Memo 3 Assignment
Homework Memo 3 AssignmentOne Sample Significance TestingInstructionsExcel Data file name: N/AInstructions: Follow the HW memo format as noted in the sample assignment. Use a questionnumber heading for each response. Respond with no more than one page, readable font 12points, and submit in Word only. Question 1Situation: A company conducted a simple survey to determine whether full-time employeeswere interested in a flexible pension plan. In the past, 35% of the employees expressed interestin such a plan. A random sample of 500 were asked to respond “yes” or “no” to such interest.Two hundred and ten (N = 210) employees were interested.Run a One Sample Test Z Test of Hypothesis for the Proportion significance test to determine ifinterest in a flexible pension plan varies from 35% of employees. Alpha is .05. Report andinterpret (explain) your results including the frequencies, percentages, and whether eachcondition (“yes” or “no”) has a minimum of 5 frequencies (40% of assignment points). Question 2Situation: A branch bank manager of a nation-wide reported that the average wait time in lineis less than 10 minutes. As part of a customer service audit, a sample of 150 wait times wererecorded for the bank branch in question. The sample mean wait time was 11 minutes. Thestandard deviation was 7 minutes. There is no known population standard deviation (sigma).For this problem, assume that the data are normally distributed. Run a One Sample Test, T-testfor the mean, sigma unknown. Do NOT use the two tail test. Is the mean wait time less than thereported 10 minute wait time? Alpha is .05. Report and interpret (explain) your results. Be sureto include the p-value. (60% of assignment points).
