Statistics for Business and Economics (13th Edition)

13th Edition

ISBN: 9780134506593

Author: James T. McClave, P. George Benson, Terry Sincich

Publisher: PEARSON

See similar textbooks

Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Videos

Textbook Question

Chapter 12.7, Problem 12.78ACI

Homework assistance for accounting students. Refer to the Journal of Accounting Education (Vol. 25, 2007) study of assisting accounting students with their homework, Exercise 9.30e (p. 521). Recall that 175 accounting students took a pretest on a topic not covered in class and then each was given a homework problem to solve on the same topic. The students were assigned to one of three homework assistance groups. Some students received the completed solution, some were given check figures at various steps of the solution, and some received no help at all. After finishing the homework, the students were all given a posttest on the subject. The dependent variable of interest was the knowledge gain (or test score improvement). These data are saved in the file.

a. Propose a model for the knowledge gain (y) as a function of the qualitative variable, homework assistance group.
b. In terms of the (3's in the model, give an expression for the difference between the mean knowledge gains of students in the “completed solution” and “no help” groups.
c. Fit the model to the data and give the least squares prediction equation.
d. Conduct the global F-test for model utility using a=.05. Interpret the results, practically.
e. Show that the results, part d, agree with the conclusions reached in Exercise 9.30e.

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 + ...

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 12.7, Problem 12.77ACI

Chapter 12.7, Problem 12.79ACI

Chapter 12 Solutions

Statistics for Business and Economics (13th Edition)

Ch. 12.3 - Write a first-order model relating E(y) to a. two...Ch. 12.3 - Minitab was used to fit the model E(y) = (0 + 1x1...Ch. 12.3 - Suppose you fit the multiple regression model y =0...Ch. 12.3 - Suppose you fit the first-order multiple...Ch. 12.3 - Prob. 12.5LM Ch. 12.3 - Prob. 12.6LM Ch. 12.3 - Prob. 12.7LM Ch. 12.3 - If the analysis of variance F-test leads to the...Ch. 12.3 - Ambiance of 5-star hotels. Although invisible and...Ch. 12.3 - Forecasting movie revenues with Twitter. Refer to...

Knowledge Booster

$Statistics$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.