Covid-19 has brought financial issues to Colleges and Universities in Ontario. In order to relief their budgets the province is willing to offer early retirement to some professors. The Ontario Ministry of Education has chosen you to help them to make this decision and analyse their data.
Question 1
In Excel open a new sheet and name it Answer 1.
Using the provided database, perform a random sampling with 300 samples.
Write down in the same sheet the steps and formulas you used to make the sampling
Question 2
Although you have the population, we are not going to use it. We will deal only with your sample and consider for all next questions a sigma unknown case.
Open a new sheet and name it Answer 2.
Calculate the confidence internal for your sample variable Age mean with 99% of confidence. Leave all relevant calculus and formulas, they will be used for marking.
In a visible place write down to the Ontario Ministry of Education what number you just found means.
Question 3
Although you have the population, we are not going to use it. We will deal only with your sample and consider for all next questions a sigma unknown case.
Open a new sheet and name it Answer 3.
The province is willing to release the retirement package only if the average of professors age is higher or equal to 53 years. As per previous experiences they are assuming that once again there will be no necessity to release the package. Because this is an important matter, they want to have 99% of confidence.
Write down your recommendation to them using the proper statistic numbers. Explain why they should or should not release the package and if more tests are necessary.
Leave all relevant calculus and formulas, they will be used for marking.
Question 4
Although you have the population, we are not going to use it. We will deal only with your sample and consider for all next questions a sigma unknown case.
In Excel open a new sheet and name it Answer 4.
Another variable that the province is taken in consideration is gender. Unfortunately, we still live in a world where men’s salary is higher than women’s. Therefore, the province is not willing to release the package if half or more of all professors are men. Based on previous census, they believe that the majority of the professors are indeed men. Again, this is an important matter and they want to have 99% of confidence.
Write down your recommendation to them, solely based on gender, using the proper statistic numbers. Write down your recommendation to them using the proper statistic numbers. Explain why they should or should not release the package and if more tests are necessary.
