Probability Distributions
Refer to the data.
Using the ROI data set:
- If we select 7 colleges from a major and then record whether they are of 'School Type' 'Private' or not, is this experiment a binomial one? Why or why not?
- For each of the 2 majors determine if the 'Annual % ROI' appears to be normally distributed. Consider the shape of the histogram and the measures of central tendency (mean and median) to justify your results. Report on each of these with charts and calculations to justify your answers.
Business Major
|
School Type
|
Cost
|
30 Year ROI
|
Annual ROI
|
|
Private
|
$222,700.00
|
$1,786,000.00
|
7.70%
|
|
Private
|
$176,400.00
|
$1,758,000.00
|
8.40%
|
|
Private
|
$212,200.00
|
$1,714,000.00
|
7.80%
|
|
Public
|
$125,100.00
|
$1,535,000.00
|
9.10%
|
|
Private
|
$212,700.00
|
$1,529,000.00
|
7.40%
|
|
Public
|
$92,910.00
|
$1,501,000.00
|
10.10%
|
|
Private
|
$214,900.00
|
$1,485,000.00
|
7.30%
|
|
Private
|
$217,800.00
|
$1,483,000.00
|
7.20%
|
|
Private
|
$225,600.00
|
$1,444,000.00
|
7.00%
|
|
Private
|
$217,300.00
|
$1,442,000.00
|
7.10%
|
|
Private
|
$226,500.00
|
$1,441,000.00
|
7.00%
|
|
Private
|
$215,500.00
|
$1,438,000.00
|
7.20%
|
|
Private
|
$223,500.00
|
$1,428,000.00
|
7.00%
|
|
Private
|
$226,600.00
|
$1,414,000.00
|
7.00%
|
|
Private
|
$189,300.00
|
$1,397,000.00
|
7.50%
|
|
Public
|
$89,700.00
|
$1,382,000.00
|
9.90%
|
|
Public
|
$87,030.00
|
$1,376,000.00
|
10.00%
|
|
Private
|
$218,200.00
|
$1,343,000.00
|
6.90%
|
|
Private
|
$229,900.00
|
$1,339,000.00
|
6.70%
|
|
Private
|
$148,800.00
|
$1,321,000.00
|
8.10%
|
Engineer Major:
|
School Type
|
Cost
|
30 Year ROI
|
Annual ROI
|
|
Private
|
$221,700.00
|
$2,412,000.00
|
8.70%
|
|
Private
|
$213,000.00
|
$2,064,000.00
|
8.30%
|
|
Private
|
$230,100.00
|
$1,949,000.00
|
7.90%
|
|
Private
|
$222,600.00
|
$1,947,000.00
|
8.00%
|
|
Private
|
$225,800.00
|
$1,938,000.00
|
8.00%
|
|
Public
|
$87,660.00
|
$1,937,000.00
|
11.20%
|
|
Private
|
$224,900.00
|
$1,915,000.00
|
7.90%
|
|
Private
|
$221,600.00
|
$1,878,000.00
|
7.90%
|
|
Public
|
$125,100.00
|
$1,854,000.00
|
9.80%
|
|
Private
|
$215,700.00
|
$1,794,000.00
|
7.90%
|
|
Public
|
$92,530.00
|
$1,761,000.00
|
10.60%
|
|
Private
|
$217,800.00
|
$1,752,000.00
|
7.70%
|
|
Public
|
$89,700.00
|
$1,727,000.00
|
10.70%
|
|
Private
|
$229,600.00
|
$1,716,000.00
|
7.50%
|
|
Public
|
$101,500.00
|
$1,703,000.00
|
10.20%
|
|
Public
|
$115,500.00
|
$1,694,000.00
|
9.70%
|
|
Public
|
$104,500.00
|
$1,690,000.00
|
10.10%
|
|
Public
|
$69,980.00
|
$1,685,000.00
|
11.50%
|
|
Private
|
$219,400.00
|
$1,676,000.00
|
7.60%
|
|
Public
|
$64,930.00
|
$1,668,000.00
|
11.70%
|