Question

An investment banking firm was
considering two spreadsheet software for possible use in its large
data analysis operations. A sample of 25 typical analysis problems
were carried out using both software on the firm’s standard
personal computer. The time in minutes needed to load the data,
program the spreadsheet calculations, carry out the analysis, and
print the results was recorded for each problem for each software.
**The data for software A are stored in column 1 of the Excel
data file named “Banking Spreadsheet.” The corresponding data for
software B are stored in column 2. Each of the rows corresponds to
one of the 25 problems. After constructing the 98% and 94%
confidence intervals for the mean of the differences in the minutes
taken by the two software, a data analyst for the company concluded
that there is no substantive difference between the two software in
terms of the speed with which they process the data.** In
other words, he thought the mean of the differences in the minutes
taken by the two software is statistically negligible. As a result
he decided to recommend software B because he thought it is more
user-friendly than software A. Using the same data, please
calculate and interpret the confidence intervals upon which the
analyst’s recommendation was based. Based on your results would you
agree with the analyst’s conclusion? Please justify your
answer.
[**4
points**]

Spreadsheet A | Spreadsheet B |

10 | 10 |

23 | 23 |

24 | 24 |

19 | 17 |

21 | 12 |

26 | 22 |

14 | 13 |

19 | 16 |

12 | 18 |

35 | 28 |

34 | 25 |

23 | 28 |

28 | 27 |

24 | 20 |

38 | 33 |

20 | 20 |

31 | 27 |

29 | 24 |

35 | 28 |

24 | 25 |

35 | 28 |

17 | 25 |

24 | 18 |

22 | 21 |

30 | 34 |

Answer #1

An investment banking firm was considering two spreadsheet
software for possible use in
its large data analysis operations. A sample of 20 typical
analysis problems were carried
out using both software on the firm’s standard personal
computer. The time in minutes
needed to load the data, program the spreadsheet calculations,
carry out the analysis, and
print the results was recorded for each problem for each
software. The data for software
A are stored in column 1 of the Excel data...

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calculations, carry out the analysis, and print the results was
recorded for each problem for each software. The data for software
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