BUS 304 Homework Assignment #1, Due date: July 14, 2008Submitted by: (sign)Submission date: (sign)Problem #1 Microsoft Equation 3.0 Exercise. Microsoft Equation 3.0 is an add-in in Microsoft Office Suite. It helps edit equations and special symbols to be displayed in Microsoft Word and Powerpoint. It is useful for you to generate a professional business report including data analysis. In Bus 304 class, all the equations/formula that to be displayed in your homework assignments and mini projects should be edited using this tool. (From Microsoft Word menu, find “Insert” “Object…”, choose “Microsoft Equation 3.0” from the popup window list.)In this problem, you are asked to generate the two equations in the green areas in the framed space given below.Equation 1: Type the above formula in the frame below: Sample mean: Equation 21Type the above formula in the frame below: Population Standard Deviation: Problem #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 educationb. hair colorc. types of businessd. salaries of the CEOs of the Fortune 500 companiese. temperature of furnaces in steel smelteriesf. job classificationProblem #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.b. Which of these two survey questions would allow you to calculate the average percentage of sales obtained through the Internet?2Problem #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 NumbersStudents NamesTravel DistanceTotal Distance (Add the five numbers from the above row)Average Distance (Divide the total number above by the sample size.)2) Systematic Sampling: Random Seed: 14Random NumbersStudents NamesTravel DistanceTotal Distance (Add the five numbers from the above row)Average Distance (Divide the total number above by the sample size.)3) Stratified Sampling: (with two female and three male students) Random Seed: 14Random Numbers F#1: F #2: M:#1: M #2: M #3:Students NamesTravel DistanceTotal Distance (Add the five numbers from the above row)Average Distance (Divide the total number above by the sample size.)4) Why the above three sampling techniques give you different estimates? 3Name Gender # of Miles Travel from Home to School (One-way)Ashty A. M 40Stephano B. M 11Cody B. M 15Kristen B. F 15Frantisek D. M 4Walter E. M 14Flavio F. M 45Heather F. F 5Jonathan F. M 21Jessica G. F 15Nick H. M 35Christopher J. M 15Andrew K. M 20Matthew K. M 6.9Jacob K. M 0.5Michael L. M 15Camille L. F 5Sheryl L. F 31Farzana M. F 35Peter N. M 7Jorge O. M 25Gregory O. M 15Raphielle P. M 35Rachel Q. F 25Allison R. F 35Brooke S. F 17July S. F 5Taylor S. M 30Joey S. M 34Ryan T. M