I’m trying to learn for my Statistics class and I’m stuck. Can you help?
Business Statistics Project Assignment
Write a minimum 4-page report explaining the results from your analysis of the ROI of Business Majors and Engineering Majors. Use your results from each week’s assignment to make this report.
This report should include:
A detailed description of the data used in this analysis – specifically explain what the data in each column represents.
A detailed explanation of any information learned about:
School Type for each major;
The Cost for each major;
The 30 Year ROI for each major;
The Annual % ROI for each major.
Explanations should be supported with the results obtained from your work in previous weeks.
Finally, answer the following questions and support your answer with your results.
Does there appear to be a particular major that gives a better ROI? Why or Why not?
Given that we are using statistical inference to make our conclusions, is it guaranteed that the major you choose that gave a better ROI for this sample will always have a better ROI than the other major? Explain your reasoning.
**Below are the questions that were answered for each assignment.Also, attached are my weeks of ROI (results from each week’s assignment) and the ROI Excel spreadsheet used for each assignment.**
For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadsheet.
In this data set – the ROI data set – for 2 different majors (Business and Engineering), you are given a sample of the 20 best colleges according to ROI (ROI = Return on Investment) and their ‘School Type’, ‘Cost’, ’30-Year ROI’, and ‘Annual % ROI’.
For each of the 2 majors create a pie chart using the column ‘School Type’. Comment on your results.
For each of the 2 majors create a frequency distribution and histogram using the column ‘Annual % ROI’. Group with starting at 6% (0.06), ending at 11% (0.11), and go by 0.5% (0.005).
For the histograms title your charts “Histogram Business Major: Annual % ROI” for Business majors and “Histogram Engineering Major: Annual % ROI” for Engineering Majors. Comment on your results.
For each of the 2 majors calculate the mean, median, minimum, maximum, range, and standard deviation for the columns ‘Cost’ and ’30-Year ROI’.
By hand or with Excel, for each of the 2 majors calculate the probability that a college picked from the column for ‘School Type’ is ‘Private’.
By hand or with Excel, for each of the 2 majors find the probability that a college with the ‘School Type’ ‘Private’ has a ’30-Year ROI’ between $1,500,000 and $1,800,000.
If we select 7 colleges from a major and then record whether they are of ‘School Type’ ‘Private’ or not, is this experiment a binomial one? Why or why not?
For each of the 2 majors determine if the ‘Annual % ROI’ appears to be normally distributed. Consider the shape of the histogram and the measures of central tendency (mean and median) to justify your results. Report on each of these with charts and calculations to justify your answers.
For each of the 2 majors consider the ‘School Type’ column. Assuming the requirements are met, construct a 90% confidence interval for the proportion of the schools that are ‘Private’. Be sure to interpret your results.
For each of the 2 majors construct a 95% confidence interval for the mean of the column ‘Annual % ROI’. Be sure to interpret your results.
For each of the 2 majors test the hypothesis at the 5% significance level:
The mean ‘Cost’ for a college is $160,000. Be sure to interpret your results.
For Business versus Engineering majors conduct a two sample test of the hypothesis at the 10% significance level (assume the variances are not equal):
The average ’30-Year ROI’ for Business majors is less than for Engineering Majors. Be sure to interpret your results
Using the ROI data set:
For each of the two majors:
Draw the scatter diagram of Y = ‘Annual % ROI’ against X = ‘Cost’.
Obtain b0 and b1 of the regression equation defined as y ̂ = b0 + b1X and the coefficient of determination (r2) from the Excel regression output.
Draw the fitted regression line on the scatter diagram.
Calculate the estimated ‘Annual % ROI’ when the ‘Cost’ (X) is $160,000.
Test the hypothesis:
oH0: β1 = 0
oHa: β1 ≠ 0
Write a paragraph or more on any observations you make about the regression estimates, coefficient of determination, the plots, and the results of your hypothesis tests.
Please provide original work.No plagarizing.If you have any questions please let me know.