Hypothesis Testing And Statistical Inference

Hypothesis Testing And Statistical Inference
Name:
Directions:
· In this project you will be using the Salary Data file that is found in Doc Sharing under the Instructor-Graded Projects:
· Steps for accessing the Salary Data file:
1. Open your Excel with PhStat2
2. Click File—Open
3. Select the Salary Data file
· Not all questions require the use of technology or the Salary Date file.
· You may insert your answers, including any charts, graphs, or output, on this document.
· 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
2. Education
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