What is the likelihood of a person getting a job offer if they apply to 10 different companies, given that the historical success rate of the companies in hiring candidates with similar qualifications is 30%, and assuming the job market conditions remain constant during the application period?
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- The quality department at an electronics company has noted that, historically, 91% of the units of a specific product pass a test operation, 6% fail the test but are able to be repaired, and 3% fail the test and need to be scrapped. Due to recent process improvements, the quality department would like to test if the rates have changed. A recent sample of 500 parts revealed that 473 parts passed the test, 20 parts failed the test but were repairable, and 7 parts failed the test and were scrapped. (You may find it useful to reference the appropriate table: chi-square table or table)a. Choose the appropriate alternative hypothesis for the test.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 (currently 76.2), 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 2018 and 2019 were obtained from the American Customer Satisfaction Index. Assume that the scores are based on a poll of 70 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. Let 2018 be population 1. Company 2018 Score 2019 Score Rite Aid 74 77 Expedia 76 78 J.C. Penney 78 79 2d. When conducting a hypothesis test with the values given for the standard deviation, sample size, and α, how large must the increase from 2018 to 2019 be…Suppose you are a broker (of junk bonds) who buys only bonds that have a 55% chance of not defaulting. You want to put together a portfolio of bonds with at least four that will not default. You want to be 93.9% sure that at least four will not default. How many bonds should you buy?
- Watershed is a media services company that provides online streaming movie and television content. As a result of the competitive market of streaming service providers, Watershed is interested in proactively identifying will unsubscribe in the next three months based on the customer's characteristics. For a test set of customers, the file Watershed contains an indication of whether a customer unsubscribed in the past three months and the classification model's estimated unsubscribe probability for the customer. In an effort to prevent customer churn, Watershed wishes to offer promotions to customers who may unsubscribe. It costs Watershed $15 to offer a promotion to a customer. If offered a promotion, it successfully persuades a customer to remain a Watershed customer with probability 0.7, and the retaining the customer is worth $60 to Watershed. Click on the datafile logo to reference the data. Assuming customers will be offered the promotion in order of decreasing estimated…Suppose 58.8% of small businesses experience cash flow problems in their first 5 years. A consultant takes a random sample of 557 businesses that have been opened for 5 years or less. What is the probability that greater than 55.85% of the businesses have experienced cash flow problems? Question 2 options: 1) 0.9214 2) 0.5000 3) -6.0341 4) 0.0786 5) >0.999A pharmaceutical company has developed a new drug aimed at reducing the number of people affected by a particular disease. The current existing drug available on the market has a cure rate of 60%. However, before the pharmaceutical company can put the new drug on the market, the authorities need to be convinced that it is safe and more effective than the existing one. A trial is then set up. The new drug is given to 280 randomly selected patients who suffer from this disease. After the treatment, 196 people are cured. a) Is the new medicine more effective than the traditional one? Comment on your results. As a control group, 140 new patients who suffer from the same disease are selected at random but the patients in that group are given only (without knowing) vitamin C. After this “treatment” 70 people are cured. b) Is the vitamin worse than the traditional medicine in curing the disease? Comment on your results. c) On the basis of the evidence in part a) and part b) should the…
- General Motors wants to know if a newly designed car has a different appeal to people under 30 versus people over 50 (so they better know who to market the car towards). If there is at least a 10% difference in either proportion then GM will specifically design its marketing campaign towards that group (otherwise, they will target a more general audience). In another sample of 500 over-50, 375 expressed a favorable opinion of the car. In another sample of 450 under-30 year olds, 270 expressed a more favorable opinion of the new design (compared with the old design).a) At the 5% level of significance does it appear there is at least a 10% difference? b) What is the p-value?For 10 percent of the products in a category, a firm fails to satisfy all demand during themonth. What is its in-stock probability?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 doctor is studying the relationship between blood pressure and heartbeat abnormalities in her patients. She tests a random sample of her patients and notes their blood pressures (high, low, or normal) and their heartbeats (regular or irregular). She finds that: 14% have high blood pressure. • 22% have low blood pressure. 15% have an irregular heartbeat. • Of those with an irregular heartbeat, one-third have high blood pressure. • Of those with normal blood pressure, one-eighth have an irregular heartbeat. What portion of the patients selected have a regular heartbeat and low blood pressure? (0.2)A small business is studying the number of customers that enter the store. They record the number of customers entering every hour for three days, and find that 27% of the time two customers enter the store in an hour, 28% of the time of the time one customer enters the store in an hour, and the remainder of the time no one enters the store in an hour. What is the expected number of customers per hour?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 (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 67 customers from each company. Because the polling has been done for several years, the standard deviation can be assumed to equal 6 points in each case. Company Year 1 Score Year 2 Score Rite Aid 73 75 Expedia 72 75 J.C. Penney 73 74 a. For Rite Aid, is the increase in the satisfaction score from year 1 to year 2 statistically significant? Use a = .05 and null hypothesis is Ho : H1 – 42 <0. What can you conclude? z value (to 2 decimals) p-value (to…