QMB 2100 USF statistics Probability Questions

User Generated

purat12345

Mathematics

QMB 2100

University of South Florida

QMB

Description

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 November 10th.

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.

Project: Project for Module 3 Fall 2020.docx

Project Description/Printout Demonstration:

Project 3 Demo.mp4 Play media comment.

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 (Links to an external site.)


Unformatted Attachment Preview

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 November 10th at midnight. Please give specific interpretations as generic answers will not receive full credit. 1. Copy and paste a printout for a 92% confidence interval for the mean size/mileage 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: a. In the words of the problem, give a practical interpretation of this interval. b. Give a theoretical interpretation of the interval (i.e., explain what we mean when we say we are “92% confident.” c. Is the sample size for this problem considered large? Why or why not? 2. Copy and paste a 90% confidence interval for the mean price of all automobiles/homes/apartments from model/location 1 in the space provided. Answer the following questions regarding this printout: a. What assumptions are necessary for this confidence interval to be valid? Make sure you use the words of the problem when stating these assumptions. b. Pick the claim based on your data set: The mean price of all model 1 automobiles is $10,000. The mean price of all location 1 homes is $250,000. The mean rent of all location 1 apartments is $1,200. Based on the interval you created, make a statement regarding my claim. c. 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 3 in this analysis. Apartment Data Set: Test to determine if the average size differed from 750 square feet. Automobile Data Set: Test to determine if the average mileage differed from 30,000 miles. Home Data Set: Test to determine if the average size of the home differed from 1,800 square feet. Copy the results here and answer the following questions. a. State the null and alternative hypotheses that are being tested with the specified test. Ho: Ha: b. Identify the test statistic and p-value you will use in this test of hypothesis Test Statistic: ____________ P-value: ___________ c. What assumption(s) is/are necessary for this analysis to be valid? Make sure you state your answer in the words of the problem d. Make a conclusion for the test of hypothesis conducted above. You should choose alpha. 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 November 10th at midnight. Please give specific interpretations as generic answers will not receive full credit. 1. Copy and paste a printout for a 92% confidence interval for the mean size/mileage 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: a. In the words of the problem, give a practical interpretation of this interval. b. Give a theoretical interpretation of the interval (i.e., explain what we mean when we say we are “92% confident.” c. Is the sample size for this problem considered large? Why or why not? 2. Copy and paste a 90% confidence interval for the mean price of all automobiles/homes/apartments from model/location 1 in the space provided. Answer the following questions regarding this printout: a. What assumptions are necessary for this confidence interval to be valid? Make sure you use the words of the problem when stating these assumptions. b. Pick the claim based on your data set: The mean price of all model 1 automobiles is $10,000. The mean price of all location 1 homes is $250,000. The mean rent of all location 1 apartments is $1,200. Based on the interval you created, make a statement regarding my claim. c. 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 3 in this analysis. Apartment Data Set: Test to determine if the average size differed from 750 square feet. Automobile Data Set: Test to determine if the average mileage differed from 30,000 miles. Home Data Set: Test to determine if the average size of the home differed from 1,800 square feet. Copy the results here and answer the following questions. a. State the null and alternative hypotheses that are being tested with the specified test. Ho: Ha: b. Identify the test statistic and p-value you will use in this test of hypothesis Test Statistic: ____________ P-value: ___________ c. What assumption(s) is/are necessary for this analysis to be valid? Make sure you state your answer in the words of the problem d. Make a conclusion for the test of hypothesis conducted above. You should choose alpha.
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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 November 10th at midnight. Please
give specific interpretations as generic answers will not receive full credit.
1. Copy and paste a printout for a 92% confidence interval for the mean size/mileage 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:
a. In the words of the problem, give a
practical interpretation of this interval.

In repeated sampling, 92% confidence interval constructed would contain the value of the true
population mean of 1776.30

b. Give a theoretical interpretation of the int...


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