This week you will submit Phase 5, the final phase, of your course project. For Phase 5 of your course project, you will want to review your instructor’s feedback from your Phase 4 submission and make any necessary corrections. Remember if you have questions about the feedback to ask your instructor for assistance.Once you have made your corrections, you will make your final submission for the course project. Below is a summary of the expectations for Phase 5 of the course project:Introduce your scenario and data set.Provide a brief overview of the scenario you are given above and the data set that you will be analyzing.Classify the variables in your data set.Which variables are quantitative/qualitative?Which variables are discrete/continuous?Describe the level of measurement for each variable included in your data set.Discuss the importance of the Measures of Center and the Measures of Variation.What are the measures of center and why are they important?What are the measures of variation and why are they important?Calculate the measures of center and measures of variation. Interpret your results in context of the selected topic.MeanMedianModeMidrangeRangeVarianceStandard DeviationDiscuss the importance of constructing confidence intervals for the population mean.What are confidence intervals?What is a point estimate?What is the best point estimate for the population mean? Explain.Why do we need confidence intervals?Based on your selected topic, evaluate the following:Find the best point estimate of the population mean.Construct a 95% confidence interval for the population mean. Assume that your data is normally distributed and σ is unknown.Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.Write a statement that correctly interprets the confidence interval in context of your selected topic.Based on your selected topic, evaluate the following:Find the best point estimate of the population mean.Construct a 99% confidence interval for the population mean. Assume that your data is normally distributed and σ is unknown.Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.Write a statement that correctly interprets the confidence interval in context of your selected topic.Compare and contrast your findings for the 95% and 99% confidence interval.Did you notice any changes in your interval estimate? Explain.What conclusion(s) can be drawn about your interval estimates when the confidence level is increased? Explain.Discuss the process for hypothesis testing.Discuss the 8 steps of hypothesis testing?When performing the 8 steps for hypothesis testing, which method do you prefer; P-Value method or Critical Value method? Why?Perform the hypothesis test.If you selected Option 1:Original Claim: The average salary for all jobs in Minnesota is less than $65,000.Test the claim using α = 0.05 and assume your data is normally distributed and σ is unknown.Based on your selected topic, answer the following:Write the null and alternative hypothesis symbolically and identify which hypothesis is the claim.Is the test two-tailed, left-tailed, or right-tailed? Explain.Which test statistic will you use for your hypothesis test; z-test or t-test? Explain.What is the value of the test-statistic? What is the P-value?What is the critical value?What is your decision; reject the null or do not reject the null?Explain why you made your decision including the results for your p-value and the critical value.State the final conclusion in non-technical terms.ConclusionRecap your ideas by summarizing the information presented in context of your chosen scenario.g310_dataset_option1.xlsxg310_mod05_homework.docxg310_scenario_option1.docxJob Title
Accountants and Auditors
Actuaries
Administrative Law Judges, Adjudicators, and Hearing Officers
Administrative Services Managers
Adult Basic and Secondary Education and Literacy Teachers and Instructors
Advertising and Promotions Managers
Advertising Sales Agents
Aerospace Engineering and Operations Technicians
Aerospace Engineers
Agents and Business Managers of Artists, Performers, and Athletes
Agricultural and Food Science Technicians
Agricultural Inspectors
Agricultural Sciences Teachers, Postsecondary
Air Traffic Controllers
Aircraft Cargo Handling Supervisors
Aircraft Structure, Surfaces, Rigging, and Systems Assemblers
Airfield Operations Specialists
Airline Pilots, Copilots, and Flight Engineers
Anthropologists and Archeologists
Appraisers and Assessors of Real Estate
Arbitrators, Mediators, and Conciliators
Architects, Except Landscape and Naval
Architectural and Civil Drafters
Architecture and Engineering Occupations
Architecture Teachers, Postsecondary
Archivists
Art Directors
Art, Drama, and Music Teachers, Postsecondary
Athletic Trainers
Atmospheric and Space Scientists
Atmospheric, Earth, Marine, and Space Sciences Teachers, Postsecondary
Audiologists
Avionics Technicians
Biomedical Engineers
Boilermakers
Broadcast News Analysts
Brokerage Clerks
Budget Analysts
Business and Financial Operations Occupations
Business Operations Specialists, All Other
Business Teachers, Postsecondary
Buyers and Purchasing Agents, Farm Products
Camera and Photographic Equipment Repairers
Captains, Mates, and Pilots of Water Vessels
Cardiovascular Technologists and Technicians
Career/Technical Education Teachers, Middle School
Career/Technical Education Teachers, Secondary School
Cargo and Freight Agents
Cartographers and Photogrammetrists
Chefs and Head Cooks
Chemical Engineers
Chemical Equipment Operators and Tenders
Chemical Plant and System Operators
Chemical Technicians
Chemistry Teachers, Postsecondary
Chemists
Child, Family, and School Social Workers
Chiropractors
Civil Engineers
Claims Adjusters, Examiners, and Investigators
Clinical, Counseling, and School Psychologists
Coil Winders, Tapers, and Finishers
Commercial and Industrial Designers
Commercial Pilots
Communications Equipment Operators, All Other
Communications Teachers, Postsecondary
Community and Social Service Occupations
Community Health Workers
Compensation and Benefits Managers
Compensation, Benefits, and Job Analysis Specialists
Compliance Officers
Computer and Information Research Scientists
Computer and Information Systems Managers
Computer and Mathematical Occupations
Computer Hardware Engineers
Computer Network Architects
Computer Network Support Specialists
Computer Occupations, All Other
Computer Programmers
Computer Science Teachers, Postsecondary
Computer Systems Analysts
Computer User Support Specialists
Conservation Scientists
Construction and Building Inspectors
Construction Managers
Continuous Mining Machine Operators
Control and Valve Installers and Repairers, Except Mechanical Door
Conveyor Operators and Tenders
Cost Estimators
Crane and Tower Operators
Credit Analysts
Credit Counselors
Criminal Justice and Law Enforcement Teachers, Postsecondary
Curators
Database Administrators
Dental Hygienists
Derrick Operators, Oil and Gas
Detectives and Criminal Investigators
Diagnostic Medical Sonographers
Dietitians and Nutritionists
Directors, Religious Activities and Education
Drafters, All Other
Economics Teachers, Postsecondary
Economists
Editors
Education Administrators, All Other
Education Administrators, Elementary and Secondary School
Education Administrators, Postsecondary
Education Administrators, Preschool and Childcare Center/Program
Education Teachers, Postsecondary
Education, Training, and Library Occupations
Educational, Guidance, School, and Vocational Counselors
Electric Motor, Power Tool, and Related Repairers
Electrical and Electronics Drafters
Electrical and Electronics Engineering Technicians
Electrical and Electronics Installers and Repairers, Transportation Equipment
Electrical and Electronics Repairers, Commercial and Industrial Equipment
Electrical and Electronics Repairers, Powerhouse, Substation, and Relay
Electrical Engineers
Electrical Power-Line Installers and Repairers
Electricians
Electro-Mechanical Technicians
Electronics Engineers, Except Computer
Elementary School Teachers, Except Special Education
Elevator Installers and Repairers
Embalmers
Emergency Management Directors
Engineering Technicians, Except Drafters, All Other
English Language and Literature Teachers, Postsecondary
Environmental Engineering Technicians
Environmental Engineers
Environmental Science and Protection Technicians, Including Health
Environmental Science Teachers, Postsecondary
Environmental Scientists and Specialists, Including Health
Epidemiologists
Executive Secretaries and Executive Administrative Assistants
Exercise Physiologists
Explosives Workers, Ordnance Handling Experts, and Blasters
Extruding, Forming, Pressing, and Compacting Machine Setters, Operators, and Tenders
Farm and Home Management Advisors
Film and Video Editors
Financial Analysts
Financial Clerks, All Other
Financial Examiners
Financial Managers
Financial Specialists, All Other
Fire Inspectors and Investigators
Firefighters
First-Line Supervisors of Construction Trades and Extraction Workers
First-Line Supervisors of Correctional Officers
First-Line Supervisors of Farming, Fishing, and Forestry Workers
First-Line Supervisors of Fire Fighting and Prevention Workers
First-Line Supervisors of Helpers, Laborers, and Material Movers, Hand
First-Line Supervisors of Landscaping, Lawn Service, and Groundskeeping Workers
First-Line Supervisors of Mechanics, Installers, and Repairers
First-Line Supervisors of Non-Retail Sales Workers
First-Line Supervisors of Office and Administrative Support Workers
First-Line Supervisors of Police and Detectives
First-Line Supervisors of Production and Operating Workers
First-Line Supervisors of Protective Service Workers, All Other
First-Line Supervisors of Transportation and Material-Moving Machine and Vehicle Operators
Fish and Game Wardens
Food Service Managers
Foreign Language and Literature Teachers, Postsecondary
Forensic Science Technicians
Forest and Conservation Technicians
Foresters
Forestry and Conservation Science Teachers, Postsecondary
Fundraisers
Funeral Service Managers
Gaming Supervisors
Gas Compressor and Gas Pumping Station Operators
Gas Plant Operators
General and Operations Managers
Geography Teachers, Postsecondary
Geological and Petroleum Technicians
Geoscientists, Except Hydrologists and Geographers
Health and Safety Engineers, Except Mining Safety Engineers and Inspectors
Health Diagnosing and Treating Practitioners, All Other
Health Educators
Health Specialties Teachers, Postsecondary
Health Technologists and Technicians, All Other
Healthcare Practitioners and Technical Occupations
Healthcare Social Workers
Hearing Aid Specialists
Historians
History Teachers, Postsecondary
Hoist and Winch Operators
Home Economics Teachers, Postsecondary
Human Resources Managers
Human Resources Specialists
Industrial Engineering Technicians
Industrial Engineers
Industrial Machinery Mechanics
Industrial Production Managers
Information and Record Clerks, All Other
Information Security Analysts
Installation, Maintenance, and Repair Occupations
Instructional Coordinators
Insurance Appraisers, Auto Damage
Insurance Sales Agents
Insurance Underwriters
Interior Designers
Judges, Magistrate Judges, and Magistrates
Kindergarten Teachers, Except Special Education
Labor Relations Specialists
Landscape Architects
Lawyers
Layout Workers, Metal and Plastic
Legal Occupations
Legal Support Workers, All Other
Librarians
Library Science Teachers, Postsecondary
Life Scientists, All Other
Life, Physical, and Social Science Occupations
Loading Machine Operators, Underground Mining
Loan Officers
Locomotive Engineers
Logging Workers, All Other
Logisticians
Magnetic Resonance Imaging Technologists
Management Analysts
Managers, All Other
Marine Engineers and Naval Architects
Market Research Analysts and Marketing Specialists
Marketing Managers
Marriage and Family Therapists
Materials Engineers
Mathematical Science Teachers, Postsecondary
Mechanical Drafters
Mechanical Engineering Technicians
Mechanical Engineers
Media and Communication Equipment Workers, All Other
Medical and Clinical Laboratory Technologists
Medical and Health Services Managers
Medical Equipment Repairers
Meeting, Convention, and Event Planners
Mental Health Counselors
Metal-Refining Furnace Operators and Tenders
Middle School Teachers, Except Special and Career/Technical Education
Millwrights
Mine Cutting and Channeling Machine Operators
Mine Shuttle Car Operators
Mining and Geological Engineers, Including Mining Safety Engineers
Mining Machine Operators, All Other
Mixing and Blending Machine Setters, Operators, and Tenders
Mobile Heavy Equipment Mechanics, Except Engines
Model Makers, Metal and Plastic
Morticians, Undertakers, and Funeral Directors
Multimedia Artists and Animators
Music Directors and Composers
Natural Sciences Managers
Network and Computer Systems Administrators
Nuclear Engineers
Nuclear Medicine Technologists
Nuclear Technicians
Nurse Practitioners
Nursing Instructors and Teachers, Postsecondary
Occupational Health and Safety Specialists
Occupational Health and Safety Technicians
Occupational Therapists
Occupational Therapy Assistants
Operations Research Analysts
Optometrists
Orthotists and Prosthetists
Painters, Transportation Equipment
Paper Goods Machine Setters, Operators, and Tenders
Paralegals and Legal Assistants
Patternmakers, Metal and Plastic
Personal Financial Advisors
Petroleum Pump System Operators, Refinery Operators, and Gaugers
Pharmacists
Philosophy and Religion Teachers, Postsecondary
Physical Therapist Assistants
Physical Therapists
Physician Assistants
Physicists
Physics Teachers, Postsecondary
Plant and System Operators, All Other
Plumbers, Pipefitters, and Steamfitters
Podiatrists
Police and Sheriff’s Patrol Officers
Political Science Teachers, Postsecondary
Postal Service Clerks
Postal Service Mail Carriers
Postal Service Mail Sorters, Processors, and Processing Machine Operators
Postmasters and Mail Superintendents
Power Distributors and Dispatchers
Power Plant Operators
Precision Instrument and Equipment Repairers, All Other
Private Detectives and Investigators
Probation Officers and Correctional Treatment Specialists
Producers and Directors
Production, Planning, and Expediting Clerks
Property, Real Estate, and Community Association Managers
Psychologists, All Other
Psychology Teachers, Postsecondary
Public Relations and Fundraising Managers
Public Relations Specialists
Pump Operators, Except Wellhead Pumpers
Purchasing Agents, Except Wholesale, Retail, and Farm Products
Purchasing Managers
Radiation Therapists
Radio, Cellular, and Tower Equipment Installers and Repairers
Radiologic Technologists
Rail Yard Engineers, Dinkey Operators, and Hostlers
Railroad Conductors and Yardmasters
Rail-Track Laying and Maintenance Equipment Operators
Real Estate Brokers
Real Estate Sales Agents
Recreation and Fitness Studies Teachers, Postsecondary
Recreational Vehicle Service Technicians
Refractory Materials Repairers, Except Brickmasons
Registered Nurses
Reinforcing Iron and Rebar Workers
Respiratory Therapists
Rolling Machine Setters, Operators, and Tenders, Metal and Plastic
Roof Bolters, Mining
Rotary Drill Operators, Oil and Gas
Sales Engineers
Sales Managers
Sales Representatives, Services, All Other
Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products
Sales Representatives, Wholesale and Manufacturing, Technical and Scientific Products
Secondary School Teachers, Except Special and Career/Technical Education
Securities, Commodities, and Financial Services Sales Agents
Service Unit Operators, Oil, Gas, and Mining
Set and Exhibit Designers
Ship Engineers
Signal and Track Switch Repairers
Social and Community Service Managers
Social Scientists and Related Workers, All Other
Social Work Teachers, Postsecondary
Social Workers, All Other
Sociology Teachers, Postsecondary
Software Developers, Applications
Software Developers, Systems Software
Soil and Plant Scientists
Sound Engineering Technicians
Special Education Teachers, All Other
Special Education Teachers, Kindergarten and Elementary School
Special Education Teachers, Middle School
Special Education Teachers, Secondary School
Speech-Language Pathologists
Stationary Engineers and Boiler Operators
Statisticians
Surveyors
Tank Car, Truck, and Ship Loaders
Tax Examiners and Collectors, and Revenue Agents
Technical Writers
Telecommunications Equipment Installers and Repairers, Except Line Installers
Tire Builders
Tool and Die Makers
Training and Development Managers
Training and Development Specialists
Transportation Inspectors
Transportation, Storage, and Distribution Managers
Urban and Regional Planners
Veterinarians
Water and Wastewater Treatment Plant and System Operators
Web Developers
Wholesale and Retail Buyers, Except Farm Products
Writers and Authors
Zoologists and Wildlife Biologists
Salary
63.910
84.190
117.110
94.450
43.500
75.710
46.100
59.800
104.730
77.690
44.470
43.470
92.010
94.030
44.890
42.410
52.740
98.480
43.970
50.150
56.700
75.440
46.470
79.910
79.040
60.560
76.280
57.210
42.330
84.390
92.630
53.830
56.440
85.810
55.870
84.830
43.690
73.650
66.890
77.280
78.240
63.490
41.910
69.080
44.690
53.190
source: http://www.bls.gov/
53.480
45.610
54.170
45.090
92.420
52.430
52.710
43.370
71.100
70.740
40.580
80.690
71.890
58.870
85.800
48.260
48.120
83.940
40.600
64.250
41.400
42.490
87.210
56.600
62.600
103.900
119.170
73.780
99.980
88.400
55.990
83.170
80.490
91.360
79.200
45.150
71.400
49.630
89.680
42.760
41.050
40.400
56.980
43.910
50.290
43.360
57.230
48.470
70.120
46.530
44.610
57.820
47.760
46.720
41.590
48.090
96.290
104.280
46.760
81.870
77.880
95.040
61.290
57.390
45.000
50.820
41.380
61.360
56.160
52.450
52.650
63.870
91.040
59.730
43.200
49.150
100.310
48.970
67.930
46.100
67.970
62.320
52.330
48.520
69.970
42.510
78.700
58.640
59.130
52.530
43.150
49.580
41.190
49.430
43.940
93.970
42.830
78.040
116.110
67.910
47.100
40.590
55.990
53.470
46.170
57.160
44.310
40.300
59.010
74.600
49.740
62.800
55.630
44.570
52.950
46.110
59.820
55.340
41.700
43.210
56.020
90.080
51.930
53.210
43.260
56.220
61.780
119.850
67.430
58.700
71.260
88.670
56.990
44.920
108.160
43.140
63.080
44.080
42.170
62.210
56.050
54.330
71.420
93.630
58.160
57.510
81.330
48.790
93.500
41.230
78.810
42.340
65.060
75.530
54.050
52.330
46.540
58.140
47.990
50.100
72.760
106.790
47.290
81.140
51.570
52.340
60.360
55.510
58.420
41.270
67.070
55.900
41.940
81.280
55.430
90.310
94.950
57.230
58.340
111.320
43.780
95.030
62.740
52.840
51.900
83.370
66.370
52.900
93.750
44.240
45.020
42.720
44.330
48.830
43.300
46.410
53.150
81.970
45.660
40.740
43.340
41.780
40.170
57.700
48.190
113.650
68.990
110.620
55.820
59.630
88.320
66.660
66.150
49.620
73.260
55.190
87.680
96.210
62.630
41.180
41.360
45.510
40.310
101.700
54.140
119.020
61.760
53.710
83.460
88.680
108.740
78.630
67.440
40.170
112.230
41.040
66.490
45.400
49.350
48.360
68.750
70.530
60.720
46.990
57.620
43.000
50.920
46.020
67.390
86.080
68.910
89.080
47.070
41.850
63.950
104.300
68.470
45.510
45.460
49.580
52.200
46.320
70.520
56.600
61.300
42.230
47.440
55.870
40.590
46.200
41.290
54.150
41.470
99.260
111.910
48.230
63.400
79.450
50.170
82.560
48.010
54.620
69.300
52.340
61.440
80.010
67.040
60.040
59.760
91.070
96.290
60.470
41.870
55.310
50.810
52.200
52.390
65.140
46.730
58.210
51.410
48.810
53.860
59.590
50.940
42.500
46.750
87.630
57.180
65.650
86.090
58.590
79.820
42.750
50.610
55.700
54.250
59.000
Name:______________________________________
Module 5 Homework Assignment
The paired data below consists of test scores and hours of preparation for 5 randomly selected
students. Use this data set to answer the questions below:
x Hours of preparation 5 2 9 6 10
y Test score
64 48 72 73 80
1. Use the given data to find the correlation coefficient r, regression equation and scatter plot in MS
Excel.
Solution:
Instructor Comments:
2. Based on the linear correlation coefficient r, is this a good model? Explain.
Solution:
Instructor Comments:
3. What is the best predicted test score for a student who spent 7 hours preparing for the test?
Solution:
Instructor Comments:
4. Find the standard error se . Use formula or MS Excel.
Solution:
Instructor Comments:
5. Find the 99% prediction interval for the test score of a person who spent 7 hours preparing for the
test.
Solution:
Instructor Comments:
6. Find the explained variation.
Solution:
Instructor Comments:
7. Find the unexplained variation.
Solution:
Instructor Comments:
8. Find the total variation.
Solution:
Instructor Comments:
9. Find the value of r2 and explain its meaning.
Solution:
Instructor Comments:
10. If the data point ( 3, 100) is added to the data set, how would this effect the results of the regression
analysis? Is this data point an outlier, influential point or both? Explain.
Solution:
Instructor Comments:
G310 Advanced Analytics and Statistics – Course Project Option 1
Introduction:
As a professional in the real world, you will need to research and understand various aspects of Business
applications. Basic statistical analysis can be used to gain an understanding of current problems. This
course project will assist you in applying basic statistical principles to a fictional scenario in order to
impact the clients being served.
This assignment will be completed in phases throughout the quarter. As you gain additional knowledge
through the didactic portion of this course, you will be able to apply your new knowledge to this project.
You will receive formative feedback from your instructor on each submission. The final project will be
due on week 10 and the assignment requirements are listed below.
Scenario:
A major client of your company is interested in the salary distributions of jobs in the state of Minnesota
that range from $40,000 to $120,000 per year. As a Business Analyst your boss asks you to research and
analyze the salary distributions. You are given a spreadsheet that contains the following information:


A listing of the jobs by title
The salary (in dollars) for each job
The client needs the preliminary findings by the end of the day. So let’s get to work!!!!
Background information on the Data:
The data set consists of 364 records that you will be analyzing from the Bureau of Labor Statistics. The
data set contains a listing of several jobs titles with yearly salaries ranging from approximately $40,000
to $120,000 for the state of Minnesota.

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