METH 201, Statistics Key Quiet 20 November 2014 | COPY E ‘TO RECEIVE CREDIT, PLEASE SHOW ALL RELEVANT WORK in the spaces provided Unless instructed otherwise, please round ALL continuing decimal values to AT LEAST THREE places Please ERASE (or strike through) anything you write that you think is INCORRECT; you will LOSE, CREDIT for leaving incorrect statements on the quiz Please provide the information requested below (ALL information is REQUIRED): Last Name (pri) First Name (prin) Honor Code Signature: Section (or example, BA) wish you well! ‘You are a banking industry consultant, Dee Mote, Vice President [VP] for Human Resources at Fouth National Bank of Bloomington, has hired you to analyze characteristics of bank employees. VP Mote provided data for a ‘uous simple oF 208 bank employees from 2010, Several questions on this quiz are based on the datafile. Key variables in the datafile include: 1, EMPLOYEE: Employee identification number 2, EDUC _LEVEL: Variable indicating whether employee finished high school 2); eared a bachelor’s degree (= 3); finished some graduate courses. 3) 3,JOB_GRADE: Variable indicating employee's cureat ob level coded from 1 10 6, with I the lowest ob level and 6 the highest ob level 4. YR_HIRED: Year employee was hired by Fourth National Bank 5. ¥RS_EXPER: Employees years of work experience at Fourth National Bank; equals 2010—YR_HIRED 6. YR_BORN: Year employee was bom 1.AGE: Employee's age in years; equls 2010~YR_BORN 8. YRS_PRIOR: Employee's years of work experience at other banks prior to working at Fourth National Bank 9. SEX: Variable indicating employee's sex; coded “Female” or “Male” 10.PC_JOB: Variable indicating whether employee's current job is computer-related; coded “No” or “Yes" 11, SALARY: Employee's 2010 annual selary in dollars ($) 12. SAL_CATEGORY: Variable indicating whether employee's 2010 annual salary was “Low” (SALARY < '$60,000), Medium’ ($60,000 < SALARY « $79,999), or “High” (SALARY > $80,000) finished some college ); or eamed a graduate1. Please place the SYMBOL/LABEL, from the course packet, we will use to represent each statistical idea below ‘nthe associated line (1 point each) STATISTICAL IDEA tes sits, two Means, Doendnt Samples 1 Sample Conciation Coetcen Sp Poste Sample Variance, Pwo Mess Independent Samples, Assining Equal Varnes AL Population Mean Gp standart orf the Proportion 2c. Fora test of hypotheses involving one mean, population standard devistion unknown, what happens to the likelihood of rejecting the nul hypotiesis fo each actionchange below, holding all other ideas/terms constant (please CIRCLE the appropriate response in each case; 2 points each)? ACTION/CHANGE LIKELIHOOD of REJECTING Ha i. deck level of significance DOESNOT CHANGE INCREASES i inreaze sample ize DECREASES DOESNOT CHANGE ili decrease sample standard deviation. DECREASES“ DOESNOT CHANGE INCREASES) iv. increas level oF confidence G@ECREASES) —DOESNOTCHANGE —_INCREASES exceods| ployees are in the sample and the calculated value of the associated test statistic equals 3e. You conduct test to determine whether the proportion ofall employces at Fourth National Bank who are male Bois 8) eee (please leav¢ the value asa fraction), how many employees inthe sumple are male? (SHOW ALL. RELEVANT WORK for CREDIT; 6 points) P= _ 156 3-0 Zeale ee . sol 98 tata) fn 4.96 + 23.04 =f a=, it answer, 2 Braves‘4e. Based on the joint frequency distribution below, which shows the number of bank employees in the sample by the variables SEX and JOB. GRADE, you test whether the proportion ofl bask employees Who ae both female sn 08 GRADE yor 020 005 oe ter Ha JOB_GRADE, SEX 1 2 3 4 3 6 Female a 2 36 fa 9 T Male 2 13 7 i 2 B 1. State the null and alternative hypotheses associated with the test (2 points) Hy: TTe,4 = 0.30 ny Wes # 0.3 b Ifthe calculated value forthe associated test statistic equals approximately ~2.18, determine thep-VALUE for the test, (SHOW ALL WORK for CREDIT; 4 points) p-VALUE = 2x Pr(Z>| Zealel) sax W(Z> a8) = ax{os-PoeZea.i8)) ax [0.5- 0.4954] = ax0.0146 021A ANSWER: _0, 0292 «Given your answer in Part b, can you conclude the pro} JOB_GRADE | differs from 0.30? of all bank employees who are both female and in NO ees) (please CIRCLE one; 2 point) > p-VALUE => RETECT HyONE TAIL, Se. VP Mote then asks you to test whether the mean ys ‘experience at other banks prior to working at Fourth National Bank [YRS_PRIOR] is significant the mean years of work experience at Fourth National Bank [YRS_EXPER] forall bnk employee You return to your CWS [Consultant Work Station ~ a fancy term fr eubicl] and select a random sample of 36 bank employees from the full Fourth National Bank data file fora detailed analysis. You use MS Excel and the random sample of 36 bank employees to produce the two sets of selected output (A and B)below: DEPENDENT SAMPLES ~SAME (26) EmpLovees TIN EACH Sam? ouTPUT A. ourpuTB ‘WTest: Paired Two Sample for Means ‘Test: Two-Sample Assuming Equal Variances YRS_PRIOR VAS_OPER ‘YAS PRIOR VRS OPER ‘Mean 16 7.9 Mean 16 79) Variance ‘43302374500 Variance 41302, 37.4500 Observations 36, 36 Observations 36, 35 Pearson Correlation “03312 Pooled Variance: 20.7801) Hypothesized Mean Difference ° Hypothesized Mean Difference 0) af 35 at 70 1. Given the tet, which set of output should you use?” PAIRED = DEPENDENT et) carseat aneratils iy b fe1= 0.08 andthe sproprnte sot of opt inched hero critical ves forthe asad test statistic below, please note which value you would se to conduct the est ONE TAL tong CLOSER TO ZERO Cie ° way «If the calculated value for the associated test statistic equaled 5.3602, can you conclude the mean years of work ‘experience at other banks prior to working at Fourth National Bank [YRS_PRIOR] is significantly less than the ‘mean years of work experience at Fourth National Bank [YRS_ EXPER] for all bank employees? No. Cas) (please CIRCLE one; 2 points) Itealel > tent] Reect HpGe. The following correlation matrix shows the bivariate correlations between numerous quantitative variables in the full Fourth National Bank datafile: n=208 VAS PRIOR SALARY | __AGE _YRS_EXPER YAS, PRIOR T SALARY “0063 1 AGE 0133 0.384 a ‘yas EXPER “os 0616 0.684 a Use the correlation matrix to answer/complete Pars a through e belaw (2 points each) poses ue a. On averag ser ‘employees eam ) (please: ‘one) annual salaries than. on ve Solngbrk employes eam (TOWER) HIGHER pee CIRCLE on) na sci ole uk enon ees 20,563 ites ’, On average, bank eniployees with ewer years of prior work experience have LOWER (fHIGHER) (please CIRCLE one) annvel salaries than bank employees with more years of prior work experience 0.118 On average, bank pio win higher vans or YRS_EXPER have (TOWER HIGHER (please CIRCLE one) values for YRS_PRIOR than bank employees with lower values for YRS_EXPER. 2068 4 Meconaon ave SALARY SARS PRIORin CEARBD STRONGER (lee CIRLE on) than the correlation between YRS_EXPER and YRS_PRIOR, Oe poset e-Thecoeiationeveen YRS EXPE WA SALARY is GEARED STRONGER (lese CIRCLE one) ‘than the correlation between YRS_EXPER and AGE, 0-684 £. State the null and alterna fe hypotheses associated with te test (2 points): Hy Q=0 He 2 FO 4 Ifthe level of significance equals 0.01, determine the critical value for the associated test statistic (3 points) t wer: 7/— Cry 0.005, d= 208-2206) ANS! 2.6174 USE [20 1. Ifthe calculated value forthe associated test statistic equals approximately ~0,9060, can you conclude the correlation between SALARY and YRS_PRIOR is statistically significant? @) vs (one CREL 2 in) Iteatel € I rept] > FAIL To Resecr He