Using the appropriate graphical or numerical descriptors, describe each of the following variables from the Salary Data Set; current salary, previous experience, education, and gender. Be sure to include an explanation of why you selected the method used to describe the students.
2. You are the manager of a high-end ladies fashion store. For the past few months you have been gathering data and found that 45% of persons entering the store actually make a purchase.
a. If 15 people enter the store, what is the probability that 9 of them will make a purchase?
b. What is the probability that at least 6 of the 15 people will make a purchase?
3. Using the Salary Data Set what is the probability of randomly selecting one individual (male or female) with an annual salary of over $55,000?
4. Using the Salary Data Set and assuming that the salary data is a random sample from the population of salaries from the multi-national company estimate the mean salary for company executives using confidence intervals. Provide following information:
a. The 90% confidence level
b. The 95% confidence level and one at
c. The 99% confidence level.
d. What is the relationship between the interval estimates and the level of confidence?
5. You are a consultant working for Kaplan Consulting. The director of Human Resources for a multi-national company has requested help in investigating a pay discrimination complaint. The company provided the data in the Salary Data Set. You have been tasked to investigate this claim. Be sure to state:
a. Your null and alternative hypotheses;
b. The level of alpha you elect to use and why in terms of Type I or Type II error;
c. What statistical technique you would use;
d. Show the output from the analysis;
e. Your interpretation of the results; and
f. A written statement to the director of Human Resources as to whether they should be concerned about the complaint.
6. Using the States Data Set, what is the relationship between college debt and percent not covered by health insurance? Create a scatter plot to show this relationship? Do you consider Texas and Massachusetts to be outliers and why or why not?
7. Explain why rejecting the null hypothesis does not make the alternative hypothesis true.
8. In a state lottery participants select 6 numbers between 1 and 49. At the end of the week, the state lottery commission randomly draws 6 numbers between 1 and 49. How many different possible winning tickets could be drawn by the lottery commission?
9. The time required to complete a project is normally distributed with a mean of 80 weeks and a standard deviation of 5 weeks. The construction company must pay a penalty if the project is not finished by the due date of the contract. If a construction company bidding on this contract wishes to be 90 % sure of finishing by the due date, what due date (project week #) should be negotiated?