Three 5-Step Hypothesis Tests
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1.Choose any published database from either the Census Bureau, the Bureau of Labor Statistics, Federal Statistics, Yahoo! Sports, or any major Web site containing government data, college or professional sports data, or financial data on publicly traded companies. Be sure to cite the source of your data in your course project and either include the data in your appendix or include the link to the specific file. If you choose to use a database that does not meet the stated criteria, please send the file and/or link to your instructor for approval prior to beginning the data analysis project. Note that your chosen file must have several variables in order to allow you to conduct the required analysis stated below.
2. If the chosen file is large, you may randomly choose 100 of the observations from the data (but specify how you chose the data in your project).
3. Explain each variable in the file that you are analyzing.
4. Conduct a descriptive analysis on any two interval/ratio variables you wish using the Descriptive_Statistics.xls and the Frequency_Distribution.xls. file. Explain the output.
5. Conduct three different hypothesis tests of your choice using appropriate variables from the file (Note: You must use three different tests; not run one test on three different variables). In each case, state the variables being tested as well as the hypothesis, decision, and conclusion.
6. Develop a model to predict an interval/ratio variable using at least two other variables. Use the Multiple Regression document and state the regression model and which variables are or are not significant. Also, use the model to make a prediction by making up values for each of the independent variables.
7.Write a 1-2 page summary of your findings. Include the data file in the appendix.
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Solution Summary
The solution provides step-by-step method of performing three hypothesis tests: t-test, z-test and Correlation Hypothesis Test. All the steps of hypothesis testing (formulation of null and alternate hypotheses, selection of significance level, choosing the appropriate test-statistic, decision rule, calculation of test-statistic and conclusion) have been explained in details. Regression Analysis (Correlation Coefficient, Coefficient of Determination, Covariance, Regression Equation etc.) have been performed in EXCEL. All the steps involved in Correlation Hypothesis Test have been performed and explained in details. The EXCEL attachment also contains graphical representation of the given data in the form of Histograms and Scatter Plots.
Education
- MSc, Osmania University
- MSc, Indian Institute of Technology - Roorkee (I.I.T.-ROORKEE)
- BSc, Banaras Hindu University
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