Question 1 (10 marks) Excel was used to analyze the number of employees for the

Question

Question 1 (10 marks) Excel was used to analyze the number of employees for the top 60 employers with headquarters around the world outside of the United States. The data was compiled by myglobalcareer.com, extracted from My Global Career 500, and was analyzed using Exce's descriptive statistics feature. Summarize what you have learned about the number of employees for these companies by studying the output (about 250 words). Standand o 6108 57 925E 00 Maximum 2716575 In your summary description the following should be highlighted. Number of employees, minimum, maximum and range, the mean, median and mode number of employees, skewness, standard deviation. Carefully describe the indicators and its implications . Question 2 (20 marks) Study the following output from a regression analysis to predict y from x a. What is the equation of the regression model? b. What is the meaning of the coefficient of x? c, what is the result of the test of the slope of the regression model? Let·.10 why is the t ratio (1 marks) (2 marks) d. Comment on r and the standard error of the estimate. e. Comment on the relationship of the F value to the t ratio for x. f. The correlation coefficient for these two variables is 7918. Is this result surprising to you? Why or (S marks) (2 marks) (5 marks) why not? (5 marks)

Explanation / Answer

An explanation of the kwy parts of this output is the following:

Mean 211942.9 ybar = the sample mean.

Standard error 12415.31 s/sqrt(n) = the estimated standard deviation of the sample mean

Standard deviation 96168.57 s = the estimated standard deviation of y

Variance 9.25E+09 s-squared = the estimated variance of y  

= Sum of (y_i - ybar)^2

Count 10 n = sample size

Confidence level (95%) 2.590255 t(.025;n-1)*s/sqrt(n)

The mean is the simple average of the observations and is the standard estimate of the center of the data. (Other estimates are the median and the mode).

The standard deviation is the standard estimate of the variability of the data.

The standard error and the confidence level are used for statistical inference on the population mean and are discussed in Excel: Statistical Inference for univariate data

Now, The standard output gives Mean, Standard error, Median, Mean, Standard deviation, Variance, Kurtosis, Skewness, Range, Maximum, Minimum, Sum, and Count.

Additionally we can obtain the k-th largest and k-th smallest values by checking the appropriate column and setting k.

For example, with 43 observations we might choose the 11th smallest and 11th largest to obtain approximate estimates of the lower quartile and upper quartile. (Easier is to separately use the Quartile or Percentile Commands).

The descriptive statistics can be obtained separately by individual commands.

In addition one can find many more commands than appears in summary statistics.

Assume the data is in cells A2:A11. To obtain the sample mean and report it in, say, cell A13

either type in cell A13 the text = AVERAGE(A2:A11)

or we can do the following:

Click on cell A13 (this is where the result will be stored).

Select the Formulas Tab and the Function Library group

Click on Autosum

Choose function name AVERAGE

Enter A2:A11.

We should have 211942.9 in A13.

The following commands produce the same output as the default output for Tools | Data Analysis

Mean: = AVERAGE(A2:A11)

Standard error: = STDEV(A2:A11) / SQRT(COUNT(A2:A11))

Median: = MEDIAN(A2:A11)

Mean: = MODE(A2:A11)

Standard deviation: = STDEV(A2:A11)

Variance: = VAR(A2:A11)

Kurtosis: = KURT(A2:A11)

Skewness: = SKEW(A2:A11)

Range: = MAX(A2:A11) - MIN(A2:A11)

Maximum: = MAX(A2:A11)

Minimum: = MIN(A2:A11)

Sum: = SUM(A2:A11)

Count: = COUNT(A2:A11)

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