What is the difference between heteroskedasticity and homoskedasticity
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What is the difference between heteroskedasticity and homoskedasticity
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- q6b-In a certain manufacturing company, a safety engineer has conducted an observation for a period of one month. The results presented show that only 10% of the machinists wear clear goggles and 90% wear cotton gloves when grinding a piece of metal during a regular day. Assuming that this claim is right and that the workers still do not know that they are being observed, what is the chance that no more than 3 out of 7 workers will be wearing their clear goggles while grinding during a random check? 0.997 0.957 0.571A soft drink dispenser is set to automatically dispense drinks and ice in 8 oz cups. The machine is set to fill cups with 7.25 oz so that the liquid will not run over the top of the cup. The company is getting complaints that the machine is filling the cups too full and spilling over. When the machine is working properly, only 1% of the cups will not be filled properly. The production manager conducted a one-tail test at the 0.01 level to check the machine. A sample of 50 fills was measured. Using the P-value approach, formulate a hypothesis test to examine the possibility that the machine could be faulty. State the null and alternative hypothesis.
- Occurrences of landfalling hurricanes during an El Niño event are modeled asa Poisson process in Bove et al. (1998). The authors assert that “During an ElNiño year, the probability of two or more hurricanes making landfall in theUnited States is 28%.” Find the rate of the Poisson process.For each Bernoulli process, find the expected number of successes: 1. Number of trials = 30, Probability of success = 0.6. 2. Number of trials = 260, Probability of success = 1/10. 3. Number of trials = 45, Probability of success = 0.2. 4. Number of trials = 23, Probability of failure = 0.8. 5. Number of trials = 59, Probability of failure = 4/7.At any age, about 20% of American adults participate in physical conditioning activities at least twice a week. However, these activities change as people get older, and occasionally participants cease to be older as they age. In a local survey of n = 100 adults over 40 years of age, a total of 15 people indicated that they participated in these activities at least twice a week. Does this data indicate that the percentage of participation for adults over 40 years of age is considerably less than the 20% figure? Find the p-value and use it to draw the appropriate conclusions.
- Will improving customer service result in higher stock prices for the companies providing the better service? "When a company's satisfaction score has improved over the prior year's results and is above the national average (75.7), studies show its shares have a good chance of outperforming the broad stock market in the long run." The following satisfaction scores of three companies for the fourth quarters of two previous years were obtained from the American Customer Satisfaction Index. Assume that the scores are based on a poll of 67 customers from each company. Because the polling has been done for several years, the standard deviation can be assumed to equal 8 points in each case. ETT Company Year 1 Score Year 2 Score Rite Aid 72 74 Expedia 72 75 J.C. Penney 74 81 a. For Rite Aid, is the increase in the satisfaction score from Year 1 to Year 2 statistically significant? Use a = 0.05 and null hypothesis is Ho : µ1 – µ2 <0. Find the test statistic and p-value. Use Table 1 of Appendix…Will improving customer service result in higher stock prices for the companies providing the better service? "When a company's satisfaction score has improved over the prior year's results and is above the national average (75.7), studies show its shares have a good chance of outperforming the broad stock market in the long run." The following satisfaction scores of three companies for the fourth quarters of two previous years were obtained from the American Customer Satisfaction Index. Assume that the scores are based on a poll of 63 customers from each company. Because the polling has been done for several years, the standard deviation can be assumed to equal 8 points in each case. ETT Company Year 1 Score Year 2 Score Rite Aid 76 78 Expedia 72 76 J.C. Penney 77 82 a. For Rite Aid, is the increase in the satisfaction score from Year 1 to Year 2 statistically significant? Use a 0.05 and null hypothesis is Ho : H1-H2 <0. Find the test statistic and p-value. Use Table 1 of Appendix B.…The consulting firm of Winston & Associates has been retained by an electronic component assembly company in Phoenix to design and program a computer simulation model of its operations. Winston & Associates plan to construct the model using ProModel software (see Promodel.com). This software allows the developer to program into the model probability distributions for things like machine downtime, defect rates, daily demand, and so forth. The closer the distributions specified in the computer model match those that actually occur in the assembly plant, the better the simulation model will perform. For one machine center, Winston consultants have assumed that when the center goes down for repairs, the time that it will be down will be normally distributed with an average of 30 minutes and a standard deviation equal to 10 minutes. Before finalizing the model, the consultants will collect a random sample of downtimes and test whether their downtime assumptions are valid. The…
- Will improving customer service result in higher stock prices for the companies providing the better services? "when a company's satisfaction score has improved over the prior years results and is above the national average (currently 75.7), studies show its shares have a good chance of outperforming the broad stock market in the long run." The following satisfaction scores of three companies for the 4th quarters of two previous years were obtained from the American Customer satisfaction index. Assume that the scores are based on a poll of 55 customers from each company. Because the polling has been done for several years, the standard deviation can be assumed to equal 7 points in each case. Company year 1 score year 2 score Rite Aid 72 75 Expedia 78 79 J.C Penney 75 77 a. For Rite Aid is the increase in the satisfaction score from year 1 to year 2 statistically significant? use ax=.05 and null…A regional Internet service provider (ISP) is interested in whether a 15% discount on its price for its highest-speed service will notably impact customer retention. To answer this question, the ISP randomly chooses 75 of the 150 markets it serves to receive the 15% discount and keeps prices the same in the remaining 75 markets. After six months, the ISP observes the following: • For the markets receiving the discount, the average retention rate was 0.93 (i.e., 93%), with a standard deviation of 0.255. • For the markets not receiving the discount, the average retention rate was 0.88, with a standard deviation of 0.325. Using a 95% confidence interval, determine whether you can state with 95% confidence that the discount improved the six-month retention rate.A cat-lover claims that cats are just as smart as dogs. In order to back this claim up with some evidence she organizes a study at a large local pet daycare center. A random sample of 40 cats are selected and a random sample of 40 dogs are selected. Each of the selected animals is given one hour with a trainer in which the trainer attempts to teach them to roll over. Upon conclusion of the training, the proportion of dogs and proportion of cats that have learned this skill is computed. The trainer reports that she is 90% confident that the true difference in the proportion of all dogs and all cats (pD – pC) that can learn this skill with one hour of training is between –0.05 to 0.28. Which of the following conclusions can be made based upon this confidence interval? (A) Because most of the values in the confidence interval are positive, this proves that dogs are smarter than cats. (B) Because the point estimate of the confidence interval is positive, there is convincing evidence…
