Project part 1
For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadsheet. Download it here.
In this data set – the ROI data set – for 2 different majors (Business and Engineering), you are given a sample of the 20 best colleges according to ROI (ROI = Return on Investment) and their ‘School Type’, ‘Cost’, ’30-Year ROI’, and ‘Annual % ROI’.
- The Week 8 project is completed in part every week. If you do each week’s project, your Week 8 project will go a lot better than if you do not. Open the spreadsheet. Explain what ROI is.
- From the spreadsheet, define what each column is telling you. Go beyond giving the name of the column. For example, what is a 30-year ROI?
- For each of the 2 majors create a pie chart using the column ‘School Type’. Make sure that the title clearly explains what you are looking at.
- For each of the 2 majors create a frequency distribution and histogram using the column ‘Annual % ROI’. Group with starting at 6% (0.06), ending at 11% (0.11), and go by 0.5% (0.005). Make sure that there are NO overlapping bars. For example, if one bar is 0.060-0.064, then the next bar can’t start with 0.064. It would have to start with0.065.
- In a highlighted box, interpret your results. Do the samples represent public and private schools equally? What does this mean in terms of the population of schools? Is there a certain histogram bar that is higher than all the others? What does this mean in terms of ROI? These are not the only questions you can use to interpret the results, but they are a push in the right direction. Keep going. What else do you see?
For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadheet. Download it here.
Using the ROI data set:
- For each of the 2 majors calculate the mean, median, minimum, maximum, range, and standard deviation for the columns ‘Cost’ and ’30-Year ROI’.
- Define each of the terms in #1, and explain how each can be used to provide information about a data set.
- By hand or with Excel, for each of the 2 majors calculate the probability that a college picked from the column for ‘School Type’ is ‘Private’.
- By hand or with Excel, for each of the 2 majors find the probability that a college with the ‘School Type’ ‘Private’ has a ’30-Year ROI’ between $1,500,000 and $1,800,000.
- This is your highlighted box for your project: Use the definitions and explanations in #2 to analyze the data. What have you learned about the data set of each major? What does it mean if there is a greater range in terms of ROI? What does it mean if there is a greater standard deviation in terms of ROI? How do minimum and maximum factor into the question? Which major is looking like it has the better ROI right now? Why?