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2 pages/≈550 words
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Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Coursework
Language:
English (U.S.)
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MS Word
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Topic:

Analysis of Variance and the Theory Wisdom of the Crowd

Coursework Instructions:

Topic 1.
What is the theory called the Wisdom of the Crowd?
What was different about the clipboards that students were holding?
State the null hypothesis for the one-way ANOVA.
What is the name of the test statistic that results from ANOVA?
Was the professor able to conclude from the F-statistic there were differences in populations depending on the weight of the clipboard? Explain.
Did the crowd prove to be wiser than the individual students? Explain.
Topic 2.
College students need better sleep! ANOVA. A random sample of 898 students between the ages of 20 and 24 at a large midwestern university completed a survey including questions about their sleep quality, moods, academic performance, physical health, and psychoactive drug use. Sleep quality was measured using the Pittsburgh Sleep Quality Index (PSQI), with students scoring less than or equal to 5 on the index classified as optimal sleepers, those scoring a 6 or 7 classified as borderline, and those scoring over 7 classified as poor sleepers. The depression subscale of the Profile of Moods State (POMS) was used to assess how severely students experienced depression on a typical day, with high scores indicating greater levels of depression. We want to know if there is a significant difference in depression scores among the three classifications of sleep.
Run the one-way ANOVA using the DEPRESSION.XLSX data set (See Getting Started or K live Material folder for this week). Be sure to check the assumptions underlying ANOVA and include an appropriate graph that displays the depression scores for the three quality of sleep groups. Write up the Results following the example in this weeks Kaltura Live slides. Then write up a Conclusion addressing the following points:
Explain why poor quality of sleep might cause depression.
Explain why depression might cause poor quality of sleep.
Explain the relationship could be cyclical.
Recommend an experiment that will prove that poor sleep quality causes depression.
Recommend an experiment that will prove that depression causes poor sleep quality?

Coursework Sample Content Preview:

Analysis of Variance
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Analysis of Variance Topic 1 The theory called “Wisdom of the Crowd” suggests that the average of a group’s guesses is likely to be more accurate than the individual guesses of the participants (Annenberg Learner, 2019). This means that there is a likelihood of the average value provided in the group to provide a better overall estimation due to the cancelling out of individual errors by members. The clipboards handed to the students differed in terms of weight due to storage compartments for extra paper. It is notable that the students were not aware of the weight differences in the clipboards. In this case, the null hypothesis for the one-way ANOVA was that the means of the population are the same, with the averages of three groups being compared being the same, indicating that the weight of the clipboards does not affect their estimation. The test statistic that results from ANOVA is the F-statistic that determines whether there are any statistically significant differences among three or more sample means. From the F statistic calculated in the ANOVA test the professor was not able to conclude from that there were differences in populations depending on the weight of the clipboard. The p-value obtained from the test was 0.45, which was higher than the usual threshold of significance (Annenberg Learner, 2019). As a result, the null hypothesis could not be rejected leading to the conclusion that there were significant differences between the population means of the groups.             In conclusion, the crowd proved to be wiser that the individual students. However, this was only limited due to the extreme variance of the individual guesses in most cases. It is notable that the average of the crowd’s guesses was $129.22, which was far off from the actual amount of $237.52 (Annenberg Learner, 2019). This indicates that the mean of the crowd’s guess was much better than the individual guesses that were mostly farfetched. Topic 2             The boxplot below shows the depression scores for the three quality of sleep groups enabling the identification of any potential di...
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