MATH 214 Probability and Statistics for Business
Dr. Ed Donley
Computer Assignment 3
Section 004: Due Wednesday, April 18, 2001
Section 007: Due Thursday, April 19, 2001
The data set at
http://www.ma.iup.edu/~hedonley/ma214/startingsalary.xls
gives the starting salary of a sample of 52 graduating seniors from the University of Illinois at Chicago College of Business who reported having a job two weeks prior to graduation in May 1999. The columns in the spreadsheet give the graduates’ first salary offer (in hundreds of dollars), final salary offer (in hundreds of dollars), sign-in bonus (in dollars), age, GPA, major, double major if any, gender, and the number of pre-graduation professional internships. The majors and double major codes are:
|
Code |
Major |
|
1 |
accounting |
|
2 |
economics |
|
3 |
finance |
|
4 |
information science |
|
5 |
management |
|
6 |
marketing |
If the graduate was not a double major, then the double major code is 0. The gender code is 1 for female and 2 for male.
A) Perform a hypothesis test to attempt to show that the average final salary offer of all graduating seniors from this college is over $40,000. Use a significance level of 0.05. Write out the hypothesis test and include an Excel printout of the relevant computations.
B) Use Excel to find a 90% confidence interval for the average age of all graduating seniors. Include an Excel printout.
C) Students with internship experience might draw larger final salary offers than those without any internship experiences. Use Excel to test this with a = 0.08. Note: You can separate those with and without internship experience by sorting the data by internship experience. Use the Data->Sort menu item in Excel. Write out the hypothesis test and include an Excel printout of the relevant computations.
D) Test for a difference in female and male final salary offers with a = 0.05.
EXTRA CREDIT) (5 points)
Test to see if there is a higher fraction of males in the information science major than in all business majors with 98% confidence. Also, construct a 98% confidence interval for the difference in the fraction of males in information science and the fraction of males in all business majors.