I attached the documents
Part I The observational study from which the data described below sought to determine if the cost of serving customers declined after the introduction of the internet banking option. The case shows that while the cost actually increased, but the relationship with customers deepened, offering new profit opportunities. The study involved three participant groups: a group of passive early adopters of internet banking, a group of active early adopters of internet banking, and A control group. It is noted that “the control group represented customers with no transactions in the online channel subsequent to enrollment in the channel; passive adopters represented users with fewer than the median number of transactions in the online channel subsequent to enrollment; and active adopters represented those who had greater than the median number of transactions in the online channel subsequent to enrollment in the channel.” The study involved recording the number of transactions in various banking channels before and after the launch of an internet-banking channel. The channels considered in the study are: · branch visits, · calls to a call center, · automated teller machine (ATM) transactions, · calls to an interactive voice recognition (IVR) service, and · online banking transactions. Table A shows the mean number of transactions for each group for each channel before and after the launch of the internet banking channel, is replicated here as Table 1. Table 1: Average monthly transactions per customer by channel (June 2006). Fictional raw data underpinning Table 1 is presented in a Microsoft Excel spreadsheet with worksheets labeled “Branch,” “CallCenter,” “ATM,” “IVR” and “Online.” These worksheets contain the raw data for the various channels for each of 1,000 participants in each of the three experimental groups before and after the launch of the internet-banking channel. A summary worksheet titled “Main DATA” shows the mean and standard deviation of the number of transactions of the raw data for each group for each channel before and after the launch of the internet banking channel based upon the sample sizes shown in the row labeled “n (sample size). Req: n≤1000.” Sample sizes less than or equal to 1,000 can be chosen. Note: the data is representative of the data in the original study that was used to construct Table A. The transaction counts should be integer-valued but are presented as real numbers as a product of random number generation and transformation processes. Your task: 1.1 Explore the dance of the confidence intervals by generating 95% confidence interval estimates for the population mean for each of 2,000 randomly-generated samples of size ? = 30 of two of the cells in Table 1. See the associated video tutorial for guidance with the Excel modeling. What percentage of the intervals cover the point estimate of the associated mean? Note that there is a little slippage here: the dance of the confidence intervals deals with coverage of the population mean, which we do not know; we are using the point estimate here as a proxy for the population mean. 1.2 Compute and interpret interval estimates for the population means associated with two of the cells in Table 1 for sample sizes ? = 30, 50 and 100. Part II The Titanic may be the most famous shipwreck of all time. This part of the assignment explores the dance of confidence interval estimates of the (population) mean passenger fare. Your task: 2.1 Explore the dance of the confidence intervals by generating 95% confidence interval estimates for the population mean fare for each of 2,000 randomly generated samples of sizes ? = 30 and 100 of passengers of the Titanic. What percentage of the intervals cover the point estimate of the associated mean? If the coverage reliability is not approximately 95%, what do you think is wrong? Part III Your task: 3.1 Compute and interpret point interval estimates for (your choice of) the population mean, proportion or difference in population means associated with a variable in a data set of your choice for sample sizes ? = 30 and 100. Part I The observational study from which the data described below sought to determine if the cost of serving customers declined after the introduction of the internet banking option. The case shows that while the cost actually increased, but the relationship with customers deepened, offering new profit opportunities. The study involved three participant groups: a group of passive early adopters of internet banking, a group of active early adopters of internet banking, and A control group. It is noted that “the control group represented customers with no transactions in the online channel subsequent to enrollment in the channel; passive adopters represented users with fewer than the median number of transactions in the online channel subsequent to enrollment; and active adopters represented those who had greater than the median number of transactions in the online channel subsequent to enrollment in the channel.” The study involved recording the number of transactions in various banking channels before and after the launch of an internet-banking channel. The channels considered in the study are: · branch visits, · calls to a call center, · automated teller machine (ATM) transactions, · calls to an interactive voice recognition (IVR) service, and · online banking transactions. Table A shows the mean number of transactions for each group for each channel before and after the launch of the internet banking channel, is replicated here as Table 1. Table 1: Average monthly transactions per customer by channel (June 2006). Fictional raw data underpinning Table 1 is presented in a Microsoft Excel spreadsheet with worksheets labeled “Branch,” “CallCenter,” “ATM,” “IVR” and “Online.” These worksheets contain the raw data for the various channels for each of 1,000 participants in each of the three experimental groups before and after the launch of the internet-banking channel. A summary worksheet titled “Main DATA” shows the mean and standard deviation of the number of transactions of the raw data for each group for each channel before and after the launch of the internet banking channel based upon the sample sizes shown in the row labeled “n (sample size). Req: n≤1000.” Sample sizes less than or equal to 1,000 can be chosen. Note: the data is representative of the data in the original study that was used to construct Table A. The transaction counts should be integer-valued but are presented as real numbers as a product of random number generation and transformation processes. Your task: 1.1 Explore the dance of the confidence intervals by generating 95% confidence interval estimates for the population mean for each of 2,000 randomly-generated samples of size ? = 30 of two of the cells in Table 1. See the associated video tutorial for guidance with the Excel modeling. What percentage of the intervals cover the point estimate of the associated mean? Note that there is a little slippage here: the dance of the confidence intervals deals with coverage of the population mean, which we do not know; we are using the point estimate here as a proxy for the population mean. 1.2 Compute and interpret interval estimates for the population means associated with two of the cells in Table 1 for sample sizes ? = 30, 50 and 100. Part II The Titanic may be the most famous shipwreck of all time. This part of the assignment explores the dance of confidence interval estimates of the (population) mean passenger fare. Your task: 2.1 Explore the dance of the confidence intervals by generating 95% confidence interval estimates for the population mean fare for each of 2,000 randomly generated samples of sizes ? = 30 and 100 of passengers of the Titanic. What percentage of the intervals cover the point estimate of the associated mean? If the coverage reliability is not approximately 95%, what do you think is wrong? Part III Your task: 3.1 Compute and interpret point interval estimates for (your choice of) the population mean, proportion or difference in population means associated with a variable in a data set of your choice for sample sizes ? = 30 and 100. Part I The observational study from which the data described below sought to determine if the cost of serving customers declined after the introduction of the internet banking option. The case shows that while the cost actually increased, but the relationship with customers deepened, offering new profit opportunities. The study involved three participant groups: a group of passive early adopters of internet banking, a group of active early adopters of internet banking, and A control group. It is noted that “the control group represented customers with no transactions in the online channel subsequent to enrollment in the channel; passive adopters represented users with fewer than the median number of transactions in the online channel subsequent to enrollment; and active adopters represented those who had greater than the median number of transactions in the online channel subsequent to enrollment in the channel.” The study involved recording the number of transactions in various banking channels before and after the launch of an internet-banking channel. The channels considered in the study are: · branch visits, · calls to a call center, · automated teller machine (ATM) transactions, · calls to an interactive voice recognition (IVR) service, and · online banking transactions. Table A shows the mean number of transactions for each group for each channel before and after the launch of the internet banking channel, is replicated here as Table 1. Table 1: Average monthly transactions per customer by channel (June 2006). Fictional raw data underpinning Table 1 is presented in a Microsoft Excel spreadsheet with worksheets labeled “Branch,” “CallCenter,” “ATM,” “IVR” and “Online.” These worksheets contain the raw data for the various channels for each of 1,000 participants in each of the three experimental groups before and after the launch of the internet-banking channel. A summary worksheet titled “Main DATA” shows the mean and standard deviation of the number of transactions of the raw data for each group for each channel before and after the launch of the internet banking channel based upon the sample sizes shown in the row labeled “n (sample size). Req: n≤1000.” Sample sizes less than or equal to 1,000 can be chosen. Note: the data is representative of the data in the original study that was used to construct Table A. The transaction counts should be integer-valued but are presented as real numbers as a product of random number generation and transformation processes. Your task: 1.1 Explore the dance of the confidence intervals by generating 95% confidence interval estimates for the population mean for each of 2,000 randomly-generated samples of size ? = 30 of two of the cells in Table 1. See the associated video tutorial for guidance with the Excel modeling. What percentage of the intervals cover the point estimate of the associated mean? Note that there is a little slippage here: the dance of the confidence intervals deals with coverage of the population mean, which we do not know; we are using the point estimate here as a proxy for the population mean. 1.2 Compute and interpret interval estimates for the population means associated with two of the cells in Table