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Statistics For Business And Economics 8th Edition Paul Newbold, William Carlson, Betty Thorne - Solutions

On the basis of a random sample the null hypothesis H0: μ = μ0 is tested against the alternative H1: μ > μ0 and the null hypothesis is not rejected at the 5% significance level. a. Does this necessarily imply that μ0 is contained in the 95% confidence interval for m? b. Does this necessarily
A company selling licenses for new e-commerce computer software advertises that firms using this software obtain, on average during the first year, a yield of 10% on their initial investments. A random sample of 10 of these franchises produced the following yields for the first year of
A process that produces bottles of shampoo, when operating correctly, produces bottles whose contents weigh, on average, 20 ounces. A random sample of nine bottles from a single production run yielded the following content weights (in ounces):21.4 19.719.7 20.6 20.8 20.1 19.7 20.3
A statistics instructor is interested in the ability of students to assess the difficulty of a test they have taken. This test was taken by a large group of students, and the average score was 78.5. A random sample of eight students was asked to predict this average score. Their predictions were as
A beer distributor claims that a new display featuring a life-size picture of a well-known rock singer will increase product sales in supermarkets by an average of 50 cases in a week. For a random sample of 20 high-volume liquor outlets, the average sales increase was 41.3 cases, and the sample
In contract negotiations a company claims that a new incentive scheme has resulted in average weekly earnings of at least $400 for all customer service workers.A union representative takes a random sample of 15 workers and finds that their weekly earnings have an average of $381.35 and a standard
A random sample of women is obtained, and each person in the sample is asked if she would purchase a new shoe model. The new shoe model would be successful in meeting corporate profit objective if more than 25% of the women in the population would purchase this shoe model. The following hypothesis
A company is attempting to determine if it should retain a previously popular shoe model. A random sample of women is obtained, and each person in the sample is asked if she would purchase this existing shoe model. To determine if the old shoe model should be retained, the following hypothesis test
John Stull, senior vice president of manufacturing, is seeking strong evidence to support his hope that new operating procedures have reduced the percentage of underfilled cereal packages from the Ames production line. State his null and alternative hypotheses and indicate the results that would
In a random sample of 361 owners of small businesses that had gone into bankruptcy, 105 reported conducting no marketing studies prior to opening the business. Test the hypothesis that at most 25% of all members of this population conducted no marketing studies before opening their businesses. Use
In a random sample of 998 adults in the United States, 17.3% of the sample members indicated some measure of disagreement with this statement: Globalization is more than an economic trade system-instead it includes institutions and culture. Test at the 5% level the hypothesis that at least 25% of
In a random sample of 160 business school students, 72 sample members indicated some measure of agreement with this statement: Scores on a standardized entrance exam are less important for a student's chance to succeed academically than is the student's high school GPA. Test the null hypothesis
Of a random sample of 199 auditors, 104 indicated some measure of agreement with this statement: Cash flow is an important indication of profitability. Test at the 10% significance level against a two-sided alternative the null hypothesis that one-half of the members of this population would agree
A random sample of 50 university admissions officers was asked about expectations in application interviews. Of these sample members, 28 agreed that the interviewer usually expects the interviewee to have volunteer experience doing community projects. Test the null hypothesis that one-half of all
Of a random sample of 172 elementary school educators, 118 said that parental support was the most important source of a child's success. Test the hypothesis that parental support is the most important source of a child's success for at least 75% of elementary school educators against the
A random sample of 202 business faculty members was asked if there should be a required foreign language course for business majors. Of these sample members, 140 felt there was a need for a foreign language course. Test the hypothesis that at least 75% of all business faculty members hold this
Consider a problem with the hypothesis testH0: µ = 5H1: µ > 5and the following decision rule:Compute the probability of Type II error and thepower for the following true population means.a. µ = 5.10b. µ = 5.03c. µ = 5.15d. µ = 5.07
Consider Example 9.6 with the null hypothesisH0: P = P0 = 0.50and the alternative hypothesisH0: P ‰ 0.50The decision rule iswith a sample size of n = 600. What is the probability of Type II error if the actual population proportion is each of the following?a. P = 0.52b. P = 0.58c. P =
A company that receives shipments of batteries tests a random sample of nine of them before agreeing to take a shipment. The company is concerned that the true mean lifetime for all batteries in the shipment should be at least 50 hours. From past experience it is safe to conclude that the
Many people in Europe object to purchasing genetically modified food that is produced by farmers in the United States. The U.S. farmers argue that there is no scientific evidence to conclude that these products are not healthy. The Europeans argue that there still might be a problem with the
A pharmaceutical manufacturer is concerned that the impurity concentration in pills does not exceed 3%. It is known that from a particular production run, impurity concentrations follow a normal distribution with standard deviation 0.4%. A random sample of 64 pills from a production run was
A random sample of 1,562 undergraduates enrolled in management ethics courses was asked to respond, on a scale from 1 (strongly disagree) to 7 (strongly agree), to this proposition: Senior corporate executives are interested in social justice. The sample mean response was 4.27, and the sample
A random sample of 802 supermarket shoppers determined that 378 shoppers preferred generic-brand items. Test at the 10% level the null hypothesis that at least one-half of all shoppers preferred genericbrand items against the alternative that the population proportion is less than one-half. Find
In a random sample of 998 adults in the United States, 17.3% of the sample members indicated some measure of disagreement with this statement: Globalization is more than an economic trade system-instead it includes institutions and culture.a. Test, at the 5% level, the null hypothesis that at least
Of a random sample of 199 auditors, 104 indicated some measure of agreement with this statement: Cash flow is an important indication of profitability.a. Test, at the 10% significance level against a two-sided alternative, the null hypothesis that one-half of the members of this population would
Each day, a fast-food chain tests that the average weight of its "two-pounders" is at least 32 ounces. The alternative hypothesis is that the average weight is less than 32 ounces, indicating that new processing procedures are needed. The weights of two-pounders can be assumed to be normally
A wine producer claims that the proportion of its customers who cannot distinguish its product from frozen grape juice is, at most, 0.09. The producer decides to test this null hypothesis against the alternative that the true proportion is more than 0.09. The decision rule adopted is to reject the
Test the hypothesesH0: σ2 . 100H1: σ2 > 100Using the following results from the following random samples.a. s2 = 165; n = 25 b. s2 = 165; n = 29 c. s2 = 159; n = 25d. s2 = 67; n = 38
At the insistence of a government inspector, a new safety device is installed in an assembly-line operation. After the installation of this device, a random sample of 8 days' output gave the following results for numbers of finished components produced:618 660 638 625 571 598 639 582Management is
Plastic sheets produced by a machine are periodically monitored for possible fluctuations in thickness. If the true variance in thicknesses exceeds 2.25 square millimeters, there is cause for concern about product quality.Thickness measurements for a random sample of 10 sheets produced in a
One way to evaluate the effectiveness of a teaching assistant is to examine the scores achieved by his or her students on an examination at the end of the course. Obviously, the mean score is of interest. However, the variance also contains useful information some teachers have a style that works
A company produces electric devices operated by a thermostatic control. The standard deviation of the temperature at which these controls actually operate should not exceed 2.0°F. For a random sample of 20 of these controls, the sample standard deviation of operating temperatures was 2.36°F.
An instructor has decided to introduce a greater component of independent study into an intermediate microeconomics course as a way of motivating students to work independently and think more carefully about the course material. A colleague cautions that a possible consequence may be increased
Explain carefully the distinction between each of the following pairs of terms. a. Null and alternative hypotheses b. Simple and composite hypotheses c. One-sided and two-sided alternatives d. Type I and Type II errors e. Significance level and power
Carefully explain what is meant by the p-value of a test, and discuss the use of this concept in hypothesis testing.
A random sample of 10 students contains the following observations, in hours, for time spent studying in the week before final exams:28 57 42 35 61 39 55 46 49 38Assume that the population distribution is normal.a. Find the sample mean and standard deviation.b. Test, at the 5% significance level,
State whether each of the following is true or false.a. The significance level of a test is the probability that the null hypothesis is false.b. A Type I error occurs when a true null hypothesis is rejected.c. A null hypothesis is rejected at the 0.025 level but is not rejected at the 0.01 level.
An insurance company employs agents on a commission basis. It claims that in their first-year agents will earn a mean commission of at least $40,000 and that the population standard deviation is no more than $6,000. A random sample of nine agents found for commission in the first year,where xi is
Supporters claim that a new windmill can generate an average of at least 800 kilowatts of power per day. Daily power generation for the windmill is assumed to be normally distributed with a standard deviation of 120 kilowatts. A random sample of 100 days is taken to test this claim against the
In a random sample of 545 accountants engaged in preparing county operating budgets for use in planning and control, 117 indicated that estimates of cash flow were the most difficult element of the budget to derive.a. Test at the 5% level the null hypothesis that at least 25% of all accountants
A random sample of 104 marketing vice presidents from large Fortune 500 corporations was questioned on future developments in the business environment.Of those sample members, 50 indicated some measurement of agreement with this statement: Firms will concentrate their efforts more on cash flow than
In a random sample of 99 National Basketball Association games, the home team won 57 games. Test the null hypothesis that the home team wins one-half of all games against the alternative that the home team wins a majority of games.
In a random sample of 150 business graduates 50 agreed or strongly agreed that businesses should focus their efforts on innovative e-commerce strategies.Test at the 5% level the null hypothesis that at most 25% of all business graduates would be in agreement with this assertion.
Of a random sample of 142 admissions counselors on college campuses 39 indicated that, on average, they spent 15 minutes or less studying each résumé. Test the null hypothesis that at most 20% of all admissions counselors spend this small amount of time studying résumés.
Northeastern Franchisers, Ltd., has a number of clients that use their process for producing exotic Norwegian dinners for customers throughout New England. The operating cost for the franchised process has a fixed cost of $1,000 per week plus $5 for every unit produced. Recently, a number of
Prairie Flower Cereal, Inc., has asked you to study the variability of the weights of cereal bags produced in plant 2, located in rural Malaysia. The package weights are known to be normally distributed. Using a random sample of n = 71, you find that the sample mean weight is 40 and the sample
You have been hired by the National Nutrition Council to study nutrition practices in the United States. In particular they want to know if their nutrition guidelines are being met by people in the United States. These guidelines indicate that per capita consumption of fruits and vegetables should
A recent report from a study of health concerns indicated that there is strong evidence of a nation's overall health decay if the percent of obese adults exceeds 28%. In addition, if the low-income preschool obesity rate exceeds 13%, there is great concern about long-term health. You are asked to
Big River, Inc., a major Alaskan fish processor, is attempting to determine the weight of salmon in the northwest Green River. A random sample of salmon was obtained and weighed. The data are stored in the file labeled Bigfish. Use a classical hypothesis test to determine if there is strong
A process produces cable for the local telephone company. When the process is operating correctly, cable diameter follows a normal distribution with mean 1.6 inches and standard deviation 0.05 inch. A random sample of 16 pieces of cable found diameters with a sample mean of 1.615 inches and a
A random sample is obtained from a population with variance σ2 = 625 and the sample mean is computed. Test the null hypothesis H0: μ = 100 versus the alternative hypothesis H1: μ > 100 with α = 0.05. Compute the critical value x-barc and state your decision rule for the following options.a.
When operating normally, a manufacturing process produces tablets for which the mean weight of the active ingredient is 5 grams, and the standard deviation is 0.025 gram. For a random sample of 12 tablets the following weights of active ingredient (in grams) were found:5.01 4.69 5.03 4.98 4.98 4.95
An insurance company employs agents on a commission basis. It claims that, in their first year, agents will earn a mean commission of at least $40,000 and that the population standard deviation is no more than $6,000. A random sample of nine agents found for commission in the first year, measured
A recent report from a health-concerns study indicated that there is strong evidence of a nation's overall health decay if the percent of obese adults exceeds 28%. In addition, if the low-income preschool obesity rate exceeds 13%, there is great concern about long-term health. You are asked to
A recent report from a health-concerns study indicated that there is strong evidence of a nation's overall health decay if the percent of obese adults exceeds 28%. In addition, if the low-income preschool obesity rate exceeds 13%, there is great concern about long-term health. You are asked to
The body mass index (variable BMI) provides an indication of a person's level of body fat as follows: healthy weight, 20-25; overweight, >25-30; obese, greater than 30. Excess body weight is, of course, related to diet, but, in turn, what we eat depends on who we are in terms of culture and our
The body mass index (variable BMI) provides an indication of a person's level of body fat as follows: healthy weight, 20-25; overweight, >25-30; obese, greater than 30. Excess body weight is, of course, related to diet, but, in turn, what we eat depends on who we are in terms of culture and our
The body mass index (variable BMI) provides an indication of a person's level of body fat as follows: healthy weight, 20-25; overweight, >25-30; obese, greater than 30. Excess body weight is, of course, related to diet, but, in turn, what we eat depends on who we are in terms of culture and our
The body mass index (variable BMI) provides an indication of a person's level of body fat as follows: healthy weight, 20-25; overweight, >25-30; obese, greater than 30. Excess body weight, is of course, related to diet, but, in turn, what we eat depends on who we are in terms of culture and our
The body mass index (variable BMI) provides an indication of a person's level of body fat as follows: healthy weight, 20-25; overweight, >25-30; obese, greater than 30. Excess body weight, is of course, related to diet, but, in turn, what we eat depends on who we are in terms of culture and our
A random sample of n = 25 is obtained from a population with variance σ2, and the sample mean is computed. Test the null hypothesis H0: μ = 100 versus the alternative hypothesis H1: μ > 100 with α = 0.05. Compute the critical value x-barc and state your decision rule for the following
A random sample is obtained from a population with a variance of σ2 = 400, and the sample mean is computed to be x-barc = 70. Consider the null hypothesis H0: μ = 80 versus the alternative hypothesis H1: μ < 6 80. Compute the p-value for the following options.a. Sample size n = 25b. Sample
You have been asked to determine if two different production processes have different mean numbers of units produced per hour. Process 1 has a mean defined as µ1 and process 2 has a mean defined as µ2. The null and alternative hypotheses are as follows:H0: µ1 - µ2 = 0H1: µ1 – µ2 > 0Using
A political science professor is interested in comparing the characteristics of students who do and do not vote in national elections. For a random sample of 114 students who claimed to have voted in the last presidential election, she found a mean grade point average of 2.71 and a standard
In light of a recent large corporation bankruptcy, auditors are becoming increasingly concerned about the possibility of fraud. Auditors might be helped in determining the chances of fraud if they carefully measure cash flow. To evaluate this possibility, samples of midlevel auditors from CPA firms
The recent financial collapse has led to considerable concern about the information provided to potential investors. The government and many researchers have pointed out the need for increased regulation of financial offerings. The study in this exercise concerns the effect of sales forecasts on
A publisher is interested in the effects on sales of college texts that include more than 100 data files. The publisher plans to produce 20 texts in the business area and randomly chooses 10 to have more than 100 data files. The remaining 10 are produced with at most 100 data files. For those with
Test the hypothesesH0: Px – Py = 0H1: Px – Py < 0using the following statistics from random samples.a. p`x = 0.42, nx = 500; p`y = 0.50, ny = 600 b. p`x = 0.60, nx = 500; p`y = 0.64, ny = 600 c. p`x = 0.42, nx = 500; p`y = 0.49, ny = 600 d. p`x = 0.25, nx = 500; p`y = 0.34, ny = 600 e. p`x =
Random samples of 900 people in the United States and in Great Britain indicated that 60% of the people in the United States were positive about the future economy, whereas 66% of the people in Great Britain were positive about the future economy. Does this provide strong evidence that the people
A random sample of 1,556 people in country A were asked to respond to this statement: Increased world trade can increase our per capita prosperity. Of these sample members, 38.4% agreed with the statement. When the same statement was presented to a random sample of 1,108 people in country B, 52.0%
Small-business telephone users were surveyed 6 months after access to carriers other than AT&T became available for wide-area telephone service. Of a random sample of 368 users, 92 said they were attempting to learn more about their options, as did 37 of an independent random sample of 116
Employees of a building materials chain facing a shutdown were surveyed on a prospective employee ownership plan. Some employees pledged $10,000 to this plan, putting up $800 immediately, while others indicated that they did not intend to pledge. Of a random sample of 175 people who had pledged, 78
Of a random sample of 381 high-quality investment equity options, 191 had less than 30% debt. Of an independent random sample of 166 high-risk investment equity options, 145 had less than 30% debt. Test, against a two-sided alternative, the null hypothesis that the two population proportions are
You have been asked to determine if two different production processes have different mean numbers of units produced per hour. Process 1 has a mean defined as m1 and process 2 has a mean defined as m2. The null and alternative hypotheses are as follows:H0: µ1 – µ2 ≥ 0H1: µ1 – µ2 <
Two different independent random samples of consumers were asked about satisfaction with their computer system each in a slightly different way. The options available for answer were slightly different in the two cases. When asked how satisfied they were with their computer system, 138 of the first
Of a random sample of 1,200 people in Denmark, 480 had a positive attitude toward car salespeople. Of an independent random sample of 1,000 people in France, 790 had a positive attitude toward car salespeople.Test, at the 1% level the null hypothesis that the population proportions are equal,
Test the hypothesisH0: σ2x = σ2yH1: σ2x > σ2yusing the following data.a. s2x = 125, ny = 45; s2y = 51, ny = 41b. s2x = 125, ny = 45; s2y = 235, ny = 44c. s2x = 134, ny = 48; s2y = 51, ny = 41d. s2x = 88, ny = 39; s2y = 167, ny = 25
It is hypothesized that the more expert a group of people examining personal income tax filings, the more variable the judgments will be about the accuracy. Independent random samples, each of 30 individuals, were chosen from groups with different levels of expertise. The low-expertise group
It is hypothesized that the total sales of a corporation should vary more in an industry with active price competition than in one with duopoly and tacit collusion.In a study of the merchant ship production industry it was found that in 4 years of active price competition, the variance of company
In light of a number of recent large-corporation bankruptcies, auditors are becoming increasingly concerned about the possibility of fraud. Auditors might be helped in determining the chances of fraud if they carefully measure cash flow. To evaluate this possibility, samples of midlevel auditors
A publisher is interested in the effects on sales of college texts that include more than 100 data files. The publisher plans to produce 20 texts in the business area and randomly chooses 10 to have more than 100 data files. The remaining 10 are produced with at most 100 data files. For those with
A university research team was studying the relationship between idea generation by groups with and without a moderator. For a random sample of four groups with a moderator, the mean number of ideas generated per group was 78.0, and the standard deviation was 24.4. For a random sample of four
In a study of performance ratings of ex-smokers, a random sample of 34 ex-smokers had a mean rating of 2.21 and a sample standard deviation of 2.21. For an independent random sample of 86 long-term ex-smokers, the mean rating was 1.47 and the sample standard deviation was 1.69. Find the lowest
In a study comparing banks in Germany and Great Britain, a sample of 145 matched pairs of banks was formed. Each pair contained one bank from Germany and one from Great Britain. The pairings were made in such a way that the two members were as similar as possible in regard to such factors as size
Independent random samples of business managers and college economics faculty were asked to respond on a scale from 1 (strongly disagree) to 7 (strongly agree) to this statement: Grades in advanced economics are good indicators of students' analytical skills. For a sample of 70 business managers,
Independent random samples of bachelor's and master's degree holders in statistics, whose initial job was with a major actuarial firm and who subsequently moved to an insurance company, were questioned.For a sample of 44 bachelor's degree holders, the mean number of months before the first job
A study was aimed at assessing the effects of group size and group characteristics on the generation of advertising concepts. To assess the influence of group size, groups of four and eight members were compared. For a random sample of four-member groups, the mean number of advertising concepts
You have been hired by the National Nutrition Council to study nutrition practices in the United States. In particular they want to know if their nutrition guidelines are being met by people in the United States. These guidelines indicate that per capita consumption of fruits and vegetables should
A recent report from a health concerns study indicated that there is strong evidence of a nation's overall health decay if the percent of obese adults exceeds 28%. In addition, if the low-income preschool obesity rate exceeds 13%, there is great concern about long-term health. You are asked to
Independent random samples of business and economics faculty were asked to respond on a scale from 1 (strongly disagree) to 4 (strongly agree) to this statement: The threat and actuality of takeovers of publicly held companies provide discipline for boards and managers to maximize the value of the
Independent random samples of patients who had received knee and hip replacement were asked to assess the quality of service on a scale from 1 (low) to 7 (high). For a sample of 83 knee patients, the mean rating was 6.543 and the sample standard deviation was 0.649. For a sample of 54 hip patients,
Of a random sample of 148 accounting majors, 75 rated a sense of humor as a very important trait to their career performance. This same view was held by 81 of an independent random sample of 178 finance majors.a. Test, at the 5% level, the null hypothesis that at least one-half of all finance
Aimed at finding substantial earnings decreases, a random sample of 23 firms with substantial earnings decreases showed that the mean return on assets 3 years previously was 0.058 and the sample standard deviation was 0.055. An independent random sample of 23 firms without substantial earnings
Random samples of employees were drawn in fast-food restaurants where the employer provides a training program. Of a sample of 67 employees who had not completed high school, 11 had participated in a training program provided by their current employer. Of an independent random sample of 113
You have been asked to conduct a national study of urban home selling prices to determine if there has been an increase in selling prices over time. There has been some concern that housing prices in major urban areas have not kept up with inflation over time. Your study will use data collected
Of a random sample of 69 health insurance firms, 47 did public relations in-house, as did 40 of an independent random sample of 69 casualty insurance firms. Find and interpret the p-value of a test of equality of the population proportions against a two-sided alternative.
Independent random samples were taken of male and female clients of University Entrepreneurship Centers. These clients were considering starting a business. Of 94 male clients, 53 actually started a business venture, as did 47 of 68 female clients. Find and interpret the p-value of a test of
A recent report from a health concerns study indicated that there is strong evidence of a nation's overall health decay if the percent of obese adults exceeds 28%. In addition, if the low-income preschool obesity rate exceeds 13%, there is great concern about long-term health. You are asked to
National education officials are concerned that there may be a large number of low-income students who are eligible for free lunches in their schools. They also believe that the percentage of students eligible for free lunches is larger in rural areas. As part of a larger research study, you have
You are in charge of rural economic development in a rapidly developing country that is using its newfound oil wealth to develop the entire country. As part of your responsibility you have been asked to determine if there is evidence that the new rice-growing procedures have increased output per

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