
Concept explainers
The verification of

Explanation of Solution
To find the required statistics using the Minitab, follow the below instructions:
Step 1: Go to the Minitab software.
Step 2: Go to Stat > Basic statistics > Display
Step 3: Select dataset ‘Field A’ and dataset ‘Field B’ in variables.
Step 4: Click on OK.
The obtained output is:
Statistics
Variable | N | N* | SE Mean | StDev | Minimum | Q1 | Q3 | Maximum | ||
Sample 1 | 7 | 0 | 4.86 | 1.20 | 3.18 | 1.00 | 2.00 | 4.00 | 8.00 | 10.00 |
Sample 2 | 8 | 0 | 6.50 | 1.02 | 2.88 | 3.00 | 4.00 | 6.00 | 9.75 | 10.00 |
From the above output we have find that the values of
(a)
(i)
The level of significance, null hypothesis and alternate hypothesis.
(a)
(i)

Answer to Problem 21P
Solution: The hypotheses are
Explanation of Solution
The level of significance is 0.05.Since, we want to conduct a test of the claim that population mean time lost due to hot tempers is different from the population mean time lost due to disputes arising from technical worker’s superior attitudes. Therefore the null hypothesis is
(ii)
To find: The sampling distribution that should be used along with assumptions and compute the value of the sample test statistic.
(ii)

Answer to Problem 21P
Solution: We can use student’s t distribution. The sample test statisticis
Explanation of Solution
Calculation:
Let’s assume that the lost time population distribution aremound shape and approximately symmetrical. The population standard deviation (
Using
The sample test statistic t is calculated as follows:
Thus the test statistic is
(iii)
To find: The P-value of the test statistic and sketch the sampling distribution showing the area corresponding to the P-value.
(iii)

Answer to Problem 21P
Solution: The P-value of the sample test statistic is 0.3384.
Explanation of Solution
Calculation:
The given hypothesis test is two tailed.
D.F = Smaller of
By using table 4 from Appendix
Graph:
To draw the required graphs using the Minitab, follow the below instructions:
Step 1: Go to the Minitab software.
Step 2: Go to Graph > Probability distribution plot > View probability.
Step 3: Select ‘t’ and enter D.f = 6.
Step 4: Click on the Shaded area > X value.
Step 5: Enter X-value as – 1.04 and select ‘Two tail’.
Step 6: Click on OK.
The obtained distribution graph is:
P-value = 2(0.1692)
P-value = 0.3384
(iv)
Whether we reject or fail to reject the null hypothesis and whether the data is statistically significant for a level of significance of 0.05.
(iv)

Answer to Problem 21P
Solution: The P-value
Explanation of Solution
The P-value (0.3384) is greaterthan the level of significance (
(v)
The interpretation for the conclusion.
(v)

Answer to Problem 21P
Solution: There is not enough evidence to conclude that population mean time lost due to hot tempers is different from the population mean time lost due to disputes arising from technical worker’s superior attitudes.
Explanation of Solution
The P-value (0.4043) is greaterthan the level of significance (
(b)
To find: The 95%confidence interval for
(b)

Answer to Problem 21P
Solution:
The 95% confidence interval for the difference of two means is
Explanation of Solution
Calculation:
The critical t-value for a two-tailed area of 0.05 is 2.447.
The difference of two means is
Now, the margin of error is computed as follows:
Now the confidence interval for the difference of two means;
The confidence interval for the difference of two means is
Interpretation:
At the 95% confidence level, we see that the difference of means
Want to see more full solutions like this?
Chapter 10 Solutions
Student Solutions Manual for Brase/Brase's Understanding Basic Statistics, 7th
- An article appeared in the Journal of Gambling Issues, in which the authors looked at random samples of Ontario residents who (i) have not completed some form of post-secondary education and (ii) have completed some form of post-secondary education. A code of 0 indicates the person does not have a gambling problem, a code of 1 indicates the person does have a gambling problem. The data is found in the accompanying data file. Download.csv file To count the frequencies of 0 and 1 in each sample, use the table(your_dataset_name$ column's name) function. Make sure to replace "your_dataset_name" with the actual name of your data file and specify the correct column name. For example: table(file60c5d1286c735$ CompletedPSEducation) Let PNOPS represent the proportion of persons not completing some form of post-secondary education who have a gambling problem, and PPs be the proportion of persons having completed post-secondary education who have a gambling problem. (a) Find a 92% confidence…arrow_forwardWe consider a (European) call option on a stock with expiration in 3 months and strike price $10. The annual interest rate on the market is r = 4%. The current price of the stock is $10 and we assume that the stock follows a geometric Brownian motion (Black-Scholes) model with parameters = 6% and σ = 0.2. (a) Determine the price Fo of this option at time t = : 0 (today). (b) Using the formulas provided in the lecture videos, calculate the value of each of the Greeks for this option. Namely, calculate A, T, v, О, p. (c) Find a formula for the change of the option price with respect to a change in the af (St, t) Әк strike price. In other words, determine (d) For each of the suggested modifications below, use an approximation to determine the change in the price of the option above without actually recalculating the price. For each one, provide an intuitive argument to explain why the price increases or decreases. (i) The rate of return μ decreases to 5%. (ii) The interest rate r…arrow_forwardA box containing 24 seemly identical resistors has just been received. However,unbeknownst, 4 of these resistors are defective. a. Five resistors are randomly selected from this box without replacement (oncemoved from the box it is not returned to the box), what is the probability that oneor more of the defective resistors is among those selected? b. Five resistors are randomly selected from this box with replacement (after theresistor is removed and checked, it is returned to the box prior to the nextselection (hence the same resistor can be selected more than once)), what is theprobability that one or more of the defective resistors is among those selected?arrow_forward
- Business Discussarrow_forwardTriola statistics Readers who prefer printed books Readers who prefer e-booksarrow_forwardThe following is a list of data on the duration of a sample of 200 outbreaks, in hours. 107 73 68 97 76 79 94 59 98 57 54 65 71 70 84 88 62 82 61 79 98 66 62 79 86 68 74 61 62 116 65 88 64 79 78 74 92 75 5289 85 28 73 80 68 78 89 72 78 88 77 103 88 63 68 90 62 89 71 71 74 222 R 82 79 70 ST☑ 65 98 77 86 58 69 88 81 74 70 65 81 75 81 78 90 78 96 75 KRRE F S 62 94 62 79 83 93 135 71 85 84 83 63 61 65 83 70 70 81 77 72 84 33 62 92 65 67 59 58 66 66 94 77 63 71 101 78 43 78 66 75 68 76 59 67 61 71 64 76 72 77 74 65 82 86 66 86 68 85 27% 96 72 77 60 67 87 83 68 72 74 91 76 83 งงง 8 སྐྱ ཐྭ ༄ ཏྱཾ 89 81 71 85 99 59 92 87 84 75 77 51 45 80 84 93 69 76 89 75 67 92 89 82 96 77 102 66 68 61 73 72 76 73 77 79 94 63 59 62 71 81 65 73 63 63 89 82 64 85 92 64 73 a. What is the variable? What type? b. Construct an interval-frequency table, with columns containing: class mark, absolute frequency, relative frequency, cumulative frequency, cumulative relative frequency, and percentage frequency.arrow_forward
- This is the information about the actors who won the Best Actor Oscar: Best actors 44 41 62 52 41 34 34 52 41 37 38 34 32 40 43 56 41 39 49 57 35 30 39 41 44 41 38 42 52 51 49 35 47 31 47 37 57 42 45 42 44 62 43 42 48 49 56 38 60 30 40 42 36 76 39 53 45 36 62 43 51 32 42 54 52 37 38 32 45 60 46 40 36 47 29 43 a. What is the variable? What type? b. Construct an interval-frequency table, with columns containing: class mark, absolute frequency, relative frequency, cumulative frequency, cumulative relative frequency, and percentage frequency.arrow_forwardans c plsarrow_forwardCritically analyze the following graph and, based on statistical information, indicate the type of error it presents IN NO MORE THAN 3 LINES SCOTCEN POLL OF POLLS SHOULD SCOTLAND BE INDEPENDENT? NO 52% YES 58% LIVE CAW NAS & 28.30 HAS KILLED MORE THAN 2,600 IN WEST AFRICA, WORLD HEALTH ORG. BROOKEBCNNarrow_forward
- Critically analyze the following graph and, based on statistical information, indicate the type of error it presents IN NO MORE THAN 3 LINES PRESIDENTIAL PREFERENCES RODOLFO CARTER 3% (+2pts) EVELYN MATTHEI 22% (+6pts) With the exception of President Boric, could you tell me who you would like to be the next president of Chile? CAMILA VALLEJO 4% (+2pts) JOSÉ ANTONIO KAST 19% (+5pts) MICHELLE BACHELET 6% (+1pts)arrow_forwardCritically analyze the following graph and, based on statistical information, indicate the type of error it presents IN NO MORE THAN 3 LINES 13% APPROVE 4% DOESN'T KNOW DOESN'T RESPOND 5% NEITHER APPROVES NOR DISAPPROVES 78% DISAPPROVES SURVEY PRESIDENTIAL APPROVAL DROPS TO 13%arrow_forwardPlease help with this following question I'm not too sure if question (a) and (b) are correct and not sure how to calculate (c) The csv data is below "","New","Current" "1","67",66 "2","77",73 "3","76",73 "4","76",76 "5","77",79 "6","84",76 "7","71",78 "8","84",72 "9","73",76 "10","71",73 "11","72",77 "12","70",72 "13","75",72 "14","84",71 "15","77",73 "16","65",72 "17","69",73 "18","71",73 "19","79",71 "20","75",78 "21","76",69 "22","73",74 "23","76",71 "24","64",74 "25","81",78 "26","79",76 "27","70",77 "28","79",71 "29","84",73 "30","79",69 "31","69",72 "32","81",76 "33","77",70 "34","77",71 "35","71",69 "36","67",72 "37","70",76 "38","77",73 "39","82",73 "40","72",73arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillCollege Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning

