project week 3 2
Project Week 3
For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadheet. Download it here.
Central question: Which major, business or engineering, will give the better ROI?
Using the ROI data set:
- According to the textbook, what are the characteristics of a binomial experiment? Explain how the following scenario fits EACH of the requirements for a binomial experiment. Scenario: We randomly select 7 colleges from the business major and then record whether they are of ‘School Typeâ€
‘Privateâ€
or not. - In a perfect normal distribution, if the mean is 23, what is the median? What is the mode?
- For each of the 2 majors determine if the ‘Annual % ROIâ€
appears to be normally distributed. Use a histogram and the measures of central tendency (mean and median) to justify your results. #2 above is a big hint for how to justify whether the Annual ROI is normally distributed. - In a highlighted box, explain how having or not having a normal distribution for each of the majors may affect your ability to compare the data of the two majors. In a normal distribution, what percent of values falls 1 standard deviation from the mean? Two standard deviations from the mean? Three standard deviations from the mean? How does this relate to the central question?
| Grading Criteria Assignments | Maximum Points |
| Meets or exceeds established assignment criteria | 40 |
| Demonstrates an understanding of lesson concepts | 20 |
| Clearly presents well-reasoned ideas and concepts | 30 |
| Uses proper mechanics, punctuation, sentence structure, and spelling | 10 |
| Total | 100 |
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