statistic project

QMB 2100 Project For Module 3

 

DATA Set: Indicate one:       Automobiles     Homes      Apartments

 

Directions: Fill in the answer to the questions posed below. Attach the specified printouts where indicated and upload the project in Canvas on or before March 30^th at midnight. Please give specific interpretations as generic answers will not receive full credit.

 

1. Copy and paste a printout for a 98% confidence interval for the mean price of all automobiles/homes/apartments (you will show one confidence interval using a 75 cases) in the space provided below. Answer the following questions regarding this printout:

 

 

1. In the words of the problem, give a practical interpretation of this interval.

 

Give a theoretical interpretation of the interval (i.e., explain what we mean when we say we are “98% confident.”

 

 

 

 

 

 

 

 

 

 

 

1. Is the sample size for this problem considered large? Why or why not?

 

 

 

 

 

 

2. Copy and paste a 94% confidence interval for the mean size/mileage of all automobiles/homes/apartments from model/location 3 in the space provided. Answer the following questions regarding this printout:

 

• What assumptions are necessary for this confidence interval to be valid? Make sure you use the words of the problem when stating these assumption
• Pick the claim based on your data set:

The mean mileage of all model 3 automobiles is 60,000 miles.

The mean size of all location 3 homes is 2,000 square feet.

The mean size of all location 3 apartments is 1,000 square feet.

 

Based on the interval you created, make a statement regarding my claim.

Is the sample size for this problem considered large? Why or why not?

 

 

 

 

3. TESTS OF HYPOTHESIS: Use Statistix to create a printout to conduct the appropriate test for the data set you worked with: Use only model/location 1 in this analysis.

 

Apartment Data Set: Test to determine if the average rent differed from $800.

Automobile Data Set: Test to determine if the average price differed from $8,000.

Home Data Set: Test to determine if the average price of the homes differed from $200,000.

 

Copy the results here and answer the following questions.

 

 

 

 

 

 

 

 

 

 

 

 

1. State the null and alternative hypotheses that are being tested with the specified test.

 

H_o:

 

H_a:

 

 

1. Identify the test statistic and p-value you will use in this test of hypothesis

 

Test Statistic:  ____________                    P-value:  ___________

 

1. What assumption(s) is/are necessary for this analysis to be valid? Make sure you state your answer in the words of the problem

 

 

 

 

 

 

 

 

 

1. Make a conclusion for the test of hypothesis conducted above. You should choose alpha.

 

 

 

 

Before attempting the project, make sure you have watched the Project Introduction video and entered your project data into either Excel or Statistix. Using Statistix, you are required to generate printouts that you will embed into the Project Word document that is posted below. You will then answer the questions that I ask in the project, save the document with your completed work, and submit it to me in Canvas.

Here are the steps you will need to complete:

1. Download the project.
2. Watch the Project Description/Printout Demonstration Video to help you to generate the required printouts.
3. Embed the printouts and answer the project questions and submit it in Canvas by midnight on March 30th.

To help, I have created a video for both showing you how to Submit Projects in Canvas and also Using Statistix in the Application Gateway (which is posted elsewhere). Feel free to join me during the Blackboard Collaborate Ultra sessions to ask questions about the project! I will be doing Statistix demonstrations as well as sharing printouts from my data set and helping you answer project questions for my printouts.

https://youtu.be/-UPeOA8uKXU (Links to an external site.)

I give some hints on the type of answers I am looking for and do a computer demonstration showing you how to generate the required printouts.

How to Submit Projects in Canvas:

https://youtu.be/ZWhmJbODE8E (Links to an external site.)

Using Statistix in the Application Gateway Video: https://youtu.be/uqDERDrvAIM