For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadheet. Download it here.
Using the ROI data set:
- What are the characteristics of a binomial experiment? Explain how the following scenario fits EACH of the requirements for a binomial experiment. Scenario: We select 7 colleges from a major and then record whether they are of ‘School Type’ ‘Private’ or not.
- For each of the 2 majors determine if the ‘Annual % ROI’ appears to be normally distributed. Use a histogram and the measures of central tendency (mean and median) to justify your results.
- In a highlighted box, explain how having or not having a normal distribution for each of the majors may affect your ability to compare the data of the two majors.