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ISEG ISM BUSINESS RESEARCH METHODS Final Assignment

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EXERCISE 1 : Data : μ = 37 σ = 4 n = 25 σ x = n σ = 25 4 = 0.8 So: n σ μ) x ( z = 0.8 37) (38.2 = 1.5 Referring to the Z table Z (1.5) = 0.4332 So: 0.5 - 0.4332 = 0.0668 corresponding to 6.68% Conclusion : There is 6.68% that the average age of group is greater than 38.2 years old. As 6.68% is very low, we can’t assume that the engineers in this group are g enerally much older than the average. EXERCISE 2 : Data : n = 50 x = 196.02 (data from excel) s = 617.28(data from excel) 90%
σ x = n s = 50 617.28 = 87.3097 So : n s z x 196.02 1.65 (87.3097) 196.02 + 144.0610 = \$ 340.10 196.02 - 144.0610 = \$ 51.96 Conclusion : The 90% confidence interval of the population mean for the incomes of western Pennsylvania credit union is between \$ 340.10 and \$ 51.96. EXERCISE 3 : Data : n = 8 (<30) x = 58.875 (data from excel) s = 5.083 (data from excel) d.f = n-1 = 7 σ x = n s = 8 5.083 = 1.796 So : n s t x 58.875 1.8946 (1.796) 58.875 + 3.4027 = 62.28 62 salaries 58.875 - 3.4027 = 55.47 55 salaries Conclusion : The 90% confidence interval of the mean for the salaries of substitute teachers in this region is between 62 and 55 salaries.

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