1. Calculating Descriptive Statistics
Paper details:
What is the probability for:
a.) Randomly selecting a person being a male in Grade E?
b.) Given that we picked a random person and he was a male, what is the probability of being in grade E?
c.) Why the results different?
2. Consider each group (Male and Female separately) and assume the salaries follow a Normal Probability distribution:
a.) What is the top 75th percentile of salary for Males?
b.) What is the top 75th percentile of salary for Females?
c.) What is the probability that a male picked at random makes more than 50K?
d.) What is the probability that a female picked at random makes between 30K and 40K?
2. W3 – Constructing Confidence Intervals
Paper details:
The file contains the weight in pounds from a sample of 368 pallets of Boston shingles and 330 pallets of Vermont shingles. For the Boston shingles, construct a 95% confidence interval for the mean weight. For the Vermont shingles, construct a 95% confidence interval estimate for the mean weight. Do you think the assumptions needed to construct the confidence interval estimates in 1 and 2 are valid? Based on the results of 1 and 2, what conclusions can you reach concerning the mean weight of the Boston and Vermont Shingles? Refer to the Excel file InsuranceClaims for the assignment below: The files contains data for 90 randomly selected auto injury claims. Construct a 95% confidence interval for the population proportion of all auto injury files that have exaggerated loss amounts. Construct a 95% confidence interval for the population mean dollar excess payment amount.
