Use Excel’s Data Analysis

 

There are 2 attachments. One is for question #2 and the other has its own questions that need to be answered.

 

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Use Excel’s Data Analysis to arrive at some of the statistics you will need to conduct the 5-step hypothesis test.  Data Analysis will not give you the final test statistic but it can help you arrive at the test statistic.  Give it a try and comment on others’ attempts.  I’ll post a solution toward the end of the week or point you to someone’s solution that is on track.

 

 

Listed below is the rate of return for one year (reported in percent) for a sample of 12 mutual funds that are classified as taxable money market funds.

 

4.63      4.15      4.76      4.70      4.65      4.52      4.70      5.06      4.42      4.51      4.24      4.52

 

Using the .05 significance level, is it reasonable to conclude that the mean rate of return is more than 4.50%?

 

 

Be sure to note that these are 5-step hypothesis tests much like the one-sample test we discussed in the first dq – so be sure to continue showing all 5 steps of your tests.  The main difference between this dq’s material and the prior dq’s material is that we are choosing two samples (both random selections) instead of just one. We are testing the hypothesis that the two samples came from just one population – the differences we see between the sample means or sample proportions are small enough to conclude that we just randomly selected two samples from the same population.

 

If, though, the two samples are “far” apart we must conclude that the two samples came from two populations – the difference we see between the two sample means or proportions will also very likely be seen if we had the whole population to work with.

 

We measure “far” with standard error and compare this number of standard errors to a previously chosen number of standard errors that corresponds to a “level of significance” – the probability of rejecting the null when it is actually true.

 

1.     What is the difference between the independent sample test and the dependent sample test?

 

2.     Assume that I drew 2 random samples of University of Phoenix students, gave them a statistics exam, and one group (men) had a 76 average score and the other group (women) had an average score of 80.  Is it possible that things are not as they seem — that the women are smarter than the men?  (A question like this means that there is a hypothesis test involved, right?)

Note:  the standard deviation of the men’s scores was 8 and the women’s scores was 6.  There were 36 in each sample.  Assume a .05 level of significance. (Please see attachment)

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