EBK BUSINESS STATISTICS
8th Edition
ISBN: 9780135179833
Author: STEPHAN
Publisher: VST
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The mean hourly wage for employees in goods-producing industries is currently $24.57. Suppose we take a sample of employees from the manufacturing industry to see if the mean hourly wage differs from the reported mean of $24.57 for the goods-producing industries.
State the null and alternative hypotheses we should use to test whether the population mean hourly wage in the manufacturing industry differs from the population mean hourly wage in the goods-producing industries.
Suppose a sample of 30 employees from the manufacturing industry showed a sample mean of $23.89 per hour. Assume a population standard deviation of $2.40 per hour. With α = .05 as the level of significance, what is your conclusion?
Nature lovers’ association of Australia, launched a campaign to encourage paper less communication and/or recycling of used papers to save the trees to reduce global warming. Hence, many small businesses have scaled up their business such as new forms of online document exchanges and collecting used papers and cardboards from households and companies.
Abita Recycling Ltd is one such company which is operates in Melbourne. The financial analysist of the company has estimated that the firm would make a profit if the mean weekly collection of papers and cardboards from each household exceeded 1KG. To examine the feasibility of a recycling plant, a random sample of 100 households was selected and sample mean and standard deviations are 1.1KG and 0.35KG respectively.
find value of test statistics and null and alternate hypothesis.
Import the data from the Hill City Excel file into Minitab.You are trying to predict Price.Note: Mtn View=1 if there is a mountain view, 0 otherwise. The rest of the variables should be self explanatory.
1.Perform an F Test for overall significance of the model
2.Perform a T test for slope for the age variable
3. Find a 95% confidence interval for the slope of the SqFeet variable4. Create a prediction, CI, and PI for 1 new set of x values (any valid numbers you want), and interpret each.5. Run the residual plots and indicate if they show any problems with the model.
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- In simple linear regression, at what value of the independent variable, X, will the 95% confidence interval for the average value of Y be narrowest? At what value will the 95% prediction interval for the value of Y for a single n ew observation be narrowest?arrow_forwardA Dean of a certain business school is interested in the difference in proportions of A's given by Professors I & II. Suppose the dean has access to 800 grade reports from each professor. It turns out that 240 students received A's from Professor I and 160 students received A's from Professor II. Construct a 95% confidence interval for the true differences in proportions of A's given by the two professors.arrow_forwardCome up with your own data for a problem that would ask for a 90% confidence interval utilizing Z. Clearly label your variables.arrow_forward
- Can you please calculate the 95% confidence interval for this problemarrow_forwardOne year, the mean age of an inmate on death row was 38.9years. A sociologist wondered whether the mean age of a death-row inmate has changed since then. She randomly selects 32 death-row inmates and finds that their mean age is 37.3, with a standard deviation of 9.4. Construct a 95% confidence interval about the mean age.arrow_forwardSuppose we take a SRS of high school seniors and get a 95% confidence interval that 250 to 278 seniors plan to attend prom. What is the point estimator and margin of error?arrow_forward
- 1. a. You want to estimate the mean hourly yield for a process that manufactures an antibiotic. You observe the process for 50 hourly periods chosen at random, with the results ?̅= 31 ounces per hour and ? = 3. Estimate the mean hourly yield for the process using a 90% and 95% confidence interval. no 2 di fotoarrow_forward8. Suppose you need to compute a 90% confidence interval for a populationarrow_forwardAn e-business manager wants to estimate the mean exposure to a certain type of internet ads. Originally she constructed a 80% confidence interval and then increased the confidence level to 85%. Choose the correct statement. The confidence interval became shorter. There is no relation between the length of the confidence interval and the confidence level. The confidence interval became longer. The confidence interval didn't change. None of the above.arrow_forward
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