Task: You have been hired for Fogle Consulting to research banks that have failed and assets within those banks from 2010-2018. You will use the following site that provides you some population details and you will pull your sample from: https://www.fdic.gov/bank/historical/bank/bfb2010.html (Links to an external site.). Write a report discuss any bias that might have occurred due to your sampling technique. Note that bias involves a misrepresentation of the population so that the sample data will not represent the population data. Any findings of potential bias should provide a convincing argument why you think that your sample is more likely to have a higher or lower mean. Be careful not to use the word ″random″ without fully explaining what you mean. Also note that simple random sample sampling is usually impossible to use. Requirement 2: CHARTS: All relevant charts: must include a 1) histogram, 2) stem and leaf, and 3) box and whiskers; and may include pie, and line plot, etc using excel. Requirement 3: An interpretation of each of the charts in the context your study. Discuss what each chart says and does not say about the population. Compare and contrast the charts and state what audience each chart might be best for. Requirement 4: DESCRIPTIVE STATISTICS should be done in Excel: A list of the summary statistics and an interpretation of each. This includes the Mean, Mode, Variance of a Sample, Standard Deviation, z-score. Pay special attention to the standard deviation, as it is the newly learned statistic for this project. Project without at least a full paragraph devoted to the standard deviation cannot receive an ″A″ grade. In particular, is the Empirical Rule appropriate or must you resort to Chebyshev′s Theorem? What does the rule or theorem say about your population? Discuss how to use a z-score for your study. Make sure you interpret all statistics in this project in the context of the survey rather than just list the definitions. Correlate it to how it applies to your dataset. Requirement 5: Probability: Suppose the Data nationwide are normally distributed with a mean of 774 and standard deviation of 133. What is the probability that a randomly selected Bank score will be less than 774 points? B: What is the probability that a randomly selected Bank score will exceed 774 points? C: What is the probability that a randomly selected Bank score will be between 560 and 650? Requirement 6: A sample of 376 observations from this dataset was previously selected from a normal population for which the population standard deviation is known to be 26. The sample mean is 15. Determine the Standard error of the Mean? Note: Round your answers 3 decimals. Requirement 7: A sample of 376 observations from this dataset was previously selected from a normal population for which the population standard deviation is known to be 26. The sample mean is 15. Determine the 90% Confidence Interval for the Population Mean? Note: Round z-score 2 decimals and your answers 3 decimals. Requirement 8: A synopsis of the importance of your findings. Include recommendations that you will give to interested parties based on the mean, standard deviation, each of the charts, etc. In your recommendations, include the specific values. For example, if your study was on the age that Banks first learned the quadratic formula and the mean was 15.3, do not just say ″The mean could be used to understand when banks learn the financial curve of a business.″ Instead, you would write, ″Banks are learning the financial curve on average just after they have been around 15. Be sure to state who the interested parties are. This should be incorporated throughout the paper not just at the beginning and end. Requirement 9: A discussion of how further studies could be done in order to delve deeper into the topic. Grading will be based on completeness, mathematical accuracy, proper use of statistical terminology, and your ability to communicate the results. All charts and statistics must be computer generated in Excel. NOTE: The report should be typed, double spaced, and have 12 point font. Note that for a scientific paper you should avoid the use of the pronouns ″I″, ″me″, ″we″, and ″us″. Refer to yourselves as ″the researchers″ or ″the authors″. This is a paper not a series of answers to questions. The paper should be written in essay form and must provide proper citations of all sources used. Rubric for the BUSI 2305 Project You will receive the following grade if your project is as described: High ″A″ 95-100: The project goes above and beyond what was asked of you. You have clearly and accurately addressed each of the bulleted points described in the project instructions and have also included additional statistical analyses relating to the topic. Your paper contains no errors (both grammatical and interpretive). The paper clearly demonstrates your mastery of all of the statistical concepts related to the project. All relevant computer charts and readouts are included in the paper. The paper is well written and includes an introduction and conclusion. The client that you are writing for will be impressed by your recommendations that are provided throughout the paper. These recommendations will truly help change the way the client runs the business, school, agency, etc. Low ″A″90-95: You have clearly and accurately addressed each of the bulleted points described in the project instructions. You paper contains few errors (both grammatical and interpretive) with the errors all minor. The paper clearly demonstrates that you understand all of the statistical concepts related to the project. All relevant computer charts and readouts are included in the paper. The paper is well written and includes an introduction and conclusion. The client that you are writing for will find your recommendations useful. High ″B″85-89: You have clearly and accurately addressed each of the bulleted points described in the project instructions. Your paper contains few errors (both grammatical and interpretive) with at most one moderate error. The paper clearly demonstrates that you understand most of the statistical concepts related to the project. Most relevant computer charts and readouts are included in the paper. The paper includes an introduction and conclusion, but proofreading the paper would have helped make it more readable. The client will find the recommendations useful, but will have further questions about your recommendations because at least one or two items is confusing or left out. Low ″B″80-84: You have clearly and accurately addressed most of the bulleted points described in the project instructions. Your paper contains some errors (both grammatical and interpretive) including some moderate errors. The paper clearly demonstrates that you understand most of the statistical concepts related to the project, but also shows that your are confused about (or have left out) one of two of the key concepts. Most relevant computer charts and readouts are included in the paper. The paper may be in need of better organization. Your client will be happy with some recommendations, but will have several further questions due to your incorrect, confusing or omitted discussion in one or two key areas. High ″C″75-79: You have a muddled idea of the bulleted points described in the project instructions and have left out a few of them.
