Can you help me understand this Statistics question?
The Excel spread sheet and pdf is for Experience 2 Application only.
EXPERIENCE 3 ASSISGNMENT
Suppose you are representing the employees at a large corporation during contract negotiations. You have a list of the salaries of all the employees at the corporation (The salaries include the many lower level employees and the few high paid management employees) and you plan to find a measure of center (e.g. mean, median, or mode).
a. Which measure or center would you use to represent the employees in an effort to support your claim that the average salary of lower level employees is much lower than the national average (for lower level employees) and thus should be increased?
b. Why is this the better choice?
Suppose you wish to invest money safely and are trying to decide between stock options in two companies. The average rates of return are the same for both companies but, one company has a much larger standard deviation of its rates of return. a. Which company should you invest in?
The company with the smaller standard deviation
The company with the larger standard deviation
b. Why is this the better choice?
Describe the shape of the distribution for the following and justify your answer:
a. The distance people travel to work on a typical day – The horizontal axis is the distance traveled in a person’s daily commute. The vertical axis is frequency (number of people with that distance for their daily commute). Shape of distribution:
b. Number of hours of sleep for each night of the week (weekdays only) – The horizontal axis is the day of the week (Monday to Friday) and the vertical axis is the amount of sleep in hours for that night. Shape of distribution:
c. Age of first heart attack – The horizontal axis is age. The vertical axis is frequency (number of people who had their first heart attack at that age). The population is people in the US who have had at least one heart attack. Shape of distribution:
d. Scores on the Graduate Requirement Exam – This is a standardized test for people entering graduate school. The horizontal axis would be the person’s total score. The vertical axis would be frequency (number of people with that score). The population would be all GRE test takers for a given year. Shape of distribution:
EXPERIENCE 2 APPLICATION
You must use spreadsheet software (e.g. Excel) for this problem.
1. For each state and Washington DC, the percentage of people without health insurance was determined. Given the data set (The file is located in the main Experience folder) create the following using spreadsheet software. Refer to the model/methodology for the desired format. Make sure to use 5-20 classes with a “nice” class width when creating the distribution tables. Make sure to label axes in both graphs.
a. Grouped frequency distribution (table)
b. Grouped relative frequency distribution (table)
c. frequency histogram (graph)
d. relative frequency histogram (graph)
Submit the completed spreadsheet as a .xls or .xlsx file.
2. A survey of 50 college students was conducted to determine how much weekly income they earned from employment. Given the data set in Applications folder for this experience complete the following. Refer to the model/methodology for the desired format.
a. Find the 5 number summary of the data set.
b. Create a box-plot for the data set using software (Choices include: The boxplot generator linked in the resources area, spreadsheet software, TI-84 (take a picture of your calculator), other software or websites.) Upload your finished file below.
Question 2 Part 6 of 9Choose File No file chosen
c. Identify any outliers. List the individual numbers that are outliers for this data set. If there are multiple outliers, separate them by commas.
d. Give a possible explanation as to why the individual (or individuals) from part c might have a number (or numbers) that are so high (or so low).
e. Interpret yourself as a percentile in the data set. First estimate your weekly income from employment (If you are not employed then use 0). Then find the percentile (see book for the formula) for your income using the sample data. Then interpret the percentile using the definition and writing a complete sentence.