Homework Help is Here – Start Your Trial Now!
Math
Statistics
Suppose an architectural firm specializing in the structural restoration and renovation of historic homes and early barns is deciding whether to open a branch of the company in Wilmington, Vermont. Market research commissioned by the firm indicates that the Vermont location will be profitable only if the mean age of houses and barns located within a 100-mile radius of Wilmington is greater than 65 years. The architectural firm conducts a hypothesis test to determine whether µ, the mean age of structures located within a 100-mile radius of Wilmington, is greater than 65 years. The test is conducted at a = .01 level of significance using a random sample of n = 196 houses and barns located in the specified area. The population standard deviation of the age of structures is assumed to be known with a value of o = 23.8 years. The firm will open a Vermont branch only if it rejects the null hypothesis that the mean age of structures in the specified area is less than or equal to 65 years. To summarize this hypothesis test refer to the chart given below.

Suppose an architectural firm specializing in the structural restoration and renovation of historic homes and early barns is deciding whether to open a branch of the company in Wilmington, Vermont. Market research commissioned by the firm indicates that the Vermont location will be profitable only if the mean age of houses and barns located within a 100-mile radius of Wilmington is greater than 65 years. The architectural firm conducts a hypothesis test to determine whether µ, the mean age of structures located within a 100-mile radius of Wilmington, is greater than 65 years. The test is conducted at a = .01 level of significance using a random sample of n = 196 houses and barns located in the specified area. The population standard deviation of the age of structures is assumed to be known with a value of o = 23.8 years. The firm will open a Vermont branch only if it rejects the null hypothesis that the mean age of structures in the specified area is less than or equal to 65 years. To summarize this hypothesis test refer to the chart given below.

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
See similar textbooks
icon
Related questions
Question

I need help with the last three questions on the second picture. I submitted the first for background information. 

11. Effect size and Cohen's d Aa Aa Suppose a researcher is trying to understand whether people who purchase fast-food hamburgers would be willing to pay more if the hamburger comes with a free whistle. Prior research suggests the mean amount customers say they are willing to pay for a hamburger is µ = 2.72 and o = 1.28. The researcher plans to conduct a study very similar to the prior research by selecting a sample of customers and asking them how much they are willing to pay for the hamburger. Before asking, however, she will tell the customer about the free whistle that will come with the hamburger. The researcher's null hypothesis is that the mean amount the customers are willing to pay when they are told about the free whistle is no different than the amount customers are willing to pay when they are not told they will receive a free whistle. The researcher's sample of 100 customers has a sample mean ofM = 2.98. The test statistic for this sample mean is 2.03. Using a significance level of a = .05, which of the following is the most appropriate statement of the result? Hint: For a two-tailed test with a = .05 and o known, the boundaries of the critical region are always +1.96. Telling customers they will receive a free whistle with their hamburger did not have a significant effect on the amount they say they are willing to pay for a hamburger, z = 2.98, p > .05. Telling customers they will receive a free whistle with their hamburger had a significant effect on the amount they say they are willing to pay for a hamburger, z = 2.03, р < .05. Telling customers they will receive a free whistle with their hamburger had a significant effect on the amount they say they are willing to pay for a hamburger, z = 2.72, p < .05. Telling customers they will receive a free whistle with their hamburger did not have a significant effect on the amount they say they are willing to pay for a hamburger, z = 2.03, p < .05. Compute the estimated Cohen's d to measure the size of the treatment effect. Note: Cohen's d is always reported as a positive value and reflects the proportion of the standard deviation that is affected by the treatment.
Transcribed Image Text:11. Effect size and Cohen's d Aa Aa Suppose a researcher is trying to understand whether people who purchase fast-food hamburgers would be willing to pay more if the hamburger comes with a free whistle. Prior research suggests the mean amount customers say they are willing to pay for a hamburger is µ = 2.72 and o = 1.28. The researcher plans to conduct a study very similar to the prior research by selecting a sample of customers and asking them how much they are willing to pay for the hamburger. Before asking, however, she will tell the customer about the free whistle that will come with the hamburger. The researcher's null hypothesis is that the mean amount the customers are willing to pay when they are told about the free whistle is no different than the amount customers are willing to pay when they are not told they will receive a free whistle. The researcher's sample of 100 customers has a sample mean ofM = 2.98. The test statistic for this sample mean is 2.03. Using a significance level of a = .05, which of the following is the most appropriate statement of the result? Hint: For a two-tailed test with a = .05 and o known, the boundaries of the critical region are always +1.96. Telling customers they will receive a free whistle with their hamburger did not have a significant effect on the amount they say they are willing to pay for a hamburger, z = 2.98, p > .05. Telling customers they will receive a free whistle with their hamburger had a significant effect on the amount they say they are willing to pay for a hamburger, z = 2.03, р < .05. Telling customers they will receive a free whistle with their hamburger had a significant effect on the amount they say they are willing to pay for a hamburger, z = 2.72, p < .05. Telling customers they will receive a free whistle with their hamburger did not have a significant effect on the amount they say they are willing to pay for a hamburger, z = 2.03, p < .05. Compute the estimated Cohen's d to measure the size of the treatment effect. Note: Cohen's d is always reported as a positive value and reflects the proportion of the standard deviation that is affected by the treatment.
12. Computing power Aa Aa Suppose an architectural firm specializing in the structural restoration and renovation of historic homes and early barns is deciding whether to open a branch of the company in Wilmington, Vermont. Market research commissioned by the firm indicates that the Vermont location will be profitable only if the mean age of houses and barns located within a 100-mile radius of Wilmington is greater than 65 years. The architectural firm conducts a hypothesis test to determine whether u, the mean age of structures located within a 100-mile radius of Wilmington, is greater than 65 years. The test is conducted at a = .01 level of significance using a random sample of n = 196 houses and barns located in the specified area. The population standard deviation of the age of structures is assumed to be known with a value of o = 23.8 years. The firm will open a Vermont branch only if it rejects the null hypothesis that the mean age of structures in the specified area is less than or equal to 65 years. To summarize this hypothesis test refer to the chart given below. Reject the Null = Open the Branch Fail to Reject = Do Not Open the Branch If, on the basis of the hypothesis test, the architectural firm decides to open a branch, but the true mean age of houses and barns located within a 100-mile radius of Wilmington is less than 65 years, the firm has committed a error, because this branch will be unprofitable. If, on the basis of the hypothesis test, the architectural firm decides not to open a branch, but the true mean age of houses and barns located within a 100-mile radius of Wilmington is greater than 65 years, the firm has committed a error, because this branch would have been profitable.
Transcribed Image Text:12. Computing power Aa Aa Suppose an architectural firm specializing in the structural restoration and renovation of historic homes and early barns is deciding whether to open a branch of the company in Wilmington, Vermont. Market research commissioned by the firm indicates that the Vermont location will be profitable only if the mean age of houses and barns located within a 100-mile radius of Wilmington is greater than 65 years. The architectural firm conducts a hypothesis test to determine whether u, the mean age of structures located within a 100-mile radius of Wilmington, is greater than 65 years. The test is conducted at a = .01 level of significance using a random sample of n = 196 houses and barns located in the specified area. The population standard deviation of the age of structures is assumed to be known with a value of o = 23.8 years. The firm will open a Vermont branch only if it rejects the null hypothesis that the mean age of structures in the specified area is less than or equal to 65 years. To summarize this hypothesis test refer to the chart given below. Reject the Null = Open the Branch Fail to Reject = Do Not Open the Branch If, on the basis of the hypothesis test, the architectural firm decides to open a branch, but the true mean age of houses and barns located within a 100-mile radius of Wilmington is less than 65 years, the firm has committed a error, because this branch will be unprofitable. If, on the basis of the hypothesis test, the architectural firm decides not to open a branch, but the true mean age of houses and barns located within a 100-mile radius of Wilmington is greater than 65 years, the firm has committed a error, because this branch would have been profitable.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Fundamental Counting Principle
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS