Needs to Done on Time!!!

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))

	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

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

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