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Homework answers / question archive / STA3215CBE Section 01CBE Inferential Statistics and Analytics (12 Weeks) - C

STA3215CBE Section 01CBE Inferential Statistics and Analytics (12 Weeks) - C

Statistics

STA3215CBE Section 01CBE Inferential Statistics and Analytics (12 Weeks) - C...

     Properly           formatted.           Formatted.

   Formatted.

Deliverable 3 - Confidence Intervals

Competency

Given a real-life application, develop a confidence interval for a population parameter and its interpretation.

Instructions

Scenario (information repeated for deliverable 01, 03, and 04)

A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from $30,000 to $200,000 per year. As a Business Analyst, your boss asks you to research and analyze the salary distributions. You are given a spreadsheet that contains the following information:

A listing of the jobs by title

The salary (in dollars) for each job

You have previously explained some of the basic statistics to your client already, and he really liked your work. Now he wants you to analyze the confidence intervals.

Background information on the Data

The data set in the spreadsheet consists of 364 records that you will be analyzing from the Bureau of Labor Statistics. The data set contains a listing of several jobs titles with yearly salaries ranging from approximately $30,000 to $200,000 for the state of Minnesota.

What to Submit

Your boss wants you to submit the spreadsheet with the completed calculations, answers, and analysis.

              P                                P                              C                                B                             A

              0                                 1                              2                                3                             4

          Not

    Submitted                   No Pass                  Competence           Proficiency            Mastery

 

                                       Did not                          Correctly                Correctly           All problems

                                      Correctly                       solved a                 solved almost are solved

                                     Solve a                           majority of the all the                       correctly.

Not                             majority of the problems.                            Problems.

Submitted                problems or

                         At least one

                         Problem left

                        Blank.

                       Very few                               Fairly                                  Mostly                              Complete and

                      Steps are                               complete and                  complete and                   detailed steps

                     Provided to                           detailed steps                  detailed steps                  are provided

                    Explain how                          are provided                     are provided                     to explain

Not            to solve the                           to explain                           to explain                         how to solve

Submitted   problem OR                  how to solve                      how to solve                         the problem.

                    The steps                            the problem                    the problem.

                   Provided have                OR the steps

                  Several                            provided have

                 Errors.                             some errors.

                Explanations                  Explanations                          Explanations                          Explanations

               Generally lack                  demonstrate                       demonstrate                           demonstrate

                 a basic                              a basic                                 a proficient                              a mastery of

               understanding                understanding                     understanding                      understanding

                of the                                of most of the                       of most of the                       of the

                statistical                              Statistical                          Statistical                          Statistical

Not             concepts or                      concepts and                     concepts and                 concepts and

Submitted

                     lack of proper                  terminology,                       terminology,                   terminology.

                   terminology.                     but some                               but with small

                                                               explanations                          errors.

                                                                  may be

                                                             incomplete or

                                                                   incorrect.

                 The majority                       The majority                           Almost all                        All variables,

                of variables,                         of variables,                             variables,                            equations,

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