MB 3200 NAME Eric Kouakou Project 1 Summer 2017 Directions: 1. Choose one of the data sets assigned in Canvas and enter the data into a Statistix data file. 2. Use the Statistix program to create the printouts requested in this project. 3. Attach the requested printouts to the project as I have directed and answer the questions that I have asked in the space provided. Write your answers in the words of the problem, as generic answers will not receive full credit. 4. Turn in the project during class on May 22nd. 5. You are expected to do your own work on this project. Outside of your teaching assistant and myself, no other people should help you on this project. 1. Create a printout that provides a listing of the data that you entered into Statistix. It should show the 75 cases that you entered and contain three columns of data. Label this printout as DATA PRINTOUT and attach it to the back of this project. a. Describe for me the quantitative variables you collected in your data set: (4 points) QN #1: QN #2: b. Identify for me what/where the levels 1, 2, and 3 of your qualitative variable represent. (3 points) Level 1: It represents the price for used Honda Accord from year 2010 to 2012 on autotrader.com Level 2: It represents the price for used Nissan Maxima from year 2010 to 2012 on autotrader.com Level 3: It represents the price for used Mitsubishi Lancer from year 2010 to 2012 on autotrader.com c. Identify the experimental unit for your data set. (2 points) One single used car of my data d. Create a stem-and-leaf display of your price variable. Label this printout as Stem-andLeaf PRINTOUT and attach it to the back of this project. Describe the shape of the prices you observe in the plot. (3 points) I observe that my Stem-and-leaf based on the price is skewed to the right meaning that 2. Use Statistix to create the descriptive statistics for the two quantitative Mileage variables that you collected data for. Make sure to include the n, minimum N and maximum values, 75 mean, median, Lo for 98%a CI 39609 standard deviation, and the confidence interval endpoints 98% confidence interval. Paste Mean 45516 the printout in the space provided here and answer the following questions. a. Up 98% CI 51424 SD 21515 For your mileage or size variable, interpret the standard deviation by giving me a range Minimum 2875.0 in which you think \"most\" of the values (i.e., the x's) will fall. 42001 (Hint: you may need to do Median Maximum 119076 some math here) (3 points) The mean is 45516, we will add (2*21515) =43030 45516+43030=88546 The mean is 45516, we will subtract (2*21515) =43030 45516-43030=2486 The most values will fall between ((2486 and 88546) The Standard Deviation is the average distance from the mean that is measured. We will have to go 2 time the standard deviation on the right side of the mean and 2 times less on the left side of the mean to determine the range. b. Find the 98% confidence interval for estimating the mean price of your data set (2 points) The 98% confidence interval is between (18783 and 21762) dollars c. Give a practical interpretation for the interval specified in part b. (4 points) I am 98% confident that the true mean is between 18783 and 21762. 98% of the price will fall between the lowest price which is 18783 and the highest price 21762. d. Explain what you mean when you say that you are \"98% confident\" in the practical interpretation above in part c. (2 points) I meant that only 2% of the car prices won't fall between the interval (18783 and 21762).i am 98% confident that he true mean will be between the two values. 2% of the time, it will not. e. What assumption(s) is/are necessary for this analysis to be valid? Make sure you state your answer in the words of the problem (4 points) The distribution of the test is normally distributed with n>.or = 30 , a random sample of cars taken from the population. N 3. TESTS OF HYPOTHESIS: Use Statistix to create a printout to conduct the appropriate test for the data set you worked with: Use only model/location 3 in this analysis. Apartment Data Set: Test to determine if the average size differed from 600 square feet. Automobile Data Set: Test to determine if the average mileage differed from 40,000 miles. Home Data Set: Test to determine if the average size of the home differed from 1,750 square feet. Copy the results here and answer the following questions. One-Sample T Test printout Null Hypothesis: = 40000 Alternative Hyp: 40000 Variable Mileage Mean 44229 Cases Included 25 a. SE 3845.1 T 1.10 DF 24 P 0.2823 Lower 95% C.I. 36293 Upper 95% C.I. 52165 Missing Cases 0 State the null and alternative hypotheses that are being tested with the specified test. (3 points) Ho: =40000 Ha: 40000 b. Identify the test statistic and p-value you will use in this test of hypothesis (2 points) Test Statistic: ______1.10______ c. P-value: _____0.2823____ What assumption(s) is/are necessary for this analysis to be valid? Make sure you state your answer in the words of the problem (4 points) We will need a random sample of Mitsubishi lancer cars the sample is <30, then the population of cars needs to be approximatively normal d. Make a conclusion for the test of hypothesis conducted above. You should choose . (4 points) Level of significance=1-0.95=0.05 P value 0.2823 > 0.05 =0.05