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case_STAT2-1

# case_STAT2-1 - BA 3400 Case Study Submission Cover Sheet...

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BA 3400 Case Study Submission Cover Sheet Case Study # 1 Chapter 9 and 10 Testing Hypotheses about Expected Salary and Student Loan Debt In supporting your answers, where appropriate: Follow the steps that we discussed in class to conduct a hypothesis test Include a complete Hypothesis Statement Include relevant tables from Excel (but not complete data set) Cite specific values (p-value, critical value and alpha) Date Submitted: 01/31/2011 Submitted by: Syed Haris

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BA 3400 Advance Statistical Methods Question #1 1a: Using the data provided in the Case #1 Data Set, show and discuss the descriptive statistics that describes the projected salaries that were reported in the Initial Student Survey Expected Salary Mean 62616.67 Standard Error 2314.374 Median 60000 Mode 50000 Standard Deviation 25352.7 Sample Variance 6.43E+08 Kurtosis 9.979226 Skewness 2.577807 Range 175000 Minimum 25000 Maximum 200000 Sum 7514000 Count 120 Confidence Level(95.0%) 4582.692 The mean excepted salary for the class was 62617 dollars based on the survey. The standard error was about 2314.3 and the standard deviation was about 23352.7. The median for all the expected salary was 60000, which means the middle value of the expected salary was 60,0000. Most of the students said that there expected salary after they graduate would be 50,000 dollars based on the mode. The skewness is positive, which means that the mean is larger than the median, as we see in this problem. 2
BA 3400 Advance Statistical Methods 1b: Hypothesis Test about a Population Mean (Sigma) Known Case Sample Size 120 Sample mean \$ 62,617 Population Standard Deviation 25351 Hypothesized Value 60000 Standard Error 2314.21 9 Test Statistic z 1.13069 1

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case_STAT2-1 - BA 3400 Case Study Submission Cover Sheet...

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