Situation: The Ipod Touch has been out for two years now and a lot of data has been collected. Relevant Relationship: There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s. Below is a table of data that have been collected Price,p,($) Weekly Demand,s,(1,000s) 150 215 170 200 190 195 210 187 230 182 250 175 A.. Find the linear model that best fits this data using regression and enter the model below (for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1) s = T(p) = 2 B. The squared correlation coefficient r was Select an answer 0.95 (note: values less than 0.95 MAY mean the model is not appropriate for making predictions) Now answer these two questions using the UNROUNDED model parameters C. What does the model predict will be the weekly demand if the price of an ipod touch is $209 ? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 200,900 ipod Touches? $ (nearest $1) Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer In 2011, a U.S. Census report determined that 71% of college students work. A researcher thinks this percentage has changed since then. A survey of 110 college students reported that 91 of them work. Is there evidence to support the reasearcher's claim at the 1% significance level? A normal probability plot indicates that the population is normally distributed. a) Determine the null and alternative hypotheses. Ho: p = Hap Select an answer (Put in the correct symbol and value) b) Determine the test statistic. Round to two decimals. Z c) Find the p-value. Round to 4 decimals. P-value = d) Make a decision. O Fail to reject the null hypothesis O Reject the null hypothesis e) Write the conclusion. There is not sufficient evidence to support the claim that the percentage of college students who work is different than 71%. There is sufficient evidence to support the claim that the percentage of college students who work is different than 71%.
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected. Relevant Relationship: There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s. Below is a table of data that have been collected Price,p,($) Weekly Demand,s,(1,000s) 150 215 170 200 190 195 210 187 230 182 250 175 A.. Find the linear model that best fits this data using regression and enter the model below (for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1) s = T(p) = 2 B. The squared correlation coefficient r was Select an answer 0.95 (note: values less than 0.95 MAY mean the model is not appropriate for making predictions) Now answer these two questions using the UNROUNDED model parameters C. What does the model predict will be the weekly demand if the price of an ipod touch is $209 ? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 200,900 ipod Touches? $ (nearest $1) Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer In 2011, a U.S. Census report determined that 71% of college students work. A researcher thinks this percentage has changed since then. A survey of 110 college students reported that 91 of them work. Is there evidence to support the reasearcher's claim at the 1% significance level? A normal probability plot indicates that the population is normally distributed. a) Determine the null and alternative hypotheses. Ho: p = Hap Select an answer (Put in the correct symbol and value) b) Determine the test statistic. Round to two decimals. Z c) Find the p-value. Round to 4 decimals. P-value = d) Make a decision. O Fail to reject the null hypothesis O Reject the null hypothesis e) Write the conclusion. There is not sufficient evidence to support the claim that the percentage of college students who work is different than 71%. There is sufficient evidence to support the claim that the percentage of college students who work is different than 71%.
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.3: Modeling Data With Linear Functions
Problem 24E: When Date Are Unevenly speed. If data are evenly spaced, we need only calculate differences to see...
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Question
Answer the questions in the image.
Transcribed Image Text:Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.
Relevant Relationship:
There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s.
Below is a table of data that have been collected
Price,p,($)
Weekly Demand,s,(1,000s)
150
215
170
200
190
195
210
187
230
182
250
175
A.. Find the linear model that best fits this data using regression and enter the model below
(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)
s = T(p) =
2
B. The squared correlation coefficient r was Select an answer
0.95
(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)
Now answer these two questions using the UNROUNDED model parameters
C. What does the model predict will be the weekly demand if the price of an ipod touch is $209 ?
(nearest 100)
D. According to the model at what should the price be set in order to have a weekly demand of 200,900
ipod Touches? $
(nearest $1)
Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer
Transcribed Image Text:In 2011, a U.S. Census report determined that 71% of college students work. A researcher thinks this
percentage has changed since then. A survey of 110 college students reported that 91 of them work. Is
there evidence to support the reasearcher's claim at the 1% significance level? A normal probability plot
indicates that the population is normally distributed.
a) Determine the null and alternative hypotheses.
Ho: p =
Hap Select an answer
(Put in the correct symbol and value)
b) Determine the test statistic. Round to two decimals.
Z
c) Find the p-value. Round to 4 decimals.
P-value =
d) Make a decision.
O Fail to reject the null hypothesis
O Reject the null hypothesis
e) Write the conclusion.
There is not sufficient evidence to support the claim that the percentage of college students who
work is different than 71%.
There is sufficient evidence to support the claim that the percentage of college students who work is
different than 71%.
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