Taylor Spring

Term Project: Part 2

Confidence Interval- Range of values defined that are in a specified probability
that the value of a parameter lies within it.
95% Confidence interval for Humanities and Social SciencesAverage
Standard
Deviation
Sample Size
Confidence
Coeff.
Margin of Error
Upper bound
Lower bound
Max
Min
Range

39189
7787.1
35
25
195%
3036.9
83
42226
36152
54220
23114
31106

99% Confidence Interval for BusinessAverage

Standard
Deviation
Sample Size
Confidence
Coeff.
Margin of Error
Upper bound
Lower bound
Max
Min
Range

55626
7569.6
66
50
258%
2756.5
69
58382
52869
69810
40745
29065

80% Confidence interval for all students with compensation over $50,000
Average
Standard
Deviation
Sample Size
Confidence
Coeff.
Margin of
Error
Upper Bound
Lower Bound

59878
5900.2
57
112
128%
713.62
81
60591
59164

Taylor Spring
Term Project: Part 2
Max
80236
Min
50262
Range
29974
From the confidence interval estimates taken from different categories you can tell
that that they all vary depending on what youre looking at and your confidence
coefficient really can make a difference. In your data. Also the bigger the sample
size the bigger your sample is, which can also help you determine and evaluate
your data.

Hypothesis Testing:
Hypothesis test- We test a statistical hypothesis. Methodology employed by the
analyst depends on the nature of the data use, and the goals of the analysis. The
goal is to fail to reject or reject the null hypothesis.
Education Hypothesis TestingThere isnt enough information to finish the test, no one in the given data made
under $35,000.
Student make over $40,000Ho- mean = 40,000
H1- mean <40,000

Mean
Variance
Observation
s
Hypothesize
d Mean
Difference
Df
t Stat
P(T<=t)
one-tail
t Critical
one-tail
P(T<=t)
two-tail
t Critical
two-tail

Variabl
e1
52632.
58
806457
94
268
0
267
23.028
65
1.11E65
2.3403
95
2.23E65
2.5943
68

Varia
ble 2
40000
0
268

Taylor Spring
Term Project: Part 2

Reject the null due to the t values being bigger than our critical value. We need to
assume based on this sample that the average people make is more than $40,000.

Reflection:
During interval estimates you have to have your mean, standard deviation, sample
size, critical values, margin of error, upper and lower bounds, and your min and
your max values. I made sure for every test I did that I had those and that they
were to be calculated correctly. As for hypothesis test, I made sure I came up with
Ho & Ha hypothesis test. I took my data and I made sure that what was being
asked was being tested. With a data set this big and me not being so familiar with
excel I could see myself mixing up the columns and getting the names mixed up,
which could result in the wrong numbers I needed for that specific career. To fix this
solution I could defiantly get more comfortable with excel and learn how to hide
columns instead of deleting them. This statistical research showed us data that is
pulled from different areas of work and how much money they are starting out. This
can show us future workers what people are starting out and all the different test
are areas we are able to evaluate and pull different data from all careers and
decide what career path is better off. Maybe money will change perspectives of
which career people choose, usually does end up this way.