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Homework Assignment 2

  • From Mathematics, Statistics
  • Due on 08 Dec, 2019 04:46:00
  • Asked On 06 Dec, 2019 03:47:40
  • Due date has already passed, but you can still post solutions.
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Milestone 2 is due during Module Six. For this milestone, you will submit your plan of analysis, (establish statistical task, appropriate statistical tools and method for data analysis) and data analysis outcomes.

You will need to provide justification for the appropriate statistical methods and or tools needed to analyze the company’s data, a hypothesis, the results of your analysis to address the company’s problem.

Problem Statement

We want to examine the relationship between the employees salary to the years of education in which they have completed. We will also show if the years of education is more valuable than the years of experience or vice versa.

 Specifically, the following critical elements must be addressed:

  1. Determine your plan of analysis in addressing the problem
     
  2. Identify statistical methods and tools that are appropriate for your data analysis. Explain why you select each method and/or tool.  
     
  3. Analyze data to determine the appropriate decision for the identified problem (final report case scenario salary data):
    --- Outline the process for each data analysis
    --- Analyze the data
    --- Provide your statistical conclusions. Make sure you provide statistical evidences to support your conclusions.
    --- Provide managerial conclusions based on your statistical conclusions.
     
  4. Suggest appropriate data driven decision that addresses the given problem. Explain how effective your decision can address the given problem.
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[Solved] Homework Assignment 2 solution

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  • Submitted On 06 Dec, 2019 11:00:15
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1 $65,487 0 27 1 4 44 2 Salary 12 $39,331 1 4 0.079135191 $39,331 Sample size of 15 t* ϭ 2 $46,184 3 20 0 4 1 6 22 $34,632 0 4 0.093340834 $34,632 µ= x̄ ±────── 3 $32,782 1 0 0 1 0 5 Mean 39827.3913 5 $34,869 1 4 0.126441348 $34,869 Mean 40180.66667 √n 4 $54,899 5 12 1 4 0 6 Standard Error 1621.750024 28 $51,698 0 4 0.140796402 $51,698 Standard Error 2915.589382 n= 15 µ= 39,827 5 $34,869 5 7 1 4 1 7 Median 36541.5 7 $26,548 0 4 0.14545252...
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