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:

1. 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.
2. In a perfect normal distribution, if the mean is 23, what is the median? What is the mode?
3. 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.
4. 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