SYM-506 MODULE 7 HW

SYM-506 MODULE 7 HW - SYM 506 - Applied Business...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: SYM 506 - Applied Business Probability & Statistics Gerald McGill Grand Canyon University Module Seven - Problem Set Week 7 P10 - 16 A) Lifetime Lifetime One Variable Summary Brand 1 Batteries 2 Batteries Brand Mean Based on the two-sample confidence variable summary, due to their higher sample mean and higher than 0.5 mea Err:508 Err:508 LifetimeConf. Intervals (Paired-Sample) Brand 2 Batteries / Brand 1 Batteries - Lifetime / Err:508 Sample Size Sample Mean Err:508 Sample Std Dev Err:508 9 Confidence Level 5.0% Err:508 Degrees of Freedom #ADDIN? Lower Limit Upper Limit #ADDIN? B) LifetimeConf. Intervals (Paired-Sample) Brand 2 Batteries / Brand 1 Batteries - Lifetime / Err:508 Sample Size Sample Mean Err:508 Sample Std Dev Err:508 Based on the two-sample confidence variable summary, due to their higher sample mean and higher than 0.5 mea 9 Confidence Level 9.0% Err:508 Degrees of Freedom Lower Limit Upper Limit #ADDIN? #ADDIN? C) The way that our 95% and 99% confidence intervals can be related to one another is that we can see that in Part A range of -0.9 and 1.961. The second confidence interval states that we can be 99% certain that a random sample w simply based on the skewedness of the intervals, we see a stronger representation of Brand 1 batteries, which acc P10 - 22 A) LifetimeHypothesis Test (Paired-Sample) / Brand 2 Batteries - Lifetime / Brand 1 Batteries Err:508 Sample Size Sample Mean Err:508 Sample Std Dev Err:508 In this example, what we see is a model in which our null the alternative is that a random sample from battery B wil we can reasonably say that this would indeed occur. 0.5 Hypothesized Mean <.5 Alternative Hypothesis Err:508 Standard Error of Mean Err:508 Degrees of Freedom Err:508 Err:508 Reject Null Hypoth. at 10% Significance Don't Reject Null Hypoth. at 5% Significance Don't Reject Null Hypoth. at 1% Significance t-Test Statistic p-Value B) Based on the data feedback, there appears to be a stronger argument in favor of confidence interval testing to prov In favor of confidence interval testing is that in addition to establishing a confidence percentage, we also establish l with hypothesis testing, I have concluded that the use of an exact mean (in the case of battery brands 1 and 2, 0.53 to use the exact middle point of the two populations (0.5304), I received back either the absolute of 0 or 1, which in middle point of 0.5, which is artificial in nature but serves the purpose of this experiment. It should be noted that the P10 - 28A P10 - 29A P10 - 30A Female_Salary Male_Salary Sample SummariesSet #1 Data Set #1 Data The results of the data and the p-value indicate that there is nowhere near the le experience and performance levels will earn more than women in the same pos Err:508 Sample Size $84904.70 Sample Mean Err:508 $84587.12 $11027.83 $10889.16 Sample Std Dev Equal Unequal Conf. Intervals Variances ofVariances (Difference Means) 95.0% 95.0% Confidence Level $317.58 $317.58 Sample Mean Difference Err:508 Standard Error of Difference Err:508 Err:508 Degrees of Freedom Lower Limit -4667.02 Upper Limit 4031.86 Err:508 -4667.02 4031.86 Equality of Variances Test Ratio of Sample1.0256 Variances Err:508 p-Value P10 - 32 mple confidence variable summary, the buyer should purchase the brand 1 batteries, mple mean and higher than 0.5 mean gathered from our two-sample mean. mple confidence variable summary, the buyer still should purchase the brand 1 batteries, mple mean and higher than 0.5 mean gathered from our two-sample mean. her is that we can see that in Part A that we can be 95% certain that a random sample will fall within the 99% certain that a random sample will fall within the limits of -1.36372 and 2.424518. What this means is tion of Brand 1 batteries, which according to the mean will last longer than Brand 2 Batteries. we see is a model in which our null hypothesis is .5 (representative of both batteries being equal in terms of lifetime); a random sample from battery B will last less than the our two-sample mean. With a 90% confidence interval, ay that this would indeed occur. of confidence interval testing to prove and measure the difference of means between battery brands. ence percentage, we also establish lower and upper limits. Furthermore, based on repeated experimenting case of battery brands 1 and 2, 0.5304) will always produce inconclusive feedback. When I attempted ither the absolute of 0 or 1, which in itself does not reveal any information of value. Therefore, I was forced to use the periment. It should be noted that the use of 0.5 also lends itself to a much higher level of standard error. ate that there is nowhere near the level of support in order to draw up the conclusion that males with equal education, more than women in the same positions. This point is reemphasized by the sample means and 95% confidence variable. ...
View Full Document

This note was uploaded on 07/06/2011 for the course SYM 506 taught by Professor Professorwhite during the Spring '11 term at Grand Canyon.

Ask a homework question - tutors are online