Case Problem #2 Unemployment Study
See this link for the general problem. Make sure to use the attached data set, not the one in the book.
I just need basic answers and the data computed. I will write the report:
Answer the questions 1-4 (found on web link #1-4 under Managerial Report) in an integrative manner (your responses should blend into your written analysis versus just answers to each question):
Us descriptive statistics to summarize the data. Your descriptive statistics should include the following items with a short explanation of what each means:
Develop a 95% confidence interval estimate of the mean age of the unemployed individuals in Philadelphia. Also, what does the interval mean?
Develop a null hypothesis and an alternative hypothesis. Conduct a hypothesis test to determine whether the mean duration of unemployment in Philadelphia is greater than the national mean duration of 14.6 weeks. Use a .01 level of significance. What does the outcome mean?
Is there a relationship between the age of an unemployed individual and the number of weeks of unemployment? Why or why not?
The solution provides step by step method for the calculation of descriptive statistics and testing of hypothesis. Formula for the calculation and Interpretations of the results are also included.