Applied Managerial Statistics Scenario/Summary A confidence interval is a defined range of values such that there is a specified probability that the value of a parameter lies within the interval. Ass
Applied Managerial Statistics
A confidence interval is a defined range of values such that there is a specified probability that the value of a parameter lies within the interval.
Pick a topic, complete research and provide a write-up that includes calculations. Round all values to two decimal places when appropriate.
1. Choose a Topic where you can gather at least 50 pieces of data.
Examples of Topics
- The Golden Gate Warriors Points Per Game in 2016 (use the points scored in the first 50 games).
- High School Graduation Rates by State (use the graduation rates for all 50 states)
- Average Tuition Rates in the US (You have to find the tuition rates of 50 college/universities).
- The prices of a hotel room per night in a major city (You have to find the price of the same night of hotels in one city).
- Weights of 50 babies at birth.
2. Write at least a 1-Page Report (APA Format, cite and reference)
Open a Word Document
- Introduction–In APA format, provide a description of your topic and cite where you found your data with reference.
- Sample Data—Include a 5×10 table including your 50 values in your report. You must provide ALL of your sample data.
- Problem Computations—For the topic you chose, you must answer the following:
- Determine the mean and standard deviation of your sample.
- Find the 80%, 95%, and 99% confidence intervals.
- Make sure to list the margin of error for the 80%, 95%, and 99% confidence interval.
- Create your own confidence interval (you cannot use 80%, 95%, and 99%) and make sure to show your work. Make sure to list the margin of error.
- Problem Analysis—Write a half-page reflection.
- What trend do you see takes place to the confidence interval as the confidence level rises? Explain mathematically why that takes place.
- Provide a sentence for each confidence interval created in part c) which explains what the confidence interval means in context of topic of your project.
- Explain how Part I of the project has helped you understand confidence intervals better?
- How did this project help you understand statistics better?
Microsoft Office: Word and Excel
DUE: 4/12/20 @ 7PM, Eastern standard time.