Expert answer:MA215 Grantham Week 5 Confidence Interval & Annual


Solved by verified expert:Project Week 5For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadheet. Download it here.
For each of the 2 majors consider the ‘School Type’ column. Construct a 92% confidence interval for the proportion of the schools that are ‘Private’. For each of the 2 majors, construct a 98% confidence interval for the mean of the column ‘Annual % ROI’.In a highlighted box, discuss the following. How do these confidence intervals provide information about the which is the better major in terms of Annual ROI? Compare the confidence intervals. Which is narrower? Wider? What does the width have to do with advising someone on which major has the better ROI? Why is it important to know the proportion of schools that are private? What factors differ in public and private schools that could influence ROI? Is a 98% confidence interval a guarantee that the ROI will be in the interval? Why or why not? Hints – these websites might help to find z or t sub alpha over 2. (you have to know which one)
Grading Criteria AssignmentsMaximum PointsMeets or exceeds established assignment criteria40Demonstrates an understanding of lesson concepts20Clearly presents well-reasoned ideas and concepts30Uses proper mechanics, punctuation, sentence structure, and spelling10Total100

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