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Attached is an excel assignment on statistics, probability and business a template has been provided for the 2 separate question Question to be

This question was answered on Jul 21, 2016. View the Answer

Attached is an excel assignment on statistics, probability and business

a template has been provided for the 2 separate question

Question to be answered are ques 2 and 3 from the pdf

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Chapter 4 Problem 2 Name: The chief cashier of a bank must manage the cash holding so as to gain interest by inves±ng excess cash where Week Day Clearing Balance possible, but at the same ±me keep suFcient cash on hand to meet the bank's needs. A major issue for the 1 Monday $ 21,697,208 chief cashier is the uncertainty that results from the ²ederal Reserve Board's (²ed) clearing balance. The clearing 1 Tuesday $ (32,977,193) balance is the di³erence between the dollar value of checks wri´en by the bank's customers and cleared through 1 Wednesday $ 60,311,999 the ²ed, and the dollar value or checks received by wri´en on other banks and cleared through the ²ed. 1 Thursday $ 29,981,227 1 Friday $ 28,030,404 The data to the leµ represent the last eight weeks of clearing balances. 2 Monday $ (8,448,464) 2 Tuesday $ 53,479,593 1. Provide Point and Interval Es±mates for the mean daily Clearing Balance. See the example on page 111. 2 Wednesday $ 38,561,233 Point Es±mate 2 Thursday $ (10,243,791) Interval Es±mate, Lower 2 Friday $ 30,056,844 Interval Es±mate, Upper 3 Monday $ 117,896,711 What does this tell you about the popula±on mean daily Clearing Balance? 3 Tuesday $ (1,672,896) 3 Wednesday $ 24,650,044 3 Thursday $ 61,116,423 3 Friday $ (4,794,679) 4 Monday $ 24,066,627 4 Tuesday $ 37,844,391 2. Create a line chart of the Daily Clearing Balances. Delete the legend. Describe this line chart with respect to the Daily Clearing Balance. 4 Wednesday $ 81,001,561 Add a chart ±tle and axis labels. Change the X-axis values to the Days. 4 Thursday $ 57,425,429 4 Friday $ 28,157,292 5 Monday $ 10,019,384 Place Line chart here. Resize it if necessary. 5 Tuesday $ 21,886,686 5 Wednesday $ 27,584,465 5 Thursday $ 8,059,567 5 Friday $ (3,648,650) 6 Monday $ 73,625,609 6 Tuesday $ 34,537,810 6 Wednesday $ 5,757,982 6 Thursday $ 40,873,515 6 Friday $ 59,296,515 7 Monday $ 29,387,165 7 Tuesday $ (31,816,724) 7 Wednesday $ 3,894,674 4. Create a bar chart for the Average Clearing Balance by Day. Delete the legend. 7 Thursday $ 5,027,402 Add a chart ±tle and axis labels. Change the "Day" axis values to the Days of the week. 7 Friday $ 21,449,620 8 Monday $ 31,467,912 8 Tuesday $ 31,238,163 8 Wednesday $ 23,307,164 3. Use the AVERAGEI²() func±on to ¶nd the average Clearing Balance for each day of the week. Place Bar Chart Here. Resize it if necessary. 8 Thursday $ 93,434,414 Day 8 Friday $ 65,555,653 Monday Mean Tuesday Standard Devia±on Wednesday n Thursday ²riday Describe what this bar chart is showing with respect to the average daily clearing balance. For a good overview of crea±ng and forma²ng charts in Excel, go to h³ps://www.youtube.com/watch?v=LRge01sFy7Y Average Clearing Balance For informa±on on using the AVERAGEIF() func±on, go to h³ps://www.youtube.com/watch?v=JEepCWMebk8
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5. Use the AVERAGEIF() funcTon to ±nd the average Clearing Balance for each week. 6. Create a bar chart for the Average Clearing Balance by Week. Delete the legend. Week Add a chart Ttle and axis labels. 1 2 3 4 Place Bar Chart Here. Resize it if necessary. 5 6 7 8 7. Create a pie chart for the average daily Clearing Balance and one for the average weekly Clearing Balance. Give each chart a Ttle. Delete the legend and add data labels (percent and series name only) to the slices. Describe what this bar chart is showing with respect to the average weekly clearing balance. Put Daily Clearing Pie Chart here Put Weekly Clearing Pie Chart here Based on all the graphs you have just made, which is easier to interpret - the bar chart or the pie chart? JusTfy your answer below. Average Clearing Balance
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Chapter 4 Problem 3 Name: Is there any staTsTcal evidence that the package color leads to higher sales? **Sales are in $thousands Container Color Week Blue White 1 8.4 9.2 2 4.9 5.3 3 3.3 3.1 4 6.9 7.6 5 9.3 9.2 6 8.7 9.2 7 5.3 5.7 8 3.4 4.4 9 6.9 7.8 10 7.9 8.5 1. State your hypotheses. You may state this in words, but be sure to specify which populaTon parameter you are tesTng (i.e., mean, variance, etc.). 2. Create a line chart showing the sales for both the Blue and White colors. Give the chart a Ttle and axis lables. Keep the legend but make sure it has the color names Based on these line charts, does it appear to be a diFerence in sales for the two colors? 3. Using Data Analysis, perform an appropriate t-test to test for the diFerence between the means of the two groups. Assume that the variances are unequal and sigma is not known. Use a signi±cance level (alpha) of 0.05. 4. Based on the results of the t-test and a signi±cance level (alpha) of 0.05, What was the p-value from the t-test? Get this value from the Data Analysis t-test output. Based on the p-value and alpha, what is your decision and why? In other words, do you Reject or ²ail to Reject H0? Why or Why not? Based on your decision above, what do you conclude about the two colors? Based on your decision above, what would you recommend? H 0 : H 1 :
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Solution 1.xlsx

Chapter 4 Problem 2
Week Day
1 Monday
1 Tuesday
1 Wednesday
1 Thursday
1 Friday
2 Monday
2 Tuesday
2 Wednesday
2 Thursday
2 Friday
3 Monday
3 Tuesday
3 Wednesday
3 Thursday
3 Friday
4 Monday
4...

This question was asked on Jul 19, 2016 and answered on Jul 21, 2016.

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