😇 FOR THIS ASSIGNMENT THERE ARE GOING TO BE INSTRUCTOR COMMENTS BELOW TO MAKE THE ASSIGNMENT EASIER😇

Using the ROI data set:

  1. For each of the 2 majors calculate the mean, median, minimum, maximum, range, and standard deviation for the columns ‘Cost’ and ’30-Year ROI’.
  2. By hand or with Excel, for each of the 2 majors calculate the probability that a college picked from the column for ‘School Type’ is ‘Private’.
  3. By hand or with Excel, for each of the 2 majors find the probability that a college with the ‘School Type’ ‘Private’ has a ’30-Year ROI’ between $1,500,000 and $1,800,000.

Project 2 Instructor Comments:

Students tend to make this assignment a real pain to grade by scattering the answers all over the page—or not removing other statistics, if the answers are gotten by using Excel Descriptive Statistics. Help by only including the required answers, numbering the problems, and doing each answer in order.

1. Make a column for the 6 variables; then do two columns for Business Major—one for Cost and one for 30 Year ROI; next to that put 2 columns for Engineering Major.

2. There are two answers needed here—one for business and one for engineering. Pull out the private numbers for each major and then divide each by the total observed in each major—answers should be a percent. Put business first and engineering second.

3. Again, two answers are required. Just look at the private data for each major. Add up the schools with 30 Year ROI between $1.5 M and $1.8 M; then divide that number by the total private schools in each category—answers should be a percent. Put business first and engineering second.

 
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