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Estimating From Samples
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For this assessment, you will need to use SAS Enterprise Guide or the Excel Calculators, the latter of which can be found in Resources. SAS users can reference the SAS tutorials located in the third study activity of Unit 1. For this assignment, you will practice applying inferential statistical analysis to two business decision scenarios. Complete both following scenarios.
Practical Application Scenario 1
Refer to the stock you selected in Module 1. Using the same downloaded data, build a 95 percent confidence interval for the daily stock volume using your downloaded data. What does this confidence interval mean? Why might decision makers be interested in such an interval?
Practical Application Scenario 2
To complete this scenario, use the Sample Size Estimator file provided in Resources.
For the stock you selected in Module 1, what size sample would you need to bracket the adjusted daily closing price within 50 cents (for example, a margin of error of 50 cents)? Use the standard deviation from your data for your calculations, and assume this standard deviation represents the population standard deviation.
Assignment Submission
You must submit two documents. First, you must compile all your answers in a Microsoft Word file, pasting in the tables and graphics you created to demonstrate your work (submitted as a .docx file). Second, you must upload the raw data (as a .csv file) that you used to do your analysis for the purposes of instructor replication. Failure to upload the second file will result in a zero on the assignment until the file is submitted.
