Explain why you made your decision including the results for your p-value method or the critical value method.

In this module you will begin working on Phase 2 of your course project. Using the same data set and variables for your selected topic, add the following information to your analysis:

1. Discuss 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?

2. 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, the population standard deviation, 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.

3. 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, the population standard deviation, 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.

4. 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.

 

 

 

 

 

 

 

 

In this module you will begin working on Phase 3 of your course project. Using the same data set and variables for your selected topic, add the following information to your analysis:

1. 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?

2. 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, the population standard deviation, is unknown.

· If you selected Option 2:

· Original Claim: The average age of all patients admitted to the hospital with infectious diseases is less than 65 years of age.

· Test the claim using α = 0.05 and assume your data is normally distributed and σ, the population standard deviation, is unknown.

· Based on your selected topic, answer the following:

3. Write the null and alternative hypothesis symbolically and identify which hypothesis is the claim.

3. Is the test two-tailed, left-tailed, or right-tailed? Explain.

3. Which test statistic will you use for your hypothesis test; z-test or t-test? Explain.

3. What is the value of the test-statistic? What is the P-value?

3. What is the critical value?

3. What is your decision; reject the null or do not reject the null?

3. Explain why you made your decision including the results for your p-value method or the critical value method.

3. State the final conclusion in non-technical terms.

Please show your work for the construction of the test-statistic and explain your process for finding the p-value and critical value. Be sure to use the Equation Editor to format your equations.

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