Management Question

User Generated

nxva

Business Finance

College of Southern Maryland

Description

This assignment is intended to test your knowledge of how to appropriately compare two means in Excel using a data file with student debt amounts (Case Study 3 - Data File - Fall 2021.xlsx Download Case Study 3 - Data File - Fall 2021.xlsx). The data file has 50 randomly selected student debt amounts from 2018 and 50 randomly selected student debt amounts from 2013. A university representative has asked you whether the sample data provide enough evidence to believe there is a difference between the debt amounts in the two years.

After watching the accompanying videos, read the instructions and fully address all questions (Case Study 3 - Fall 2021.pdf Download Case Study 3 - Fall 2021.pdf). Run all required analyses and submit them along with the data file in a single Excel workbook that shows all your output and provide responses to all of the questions in a Word document.

The homework is due on Sunday by 11:59pm of Week 5.

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Debt in 2018 (dollars) 3.287 4.031 5.028 4.939 4.555 2.792 2.658 2.756 3.422 4.431 4.034 4.310 4.782 3.363 2.858 3.665 4.453 4.778 3.492 3.380 4.996 2.684 3.067 4.236 4.513 4.050 3.955 2.909 3.592 2.984 4.063 2.690 4.735 4.398 2.782 4.256 4.631 4.550 3.561 4.261 4.771 3.780 4.988 2.798 3.039 4.445 Debt in 2013 (dollars) 3.840 2.575 4.720 3.178 4.972 2.827 4.964 3.033 3.843 4.972 3.974 3.134 3.120 3.793 3.909 3.468 2.536 3.795 4.662 2.833 4.097 3.188 2.695 3.691 3.499 2.914 4.102 3.934 4.058 2.659 4.844 3.156 3.332 4.793 3.831 3.613 4.882 3.592 4.144 4.138 4.956 2.730 3.828 2.888 4.803 4.612 Test the Hypotheses Below Null Hypothesis: Mean Student Debt in 2018 is equal to Mean Alternative Hypothesis: Mean Student Debt in 2018 is not equ Alpha Level = 0.05 4.988 3.927 3.958 5.093 3.798 4.269 2.646 4.837 dent Debt in 2018 is not equal to Mean Student Debt in 2013 MBA 6350 Week 5 Case Study - Two-sample t-test in Excel (Case Study #3) Case Study #3 is intended to test your knowledge of how to appropriately compare two means. The data file has 50 randomly selected student debt amounts from 2018 and 50 randomly selected student debt amounts from 2013. The data fields included are as follows:  Debt in 2018 (dollars)  Debt in 2013 (dollars) A university representative wants to know whether the sample data provide enough evidence to believe there is a difference between the debt amounts in the two years. The null and alternative hypotheses are shown below.  Null Hypothesis: Mean Student Debt in 2018 is equal to Mean Student Debt in 2013  Alternative Hypothesis: Mean Student Debt in 2018 is not equal to Mean Student Debt in 2013 Complete the following tasks: 1. Run an F-test for two sample variances using an alpha level of 0.05 and answer the following questions: a. Which of the two years has the higher mean? What are the values? b. Which of the two years has the higher variance? What are the values? c. Based on the statistical output, would you conclude that variances are equal or not equal? Provide an appropriate/authoritative explanation leveraging the statistical output. 2. Run an appropriate t-test (assuming either equal or unequal variances based on your conclusion in 1c above) using an alpha level of 0.05 and answer the following questions: a. Is this a one-tailed or two-tailed test? Provide an appropriate/authoritative explanation that fully explains the choice. b. Based on the statistical output, would you conclude that means are equal or not equal? Provide an appropriate/authoritative explanation leveraging the statistical output. c. Using everyday language that could be understood by parents and students, what does the analysis say about student debt in 2018 versus 2013? Provide an appropriate/authoritative explanation leveraging the statistical output (e.g., use confidence level, rationale, etc.) Make sure that you run all the required analyses using the Data Analysis Toolpak in Excel and SUBMIT the Data Analysis Output along with the Data file in a Single Excel workbook that shows all your output. You should also submit a separate Word document that fully, and professionally, responds to each question. Case Study #3 is due on Sunday by 11:59pm of Week 5.
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Explanation & Answer

Please view explanation and answer below.

Debt in 2018 (dollars)
3,287
4,031
5,028
4,939
4,555
2,792
2,658
2,756
3,422
4,431
4,034
4,310
4,782
3,363
2,858
3,665
4,453
4,778
...


Anonymous
I was struggling with this subject, and this helped me a ton!

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