STATISTICS F/BUSINESS+ECONOMICS-TEXT
13th Edition
ISBN: 9781305881884
Author: Anderson
Publisher: CENGAGE L
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Textbook Question
Chapter 10.3, Problem 27E
A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home use. Selling prices obtained from a sample of retail outlets follow.
| Retail Outlet | Model | Price ($) |
| Deluxe | Standard | |
| 1 | 39 | 27 |
| 2 | 39 | 28 |
| 3 | 45 | 35 |
| 4 | 38 | 30 |
| 5 | 40 | 30 |
| 6 | 39 | 34 |
| 7 | 35 | 29 |
- a. The manufacturer’s suggested retail prices for the two models show a $10 price differential. Use a .05 level of significance and test that the
mean difference between the prices of the two models is $10. - b. What is the 95% confidence interval for the difference between the mean prices of the two models?
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Question 2: When John started his first job, his first end-of-year salary was $82,500. In the following years, he received salary raises as shown in the following table.
Fill the Table: Fill the following table showing his end-of-year salary for each year. I have already provided the end-of-year salaries for the first three years. Calculate the end-of-year salaries for the remaining years using Excel. (If you Excel answer for the top 3 cells is not the same as the one in the following table, your formula / approach is incorrect) (2 points)
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Hint for the first part of question 2: To assist you with filling out the table in the first part of the question,…
Consider a sample with data values of 27, 25, 20, 15, 30, 34, 28, and 25. Compute the range, interquartile range, variance, and standard deviation (to a maximum of 2 decimals, if decimals are necessary).
Range
Interquartile range
Variance
Standard deviation
Perform a Step by step following tests in Microsoft Excel. Each of the following is 0.5 points, with a total of 6 points. Provide your answers in the following table.
Median
Standard Deviation
Minimum
Maximum
Range
1st Quartile
2nd Quartile
3rd Quartile
Skewness; provide a one sentence explanation of what does the skewness value indicates
Kurtosis; provide a one sentence explanation of what does the kurtosis value indicates
Make a labelled histogram; no point awarded if it is not labelled
Make a labelled boxplot; no point awarded if it is not labelled
Data
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Chapter 10 Solutions
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Ch. 10.1 - The following results come from two independent...Ch. 10.1 - Consider the following hypothesis test....Ch. 10.1 - Consider the following hypothesis test....Ch. 10.1 - Cond Nast Traveler conducts an annual survey in...Ch. 10.1 - The USA Today reports that the average expenditure...Ch. 10.1 - Suppose that you are responsible for making...Ch. 10.1 - Consumer Reports uses a survey of readers to...Ch. 10.1 - Will improving customer service result in higher...Ch. 10.2 - The following results are for independent random...Ch. 10.2 - Consider the following hypothesis test....
Ch. 10.2 - Consider the following data for two independent...Ch. 10.2 - The U.S. Department of Transportation provides the...Ch. 10.2 - The average annual cost (including tuition, room,...Ch. 10.2 - Are nursing salaries in Tampa, Florida, lower than...Ch. 10.2 - Commercial real estate prices and rental rates...Ch. 10.2 - The College Board provided comparisons of...Ch. 10.2 - Periodically, Merrill Lynch customers are asked to...Ch. 10.2 - Researchers at Purdue University and Wichita State...Ch. 10.3 - Consider the following hypothesis test. H0:d0Ha:d0...Ch. 10.3 - The following data are from matched samples taken...Ch. 10.3 - A market research firm used a sample of...Ch. 10.3 - The price per share of stock for a sample of 25...Ch. 10.3 - Bank of Americas Consumer Spending Survey...Ch. 10.3 - The Global Business Travel Association reported...Ch. 10.3 - The College Board SAT college entrance exam...Ch. 10.3 - Scores in the first and fourth (final) rounds for...Ch. 10.3 - A manufacturer produces both a deluxe and a...Ch. 10.4 - Consider the following results for independent...Ch. 10.4 - Consider the hypothesis test H0:p1p20Ha:p1p20 The...Ch. 10.4 - A Businessweek/Harris survey asked senior...Ch. 10.4 - Forbes reports that women trust recommendations...Ch. 10.4 - Researchers with Oceana, a group dedicated to...Ch. 10.4 - Minnesota had the highest turnout rate of any...Ch. 10.4 - Oil wells are expensive to drill, and dry wells...Ch. 10.4 - The Adecco Workplace Insights Survey sampled men...Ch. 10.4 - Winter visitors are extremely important to the...Ch. 10.4 - The Adecco Workplace Insights Survey sampled men...Ch. 10 - Safegate Foods, Inc., is redesigning the checkout...Ch. 10 - Home values tend to increase over time under...Ch. 10 - Mutual funds are classified as load or no-load...Ch. 10 - The National Association of Home Builders provided...Ch. 10 - In Born TogetherReared Apart: The Landmark...Ch. 10 - Country Financial, a financial services company,...Ch. 10 - A large automobile insurance company selected...Ch. 10 - Medical tests were conducted to learn about...Ch. 10 - Vacation occupancy rates were expected to be up...Ch. 10 - Winter visitors are extremely important to the...Ch. 10 - One of the researchers voiced concern about the...
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