Grantham University Confidence Interval Proportion of Schools Project

Project Assignment Part 1

For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadsheet. Download it here.

Using the ROI data set:

For each of the 2 majors consider the ‘School Type’ column. Assuming the requirements are met, construct a 90% confidence interval for the proportion of the schools that are ‘Private’. Be sure to interpret your results.

For each of the 2 majors construct a 95% confidence interval for the mean of the column ‘Annual % ROI’. Be sure to interpret your results.

Project Assignment Part 2

For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadsheet. Download it here.

Using the ROI data set:

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.

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.

Project Assignment Part 3

For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadsheet. Download it here.

Using the ROI data set:
For each of the two majors:

Draw the scatter diagram of Y = ‘Annual % ROI’ against X = ‘Cost’.

Obtain b0 and b1 of the regression equation defined as y ̂ = b0 + b1X and the coefficient of determination (r2) from the Excel regression output.

Draw the fitted regression line on the scatter diagram.

Calculate the estimated ‘Annual % ROI’ when the ‘Cost’ (X) is $160,000.

Test the hypothesis:

oH0: β1 = 0

oHa: β1 ≠ 0

Write a paragraph or more on any observations you make about the regression estimates, coefficient of determination, the plots, and the results of your hypothesis tests.

Project Assignment Part 4

Write a minimum 4 page report explaining the results from your analysis of the ROI of Business Majors and Engineering Majors. Use your results from each week’s assignment to make this report.

This report should include:

A detailed description of the data used in this analysis – specifically explain what the data in each column represents.

A detailed explanation of any information learned about:

School Type for each major;

The Cost for each major;

The 30 Year ROI for each major;

The Annual % ROI for each major.

Explanations should be supported with the results obtained from your work in previous weeks.

Finally, answer the following questions and support your answer with your results.

Does there appear to be a particular major that gives a better ROI? Why or Why not?

Given that we are using statistical inference to make our conclusions, is it guaranteed that the major you choose that gave a better ROI for this sample will always have a better ROI than the other major? Explain your reasoning

Prof. Angela

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