THis is a masters level stastics class. Need ehlp with data analysis. Not sure I understand what is being asked. This is a subject I am not strong in.
The data that you will be using for this exercise came from a survey of two insurance carriers.
The first carrier (C1) was compared against the second competitor (C2). The insurance company management team
wants to know how Carrier 1 compared to the second carrier. Data from 159 respondents are included.
All of the 5 questions are rated on a scale of 1 to 5, with 1 being "much worse" and 5 being "much better"
1. Graph the 5 main survey variables in a histogram. On each of the graphs, show the grouped data for C1 compared to C2.
-For each graph you are going to graph out the data values, grouped by responses. You should have categories that are the responses 1-5.
-Your output should contain 5 histograms, and on each, display both the C1 and C2 data on the same graph.
What can you see from these graphs?
2. Create 95% confidence intervals for the mean for the 5 survey variables on Carrier 1.
3. Perform a t-test comparing each of the 5 variables for C1 to C2.
-For each question, state the null and alternative hypothesis that you will use for the test.
-Run the 5 t-tests and for each state whether or not it is significant
Note: You will only get 2 points for this part if you only include the analysis from the data. Even if everything is completely correct - interpretation is key here.
4. Interpret the data and write an brief (2 paragraph) executive summary to C1 management describing your findings.
-Remember that they are not statisticians and probably don't understand what a confidence interval is. Use plain English for your explanation.
The questions are on the first tab in excel and the data is on the second tab.
The solution provides step by step method for the calculation of test statistic and confidence interval for population mean. Also this solution gives the step by step method for constructing histogram. Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included. The user can edit the inputs and obtain the complete results for a new set of data.