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(Solved) MBAd 6222 Data Analysis & Decisions Assignment Student ID: G You are the Admissions Director at Holt State University (HSU), a large public...


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Please show calculations - I'm getting weird numbers for questions 7-11.   I need help with ALL.  Please note that numbers need to be accurate to 4 DECIMAL PLACES.


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MBAd 6222
Data Analysis & Decisions Assignment Student ID: G      You are the Admissions Director at Holt State University (HSU), a large public university. You wish to have
statistics that draw potential applicants' attention to HSU's unusually low tuition: annual tuition+fees=$8,200.
You commission an assistant director to draw a random sample from the population of all public four-year
colleges and universities in order to estimate the population average annual tuition+fees ("TF"). The data are
contained in Tuition.txt: each observation in this file represents one school in the sample, and is formatted as
follows: the TF amount (in dollars) followed by a blank followed by either a "C" (the institution is a college: i.e.,
awards undergraduate degrees only) or a "U" (the institution is a university: i.e., awards both undergraduate and
graduate degrees). PLEASE NOTE: ALL ANSWERS MUST BE ACCURATE TO AT LEAST 4 PLACES TO
THE RIGHT OF THE DECIMAL POINT, AS CALCULATED BY EXCEL: you will not earn credit for any
answer you provide with less accuracy than 4 places to the right of the decimal point. You should use ONLY
Excel to derive these answers, and should NOT use any auxiliary software (such as StatTools).
Based on these data, please answer the following questions:
1.
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24. What is the best estimate of the population mean TF?      
What is the best estimate of the population standard deviation of TF?      
What is the best estimate of the standard error of the sample mean TF?      
What is the lower bound of a 95% confidence interval for the mean TF (using t)?      
What is the upper bound of a 95% confidence interval for the mean TF (using t)?      
Can you claim that you are 95% confident that HSU's TF is different than the average TF of all public fouryear colleges and universities? (No/Yes)       Why/Why not?      
What is the best estimate of the proportion of the population with TF values exceeding $8200?      
What is the best estimate of the standard error of the proportion of the population with TF values exceeding
$8200?      
What is the lower bound of a 95% confidence interval for the proportion of the population with TF values
exceeding $8200?      
What is the upper bound of a 95% confidence interval for the proportion of the population with TF values
exceeding $8200?      
Can you make the claim that you are at least 95% confident that more than 75% of the nation's public fouryear colleges and universities have higher annual tuition+fees than HSU? (No/Yes)       Why/Why not?
     
What is the best estimate of the mean TF of universities?      
What is the best estimate of the mean TF of colleges?      
What is the best estimate of the difference (universities minus colleges) in mean TF values?      
What is the best estimate of the standard deviation of TF of the population of universities?      
What is the best estimate of the standard deviation of TF of the population of colleges?      
How many universities were sampled?      
How many colleges were sampled?      
What is the best estimate of the pooled standard deviation of TF, derived from the estimated standard
deviation of universities pooled with the estimated standard deviation of colleges?      
What is the best estimate of the standard error of the difference (universities minus colleges) in mean TF
values?      
How many degrees of freedom are available for estimating the difference (universities minus colleges) in
mean TF values?      
What critical value (…your textbook calls this the “t-multiple”…) should be used in calculating the lower and
upper bounds for the difference (universities minus colleges) in mean TF values?      
What is the lower bound of a 95% confidence interval on the difference (universities minus colleges) in mean
TF?      
What is the upper bound of a 95% confidence interval on the difference (universities minus colleges) in mean
TF?       (For the last 2 questions, you may assume equal variances.)

 


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