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

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.

Assignment

Pick a topic, complete research and provide a write-up that includes calculations. Round all values to two decimal places when appropriate.

Deliverables

1. Choose a Topic where you can gather at least 50 pieces of data.   

Examples of Topics

1. The Golden Gate Warriors Points Per Game in 2016 (use the points scored in the first 50 games).
2. High School Graduation Rates by State (use the graduation rates for all 50 states)
3. Average Tuition Rates in the US (You have to find the tuition rates of 50 college/universities).
4. 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).
5. Weights of 50 babies at birth.

2. Write at least a 1-Page Report (APA Format, cite and reference)

Open a Word Document

1. Introduction--In APA format, provide a description of your topic and cite where you found your data with reference.
2. Sample Data—Include a 5x10 table including your 50 values in your report. You must provide ALL of your sample data.
3. 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.

1. 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?

NO PLAGIARISM

Required Software

Microsoft Office: Word and Excel

DUE: 4/12/20 @ 7PM, Eastern standard time.