Complete problem 1-2 below.
For all problems below you must show me work “by hand” as the examples in the textbook illustrate. I have also included video examples that show how to do all of the work, but also show calculator tips. If you are going to do work with pencil/paper then you need to give yourself time to scan your documents into a digital format. A picture of your work with your cell phone is not acceptable. Utilizing a phone scanner app like CamScan is fine, just make sure it is legible. CamScan will allow you to put all pages into one file directly and you can email it to yourself as a PDF file in order to upload it into Canvas. You can choose to type this portion, but you might have difficulty with some of the formulas so it may be easier to just show work by hand and scan.
You must submit ONE pdf file to me; if you use a scanner that takes multiple images you need to import them into ONE file for submission. The file can have as many pages as needed. MAKE SURE THE SCANS ARE LEGIBLE AND READABLE; IF YOUR BOSS WOULDN’T CONSIDER IT ACCEPTABLE THEN NEITHER WILL I. I will only grade ONE file, so if you have more, I will only grade one of them!!!!!!!
As always, work on this ahead of schedule to give yourself time to deal with technical issues that ALWAYS happen unexpectedly.
You will use the mean, standard deviation and sample size of these 2 categories: Cost of Tuition Out-of-State and Dollar Amount of Financial Aid per student.
You will use the mean of the proportions (rounded to 4 decimal places) and the mean of the enrollment (rounded to the nearest integer) for these 2 categories: Proportion of students receiving aid, and overall graduation rate.
Here are the problems you need to complete with your means and standard deviations from Phase 1, Part C:
1) Construct 95% and 99% confidence intervals using your sample mean for each of the categories listed below (2 intervals for each category, you will complete 4 total confidence intervals ) Use your mean and standard deviation from Phase 1 to construct the confidence intervals for each category. Use t-intervals assuming the distributions are normally distributed. Show the work of constructing the intervals by hand similar to example 3 on page 313 and WRITE AN INTERPRETATION (like in example 3) FOR EACH CONFIDENCE INTERVAL YOU BUILD.
a) Cost of tuition: out-of-state
b) Dollar amount of financial aid per student (no loans)
2.) Construct 95% and 99% confidence intervals using your sample mean for each of the categories listed below (2 intervals for each category, you will complete 4 total confidence intervals). Use a 1-proportion z-interval done in example 2 on page 322; use your sample mean (rounded to 4 decimal places) from excel to be the sample proportion (p-hat) for each category, and use the mean of the enrollment as your sample size (round to the nearest integer).
a) Proportion of Student receiving aid
b) Graduation rate