30 Aug BUS 310, Homework #3
Instructions: Complete each problem on a separate worksheet in a single Excel file. Rename the separate worksheets with the respective problem number. You may have to copy and paste the datasets into your homework file first. Name the file with your last name, first initial, and HW 3. Label each part of the question. When calculating statistics, label your outputs. Submit your completed file in Blackboard.
Use the data file 310homework3data.xlsx to generate random samples using the specified sampling techniques. The data set had 204 entries.
1. Use the function RANDBETWEEN(low, high) to select a simple random sample of 10 employees. Use that data to find their average age.
2. Stratify the data by gender (sort may be useful here), and select a random sample of 10 employees in each gender category. Use that data to find the average years of prior experience for each group, and overall.
3. Use systematic sampling (every 15th employee), and find the average of their years of beta experience.
4. Create a cluster sample by collecting groups of 5-10 employees in each cluster (the exact size is up to you). Number each cluster, and use the RANDBETWEEN function used in problem one to select three of the clusters. Find the average of the selected employees annual salaries.
5. Give some reasons why multistage sampling might be required to give the best results.
6. Give an example of a real-world situation where a non-sampling error might occur in a business-related data collection, and describe some steps that can be taken to minimize each.
a. Nonresponse bias
b. Nontruthful responses
c. Measurement error
d. Voluntary response bias
7. Why do we prefer to give confidence intervals for inferential statistics rather than point estimates? Illustrate your explanation with an example.
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