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Exercise 1 Fortitude Insurance sells extended car warranties over the phone. They call people using random dialing. When recipients of the phone call press one on their phone, they are transferred to a sales agent. Sales agents are paid on commission. Management is concerned about the rapid turn-over of sales agents. They have decided to test a more lucrative commission plan. You have been hired to conduct this test. The research question: Does the new commission plan help sales agents increase their weekly sales commission? The significance level will be set at 5%. Step 1: Test Set-Up Question 1: How large a sample is needed to achieve 80% statistical power? Based on past research Cohen's d effect size is estimated at 0.40, which is a small effect. See the table below: Cohen's d ES Thresholds Small Medium Large 0.2 0.5 0.8 Here are the results of an a priori power analysis run using G*Power. Output parameters Noncentrality parameter 6 2.5612497 Critical t 1.6838510 Df 40 Total sample size 41 Actual power 0.8085822 Will a sample of 41 sales agents achieve statistical power of 80% or more? Place and X in the appropriation box: Answer: Yes No What would happen to statistical power if the estimate of Cohen's d effect size is wrong? Question 2: What two-sample test statistic should you use and why? Place an X in the correct box. Provide the reason for your answer below the checklist. z-test for z-test for Unequal s? Pooled s? proportions t-test t-test means What is your rationale for this answer?

Exercise 1 Fortitude Insurance sells extended car warranties over the phone. They call people using random dialing. When recipients of the phone call press one on their phone, they are transferred to a sales agent. Sales agents are paid on commission. Management is concerned about the rapid turn-over of sales agents. They have decided to test a more lucrative commission plan. You have been hired to conduct this test. The research question: Does the new commission plan help sales agents increase their weekly sales commission? The significance level will be set at 5%. Step 1: Test Set-Up Question 1: How large a sample is needed to achieve 80% statistical power? Based on past research Cohen's d effect size is estimated at 0.40, which is a small effect. See the table below: Cohen's d ES Thresholds Small Medium Large 0.2 0.5 0.8 Here are the results of an a priori power analysis run using G*Power. Output parameters Noncentrality parameter 6 2.5612497 Critical t 1.6838510 Df 40 Total sample size 41 Actual power 0.8085822 Will a sample of 41 sales agents achieve statistical power of 80% or more? Place and X in the appropriation box: Answer: Yes No What would happen to statistical power if the estimate of Cohen's d effect size is wrong? Question 2: What two-sample test statistic should you use and why? Place an X in the correct box. Provide the reason for your answer below the checklist. z-test for z-test for Unequal s? Pooled s? proportions t-test t-test means What is your rationale for this answer?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Exercise 1 Fortitude Insurance sells extended car warranties over the phone. They call people using random dialing. When recipients of the phone call press one on their phone, they are transferred to a sales agent. Sales agents are paid on commission. Management is concerned about the rapid turn-over of sales agents. They have decided to test a more lucrative commission plan. You have been hired to conduct this test. The research question: Does the new commission plan help sales agents increase their weekly sales commission? The significance level will be set at 5%. Step 1: Test Set-Up Question 1: How large a sample is needed to achieve 80% statistical power? Based on past research Cohen's d effect size is estimated at 0.40, which is a small effect. See the table below: Cohen's d ES Thresholds Small 0.2 Medium 0.5 Large 0.8 Here are the results of an a priori power analysis run using G*Power. Output parameters Noncentrality parameter 6 2.5612497 Critical t 1.6838510 Df 40 Total sample size 41 Actual power 0.8085822 Will a sample of 41 sales agents achieve statistical power of 80% or more? Place and X in the appropriation box: Answer: Yes No What would happen to statistical power if the estimate of Cohen's d effect size is wrong? Question 2: What two-sample test statistic should you use and why? Place an X in the correct box. Provide the reason for your answer below the checklist. z-test for z-test for Unequal s? Pooled s? means proportions t-test t-test What is your rationale for this answer?
Transcribed Image Text:Exercise 1 Fortitude Insurance sells extended car warranties over the phone. They call people using random dialing. When recipients of the phone call press one on their phone, they are transferred to a sales agent. Sales agents are paid on commission. Management is concerned about the rapid turn-over of sales agents. They have decided to test a more lucrative commission plan. You have been hired to conduct this test. The research question: Does the new commission plan help sales agents increase their weekly sales commission? The significance level will be set at 5%. Step 1: Test Set-Up Question 1: How large a sample is needed to achieve 80% statistical power? Based on past research Cohen's d effect size is estimated at 0.40, which is a small effect. See the table below: Cohen's d ES Thresholds Small 0.2 Medium 0.5 Large 0.8 Here are the results of an a priori power analysis run using G*Power. Output parameters Noncentrality parameter 6 2.5612497 Critical t 1.6838510 Df 40 Total sample size 41 Actual power 0.8085822 Will a sample of 41 sales agents achieve statistical power of 80% or more? Place and X in the appropriation box: Answer: Yes No What would happen to statistical power if the estimate of Cohen's d effect size is wrong? Question 2: What two-sample test statistic should you use and why? Place an X in the correct box. Provide the reason for your answer below the checklist. z-test for z-test for Unequal s? Pooled s? means proportions t-test t-test What is your rationale for this answer?
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