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- a. Compute a three-period moving average for these stock prices (in R, order = 3). What are the first two moving average values? (Round your answer to two decimal points) First: $ Second: $An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist’s claim at the 0.10 level of significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2. Average Residential Retail Prices of Electricity ($/kWh) 2018 2019 19.99 18.65 15.30 17.29 14.40 16.17 17.31 18.68 12.85 13.53 12.41 13.11 14.74 13.13 19.15 19.36 11.84 13.69 Step 3 of 3 : Draw a conclusion and interpret the decision. 1. We fail to reject the null hypothesis and conclude that there is insufficent evidence at a…The week before the bill to repeal Obamacare came up for consideration in the Senate, one polling agency increased the size of the random sample of U.S. adults they surveyed on this issue from 500 to 1500. What effect would this increase have on the polling agency's estimate of the proportion of U.S. adults in favor of repealing Obamacare, assuming the true proportion in favor remained constant? (A) A reduction in the variability of the estimate (B) An increase in the variability of the estimate (C) A reduction in the bias of the estimate (D) An increase in the bias of the estimate (E) A reduction in both the variability and the bias of the estimate
- Water availability is of prime importance in the life cycle of most reptiles. To determine the rate of evaporative water loss of a certain species of lizard at a particular desert site, 34 such lizards were randomly collected, weighed and placed under the appropriate experimental conditions. After 24 hours, each lizard was removed, weighed, and its total water loss was calculated by subtracting its body weight after treatment from its initial body weight. Previous studies have shown that the relative frequency distribution of water loss for this species of lizard has a mean of 3.1 grams and a s.d. of 0.8 gram. a) What is the approximate sampling distribution of x , the mean water loss of the 34 lizards6. Consider a coffee shop that uses a single-server queue. The inter-arrival time is exponentially distributed with a mean of 10 minutes and the service time is also exponentially distributed with a mean of 8 minutes. Calculate the: (i) mean wait in the queue (2) (ii) mean number in the queue (2) (iii) the mean wait in the system (2) (iv) mean number in the system (2) (v) proportion of time the server is idle. (2) [10] 7. The arrival of customers at a bank follows a Poisson distribution with a mean arrival rate of 10 customers per hour. The service time at the bank follows an exponential distribution with a mean service rate of 6 minutes per customer. Calculate the average number of customers in the system (including those being served and waiting) and the average time a customer spends in the system. How is the system performing? [8]A stock analyst wondered whether the mean rate of return of financial, energy and utility stocks differed over the past 5 years. He obtained a simple random sample of eight companies from each of the three sectors and obtained the 5-year rates of return shown in the following table (in percents): Financial Energy Utilities 10.76 12.72 11.88 15.05 13.91 5.86 17.01 6.43 13.46 5.07 11.19 9.90 19.50 18.79 3.95 8.16 20.73 3.44 10.38 9.60 7.11 6.75 17.40 15.70 Source: Morningstar.com Required: (a) State the null and alternative hypothesis. (b) Are the mean rates of return different at the alpha = 0.05 level of significance? Please explain your answer, citing numeric and other evidence in support of your response.
- A burger joint has on average 9 customers arriving per hour. There is only one employee serving customers and she takes about 4 minutes on average to serve a customer. The burger joint is open 10 hours per day and makes a profit of $10 for each burger sold. The staff has a pay rate of $20/hour. Assume a Poisson distribution on the arrival rate of customers and exponential distribution on the service time of the employee. Q. If customers do not want to spend more than 6 minutes in the burger joint (including waiting and service), how much potential profit would the joint lose per day?An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist’s claim at the 0.05 level of significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2. Average Residential Retail Prices of Electricity ($/kWh) 2018 2019 19.32 18.19 15.00 13.69 11.20 12.72 14.48 14.51 14.15 12.23 19.17 17.21 13.13 11.29 17.62 15.89 19.06 17.71 Step 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below Step 2 of 3: Compute the value of the test statistic. Round your…Question 3Two independent sets of forecasts based on judgement and experience have been prepared eachmonth for the past 10 months. Draw the control chart (2s control limits) and judge eachforecasting process is in control or not.Period Demand F1 F21 770 771 7692 789 785 7873 794 790 7924 780 784 7985 768 770 7746 772 768 7707 760 761 7598 775 771 7759 786 784 78810 790 788 788
- An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist's claim at the 0.02 level of significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2. Average Residential Retail Prices of Electricity ($/kWh) 2018 2019 12.62 11.24 16.01 17.99 12.59 14.44 19.94 21.43 17.75 19.24 15.91 17.39 18.89 19.94 15.85 16.67 13.90 15.31 Copy Data Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places.In a combined study of northern pike, cutthroat trout, rainbow trout, and lake trout, it was found that 40 out of 866 fish died when caught and released using barbless hooks on flies or lures. All hooks were removed from the fish. (a) Let p represent the proportion of all pike and trout that die (i.e., p is the mortality rate) when caught and released using barbless hooks. Find a point estimate for p. (Round your answer to four decimal places.)(b) Find a 99% confidence interval for p. (Round your answers to three decimal places.) lower limit upper limit Give a brief explanation of the meaning of the interval. We are 99% confident that the true catch-and-release mortality rate falls outside this interval.We are 1% confident that the true catch-and-release mortality rate falls above this interval. We are 99% confident that the true catch-and-release mortality rate falls within this interval.We are 1% confident that the true catch-and-release mortality rate falls…2
