In financial analysis Financial Analyst Job Description The financial analyst job description below gives a typical example of all the skills, education, and experience required to be hired for an analyst job at a bank, institution, or corporation. The function is commonly used to test the probability of two samples that have underlying populations with the same mean. It will calculate the probability that is associated with a Student’s T-Test. This cheat sheet covers 100s of functions that are critical to know as an Excel analyst. Those who had the silver tequila rated it an average 9.The T-TEST Function is categorized under Excel Statistical functions Functions List of the most important Excel functions for financial analysts. Using the confidence interval, critical value, or p-value approach (all of which you performed in the above questions), which of the following would be the correct finding from your test of any difference between the ratings using a 5% significance level? Hint: Things you will need to know: alpha, df, is this a one or two-tailed test, and which table to use! Use your calculated test statistic and the appropriate table to find the correct range for the p-value for the specified test. Hint: Things you will need to know: alpha, df, is this a one or two-tailed test, and which table to us. Use the tables given to you in class and round your final answer to 3 decimals. The key is to identify what we know (or do not know) about the population standard deviations or variance.įind and enter the absolute value of the correct critical value needed to test your claim at the 5% significance level. Hint: Make sure you are using the correct formula based on the information given in the problem. Which of the following would be the correct interpretation of the calculated 99% confidence interval ?Ĭalculate the appropriate test statistic needed to test if people rate the two types differently at the 5% significance level. The key is to identify what we know (or do not know) about the population standard deviations or variances. Use the information given in the problem to calculate the appropriate 95% confidence interval. Which of the following would be the correct alternative hypothesis if Casamigos were testing for any difference between the ratings? Let the silver tequila be population 1 and the gold tequila be population 2.
The known population variance for silver tequila is 0.38 and for gold tequila it is 0.76. Those who had the silver tequila rated it an average 9.49, while those who had the gold tequila rated it an average 9.17. Within the group, 275 of the participants were given the silver tequila, and 225 were given the gold tequila. Each of the participants were asked to rate the tequila on a scale from 1 to 10, with 1 being the worst and 10 being the best tequila they had ever had. To test their claim, they conduct a focus group with 500 participants. If they find a statistically significant difference between the two, they will be able to charge a higher price for the higher rated type of tequila. They want to see if people rate the two types differently. The Casamigos tequila company produces two different types of tequila, silver and gold. Hint: It might be helpful to create a new sheet and move the United States to it so you can keep the two groups separate. Use Excel, specifically the Descriptive Statistics part of the Data Analysis tool pack, to find the following information.
Please reference it if you get stuck or visit office hours! All of this is covered in the Intro Lab video you were required to watch. Note that you will need to separate the United States data from the rest of the countries (move it to a new column or something). This will require you to get descriptive statistics using the Data Analysis tool pack and then use Excel as a calculator.
RUN HYPOTHESIS TEST IN EXCEL FOR MAC DOWNLOAD
Use the data below to answer the following questions pertaining to these two tasks using a significance level of 5%.įor this question, you will need to download the GDP and Suicide Data and then use the data analysis tool pack in Excel to get the various numbers. You are interested in testing if the GDP per capita in the United States is different than the average of all other countries.
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