Sampling Excel Analysis Of Eight Of The Financial Application Project

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Register to read the introduction… Thus, the proportion of times exceeding 12 seconds is 45% or 0.45.

QUESTION 3: I would use the sampling Excel technique to randomly sample eight of the financial application projects. I would randomly sample four from the current package and four for the new package. Rather than selecting from the ‘time taken’ column, I would select from the ‘package’ so that we would not be confused of which package received which time. That
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For the current package, the package selected from excel are packages 5, 16, 4 and 8. For the new package, the packages generated are packages 6, 17, 14 and 9. If there were any repeat of the packages, I would randomize the samples again until I won’t get a duplicate package. However, I was lucky enough not to get duplicate packages.

Question 4: I could show the information for the new package as a summary statistics which is shown in the table below: Statistical Data for Time Taken To Complete Project for New Package Mean | 12.05 | Standard Error | 1.658273 | Median | 10.5 | Mode | 10 | Standard Deviation | 7.416021 | Sample Variance | 54.99737 | Kurtosis | 6.120902 | Skewness | 2.051816 | Range | 33 | Minimum | 4
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Therefore 1-0.84=0.16. The probability that the processing time is greater than 14 is 0.16. B) I would enter two equations in the formula bar to solve this problem. Firstly, the formula bar shows =NORM.DIST(8,10,1,TRUE) which equates to 0.02. Secondly, the formula bar shows =NORM.DIST(11,10,1,TRUE) which equates to 0.84. Therefore, 0.84-0.02=0.82. The probability that the processing time is between 8 and 11 seconds is 0.82. QUESTION 6 The two sets of data would be independent samples. The standard deviations are very different, because 12.83/7.42=1.73, where 1.73 is more than 1.5. t-Test: Two-Sample Assuming Unequal Variances | | Variable 1 | Variable 2 | Mean | 14.9 | 12.05 | Variance | 164.6211 | 54.99737 | Observations | 20 | 20 | Hypothesized Mean Difference | 0 | | df | 30 | | t Stat | 0.860054 | | P(T<=t) one-tail | 0.19829 | | t Critical one-tail | 1.310415 | | P(T<=t) two-tail | 0.396581 |

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