For Proff Farell

What role can a picture of the shaded alpha and p-value do in helping us on hypothesis test of problems?In terms of the statement for the null and alternative…..1) Are they always mutually exclusive statements? 2) The null always contain the equality statement ( =, >=, =<)3) What is the significance of the sign (<>, <, > ) in the alternative statement with regard to the sign in front of the critical and test stat ( + or – ) ? Variance is a measure that we call an unbiased estimator. There are two others that are very well known. What are they? What do we mean by the term unbiased estimator? How do we relate the following? critical stat and alpha? test stat and p-value? How does the t test compare to the z test? What about the F test and Chi Square? Problem Set Week TwoThe assignment for this week involves developing an understanding of the problem and the data that we will be analyzing during the class.  We will be using a data set of 50 employees sampled from an imaginary company to answer the question of whether males and females receive equal pay for performing equal work.The questions in the assignment follow the examples provided in the weekly guidance lectures.The first question this week focuses on the kind of data we have.  Different levels of data allow us to do different kinds of analysis, so we need to understand what we have to work with.  Question two involves developing the probability of randomly picking a student who has certain characteristics from the sample. Question three involves finding the probability of randomly picked employees falling within the top one-third of different groups using Excel functions.  Question four and five involve using statistical tests to determine if the compa-ratio (an alternate measure of pay).The final question asks for an interpretation of your opinion on the question of equal pay for equal work based on the work done this week.Both the assignment file and the data file are located in the Course Materials section at the bottom in the Multi-Media section.  The assignment file contains all of the weekly assignments (for Weeks 2, 3, and 4). See the labeled tabs at the bottom of the Excel assignment file.  The data in the data file needs to be copied over into the assignment file, and you will be set for the entire class.  *Ask questions if it is not clear how to move the data from one file to the other.