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Statistics For Business And Economics 10th Edition David R. Anderson, Dennis J. Sweeney, Thomas A. Williams - Solutions

35. Consider the following hypothesis test: Ho: p = .20 Ha: P.20 A 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 a = .05, what is your conclusion? d. What is the rejection rule using the critical value? What is your
34. 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
33. 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
32. 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
31. Raftelis Financial Consulting reported that the mean quarterly water bill in the United States is $47.50 (U.S. News &World Report, August 12, 2002). Some water systems are operated by public utilities, whereas other water systems are operated by private companies.An economist pointed out that
30. AOL Time Warner Inc.’s CNN has been the longtime ratings leader of cable television news. Nielsen Media Research indicated that the mean CNN viewing audience was 600,000 viewers per day during 2002 (The Wall Street Journal, March 10, 2003). Assume that for a sample of 40 days during the first
29. The cost of a one-carat VS2 clarity, H color diamond from Diamond Source USA is $5600(www.diasource.com, March 2003). A midwestern jeweler makes calls to contacts in the diamond district of New York City to see whether the mean price of diamonds there differs from $5600.a. Formulate hypotheses
28. The National Association of Professional Baseball Leagues, Inc., reported that attendance for 176 minor league baseball teams reached an all-time high during the 2001 season (New York Times, July 28, 2002). On a per-game basis, the mean attendance for minor league baseball was 3530 people per
27. The Employment and Training Administration reported the U.S. mean unemployment insurance benefit of $238 per week (The World Almanac, 2003). A researcher in the state of Virginia anticipated that sample data would show evidence that the mean weekly unemployment insurance benefit in Virginia was
26. Consider the following hypothesis test: Ho: = 100 Ha: 100 A sample of 65 is used. Identify the p-value and state your conclusion for each of the fol- lowing sample results. Use a = .05. a. 103 and s = 11.5 b. 96.5 and s = 11.0 C. x=102 and s = 10.5
25. Consider the following hypothesis test: Ho: 45 Ha: < 45 A sample of 36 is used. Identify the p-value and state your conclusion for each of the fol- lowing sample results. Use a = .01. 44 and s = 5.2 a. b. 43 and s = 4.6 C. x=46 and s = 5.0
24. Consider the following hypothesis test: Ho: = 18 Hau 18 A sample of 48 provided a sample mean = 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 a = .05,
23. Consider the following hypothesis test:Asample of 25 provided a sample mean 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 .05, what is your conclusion?d.
22. CCN and ActMedia provided a television channel targeted to individuals waiting in supermarket 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
21. 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 CD file
20. For the United States, the mean monthly Internet bill is $32.79 per household (CNBC, January 18, 2006). A sample of 50 households in a southern state showed a sample mean of $30.63. Use a population standard deviation of $5.60.a. Formulate hypotheses for a test to determine whether the
19. In 2001, the U.S. Department of Labor reported the average hourly earnings for U.S. production workers to be $14.32 per hour (The World Almanac 2003). A sample of 75 production workers during 2003 showed a sample mean of $14.68 per hour. Assuming the population standard deviation σ $1.45,
18. The average annual total return for U.S. Diversified Equity mutual funds from 1999 to 2003 was 4.1% (Business Week, January 26, 2004). A researcher would like to conduct a hypothesis test to see whether the returns for mid-cap growth funds over the same period are significantly different from
17. Wall Street securities firms paid out record year-end bonuses of $125,500 per employee for 2005 (Fortune, February 6, 2006). Suppose we would like to take a sample of employees at the Jones & Ryan securities firm to see whether the mean year-end bonus is different from the reported mean of
16. Reis, Inc., a New York real estate research firm, tracks the cost of apartment rentals in the United States. In mid-2002, the nationwide mean apartment rental rate was $895 per month(The Wall Street Journal, July 8, 2002). Assume that, based on the historical quarterly surveys, a population
15. Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. Consider the population of “last-minute” filers who mail their tax return during the last five days of the income tax period (typically April 10 to April 15).a. A researcher suggests that a
14. Consider the following hypothesis test:A 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. Ho: = 22 u Ha 22
13. Consider the following hypothesis test:A 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. Ho: 50 Ha: > 50 u
12. Consider the following hypothesis test:A 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. Ho: 80 < 80
11. Consider the following hypothesis test:A sample of 50 provided a sample mean of 14.15. The population standard deviation is 3.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
10. Consider the following hypothesis test:A sample of 40 provided a sample mean of 26.4. The population standard deviation is 6.a. Compute the value of the test statistic.b. What is the p-value?c. At α .01, what is your conclusion?d. What is the rejection rule using the critical value? What is
9. Consider the following hypothesis test:A sample of 50 provided a sample mean of 19.4. The population standard deviation is 2.a. Compute the value of the test statistic.b. What is the p-value?c. Using α .05, what is your conclusion?d. What is the rejection rule using the critical value? What is
8. Suppose a new production method will be implemented if a hypothesis test supports the conclusion that the new method reduces the mean operating cost per hour.a. State the appropriate null and alternative hypotheses if the mean cost for the current production method is $220 per hour.b. What is
7. Carpetland salespersons average $8000 per week in sales. Steve Contois, the firm’s vice president, proposes a compensation plan with new selling incentives. Steve hopes that the results of a trial selling period will enable him to conclude that the compensation plan increases the average sales
6. The label on a 3-quart container of orange juice claims that the orange juice contains an average of 1 gram of fat or less. Answer the following questions for a hypothesis test that could be used to test the claim on the label.a. Develop the appropriate null and alternative hypotheses.b. What is
5. Nielsen reported that young men in the United States watch 56.2 minutes of prime-time TV daily (The Wall Street Journal Europe, November 18, 2003). Aresearcher believes that young men in Germany spend more time watching prime-time TV. Asample of German young men will be selected by the
4. Because of high production-changeover time and costs, a director of manufacturing must convince management that a proposed manufacturing method reduces costs before the new method can be implemented. The current production method operates with a mean cost of$220 per hour. A research study will
3. A production line operation is designed to fill cartons with laundry detergent to a mean weight of 32 ounces. Asample of cartons is periodically selected and weighed to determine whether underfilling or overfilling is occurring. If the sample data lead to a conclusion of underfilling or
2. The manager of an automobile dealership is considering a new bonus plan designed to increase sales volume. Currently, the mean sales volume is 14 automobiles per month. The manager wants to conduct a research study to see whether the new bonus plan increases sales volume. To collect data on the
1. The manager of the Danvers-Hilton Resort Hotel stated that the mean guest bill for a weekend is $600 or less. Amember of the hotel’s accounting staff noticed that the total charges for guest bills have been increasing in recent months. The accountant will use a sample of weekend guest bills to
60. Although airline schedules and cost are important factors for business travelers when choosing an airline carrier, a USA Today survey found that business travelers list an airline’s frequent flyer program as the most important factor. From a sample of n 1993 business travelers who responded
59. In a survey, 200 people were asked to identify their major source of news information; 110 stated that their major source was television news.a. Construct a 95% confidence interval for the proportion of people in the population who consider television their major source of news information.b.
58. A well-known bank credit card firm wishes to estimate the proportion of credit card holders who carry a nonzero balance at the end of the month and incur an interest charge.Assume that the desired margin of error is .03 at 98% confidence.a. How large a sample should be selected if it is
57. The 2003 Statistical Abstract of the United States reported the percentage of people 18 years of age and older who smoke. Suppose that a study designed to collect new data on smokers and nonsmokers uses a preliminary estimate of the proportion who smoke of .30.a. How large a sample should be
56. Cincinnati/Northern Kentucky International Airport had the second highest on-time arrival rate for 2005 among the nation’s busiest airports (The Cincinnati Enquirer, February 3, 2006). Assume the findings were based on 455 on-time arrivals out of a sample of 550 flights.a. Develop a point
55. Which would be hardest for you to give up: Your computer or your television? In a recent survey of 1677 U.S. Internet users, 74% of the young tech elite (average age of 22) say their computer would be very hard to give up (PC Magazine, February 3, 2004). Only 48%say their television would be
54. AUSA Today/CNN/Gallup survey of 369 working parents found 200 who said they spend too little time with their children because of work commitments.a. What is the point estimate of the proportion of the population of working parents who feel they spend too little time with their children because
53. The National Center for Education Statistics reported that 47% of college students work to pay for tuition and living expenses. Assume that a sample of 450 college students was used in the study.a. Provide a 95% confidence interval for the population proportion of college students who work to
52. Annual salary plus bonus data for chief executive officers are presented in the BusinessWeek Annual Pay Survey. Apreliminary sample showed that the standard deviation is $675 with data provided in thousands of dollars. How many chief executive officers should be in a sample if we want to
51. In developing patient appointment schedules, a medical center wants to estimate the mean time that a staff member spends with each patient. How large a sample should be taken if the desired margin of error is two minutes at a 95% level of confidence? How large a sample should be taken for a 99%
50. Mileage tests are conducted for a particular model of automobile. If a 98% confidence interval with a margin of error of 1 mile per gallon is desired, how many automobiles should be used in the test? Assume that preliminary mileage tests indicate the standard deviation is 2.6 miles per gallon.
49. A survey by Accountemps asked a sample of 200 executives to provide data on the number of minutes per day office workers waste trying to locate mislabeled, misfiled, or misplaced items. Data consistent with this survey are contained in the data set ActTemps.a. Use ActTemps to develop a point
48. US Airways conducted a number of studies that indicated a substantial savings could be obtained by encouraging Dividend Miles frequent flyer customers to redeem miles and schedule award flights online (US Airways Attaché, February 2003). One study collected data on the amount of time required
47. Many stock market observers say that when the P/E ratio for stocks gets over 20 the market is overvalued. The P/E ratio is the stock price divided by the most recent 12 months of earnings.Suppose you are interested in seeing whether the current market is overvalued and would also like to know
46. The motion picture Harry Potter and the Sorcerer’s Stone shattered the box office debut record previously held by The Lost World: Jurassic Park (The Wall Street Journal, November 19, 2001). A sample of 100 movie theaters showed that the mean three-day weekend gross was $25,467 per theater.
45. Asurvey conducted by the American Automobile Association showed that a family of four spends an average of $215.60 per day while on vacation. Suppose a sample of 64 families of four vacationing at Niagara Falls resulted in a sample mean of $252.45 per day and a sample standard deviation of
44. A sample survey of 54 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.77 (AAII Journal, February 2006). The survey is conducted annually. With the historical data available, assume a known population standard deviation of $15.a. Using the
43. APhoenix Wealth Management/Harris Interactive survey of 1500 individuals with net worth of $1 million or more provided a variety of statistics on wealthy people (BusinessWeek, September 22, 2003). The previous three-year period had been bad for the stock market, which motivated some of the
42. A USA Today/CNN/Gallup poll for the presidential campaign sampled 491 potential voters in June (USA Today, June 9, 2000). A primary purpose of the poll was to obtain an estimate of the proportion of potential voters who favor each candidate. Assume a planning value of p* .50 and a 95%
41. America’s young people are heavy Internet users; 87% of Americans ages 12 to 17 are Internet users (The Cincinnati Enquirer, February 7, 2006). MySpace was voted the most popular Web site by 9% in a sample survey of Internet users in this age group. Suppose 1400 youths participated in the
40. The professional baseball home run record of 61 home runs in a season was held for 37 years by Roger Maris of the New York Yankees. However, between 1998 and 2001, three players—Mark McGwire, Sammy Sosa, and Barry Bonds—broke the standard set by Maris, with Bonds holding the current record
39. The percentage of people not covered by health care insurance in 2003 was 15.6% (Statistical Abstract of the United States, 2006). A congressional committee has been charged with conducting a sample survey to obtain more current information.a. What sample size would you recommend if the
38. According to Thomson Financial, through January 25, 2006, the majority of companies reporting profits had beaten estimates (BusinessWeek, February 6, 2006). A sample of 162 companies showed 104 beat estimates, 29 matched estimates, and 29 fell short.a. What is the point estimate of the
37. Towers Perrin, a New York human resources consulting firm, conducted a survey of 1100 employees at medium-sized and large companies to determine how dissatisfied employees were with their jobs (The Wall Street Journal, January 29, 2003). Representative data are shown in the file
36. According to statistics reported on CNBC, a surprising number of motor vehicles are not covered by insurance (CNBC, February 23, 2006). Sample results, consistent with the CNBC report, showed 46 of 200 vehicles were not covered by insurance.a. What is the point estimate of the proportion of
35. Asurvey of 611 office workers investigated telephone answering practices, including how often each office worker was able to answer incoming telephone calls and how often incoming telephone calls went directly to voice mail (USA Today, April 21, 2002). Atotal of 281 office workers indicated
34. At 95% confidence, how large a sample should be taken to obtain a margin of error of .03 for the estimation of a population proportion? Assume that past data are not available for developing a planning value for p*.
33. In a survey, the planning value for the population proportion is p* .35. How large a sample should be taken to provide a 95% confidence interval with a margin of error of .05?
32. A simple random sample of 800 elements generates a sample proportion .70.a. Provide a 90% confidence interval for the population proportion.b. Provide a 95% confidence interval for the population proportion.
31. A simple random sample of 400 individuals provides 100 Yes responses.a. What is the point estimate of the proportion of the population that would provide Yes responses?b. What is your estimate of the standard error of the proportion, ?c. Compute the 95% confidence interval for the population
30. During the first quarter of 2003, the price/earnings (P/E) ratio for stocks listed on the New York Stock Exchange generally ranged from 5 to 60 (The Wall Street Journal, March 7, 2003). Assume that we want to estimate the population mean P/E ratio for all stocks listed on the exchange. How many
29. The travel-to-work time for residents of the 15 largest cities in the United States is reported in the 2003 Information Please Almanac. Suppose that a preliminary simple random sample of residents of San Francisco is used to develop a planning value of 6.25 minutes for the population standard
28. Smith Travel Research provides information on the one-night cost of hotel rooms throughout the United States (USA Today, July 8, 2002). Use $2 as the desired margin of error and$22.50 as the planning value for the population standard deviation to find the sample size recommended in (a), (b),
27. Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $30,000 and $45,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. What is the planning value for the population
26. The average cost of a gallon of unleaded gasoline in Greater Cincinnati was reported to be$2.41 (The Cincinnati Enquirer, February 3, 2006). During periods of rapidly changing prices, the newspaper samples service stations and prepares reports on gasoline prices frequently.Assume the standard
25. Refer to the Scheer Industries example in Section 8.2. Use 6.84 days as a planning value for the population standard deviation.a. Assuming 95% confidence, what sample size would be required to obtain a margin of error of 1.5 days?b. If the precision statement was made with 90% confidence, what
24. The range for a set of data is estimated to be 36.a. What is the planning value for the population standard deviation?b. At 95% confidence, how large a sample would provide a margin of error of 3?c. At 95% confidence, how large a sample would provide a margin of error of 2?
23. How large a sample should be selected to provide a 95% confidence interval with a margin of error of 10? Assume that the population standard deviation is 40.
22. The first few weeks of 2004 were good for the stock market. A sample of 25 large openend funds showed the following year-to-date returns through January 16, 2004 (Barron’s, January 19, 2004).a. What is the point estimate of the population mean year-to-date return for large openend funds?b.
21. Consumption of alcoholic beverages by young women of drinking age has been increasing in the United Kingdom, the United States, and Europe (The Wall Street Journal, February 15, 2006). Data (annual consumption in liters) consistent with the findings reported in The Wall Street Journal article
20. Is your favorite TV program often interrupted by advertising? CNBC presented statistics on the average number of programming minutes in a half-hour sitcom (CNBC, February 23, 2006). The following data (in minutes) are representative of their findings.Assume the population is approximately
19. ANational Retail Foundation survey found households intended to spend an average of $649 during the December holiday season (TheWall Street Journal, December 2, 2002).Assume that the survey included 600 households and that the sample standard deviation was $175.a. With 95% confidence, what is
18. Thirty fast-food restaurants including Wendy’s, McDonald’s, and Burger King were visited during the summer of 2000 (The Cincinnati Enquirer, July 9, 2000). During each visit, the customer went to the drive-through and ordered a basic meal such as a “combo” meal or a sandwich, fries, and
17. The International Air Transport Association surveys business travelers to develop quality ratings for transatlantic gateway airports. The maximum possible rating is 10. Suppose a simple random sample of 50 business travelers is selected and each traveler is asked to provide a rating for the
16. The mean number of hours of flying time for pilots at Continental Airlines is 49 hours per month (The Wall Street Journal, February 25, 2003). Assume that this mean was based on actual flying times for a sample of 100 Continental pilots and that the sample standard deviation was 8.5 hours.a. At
15. Sales personnel for Skillings Distributors submit weekly reports listing the customer contacts made during the week. Asample of 65 weekly reports showed a sample mean of 19.5 customer contacts per week. The sample standard deviation was 5.2. Provide 90% and 95%confidence intervals for the
14. A simple random sample with n 54 provided a sample mean of 22.5 and a sample standard deviation of 4.4.a. Develop a 90% confidence interval for the population mean.b. Develop a 95% confidence interval for the population mean.c. Develop a 99% confidence interval for the population mean.d. What
13. The following sample data are from a normal population: 10, 8, 12, 15, 13, 11, 6, 5.a. What is the point estimate of the population mean?b. What is the point estimate of the population standard deviation?c. With 95% confidence, what is the margin of error for the estimation of the population
12. Find the t value(s) for each of the following cases.a. Upper tail area of .025 with 12 degrees of freedomb. Lower tail area of .05 with 50 degrees of freedomc. Upper tail area of .01 with 30 degrees of freedomd. Where 90% of the area falls between these two t values with 25 degrees of freedome.
11. For a t distribution with 16 degrees of freedom, find the area, or probability, in each region.a. To the right of 2.120b. To the left of 1.337c. To the left of 1.746d. To the right of 2.583e. Between 2.120 and 2.120f. Between 1.746 and 1.746
10. Playbill magazine reported that the mean annual household income of its readers is$119,155 (Playbill, January 2006). Assume this estimate of the mean annual household income is based on a sample of 80 households, and based on past studies, the population standard deviation is known to be σ
9. The undergraduate grade point average (GPA) for students admitted to the top graduate business schools was 3.37 (Best Graduate Schools, U.S. News and World Report, 2001).Assume this estimate was based on a sample of 120 students admitted to the top schools.Using past years’ data, the
8. The National Quality Research Center at the University of Michigan provides a quarterly measure of consumer opinions about products and services (The Wall Street Journal, February 18, 2003). A survey of 10 restaurants in the Fast Food/Pizza group showed a sample mean customer satisfaction index
7. A survey of small businesses with Web sites found that the average amount spent on a site was $11,500 per year (Fortune, March 5, 2001). Given a sample of 60 businesses and a population standard deviation of σ $4000, what is the margin of error? Use 95% confidence. What would you recommend if
6. Nielsen Media Research conducted a study of household television viewing times during the 8 p.m. to 11 p.m. time period. The data contained in the CD file named Nielsen are consistent with the findings reported (The World Almanac, 2003). Based upon past studies the population standard deviation
5. In an effort to estimate the mean amount spent per customer for dinner at a major Atlanta restaurant, data were collected for a sample of 49 customers. Assume a population standard deviation of $5.a. At 95% confidence, what is the margin of error?b. If the sample mean is $24.80, what is the 95%
4. A95% confidence interval for a population mean was reported to be 152 to 160. If σ 15, what sample size was used in this study?
3. A simple random sample of 60 items resulted in a sample mean of 80. The population standard deviation is σ 15.a. Compute the 95% confidence interval for the population mean.b. Assume that the same sample mean was obtained from a sample of 120 items. Provide a 95% confidence interval for the
2. A simple random sample of 50 items from a population with σ 6 resulted in a sample mean of 32.a. Provide a 90% confidence interval for the population mean.b. Provide a 95% confidence interval for the population mean.c. Provide a 99% confidence interval for the population mean.
1. Asimple random sample of 40 items resulted in a sample mean of 25. The population standard deviation is σ 5.a. What is the standard error of the mean, ?b. At 95% confidence, what is the margin of error?
54. Lori Jeffrey is a successful sales representative for a major publisher of college textbooks.Historically, Lori obtains a book adoption on 25% of her sales calls. Viewing her sales calls for one month as a sample of all possible sales calls, assume that a statistical analysis of the data yields
53. The proportion of individuals insured by the All-Driver Automobile Insurance Company who received at least one traffic ticket during a five-year period is .15.a. Show the sampling distribution of if a random sample of 150 insured individuals is used to estimate the proportion having received at
52. Advertisers contract with Internet service providers and search engines to place ads on Web sites. They pay a fee based on the number of potential customers who click on their ad. Unfortunately, click fraud—the practice of someone clicking on an ad solely for the purpose of driving up
51. A market research firm conducts telephone surveys with a 40% historical response rate.What is the probability that in a new sample of 400 telephone numbers, at least 150 individuals will cooperate and respond to the questions? In other words, what is the probability that the sample proportion
50. About 28% of private companies are owned by women (The Cincinnati Enquirer, January 26, 2006). Answer the following questions based on a sample of 240 private companies.a. Show the sampling distribution of , the sample proportion of companies that are owned by women.b. What is the probability

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