If you choose 40 random employees from the corporation, the standard error would equal 6/Square root of 40 = .95 days. The 12 days in this department corresponds to (12-8.2)/.95 = 4 standard errors above the corporation average of 8.2. This is much higher than two or three standard errors, and it appears to be beyond chance variation. Chapter 9 Exercise 3 The p- value tells you how likely it would be to get results at least as extreme as this if there was no difference in the taste and only chance variation was operating. In this problem, p-value of 0.02 means that, if there is no difference in taste, then there is only 2% chance that 70% or more people would declare one drink better than the
Practice Test 4 –Bus 2023 Directions: For each question find the answer that is the best solution provided. There is only one correct answer. 1. For a sample size of 30, changing from using the standard normal distribution to using the t distribution in a hypothesis test, a. will result in the rejection region being smaller b. will result in the rejection region being larger c. would have no effect on the rejection region d. Not enough information is given to answer this question. ANSWER: a -recall that all the t-values are larger than the z-values so it makes it more difficult to reject the null.
For example. 127 is less than 128 so I cannot be subtracted. So you will put a zero and move that number over. Since 127 is greater than 64, you will subtract 64 from 128 and put a 1 for that value. Carry it over to the right.
Week Three Discussion Questions • Can the probability be more than 1 or less than 0? Explain why or why not. According to the Statistics for Business and Economics book, probabilities have to follow two basic rules and one of them is that the number has to be between 0 and 1. Therefore, the probability cannot be more than 1 and less than 0. • Based on the data collected on a typical day, what is the probability that oil change will take 15 minutes or less time?
(c) Determine the p-value. Show all work; writing the correct critical value, withoutsupporting work, will receive no credit. (d) Is there sufficient evidence to support the claim that the mean number of correctanswers after the class exceeds the mean number of correct answers before the class?Justify your conclusion. (20 pts) image501--- 24. A random sample of 4 professional athletes produced the following data where x is thenumber of endorsements the player has and y is the amount of money made (in millions ofdollars).
Test | Midterm Exam | Started | 2/5/13 2:51 PM | Submitted | 2/5/13 4:53 PM | Status | Completed | Score | 165 out of 200 points | Time Elapsed | 2 hours, 1 minute out of 4 hours. | Instructions | | Question 1 5 out of 5 points | | | Deterministic techniques assume that no uncertainty exists in model parameters. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | Question 2 5 out of 5 points | | | A continuous random variable may assume only integer values within a given interval. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 3 5 out of 5 points | | | A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 4 5 out of 5 points | | | A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 5 5 out of 5 points | | | Simulation results will always equal analytical results if 30 trials of the simulation have been conducted.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 6 5 out of 5 points | | | Excel can only be used to simulate systems that can be represented by continuous random variables.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 7 5 out of 5 points | | | Qualitative methods are the least common type of forecasting method for the long-term strategic planning process.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 8 5
TOPIC 8 Chi-Square goodness-of-fit test Problem 12.1 Use a chi-square goodness-of-fit to determine whether the observed frequencies are distributed the same as the expected frequencies (α = .05) Category | fo | fe | 1 | 53 | 68 | 2 | 37 | 42 | 3 | 32 | 33 | 4 | 28 | 22 | 5 | 18 | 10 | 6 | 15 | 8 | Step 1 Ho: The observed frequencies are distributed the same as the expected frequencies Ha: The observed frequencies are not distributed the same as the expected frequencies Step 2 df = k – m – 1 Step 3 α = 0.05 x 2 0.05, 5df = 11.0705 Step 4 Reject Ho if x 2 > 11.0705 Category | fo | fe | | 1 | 53 | 68 | | 2 | 37 | 42 | | 3 | 32 | 33 | | 4 | 28 | 22 | | 5 | 18 | 10 | | 6 | 15 | 8
QNT 561 Final Exam – Assignment 1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?
11) If a population distribution is skewed to the right, then given a random sample from that population, one would expect that the A. median is greater than the mean B. mode is equal to the mean C. median is less than the mean D. median is equal to the mean 12) Textbook Price Number of Textbooks $25 to $35 2 $35 to $45 16 $45 to $55 5 $55 to $65 7 $65 to $75 20 Estimate the standard deviation of the price of a textbook. A. 14.03 B. 33.85 C. 196.78 D. 729.00 13) Textbook Price Number of Textbooks $25 to $34.99 2 $35 to $44.99 16 $45 to $54.99 5 $55 to $64.99 7 $65 to $74.99 20 Estimate the mean price of a textbook. A.
1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?