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MA 215 wk 6 project

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Derrion Amos
Business Statistics
November 10, 2017
WEEK 6 PROJECT
Using the ROI data set:
1. For each of the 2 majors test the hypothesis at the 5% significance level:
The mean ‘Cost’ for a college is $160,000. Be sure to interpret your results.
Business major:
COST
Test
Mean
188632
160000
Variance
2550596343
0
Observations
20
20
Hypothesized Mean
Difference
0
df
19
T Stat
2.535396094
P(T<=t) one-tail
0.01008694
T Critical one-tail
1.729132812
P(T<=t) two-tail
0.020173879
T Critical two-tail
2.093024054
Since P(T<=t) two-tail = 0.020173879 < 0.05, so we should reject the null hypothesis, that is to
say, the mean ‘Cost’ for Business major is not $160,000.
Engineering major:
COST
Test
Mean
164680
160000
Variance
4406984411
0
Observations
20
20
Hypothesized Mean
Difference
0
df
19
T Stat
0.31527541
P(T<=t) one-tail
0.37799454
T Critical one-tail
1.72913281

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P(T<=t) two-tail
0.75598907
T Critical two-tail
2.09302405
Since P(T<=t) two-tail = 0.75598907>0.05, so we should can not reject the null hypothesis, that
is to say, the mean ‘Cost’ for Engineering major is $160,000.
2. For Business versus Engineering majors conduct a two sample test of the hypothesis at
the 10% significance level (assume the variances are not equal):
The average ’30-Year ROI’ for Business majors is less than for Engineering Majors.
Be sure to interpret your results.
t-Test: Two-Sample
Assuming Unequal
Variances
30 Year ROI Business
30 Year ROI Engineering
Mean
1477800
1838000
Variance
17673957895
32327578947
Observations
20
20
Hypothesized Mean
Difference
0
df
35
t Stat
-7.203889288
P(T<=t) one-tail
1.04423E-08
t Critical one-tail
1.306211802
P(T<=t) two-tail
2.08847E-08
t Critical two-tail
1.689572458

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Derrion Amos Business Statistics November 10, 2017 WEEK 6 PROJECT Using the ROI data set: 1. For each of the 2 majors test the hypothesis at the 5% significance level: The mean ‘Cost’ for a college is $160,000. Be sure to interpret your results. Business major: COST 188632 2550596343 20 0 Mean Variance Observations Hypothesized Mean Difference df T Stat P(T ...
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