A midsized university collected data on all 10,128 seniors attending. One variable of interest was how many
Question:
A midsized university collected data on all 10,128 seniors attending. One variable of interest was how many credits they earned after they completed two years of school (i.e. credits they earned by their junior year).
a) Obtain the mean and standard deviation for the credits variable. Present the mean and standard deviation in one table and round the values to two decimal places. Are these calculations parameters or statistics? Answer this question in one sentence.
Column | Mean | Std. dev. |
Credits | 52.44 | 12.54 |
Are these calculations parameters or statistics? Answer this question in one sentence.
b) Take one sample of size 7 from the population and calculate the mean and standard deviation of this sample. Present the mean and standard deviation in one table and round the values to two decimal places. Are these calculations parameters or statistics? Answer this question in one sentence.
Column | Mean | Std. dev. |
Sample 7 (Credits) | 52.14 | 8.43 |
c) Does the sample mean calculated in (b) come from a normal sampling distribution? Check the three conditions of the Central Limit Theorem using one complete sentence for each condition.
d) Take one sample of size 28 from the population and calculate the mean and standard deviation of this sample. Are these calculations parameters or statistics? Answer this question in one sentence.
Column | Mean | Std. dev. |
Sample 28 (Credits) | 48.75 | 11.71 |
e) Does the sample mean calculated in (d) come from a normal sampling distribution? Check the three conditions of the Central Limit Theorem using one complete sentence for each condition.
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen