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Essentials Of Statistics For Business And Economics 7th Edition David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam - Solutions
A radio station in Myrtle Beach announced that at least 90% of the hotels and motels would be full for the Memorial Day weekend. The station advised listeners to make reservations in advance if they planned to be in the resort over the weekend. On Saturday night a sample of 58 hotels and motels
Consider the following hypothesis test:H0: μ ≥ 80H0: μ < 80A sample of 100 is used and the population standard deviation is 12. Compute the p-value and state your conclusion for each of the following sample results. Use α = .01.a. x = 78.5b. x = 77c. x = 75.5d. x = 81
Consider the following hypothesis test:H0: μ ≥ 50H0: μ < 50A sample of 60 is used and the population standard deviation is 8. Use the critical value approach to state your conclusion for each of the following sample results. Use α = .05.a. x = 52.5b. x = 51c. x = 51.8
Consider the following hypothesis test:H0: μ ≥ 22H0: μ < 22A sample of 75 is used and the population standard deviation is 10. Compute the p-value and state your conclusion for each of the following sample results. Use α = .01.a. x = 23b. x = 25.1c. x = 20
In a study entitled How Undergraduate Students Use Credit Cards, it was reported that undergraduate students have a mean credit card balance of $3,173 (Sallie Mae, April 2009). This figure was an all-time high and had increased 44% over the previous five years. Assume that a current study is being
The mean hourly wage for employees in goods-producing industries is currently $24.57 (Bureau of Labor Statistics website, April, 12, 2012). Suppose we take a sample of employees from the manufacturing industry to see if the mean hourly wage differs from the reported mean of $24.57 for the
Young millennials, adults aged 18 to 34, are viewed as the future of the restaurant industry. During 2011, this group consumed a mean of 192 restaurant meals per person (NPD Group website, November 7, 2012). Conduct a hypothesis test to determine if the poor economy has caused a change in the
Annual expenditure for prescription drugs was $838 per person in the Northeast region of the country (Hospital Care Cost Institute website, November 7, 2012). A sample of 60 individuals in the Midwest region showed a per person annual expenditure for prescription drugs of $745. Use a population
Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed in a mean time of 15 minutes or less. If a longer mean survey time is necessary, a premium rate is charged. A sample of 35 surveys provided the survey times shown in the file named
CCN and Act Media provided a television channel targeted to individuals waiting in super-market checkout lines. The channel showed news, short features, and advertisements. The length of the program was based on the assumption that the population mean time a shopper stands in a supermarket checkout
Consider the following hypothesis test:H0: μ ≤ 12H0: μ > 12A sample of 25 provided a sample mean x = 14 and a sample standard deviation s = 4.32.a. Compute the value of the test statistic.b. Use the t distribution table (Table 2 in Appendix B) to compute a range for the p-value.c. At α =
Consider the following hypothesis test:H0: μ ≤ 18H0: μ > 18A sample of 48 provided a sample mean x = 17 and a sample standard deviation s = 4.5.a. Compute the value of the test statistic.b. Use the t distribution table (Table 2 in Appendix B) to compute a range for the p-value.c. At α = .05,
Consider the following hypothesis test:H0: μ ≤ 45H0: μ > 45A sample of 36 is used. Identify the p-value and state your conclusion for each of the following sample results. Use α = .01.a. x = 44 and s = 5.2b. x = 43 and s = 4.6c. x = 46 and s = 5.0
Consider the following hypothesis test:H0: μ = 100H0: μ ≠ 100A sample of 65 is used. Identify the p-value and state your conclusion for each of the following sample results. Use α = .05.a. x = 103 and s = 11.5b. x = 96.5 and s = 11.0c. x = 102 and s = 10.5
A shareholders’ group, in lodging a protest, claimed that the mean tenure for a chief exective office (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal found a sample mean tenure of x = 7.27 years for CEOs with a standard deviation of s = 6.38 years (The
The national mean annual salary for a school administrator is $90,000 a year (The Cincinnati Enquirer, April 7, 2012). A school official took a sample of 25 school administrators in the state of Ohio to learn about salaries in that state to see if they differed from the national average.a.
The time married men with children spend on child care averages 6.4 hours per week (Time, March 12, 2012). You belong to a professional group on family practices that would like to do its own study to determine if the time married men in your area spend on child care per week differs from the
The Coca-Cola Company reported that the mean per capita annual sales of its beverages in the United States was 423 eight-ounce servings (Coca-Cola Company website, February 3, 2009). Suppose you are curious whether the consumption of Coca-Cola beverages is higher in Atlanta, Georgia, the location
According to the National Automobile Dealers Association, the mean price for used cars is $10,192. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this
Annual per capita consumption of milk is 21.6 gallons (Statistical Abstract of the United States: 2006). Being from the Midwest, you believe milk consumption is higher there and wish to support your opinion. A sample of 16 individuals from the midwestern town of Webster City showed a sample mean
Joan’s Nursery specializes in custom-designed landscaping for residential areas. The estimated labor cost associated with a particular landscaping proposal is based on the number of plantings of trees, shrubs, and so on to be used for the project. For cost- estimating purposes, managers use two
Consider the following hypothesis test:H0: p = .20H0: p ≠ .20A sample of 400 provided a sample proportion p = .175.a. Compute the value of the test statistic.b. What is the p-value?c. At α = .05, what is your conclusion?d. What is the rejection rule using the critical value? What is your
Consider the following hypothesis test:H0: p = .20H0: p ≠ .20A sample of 300 items was selected. Compute the p-value and state your conclusion for each of the following sample results. Use α = .05.a. p = .68b. p = .72c. p = .70d. p = .77
A study found that, in 2005, 12.5% of U.S. workers belonged to unions (The Wall Street Journal, January 21, 2006). Suppose a sample of 400 U.S. workers is collected in 2006 to determine whether union efforts to organize have increased union membership.a. Formulate the hypotheses that can be used to
According to the Pew Internet & American Life Project, 75% of American adults use the Internet (Pew Internet website, April 19, 2008). The Pew project authors also reported on the percentage of Americans who use the Internet by age group. The data in the file AgeGroup are consistent with their
In 2008, 46% of business owners gave a holiday gift to their employees. A 2009 survey of business owners indicated that 35% planned to provide a holiday gift to their employees (Radio WEZV, Myrtle Beach, SC, November 11, 2009). Suppose the survey results are based on a sample of 60 business
Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicate that the percentage is now 46% (The Wall Street Journal, October 5, 2012).a. Develop appropriate hypotheses such that rejection of h0 will support the conclusion
According to the University Of Nevada Center for Logistics Management, 6% of all merchandise sold in the United States gets returned (BusinessWeek, January 15, 2007). A Houston department store sampled 80 items sold in January and found that 12 of the items were returned.a. Construct a point
Eagle Outfitters is a chain of stores specializing in outdoor apparel and camping gear. They are considering a promotion that involves mailing discount coupons to all their credit card customers. This promotion will be considered a success if more than 10% of those receiving the coupons use them.
One of the reasons health care costs have been rising rapidly in recent years is the increasing cost of malpractice insurance for physicians. Also, fear of being sued causes doctors to run more precautionary tests (possibly unnecessary) just to make sure they are not guilty of missing something
The American Association of Individual Investors (AAII) conducts a weekly survey of its members to measure the percent who are bullish, bearish, and neutral on the stock market for the next six months. For the week ending November 7, 2012, the survey results showed 38.5% bullish, 21.6% neutral, and
A production line operates with a mean filling weight of 16 ounces per container. Overfilling or underfilling presents a serious problem and when detected requires the operator to shut down the production line to readjust the filling mechanism. From past data, a population standard deviation σ =
At Western University the historical mean of scholarship examination scores for fresh-man applications is 900. A historical population standard deviation σ = 180 is assumed known. Each year, the assistant dean uses a sample of applications to determine whether the mean examination score for the
Young children in the United States are exposed to an average of 4 hours of background television per day (CNN website, November 13, 2012). Having the television on in the background while children are doing other activities may have adverse consequences on a child’s well-being. You have a
On Friday, Wall Street traders were anxiously awaiting the federal government’s release of numbers on the January increase in nonfarm payrolls. The early consensus estimate among economists was for a growth of 250,000 new jobs (CNBC, February 3, 2006). However, a sample of 20 economists taken
Data released by the National Center for Health Statistics showed that the mean age at which women had their first child was 25.0 in 2006 (The Wall Street Journal, February 4, 2009). The reporter, Sue Shellenbarger, noted that this was the first decrease in the average age at which women had their
A recent issue of the AARP Bulletin reported that the average weekly pay for a woman with a high school degree is $520 (AARP Bulletin, January–February, 2010). Suppose you would like to determine if the average weekly pay for all working women is significantly greater than that for women with a
The chamber of commerce of a Florida Gulf Coast community advertises that area residential property is available at a mean cost of $125,000 or less per lot. Suppose a sample of 32 properties provided a sample mean of $130,000 per lot and a sample standard deviation of $12,500. Use a .05 level of
In Hamilton County, Ohio, the mean number of days needed to sell a house is 86 days (Cincinnati Multiple Listing Service, April, 2012). Data for the sale of 40 houses in a nearby county showed a sample mean of 80 days with a sample standard deviation of 20 days. Conduct a hypothesis test to
On December 25, 2009, an airline passenger was subdued while attempting to blow up a Northwest Airlines flight headed for Detroit, Michigan. The passenger had smuggled explosives hidden in his underwear past a metal detector at an airport screening facility. As a result, the Transportation Security
An airline promotion to business travelers is based on the assumption that two-thirds of business travelers use a laptop computer on overnight business trips.a. State the hypotheses that can be used to test the assumption.b. What is the sample proportion from an American Express sponsored survey
Virtual call centers are staffed by individuals working out of their homes. Most home agents earn $10 to $15 per hour without benefits versus $7 to $9 per hour with benefits at a traditional call center (BusinessWeek, January 23, 2006). Regional Airways is considering employing home agents, but
The unemployment rate for 18-to 34-year-olds was reported to be 10.8% (The Cincinnati Enquirer, November 6, 2012). Assume that this report was based on a random sample of four hundred 18- to 34-year-olds.a. A political campaign manager wants to know if the sample results can be used to conclude
In recent years more people have been working past the age of 65. In 2005, 27% of people aged 65–69 worked. A recent report from the Organization for Economic Cooperation and Development (OECD) claimed that percentage working had increased (USA today, November 16, 2012). The findings reported by
1. Conduct a hypothesis test for each sample at the .01 level of significance and determine what action, if any, should be taken. Provide the test statistic and p-value for each test.2. Compute the standard deviation for each of the four samples. Does the assumption of .21 for the population
Prepare a report for the dean of the college that summarizes your assessment of the nature of cheating by business students at Bayview University. Be sure to include the following items in your report.1. Use descriptive statistics to summarize the data and comment on your findings.2. Develop 95%
Consider the following hypothesis test.H0: μ1 – μ2 = 0H0: μ1 – μ2 = 0The following results are for two independent samples taken from the two populations.a. What is the value of the test statistic?b. What is the p-value?c. With α = .05, what is your hypothesis testing conclusion?
Refer to exercise.a. What hypotheses are implied in this problem?b. At the α = .05 level of significance, can we reject the null hypothesis in part (a)?Explain.
Safegate Foods, Inc., is redesigning the checkout lanes in its supermarkets throughout the country and is considering two designs. Tests on customer checkout times conducted at two stores where the two new systems have been installed result in the following summary of the data.Test at the .05 level
In a Good Housekeeping article, the organization reports that while washing machines have become more efficient in the last several years, washing machine manufacturers are finding it difficult to satisfy recently updated federal energy rules without sacrificing cleaning (Good Housekeeping website,
The average American consumed 10.6 pounds of mozzarella cheese in 2009 (U.S. Department of Agriculture, February 20, 2012). Do male and female consumers differ in the amounts of mozzarella cheese they consume? The average consumption in a survey of 35 male consumers was 12.9 pounds, and the average
Suppose that you are responsible for making arrangements for a business convention. Because of budget cuts due to the recent recession, you have been charged with choosing a city for the convention that has the least expensive hotel rooms. You have narrowed your choices to Atlanta and Houston. The
Consumer Reports uses a survey of readers to obtain customer satisfaction ratings for the nation’s largest retailers (Consumer Reports, March 2012). Each survey respondent is asked to rate a specified retailer in terms of six factors: quality of products, selection, value, checkout efficiency,
Will improving customer service result in higher stock prices for the companies providing the better service? “When a company’s satisfaction score has improved over the prior year’s results and is above the national average (currently 75.7), studies show its shares have a good chance of
Consider the following data for two independent random samples taken from two normal populations.a. Compute the two sample means.b. Compute the two sample standard deviations.c. What is the point estimate of the difference between the two population means?d. What is the 90% confidence interval
The average annual cost (including tuition, room, board, books, and fees) to attend a public college takes nearly a third of the annual income of a typical family with college age children (Money, April 2012). At private colleges, the average annual cost is equal to about 60% of the typical
Results of the 2011 Zagat Fast-Food Survey show Americans eat an average of 6.3 meals per month at fast-food chains. Suppose that in a follow-up study of 45 consumers in Oklahoma City and 55 consumers in Milwaukee you obtain the following results:a. Formulate a hypothesis so that, if the null
Commercial real estate prices and rental rates suffered substantial declines in 2008 and 2009 (Newsweek, July 27, 2009). These declines were particularly severe in Asia; annual lease rates in Tokyo, Hong Kong, and Singapore declined by 40% or more. Even with such large declines, annual lease rates
The College Board provided comparisons of Scholastic Aptitude Test (SAT) scores based on the highest level of education attained by the test taker’s parents. A research hypothesis was that students whose parents had attained a higher level of education would on average score higher on the
Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services. Higher ratings on the client satisfaction survey indicate better service, with 7 the maximum service rating. Independent samples of service ratings for two financial consultants are
Researchers at Purdue University and Wichita State University found that airlines are doing a better job of getting passengers to their destinations on time (Associated Press, April 2, 2012). AirTran Airways and Southwest Airlines were among the leaders in on-time arrivals, with both having 88% of
The following data are from matched samples taken from two populations.a. Compute the difference value for each element.b. Compute d.c. Compute the standard deviation sd.d. What is the point estimate of the difference between the two population means?e. Provide a 95% confidence interval for the
The price per share of stock for a sample of 25 companies was recorded at the beginning of 2012 and then again at the end of the 1st quarter of 2012 (The Wall Street Journal April 2, 2012). How stocks perform during the 1st quarter is an indicator of what is ahead for the stock market and the
Bank of America’s Consumer Spending Survey collected data on annual credit card charges in seven different categories of expenditures: transportation, groceries, dining out, household expenses, home furnishings, apparel, and entertainment. Using data from a sample of 42 credit card accounts,
The Global Business Travel Association reported the domestic airfare for business travel for the current year and the previous year (INC. Magazine, February 2012). Below is a sample of 12 flights with their domestic airfares shown for both years.a. Formulate the hypotheses and test for a
The College Board SAT college entrance exam consists of three parts: math, writing, and critical reading (The Wall Almanac, 2012). Sample data showing the math and writing scores for a sample of 12 students who took the SAT follow.a. Use a .05 level of significance and test for a difference between
Scores in the first and fourth (final) rounds for a sample of 20 golfers who competed in PGA tournaments are shown in the following table (Golfweek, February 14, 2009, and February 28, 2009). Suppose you would like to determine if the mean score for the first round of a PGA Tour event is
In an experiment designed to test the output levels of three different treatments, the following results were obtained: SST = 400, SSTR = 150, nT = 19. Set up the ANOVA table and test for any significant difference between the mean output levels of the three treatments. Use α = .05.
In a completely randomized design, 12 experimental units were used for the first treatment, 15 for the second treatment, and 20 for the third treatment. Complete the following analysis of variance. At a .05 level of significance, is there a significant difference between thetreatments?
Develop the analysis of variance computations for the following completely randomized design. At α = .05, is there a significant difference between the treatmentmeans?
Three different methods for assembling a product were proposed by an industrial engineer. To investigate the number of units assembled correctly with each method, 30 employees were randomly selected and randomly assigned to the three proposed methods in such a way that each method was used by 10
To study the effect of temperature on yield in a chemical process, five batches were produced at each of three temperature levels. The results follow. Construct an analysis of variance table. Use a .05 level of significance to test whether the temperature level has an effect on the mean yield of
Auditors must make judgments about various aspects of an audit on the basis of their own direct experience, indirect experience, or a combination of the two. In a study, auditors were asked to make judgments about the frequency of errors to be found in an audit. The judgments by the auditors were
Four different paints are advertised as having the same drying time. To check the manufacturer’s claims, five samples were tested for each of the paints. The time in minutes until the paint was dry enough for a second coat to be applied was recorded. The following data were obtained.At the
The Consumer Reports Restaurant Customer Satisfaction Survey is based upon 148,599 visits to full-service restaurant chains (Consumer Reports website). One of the variables in the study is meal price, the average amount paid per person for dinner and drinks, minus the tip. Suppose a reporter for
According to Bankrate.com, a navigation system is an expensive option that does not enhance the resale value of an automobile (Bankrate.com website, February 11, 2013). Use the data in the file Corolla Navigation, which contains recent resale prices for 40, 2009 Corolla XRS sedans that have
In an online report, Medscape Today News reported that anesthesiologists earned a mean income of $309,000 in 2011 (February 22, 2013). Compensation covers salary, bonus, and profit-sharing contributions. Are there regional differences in anesthesiologist’s compensation east of the Mississippi
Mutual funds are classified as load or no-load funds. Load funds require an investor to pay an initial fee based on a percentage of the amount invested in the fund. The no-load funds do not require this initial fee. Some financial advisors argue that the load mutual funds may be worth the extra fee
The National Association of Home Builders provided data on the cost of the most popular home remodeling projects. Sample data on cost in thousands of dollars for two types of remodeling projects are as follows.a. Develop a point estimate of the difference between the population mean remodeling
In early 2009, the economy was experiencing a recession. But how was the recession affecting the stock market? Shown are data from a sample of 15 companies. Shown for each company is the price per share of stock on January 1 and April 30 (The Wall Street Journal, May 1, 2009).a. What is the change
A study reported in the Journal of Small Business Management concluded that self-employed individuals do not experience higher job satisfaction than individuals who are not self-employed. In this study, job satisfaction is measured using 18 items, each of which is rated using a Likert-type scale
The U.S. Environmental Protection Agency (EPA) monitors levels of pollutants in the air for cities across the country. Ozone pollution levels are measured using a 500-point scale; lower scores indicate little health risk, and higher scores indicate greater health risk. The following data show the
The U.S. Census Bureau computes quarterly vacancy and homeownership rates by state and metropolitan statistical area. Each metropolitan statistical area (MSA) has at least one urbanized area of 50,000 or more inhabitants. The following data are the rental vacancy rates (%) for MSAs in four
Three different assembly methods have been proposed for a new product. A completely randomized experimental design was chosen to determine which assembly method results in the greatest number of parts produced per hour, and 30 workers were randomly selected and assigned to use one of the proposed
In a study conducted to investigate browsing activity by shoppers, each shopper was initially classified as a nonbrowser, light browser, or heavy browser. For each shopper, the study obtained a measure to determine how comfortable the shopper was in a store. Higher scores indicated greater comfort.
1. Use descriptive statistics to summarize the data from the two studies. What are your preliminary observations about the depression scores?2. Use analysis of variance on both data sets. State the hypotheses being tested in each case. What are your conclusions?3. Use inferences about individual
1. Use descriptive statistics to summarize the data.2. Develop a 95% confidence interval estimate of the mean annual salary for all sales-persons, regardless of years of experience and type of position.3. Develop a 95% confidence interval estimate of the mean salary for inside salespersons.4.
Consider the following hypothesis test.H0: p1 – p2 = 0Ha: p1 – p2 ≠0The following results are for independent samples taken from the two populations.a. What is the pooled estimate of p?b. What is the p-value?c. What is yourconclusion?
Forbes reports that women trust recommendations from Pinterest more than recommendations from any other social network platform (Forbes website, April 10, 2012). But does trust in Pinterest differ by gender? The following sample data show the number of women and men who stated in a recent sample
Researchers with Oceana, a group dedicated to preserving the ocean ecosystem, reported finding that 33% of fish sold in retail outlets, grocery stores, and sushi bars throughout the United States had been mislabeled (SAN Francisco Chronicle website, February 21, 2013). Does this mislabeling differ
Minnesota had the highest turnout rate of any state for the 2012 presidential election (United States Election Project website, February 9, 2013). Political analysts wonder if turnout in rural Minnesota was higher than turnout in the urban areas of the state. A sample shows that 663 of 884
Oil wells are expensive to drill, and dry wells are a great concern to oil exploration companies. The domestic oil and natural gas producer Aegis Oil, LLC describes on its website how improvements in technologies such as three-dimensional seismic imaging have dramatically reduced the number of dry
The Adecco Workplace Insights Survey sampled men and women workers and asked if they expected to get a raise or promotion this year (USA today, February 16, 2012). Suppose the survey sampled 200 men and 200 women. If 104 of the men replied Yes and 74 of the women replied Yes, are the results
Winter visitors are extremely important to the economy of Southwest Florida. Hotel occupancy is an often-reported measure of visitor volume and visitor activity (NaplesDaily News March 22, 2012). Hotel occupancy data for February in two consecutive years are as follows.a. Formulate the hypothesis
Reconsider the observed frequencies in exercise 11.a. Compute the sample proportion for each population.b. Use the multiple comparison procedure to determine which population proportions differ significantly. Use a .05 level ofsignificance.
The sample data below represent the number of late and on time flights for Delta, United, and US Airways (Bureau of Transportation Statistics, March 2012).a. Formulate the hypotheses for a test that will determine if the population proportion of late flights is the same for all three airlines.b.
Kate Sanders, a researcher in the department of biology at IPFW University, studied the effect of agriculture contaminants on the stream fish population in Northeastern Indiana (April 2012). Specially designed traps collected samples of fish at each of four stream locations. A research question
A tax preparation firm is interested in comparing the quality of work at two of its regional offices. The observed frequencies showing the number of sampled returns with errors and the number of sampled returns that were correct are as follows.a. What are the sample proportions of returns with
Social networking is becoming more and more popular around the world. Pew Research Center used a survey of adults in several countries to determine the percentage of adults who use social networking sites (USA today, February 8, 2012). Assume that the results for surveys in Great Britain, Israel,
A manufacturer is considering purchasing parts from three different suppliers. The parts received from the suppliers are classified as having a minor defect, having a major defect, or being good. Test results from samples of parts received from each of the three suppliers are shown below. Note that
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