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    Statistical inference

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    Nuwest Inc. is an investment service established in 1990 with the goal of becoming
    the leading money market advisory service in the city. To provide better service for their
    present clients and to attract new clients, they have developed a weekly newsletter. They
    have been considering adding a new feature to the newsletter that will report the results
    of a weekly telephone survey of fund managers. To investigate the feasibility of offering
    this service, and to determine what type of information to include in the newsletter,
    Nuwest's research office initiated a study and selected a simple random sample of 45
    money market funds. The data set, consisting of Fund Assets (millions $), 7-day yields
    (%), and 30-day yields (%), is given in Excel format as Nuwest Investment. Before
    calling the money market fund managers to obtain additional data, the researchers
    decided to do some preliminary analysis of the data already collected.
    Managerial Report
    Use appropriate descriptive statistics to summarize the data on assets and yields for the
    money market funds.
    Develop a 95% confidence interval estimate of the mean assets, mean 7-day yield, and
    mean 30-day yield for the population of money market funds. Provide a managerial
    interpretation of each interval estimate.
    Discuss the implications of your findings in terms of how Nuwest Inc. could use this
    type of information in preparing the weekly newsletter.

    We have been learning
    t test, z test, estimates, hypothesis testing, and inference between 2 pops.

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