Reference no: EM13913914
To DO: Use the following data on the AL(American League) and NL (American League) CATCHER Salaries and TEAM Salaries to answer the following questions. The information is on the following sheet will be available to you in electronic form.
1. Find the mean, standard deviation, variance, median and the range for all the CATCHER salaries and the TEAM salaries. (Put your answers in currency format.)
2. On the Worksheet (2nd tab on the bottom) I have separated the teams into their divisions, AL and NL. You need to randomly select 10 teams from each group, thus having 20 catchers from each division (you may use the Excel function =randbetween(range) if you wish - every student should have a different sample set.) List this data in Sheet 3. Label the tab SAMPLE.
Now using your sample data and not the full data:
Note: Statdisk may put your numbers in scientific notation so remember to convert them to regular notation. Example: 1.2354693+6 = 1234469.3
3. Find the mean and standard deviation, for your sample of 40 CATCHER salaries and the corresponding 20 TEAM salaries. (Realize there are only 20 different teams here so make sure you delete one of the team salaries.) (Put your answers in currency format.)
4. Calculate what the "likely or usual" range of salaries you would expect using the mean and standard deviation that you found in question #1. (Again, put your answers in currency format.)
5. Looking at your answer in #4,
a. Are there any CATCHER salaries in your sample that fall outside that likely range? If so, list the catcher's name along with his salary.
b. Are there any CATCHER salaries from the full data that fall outside your likely range? If so, list them.
6. Construct a 95% confidence interval for the CATCHER salaries using your sample.Explain what this confidence interval is telling you. (Put your answers in currency format and non-scientific.)
7. Graph the CATCHER salaries with the name of the CATCHERs along the x-axis and the salaries along the y-axis. Use Chart Wizard in Excel.
8. Graph the CATCHER salaries along with the TEAM salaries. Use Chart Wizard.
9. a. Calculate the correlation coefficient r for the CATCHER and TEAM salaries. (Let x=CATCHER salaries and y=TEAM salaries.)
b. Is there significant linear correlation between the CATCHER and TEAM salaries? Why or why not?Explain! (Show the CV's along with the r value and the p-value.) You will need to useStatdiskto calculate the r value, critical and p-values.
c. If there is linear correlation, find the regression equation: y=B0+B1x.
d. If there is no linear correlation, what will be used to make a prediction?
10. Make a prediction: If you were a CATCHER with a salary of $6.5 million, what would you expect your team's total salary to be based upon question #9.
11. Test the claim that the ALCATCHERs' mean salary is the same as the NL CATCHERs'. Let α=0.05. (In Statdisk copy the AL salaries in one column and the NL salaries in another column.) Make sure to state the following:
a. Claim & Hypothesis
b. Statdisk Information
c. Conclusions.
12. Now look at ALL of the CATCHER Salaries and the Team Salaries - the original set of data. Do the two salaries seem to come from a Normal Distribution? (Use Statdisk or Excel to create a histogram on each set and then you can answer the question by reviewing the graphs. Explain your conclusion,)
Attachment:- Data.rar