Statistics for Business
Data Sheet “New Account Processing” – you can find this Excel file in Week 2.
Based on what you’ve learned in Chapter 3 and 4, calculate the following:
Total # of people: 125 (use this number)
Sample size: conduct a count via formula of the data in your spreadsheet
% of population: calculate the percentage of sample size from total number. Please note, if it is higher than 5%, you will need to calculate the correction factor.
Sample Mean of Sales: use formula
Sample Standard Deviation of Sales: use formula
Confidence Level: 95% (use this number)
Correction Factor: use the SQRT formula to calculate the correction factor
Standard Error: Sample StdDev divided by SQRT of sample size
Alpha: 5% (1 minus the confidence level)
Degrees of Freedom: Sample size minus 1
t-Value: TINV(Alpha, Degrees of Freedom)
Half-Width: T-value * Total # of people * Standard Error * Correction Factor
Lower Limit Total Sales: Total # of people * Sample Mean of sales minus Half-With
Upper Limit Total Sales: Same as above, except you add the Half-With
Please complete all calculations in the Excel file provided to you. I have provided hints and numbers to help you complete this assignment. Please do not change the values I provided in the instructions.
Save your file with your Firstname_lastname and submit in the designated area. I will need to see the formulas, so make sure you use them! In a short paragraph, within the spreadsheet, explain why this analysis might be important to a business owner. What does the data tell you? Please be mindful of the submission deadline as there is no allowance for late submissions.
>DCII
ears in Acct angment
.4
1 1 1 1
4.2
1 1 1 3 1 1 0.7
4 1 1 1 8 1 0 0 9
6 1 1 0 2
4 0 1 1 6 1 0 0 3
9 0 1 1 2 0 0 1 2 1 0 0 2 1 0 0 7 1 1 1 2 0 0 0 2 1 0 0 2 1 0 0 44 4 0 1 1 8 0 1 1 3 1 0 0 6 0 0 1 4 1 1 1 7 0 0 1 8 0 0 1 7 1 0 0 2 0 1 1 5 1 1 1 4 0 0 1 3 1 1 1 6 1 0 0 2 0 0 1 2 0 0 1 Apps per Day Close Ratio Years in Acct Mangment Sex Acct Mgt. Certified Acct Mgt Background Prior 7 1 1 1 8 1 1 1 4 1 1 1 68.3 6 1 1 0 50 4 0 1 1 51.7 9 0 1 1 ew Account Processing
Certified Close Ratio Y Y
2
Apps per Day
Close Ratio
Y
M
Sex
Acct Mgt.
Certified
Acct Mgt Background Prior
1
2.
4
44
7
1
2.
3
5
8
1
2.71
32
0
1
2.15
6
1
3.03
42.6
1
2.
9
68.3
1
2.4
50
1
2.66
37.9
1
2.2
51.7
1
2.54
29.2
1
2.24
29.5
1
1.97
42.4
1
2.32
37.7
1
2.55
58.2
1
1.93
35
1
2.28
45.8
1
1.88
1
2.01
67.7
1
2.11
50.7
1
2.07
61.2
1
2.49
29.8
1 2.01
54.4
1
2.95
38.6
1
1.87
38.7
1 2.2
40.4
1
2.78
62.2
1
2.89
41.5
1
2.97
63.2
1
2.36
18.6
1
1.68
40.7
1
1.46
36.3
DCII2
1 2.4 44.4
1 2.31
54.2
1 2.71 32 3 0 1 1
1 2.15 60.7
1 3.03 42.6 8 1 0 0
1 2.99
1 2.42
1 2.66 37.9 6 1 0 0
1 2.23
1 2.54 29.2 2 0 0 1
1 2.24 29.5 2 1 0 0
1 1.97 42.4 2 1 0 0
1 2.32 37.7 7 1 1 1
1 2.55 58.2 2 0 0 0
1 1.93 35 2 1 0 0
1 2.28 45.8 2 1 0 0
1 1.88 44 4 0 1 1
1 2.01 67.7 8 0 1 1
1 2.11 50.7 3 1 0 0
1 2.07 61.2 6 0 0 1
1 2.49 29.8 4 1 1 1
1 2.01 54.4 7 0 0 1
1 2.95 38.6 8 0 0 1
1 1.87 38.7 7 1 0 0
1 2.2 40.4 2 0 1 1
1 2.78 62.2 5 1 1 1
1 2.89 41.5 4 0 0 1
1 2.97 63.2 3 1 1 1
1 2.36 18.6 6 1 0 0
1 1.68 40.7 2 0 0 1
1 1.46 36.3 2 0 0 1
N
New Account Processing
Years Employed
Gender
Prior Background
Sales
7 M Y Y
44.40%
$ 201,500
8 M Y Y
54.20%
$ 129,000
4 M Y Y
60.70%
$ 101,100
8 M N N
42.60%
$ 99,700
6 M Y N
68.30%
$ 98,100
6 M N N
37.90%
$ 93,900
2 M N N
29.50%
$ 90,800
2 M N N
42.40%
$ 90,600
7 M Y Y
37.70%
$ 89,200
2 M N N
35.00%
$ 86,600
2 M N N
45.80%
$ 83,900
3 M N N
50.70%
$ 80,000
4 M Y Y
29.80%
$ 77,300
7 M N N
38.70%
$ 67,100
5 M Y Y
62.20%
$ 58,900
3 M Y Y
63.20%
$ 56,600
6 M N N
18.60%
$ 54,700
3
F
32.00%
$ 126,300
4 F Y Y
50.00%
$ 95,800
9 F Y Y
51.70%
$ 93,100
2 F N Y
29.20%
$ 91,600
2 F N N
58.20%
$ 89,000
4 F Y Y
44.00%
$ 82,300
8 F Y Y
67.70%
$ 81,000
6 F N Y
61.20%
$ 78,200
7 F N Y
54.40%
$ 71,300
8 F N Y
38.60%
$ 67,500
2 F Y Y
40.40%
$ 64,800
4 F N Y
41.50%
$ 57,200
2 F N Y
40.70%
$ 54,100
2 F N Y
36.30%
$ 51,700