A. Flavio F. Andrew K. Farzana M. Allison R.Travel Distance 40 45 20 35 35Total Distance 175 (Add the five numbers from the above row)Average Distance 35 (Divide the total number above by the sample size.)3) Stratified Sampling: (with two female and three male students) (Sort the data based on the gender. Number 1-10 are females. Number 11-30 are males. Generate 2 random number ranging 1-10, then generate 3 randomnumber ranging 11-30.)Random Seed: 14Random Numbers F#1: 1 F #2: 8 M:#1: 11 M #2: 27 M #3: 16Students Names Kristen B. Allison R. Ashty A. Raphielle P. Flavio F.Travel Distance 15 35 40 35 45Total Distance 170 (Add the five numbers from the above row)Average Distance 34 (Divide the total number above by the sample size.)4) Why the above three sampling techniques give you different estimates?The result of random sampling techniques are random and will not likely to be the same from one experiment to another. However, they should be considered as a close estimate to the population result.