Hypothesis Testing and Statistical Inference
Â· In this project you will be using the Salary Data file that is found in Doc Sharing under the Instructor-Graded Projects:
Â· Steps for accessing the Salary Data file:
1. Open your Excel with PhStat2
2. Click Fileâ€”Open
3. Select the Salary Data file
Â· Not all questions require the use of technology or the Salary Date file.
Â· You may insert your answers, including any charts, graphs, or output, on this document.
Â· Be sure to put your name on this document and save it to your computer.
1. For each the following variables from the Salary Data Set provide the measures of location and measures of dispersion for the following variables:
1. Previous Experience
3. Which variable has the greatest relative variability?
2. You are the manager of a high-end ladies fashion store. For the past few months you have been gathering data and found that 45% of persons entering the store actually make a purchase. Assume these data follow a Binomial Distribution and use Excel to calculate the following binomial probabilities:
1. If 15 people enter the store, what is the probability that 9 of them will make a purchase?
2. What is the probability that at least 6 of the 15 people will make a purchase?
3. Using the Salary Data Set what is the probability of randomly selecting one individual (male or female) with a current annual salary of over $55,000?
4. The time required to complete a project is normally distributed with a mean of 80 weeks and a standard deviation of 5 weeks. The construction company must pay a penalty if the project is not finished by the due date of the contract. If a construction company bidding on this contract wishes to be 90 percent sure of finishing by the due date, use the NORMINV Excel Function to determine what due date (project week #) should be negotiated?
5. In a state lottery participants select 6 numbers between 1 and 49. At the end of the week, the state lottery commission randomly draws 6 numbers between 1 and 49. How many different possible winning number combinations could be drawn by the lottery commission?
6. From the Salary Data Set and assuming that the salary data is a random sample from the population of salaries from the multi-national company use the 90% confidence level in PHStat to estimate the mean current salary for company executives.
1. The 90% confidence level is:
2. If you were to change the confidence level to 95%, what would happen to the confidence interval?
7. Using the Salary Data Set,
1. Create a scatter plot to show this relationship between education and beginning salary
2. Determine the correlation between the variables
8. Explain why rejecting the null hypothesis does not make the alternative hypothesis true.
9. What is the purpose of statistical inference?
10. What is the difference between sampling error and the standard error of the mean?
11. You are a consultant working for Kaplan Consulting. The Director of Human Resources for a multi-national company has requested help in investigating a pay discrimination complaint brought by a female executive. The company provided the data in the Salary Data Set. Use PHStat and the appropriate t test, to investigate the claim of pay discrimination in the current salaries. Be sure to include:
1. Your null and alternative hypotheses;
2. The level of alpha you elect to use and why in terms of Type I or Type II error;
3. Show the output from the analysis;
4. Your interpretation of the results; and
5. A written statement to the director of Human Resources as to whether they should be concerned about the complaint.
Study Acers provides students with tutoring and help them save time, and excel in their courses. Students LOVE us!No matter what kind of essay paper you need, it is simple and secure to hire an essay writer for a price you can afford at StudyAcers. Save more time for yourself. Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more