Needs to Done on Time!!!

profileylang
week3Revised-Copy.xlsx

Q1

Probability of success on a single trial 60%
Number of trials 18
Number of successes (x)
Binomial probability:
1 P(X >=8) 0.8653 =1-BINOMDIST(8,B2,B1,TRUE)
2 P(X = 10) 0.1734 =BINOMDIST(10,B2,B1,FALSE)
3 P(X = 5) 0.0045 =BINOMDIST(5,B2,B1,FALSE)
4 P(X >=15) 0.0082 =1-BINOMDIST(15,B2,B1,TRUE)
5 The expected number of acceptances. 10.8000 =B2*B1
6 the standard deviation 2.0785 =SQRT(C9*(1-B1))

Q2

x = critical value 71
u = mean 80
s = standard deviation 6
Z -1.5 =(C1-C2)/C3
Thus, using a table/technology, the right tailed area of this is  
7 P(z >   -1.5   ) 0.9332 =1-NORMSDIST(C4)
We first get the z score for the two values. As z = (x - u) sqrt(n) / s, then as   
x1 = lower bound 89
x2 = upper bound 92
z1 = lower z score 1.5 =(C9-C2)/C3
z2 = upper z score 2 =(C10-C2)/C3
P(z < z1) 0.9331927987 =NORMSDIST(C11)
P(z < z2) 0.9772498681 =NORMSDIST(C12)
Thus, the area between them, by subtracting these areas, is 
8 P(z1 < z < z2) 0.0441 =C14-C13
Then, using table or technology, 
P 2.50%
9 x = critical value 91.76  [lowest score with merit]
=1.96*C3+C2

Business Major

School Type Cost 30 Year ROI Annual ROI Annual ROI (Business Major) Annual ROI (Engineering Major)
Private $222,700.00 $1,786,000.00 7.70%
Private $176,400.00 $1,758,000.00 8.40% Mean 7.82% 9.15%
Private $212,200.00 $1,714,000.00 7.80% Standard Error 0.25% 0.33%
Public $125,100.00 $1,535,000.00 9.10% Median 7.35% 8.50%
Private $212,700.00 $1,529,000.00 7.40% Mode 7.00% 7.90%
Public $92,910.00 $1,501,000.00 10.10% Standard Deviation 1.10% 1.46%
Private $214,900.00 $1,485,000.00 7.30% Sample Variance 0.01% 0.02%
Private $217,800.00 $1,483,000.00 7.20% Kurtosis 0.2120 -1.3960
Private $225,600.00 $1,444,000.00 7.00% Skewness 1.2333 0.4731
Private $217,300.00 $1,442,000.00 7.10% Range 3.40% 4.20%
Private $226,500.00 $1,441,000.00 7.00% Minimum 6.70% 7.50%
Private $215,500.00 $1,438,000.00 7.20% Maximum 10.10% 11.70%
Private $223,500.00 $1,428,000.00 7.00% Sum 156.40% 182.90%
Private $226,600.00 $1,414,000.00 7.00% Count 20 20
Private $189,300.00 $1,397,000.00 7.50%
Public $89,700.00 $1,382,000.00 9.90% BIN Frequency
Public $87,030.00 $1,376,000.00 10.00% 6.5%-7.5% 6
Private $218,200.00 $1,343,000.00 6.90% 7.5%-8% 6
Private $229,900.00 $1,339,000.00 6.70% 8%-8.5% 2
Private $148,800.00 $1,321,000.00 8.10% 8.5%-9% 2
Best College ROI by Majo 2013: Payscale.com 9%-9.5% 0
9.5%-10% 1
10%-10.5% 2
>10.5% 1

Histogram:Business Major

6.5%-7.5% 7.5%-8% 8%-8.5% 8.5%-9% 9%-9.5% 9.5%-10% 10%-10.5% > 10.5% 6 6 2 2 0 1 2 1

BIN

Frequency

Engineering Major

School Type Cost 30 Year ROI Annual ROI Annual ROI (Engineering Major)
Private $221,700.00 $2,412,000.00 8.70%
Private $213,000.00 $2,064,000.00 8.30% Mean 9.15%
Private $230,100.00 $1,949,000.00 7.90% Standard Error 0.33%
Private $222,600.00 $1,947,000.00 8.00% Median 8.50%
Private $225,800.00 $1,938,000.00 8.00% Mode 7.90%
Public $87,660.00 $1,937,000.00 11.20% Standard Deviation 1.46%
Private $224,900.00 $1,915,000.00 7.90% Sample Variance 0.02%
Private $221,600.00 $1,878,000.00 7.90% Kurtosis -139.60%
Public $125,100.00 $1,854,000.00 9.80% Skewness 47.31%
Private $215,700.00 $1,794,000.00 7.90% Range 4.20%
Public $92,530.00 $1,761,000.00 10.60% Minimum 7.50%
Private $217,800.00 $1,752,000.00 7.70% Maximum 11.70%
Public $89,700.00 $1,727,000.00 10.70% Sum 182.90%
Private $229,600.00 $1,716,000.00 7.50% Count 20
Public $101,500.00 $1,703,000.00 10.20%
Public $115,500.00 $1,694,000.00 9.70%
Public $104,500.00 $1,690,000.00 10.10% Engineering Major
Public $69,980.00 $1,685,000.00 11.50% BIN Frequency
Private $219,400.00 $1,676,000.00 7.60% 7%-7.5% 1
Public $64,930.00 $1,668,000.00 11.70% 8%-8.5% 8
8.5%-9% 1
9%-9.5% 1
9.5%-10% 0
10%-10.5% 2
10.5%-11% 2
11%-11.5% 2
11.5%-12% 3
12%-12.5% 1

Histogram:Engineering Major

7%-7.5% 8%-8.5% 8.5%-9% 9%-9.5% 9.5%-10% 10%-10.5% 10.5%-11% 11%-11.5% 11.5%-12% 1 8 1 1 0 2 2 2 3

BIN

Frequency