WK 3 Which Major, Business or Engineering, Will Give the Better ROI? Project
Project Week 3
For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadheet. Download it here.
Central question: Which major, business or engineering, will give the better ROI?
Using the ROI data set:
- According to the textbook, what are the characteristics of a binomial experiment? Explain how the following scenario fits EACH of the requirements for a binomial experiment. Scenario: We randomly select 7 colleges from the business major and then record whether they are of ‘School Type’ ‘Private’ or not.
- In a perfect normal distribution, if the mean is 23, what is the median? What is the mode?
- For each of the 2 majors determine if the ‘Annual % ROI’ appears to be normally distributed. Use a histogram and the measures of central tendency (mean and median) to justify your results. #2 above is a big hint for how to justify whether the Annual ROI is normally distributed.
- In a highlighted box, explain how having or not having a normal distribution for each of the majors may affect your ability to compare the data of the two majors. In a normal distribution, what percent of values falls 1 standard deviation from the mean? Two standard deviations from the mean? Three standard deviations from the mean? How does this relate to the central question?
Grading Criteria Assignments | Maximum Points |
Meets or exceeds established assignment criteria | 40 |
Demonstrates an understanding of lesson concepts | 20 |
Clearly presents well-reasoned ideas and concepts | 30 |
Uses proper mechanics, punctuation, sentence structure, and spelling | 10 |
Total | 100 |