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

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Data Analysis &amp; Decisions Assignment Student ID: Gâ€‚â€‚â€‚â€‚â€‚ 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 (&quot;TF&quot;). 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 &quot;C&quot; (the institution is a college: i.e.,
awards undergraduate degrees only) or a &quot;U&quot; (the institution is a university: i.e., awards both undergraduate and
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).
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24. What is the best estimate of the population mean TF? â€‚â€‚â€‚â€‚â€‚
What is the best estimate of the population standard deviation of TF? â€‚â€‚â€‚â€‚â€‚
What is the best estimate of the standard error of the sample mean TF? â€‚â€‚â€‚â€‚â€‚
What is the lower bound of a 95% confidence interval for the mean TF (using t)? â€‚â€‚â€‚â€‚â€‚
What is the upper bound of a 95% confidence interval for the mean TF (using t)? â€‚â€‚â€‚â€‚â€‚
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) â€‚â€‚â€‚â€‚â€‚ Why/Why not? â€‚â€‚â€‚â€‚â€‚
What is the best estimate of the proportion of the population with TF values exceeding \$8200? â€‚â€‚â€‚â€‚â€‚
What is the best estimate of the standard error of the proportion of the population with TF values exceeding
\$8200? â€‚â€‚â€‚â€‚â€‚
What is the lower bound of a 95% confidence interval for the proportion of the population with TF values
exceeding \$8200? â€‚â€‚â€‚â€‚â€‚
What is the upper bound of a 95% confidence interval for the proportion of the population with TF values
exceeding \$8200? â€‚â€‚â€‚â€‚â€‚
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) â€‚â€‚â€‚â€‚â€‚ Why/Why not?
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What is the best estimate of the mean TF of universities? â€‚â€‚â€‚â€‚â€‚
What is the best estimate of the mean TF of colleges? â€‚â€‚â€‚â€‚â€‚
What is the best estimate of the difference (universities minus colleges) in mean TF values? â€‚â€‚â€‚â€‚â€‚
What is the best estimate of the standard deviation of TF of the population of universities? â€‚â€‚â€‚â€‚â€‚
What is the best estimate of the standard deviation of TF of the population of colleges? â€‚â€‚â€‚â€‚â€‚
How many universities were sampled? â€‚â€‚â€‚â€‚â€‚
How many colleges were sampled? â€‚â€‚â€‚â€‚â€‚
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? â€‚â€‚â€‚â€‚â€‚
What is the best estimate of the standard error of the difference (universities minus colleges) in mean TF
values? â€‚â€‚â€‚â€‚â€‚
How many degrees of freedom are available for estimating the difference (universities minus colleges) in
mean TF values? â€‚â€‚â€‚â€‚â€‚
What critical value (â€¦your textbook calls this the â€œt-multipleâ€â€¦) should be used in calculating the lower and
upper bounds for the difference (universities minus colleges) in mean TF values? â€‚â€‚â€‚â€‚â€‚
What is the lower bound of a 95% confidence interval on the difference (universities minus colleges) in mean
TF? â€‚â€‚â€‚â€‚â€‚
What is the upper bound of a 95% confidence interval on the difference (universities minus colleges) in mean
TF? â€‚â€‚â€‚â€‚â€‚ (For the last 2 questions, you may assume equal variances.)

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