Business & Data Analytics
During these chapters, you will analyze three main concepts of testing data.
1. If you received a random sample size of 345 that is drawn from a population with a mean of 150 and standard deviation of 180. What is the standard deviation of the sample mean? Finally, what does the standard deviation mean in this question? Explain.
2. What are your assumptions with the confidence interval at 95%? Explain.
3. When observing hours discrepancy in the workplace, we analyze 32 workers. We noticed the sample mean was found to be 42.1 hours a week, with a standard deviation of 10.4. Test the claim that the standard deviation was at least 13 hours. The hypotheses are:
We shall choose α=0.05
Will you accept or reject the hypotheses?
Need 4-5 pages with explanations and working. Please provide peer reviewed citations.