You will submit your HW assignment within Canvas in the Assignments area. Remember to use naming convention detailed in the syllabus. Word, Excel, screenshots, .jpegs, .pdfs &/or all types of documents can be submitted.
Follow the instructions listed below regarding the expected HW deliverable.Submit homework by the due date and time.
The same
instructions apply for all homework problems. It is vitally
important that you do a good job defining the problem,
stating assumptions, explaining your analysis, feel free to use
graphs, tables, and/or any other means to get your point across.
Simply writing an answer down is
woefully inadequate (i.e., you will receive no points).
Remember: You are telling a "story" in the attempt to win a contract from a client, do your best to tell the story, win the contract, and get paid (or in this case get an excellent grade!)
Complete the following problems:
1. In Dr. Schlapfer's OMGT6123 class (n = 67
total students), the average GPA for the midterm
exam was 3.11 with a sample standard deviation of
0.45. Dr. Schlapfer believes that this midterm
average differs from the long run (population) mean
of 3.25. It is assumed that the population
data is normally distributed.
a. She
wants to test at a 95% confidence level
is this claim about the sample GPA being
different than the long run GPA.
Show your process & explain the
result.
b. Does this result change if she
wishes to increase the confidence to
99%? Show your process &
explain your answer.
2. Jennifer is
in charge of creating the media for the College
of Business Career Center. Overtime, she
has found that recent graduates garner an
average salary when graduating of $62,500.
Currently the COB media states this & is
also stated in many of the COB ads. Jen
goes on to sample 125 students (n = 125), &
the average sample salary that comes from the
sample is $62,000 with a sample standard
deviation of $2,200. Jen believes that
this sample salary average does not differ from
the long run (population) salary mean. It
is assumed that the population data is normally
distributed. a. Using the given
information, what is the sampling error for the
problem & what is the standard deviation of the
sample? b. Again, using the
given & calculated information, what sample size
would be necessary if we wanted to estimate the true
mean installation time with the same sampling error
but with only 95% confidence?
a. She wants
to test at a 95% confidence level is
this claim about the sample average
salary being different than the
population salary mean. Show
your process & explain the
result.
b. Does this result change if
she wishes to increase the
confidence to 99%? Show your
process & explain your answer.
3.
Rob used a 99%
confidence interval to
estimate the mean
server installation
time (days). A
random sample of 222
installations
generated the
following confidence
interval: (1.22,
3.44).
INSTRUCTIONS FOR THE HW#4 DELIVERABLE
Create a short executive summary presenting the details of each problem you completed. Follow these instructions for the executive summary:
Your work should consist of:
a. A cover
sheet with your name and the date.
b. A 1-PAGE
Executive Summary of your work including explanations,
calculations, diagrams, etc. Please feel free to include as
much detail as you think necessary but remember you have
limited space.
c. Executive
summaries are expected to be typewritten (i.e., MS-Word,
WordPerfect). However, calculations can be handwritten.
Clarity and neatness are expected.
d. Please
refer to the website for further information regarding
writing executive summaries. You may use any font and
spacing that is reasonable. i.e., 0.25-inch margins and font
size 10 are at the low end of reasonable. At a minimum your
summary must have section headers & structure (e.g.,
Introduction, Analysis, Recommendations). Remember you are
presenting this to your boss.
e. Please combine all
calculations, spreadsheets, diagrams, graphs, etc., in a
section & label it Appendix A. If you are running short
on space in your executive summary, you may reference pages
in the Appendix. (This may come in handy for certain
diagrams, graphs, etc.) It is vitally important that you
link your work to the executive summary, i.e., I will
NOT go searching for answers, spell them out in your
executive summary and show your work in the Appendix!!
You
will be graded on both your calculations and your
presentation. Calculations will be weighted approximately
75% and your presentation (i.e., the executive summary) will
be weighted 25%. Just a reminder, if I can't read it or find
it, I can't grade it.
A typical HW will have the following parts:
- a cover page with your name and date,
- your executive summary,
- an appendix cover page, and
- your appendix pages.
You may
turn in both a Word file and an Excel file (the Excel file
would most likely contain your Appendix material).
NOTE: I WANT ONLY 1
(ONE) EXECUTIVE SUMMARY THAT INCLUDES ALL HW PROBLEMS.
DO NOT CREATE MORE THAN 1 (ONE) EXECUTIVE SUMMARY!!
PLEASE EMAIL ME IF THIS IS NOT CLEAR.