Last year the average cost of making a movie was $54.8million.This year a random sample of 15 recent action movies had an average production cost of $62.3 million with a variance of $ 90.25 million. At the 0.01 level of significance, can it be concluded that it cost more than average to produce an action movie?

Last year the average cost of making a movie was $54.8million.This year a random sample of 15 recent action movies had an average production cost of $62.3 million with a variance of $ 90.25 million. At the 0.01 level of significance, can it be concluded that it cost more than average to produce an action movie?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

Given a sample data set with a Variance of 12.25 and Mean of 4.0, what is the Coefficient of Variation of the data set.?
In college, talented runners may join a cross-country team. Runners tend to run their best times when they run even splits. Even splits occur when the runners maintain an even pace throughout the race. The cross-country coach wants to estimate the typical variability in his best runner's 1-mile splits. He takes a random sample of 25 of this runner's mile splits and finds that this runner's mean 1-mile split is 5.44 minutes per mile, with a standard deviation of 0.14 minutes per mile. This runner's 1-mile splits follow a normal distribution. (a) Find the chi-square critical values XL² and Xu² to be used in constructing a 95% confidence interval for the true population standard deviation. (Round your answers to two decimal places.) XL²= XU²= (b) Find the 95% confidence interval for the true variability in his best runner's 1-mile splits. (Round your answers to three decimal places.) lower bound and the upper bound
In its 2016 Auto Reliability Survey, Consumer Reports asked subscribers to report their maintenance and repair costs. Most individuals are aware of the fact that the average annual repair cost for an automobile depends on the age of the automobile. A researcher is interested in finding out whether the variance of the annual repair costs also increases with the age of the automobile. A sample of 26 automobiles 4 years old showed a sample standard deviation for annual repair costs of $190 and a sample of 24 automobiles 2 years old showed a sample standard deviation for annual repair costs of $100. a. State the null and alternative versions of the research hypothesis that the variance in annual repair costs is larger for the older automobiles. Let 4 year old automobiles be represented by population 1. 0² Ho o less than or equal to H₁: o greater than b. At a 0.01 level of significance, what is your conclusion? Calculate the value of the test statistic (to 2 décimals). Ⓡ The p-value is less…
What percentage of Contra Costa County adults supports a ban on assault-style weapons? Suppose that we survey a random sample of 100 adults living in Contra Costa County and find that 62% support a ban on assault-style weapons. According to a 2015 study by the Pew Research Center, 57% of U.S. adults favor a ban on assault-style weapons. Assuming that the variability in random samples will be the same in Contra Costa County as in the U.S., find the 95% confidence interval to estimate the proportion of CCC adults that favor a ban on assault-style weapons. g. Are we confident that the percentage of Contra Costa County residents that supports a ban is greater than the percentage nationwide as reported by the Pew Research Center? Why or why not?
A research firm regularly conducts customer satisfaction surveys for an amusement park. A survey of 200 randomly selected park visitors on a weekday in May concluded the average age of visitors to the park was 39 years. When the survey was repeated with 200 randomly selected park visitors on a Saturday in May, the average age of visitors to the park was determined to be 17 years. Does the information represents a quantitative or qualitative variable? What is the age of the visitor? Does the visitor have a season pass?
A factor in determining the usefulness of an examination as a measure of demonstrated ability is the amount of spread that occurs in the grades. If the spread or variation of examination scores is very small, it usually means that the examination was either too hard or too easy. However, if the variance of scores is moderately large, then there is a definite difference in scores between "better," "average," and "poorer" students. A group of attorneys in a Midwest state has been given the task of making up this year's bar examination for the state. The examination has 500 total possible points, and from the history of past examinations, it is known that a standard deviation of around 60 points is desirable. Of course, too large or too small a standard deviation is not good. The attorneys want to test their examination to see how good it is. A preliminary version of the examination (with slight modifications to protect the integrity of the real examination) is given to a random sample of…
Which of the following statements is a statistical inference? O Ingestion of butternut squash accounted for 85% of the variance in frequency of severe migraine headache The correlation between ingestion of butternut squash and severe migraine headache was 0.9 Ingestion of butternut squash is a risk factor for the development of severe migraine headache Everyone who ingests butternut squash gets a severe migraine headache
In 2016 its Auto Reliability Survey, Consumer Reports asked subscribers to report their maintenance and repair costs. Most individuals are aware of the fact that the average annual repair cost for an automobile depends on the age of the automobile. A researcher is interested in finding out whether the variance of the annual repair costs also increases with the age of the automobile. A sample of 26 automobiles 4 years old showed a sample standard deviation for annual repair costs of $150 and a sample of 25 automobiles 2 years old showed a sample standard deviation for annual repair costs of 1. a. State the null and alternative versions of the research hypothesis that the variance in annual repair costs is larger for the older automobiles. Let year old automobiles be represented by population . b. At a 0.01 level of significance, what is your conclusion? Calculate the value of the test statistic (to 2 decimals). The -value is . Use Table 4 of Appendix B. that 4 year old…
What is the proportion of variance shared between the 2 variables? (How much of the variance in one variable can be predicted by the variance in the other variable?) Provided : mean 1 = 13.6 SD 1 = 2.26 Mean 2 = 102.7, SD= 11.36 Coefficient r = 0.47
Tourism is extremely important to the economy of Florida. Hotel occupancy is an often-reported measure of visitor volume and visitor activity (Orlando Sentinel, May 19, 2018). Hotel occupancy data for February in two consecutive years are as follows. Current Year Previous Year Occupied Rooms 1,360 1,386 Total Rooms 1,700 1,800 a. Formulate the hypothesis test that can be used to determine whether there has been an increase in the proportion of rooms occupied over the one-year period. Let pi = population proportion of rooms occupied for current year Pa= population proportion of rooms occupied for previous year Ho : Pi - Pa H.: Pi - P2 Select your answer Select your answer b. What is the estimated proportion of hotel rooms occupied each year (to 2 decimals)? Current year Previous Year c. Conduct a hypothesis test. What is the p-value (to 4 decimals)? Use Table 1 from Appendix B. p-value - Using a 0.05 level of significance, what is your conclusion? We Select your answer- vthat there has…
In its 2016 Auto Reliability Survey, Consumer Reports asked subscribers to report their maintenance and repair costs. Most individuals are aware of the fact that the average annual repair cost for an automobile depends on the age of the automobile. A researcher is interested in finding out whether the variance of the annual repair costs also increases with the age of the automobile. A sample of 26 automobiles 4 years old showed a sample standard deviation for annual repair costs of $210 and a sample of 25 automobiles 2 years old showed a sample standard deviation for annual repair costs of $100. (a) State the null and alternative versions of the research hypothesis that the variance in annual repair costs is larger for the older automobiles. (b) At a 0.01 level of significance, what is your conclusion? Find the value of the test statistic. (c) Find the p-value. (Round your answer to four decimal places.) p-value = (d) State your conclusion: A) Reject H0. We can conclude that…
Two companies produce small motorcycles of varying quality. An important measure of quality is the top speed the motorcycle can obtain on a flat surface. Do the following data provide evidence that the average top speed of cycles from these two companies differ? Report the p-value to two decimal places. Do not assume equal variances. Top Speed in mph from Company 1 Top Speed in mph from Company 2 21.5 53.0 20.3 40.1 49.6 49.3 43.8 51.6 50.5 52.6 52.5 50.6 47.8 37.0 33.2