Advanced-Analytics-and-Statistics-Course-Project-Phase-2-Using-Minnesota-state-jobs-data-set-homework-help

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Using Minnesota state jobs data set

Course Project – Phase 2


This week you will begin working on Phase 2 of your course project. Using the same data set and variables for your selected topic, add the following information to your analysis:


  1. Discuss the importance of constructing confidence intervals for the population mean.
    • What are confidence intervals?
    • What is a point estimate?
    • What is the best point estimate for the population mean? Explain.
    • Why do we need confidence intervals?
    1. Based on your selected topic, evaluate the following:
      • Find the best point estimate of the population mean.
      • Construct a 95% confidence interval for the population mean. Assume that your data is normally distributed and is unknown.
        • Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.
      • Write a statement that correctly interprets the confidence interval in context of your selected topic.
      1. Based on your selected topic, evaluate the following:
        • Find the best point estimate of the population mean.
        • Construct a 99% confidence interval for the population mean. Assume that your data is normally distributed and is unknown.
          • Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.
        • Write a statement that correctly interprets the confidence interval in context of your selected topic.
        1. Compare and contrast your findings for the 95% and 99% confidence interval.
          • Did you notice any changes in your interval estimate? Explain.
          • What conclusion(s) can be drawn about your interval estimates when the confidence level is increased? Explain.

          		2.

          This assignment should be formatted using APA guidelines and a minimum of 2-3 pages in length.
 
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