Bundle: Understanding Basic Statistics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Brase/Brase's Understanding Basic Statistics, ... for Peck's Statistics: Learning from Data

7th Edition

ISBN: 9781305787612

Author: Charles Henry Brase, Corrinne Pellillo Brase

Publisher: Cengage Learning

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Chapter 10.1, Problem 9P

For Problems 9-17 assume that the distribution of differences d is moundshaped and symmetric.

Please provide the following information for Problems 9-17.

(a) What is the level of significance? State the null and alternate hypotheses. Will you use a left-tailed, right-tailed, or two-tailed test?

(b)Check Requirements What sampling distribution will you use? What assumptions are you making ? Compute the value of the sample test statistic and corresponding / value.

(d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis? Are the data statistically significant at level α ?

(e)Interpret your conclusion in the context of the application.

In these problems, assume that the distribution of differences is approximately normal.

Note: For degrees of freedom d.f. not in the Student's t table, use the closest d.f that is smaller. In some situations, this choice of d.f. may increase the P-value by a small amount and therefore produce a slightly more ‘‘conservative” answer.

Business: CEO Raises Are America's top chief executive officers (CEOs) really worth all that money? One way to answer this question is to look at row B, the annual company percentage increase in revenue, versus row A. the CEO’s annual percentage salary increase in that same company (Source: Forbes, Vol. 159. No. 10). A random sample of companies such as John Deere & Co., General Electric, and Dow Chemical yielded the following data:

B: Percent increase for company	24	23	25	18	6	4	21	37
A: Percent increase for CEO	21	25	20	14	-4	19	15	30

Do these data indicate that the population mean percentage increase in corporate revenue (row B) is different from the population mean percentage increase in CEO salary? Use a 5% level of significance.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 10.1, Problem 8P

Chapter 10.1, Problem 10P

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Chapter 10 Solutions

Bundle: Understanding Basic Statistics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Brase/Brase's Understanding Basic Statistics, ... for Peck's Statistics: Learning from Data

Ch. 10.1 - Statistical Literacy Are data that can be paired...Ch. 10.1 - Prob. 2P Ch. 10.1 - Statistical Literacy When testing the difference...Ch. 10.1 - statistical Literacy When conducting a paired...Ch. 10.1 - Statistical Literacy When using a Student's t...Ch. 10.1 - Critical Thinking Alisha is conducting a paired...Ch. 10.1 - Basic Computation: Paired Differences Test For a...Ch. 10.1 - Basic Computation: Paired Differences Test For a...Ch. 10.1 - For Problems 9-17 assume that the distribution of...Ch. 10.1 - For Problems 9-17 assume that the distribution of...

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Solution Summary: The author explains the level of significance, null hypothesis, and alternative hypothesis. The sampling distribution is Student's t -distribution.

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