Stats
5th Edition
ISBN: 9780135163825
Author: De Veaux, Richard D., Velleman, Paul F., BOCK, David E.
Publisher: Pearson,
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Chapter 14, Problem 18E
To determine
Find the standard deviation of the random variables in exercise 16.
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Could you please answer this question using excel. For 1a) I got 84.75 and for part 1b) I got 85.33 and was wondering if you could check if my answers were correct. Thanks
What is one sample T-test? Give an example of business application of this test?
What is Two-Sample T-Test. Give an example of business application of this test?
.What is paired T-test. Give an example of business application of this test?
What is one way ANOVA test. Give an example of business application of this test?
1. One Sample T-Test: Determine whether the average satisfaction rating of customers for a product is significantly different from a hypothetical mean of 75.
(Hints: The null can be about maintaining status-quo or no difference; If your alternative hypothesis is non-directional (e.g., μ≠75), you should use the two-tailed p-value from excel file to make a decision about rejecting or not rejecting null. If alternative is directional (e.g., μ < 75), you should use the lower-tailed p-value. For alternative hypothesis μ > 75, you should use the upper-tailed p-value.)
H0 =
H1=
Conclusion: The p value from one sample t-test is _______. Since the two-tailed p-value…
Using the accompanying Accounting Professionals data to answer the following questions.
a. Find and interpret a 90% confidence interval for the mean years of service.
b. Find and interpret a 90% confidence interval for the proportion of employees who have a graduate degree.
view the Accounting Professionals data.
Employee Years of Service Graduate Degree?1 26 Y2 8 N3 10 N4 6 N5 23 N6 5 N7 8 Y8 5 N9 26 N10 14 Y11 10 N12 8 Y13 7 Y14 27 N15 16 Y16 17 N17 21 N18 9 Y19 9 N20 9 N
Question content area bottom
Part 1
a. A 90% confidence interval for the mean years of service is
(Use ascending order. Round to two decimal places as needed.)
Chapter 14 Solutions
Stats
Ch. 14.1 - 1. One of the authors took his minivan in for...Ch. 14.3 - 2. Suppose the time it takes a customer to get and...Ch. 14 - Prob. 1ECh. 14 - 2. Caffeinated A coffee shop tracks sales and has...Ch. 14 - 3. Oranges again What is the standard deviation...Ch. 14 - 4. Caffeinated again What is the standard...Ch. 14 - 5. Salary An employer pays a mean salary for a...Ch. 14 - 6. Golf scores A golfer keeps track of his score...Ch. 14 - 13. Battery The life span of a calculator battery...Ch. 14 - 14. Ketchup An automatic filling machine in a...
Ch. 14 - 15. Expected value Find the expected value of each...Ch. 14 - 16. Expected value Find the expected value of each...Ch. 14 - 17. Pick a card, any card You draw a card from a...Ch. 14 - 18. You bet! You roll a fair die. If it comes up a...Ch. 14 - 19. Kids A couple plans to have children until...Ch. 14 - 20. Carnival A carnival game offers a $100 cash...Ch. 14 - 21. Software A small software company bids on two...Ch. 14 - Prob. 16ECh. 14 - Prob. 17ECh. 14 - Prob. 18ECh. 14 - Prob. 19ECh. 14 - 26. The die Find the standard deviation of the...Ch. 14 - Prob. 21ECh. 14 - Prob. 22ECh. 14 - Prob. 23ECh. 14 - 30. Red lights A commuter must pass through five...Ch. 14 - 31. Defects A consumer organization inspecting new...Ch. 14 - 32. Insurance An insurance policy costs $100 and...Ch. 14 - Prob. 27ECh. 14 - Day trading An option to buy a stock is priced at...Ch. 14 - Prob. 29ECh. 14 - 36. Contracts Your company bids for two contracts....Ch. 14 - Prob. 31ECh. 14 - Prob. 32ECh. 14 - Prob. 33ECh. 14 - Prob. 34ECh. 14 - Random variables Given independent random...Ch. 14 - 42. Random variables Given independent random...Ch. 14 - Prob. 37ECh. 14 - 44. Garden A company selling vegetable seeds in...Ch. 14 - Prob. 39ECh. 14 - Stop! Find the mean and standard deviation of the...Ch. 14 - Tickets A delivery company’s trucks occasionally...Ch. 14 - Donations Organizers of a televised fundraiser...Ch. 14 - 49. Fire! An insurance company estimates that it...Ch. 14 - Prob. 45ECh. 14 - 52. Pets The American Veterinary Association...Ch. 14 - Prob. 47ECh. 14 - More pets You’re thinking about getting two dogs...Ch. 14 - 55. Medley In the 4 × 100 medley relay event, four...Ch. 14 - Prob. 50ECh. 14 - Prob. 51ECh. 14 - 58. Bike sale The bicycle shop in Exercise 56 will...Ch. 14 - 59. Coffee and doughnuts At a certain coffee shop,...Ch. 14 - Prob. 54E
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- If, based on a sample size of 900,a political candidate finds that 509people would vote for him in a two-person race, what is the 95%confidence interval for his expected proportion of the vote? Would he be confident of winning based on this poll? Question content area bottom Part 1 A 9595% confidence interval for his expected proportion of the vote is (Use ascending order. Round to four decimal places as needed.)arrow_forwardQuestions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.arrow_forwardA population that is uniformly distributed between a=0and b=10 is given in sample sizes 50( ), 100( ), 250( ), and 500( ). Find the sample mean and the sample standard deviations for the given data. Compare your results to the average of means for a sample of size 10, and use the empirical rules to analyze the sampling error. For each sample, also find the standard error of the mean using formula given below. Standard Error of the Mean =sigma/Root Complete the following table with the results from the sampling experiment. (Round to four decimal places as needed.) Sample Size Average of 8 Sample Means Standard Deviation of 8 Sample Means Standard Error 50 100 250 500arrow_forward
- A survey of 250250 young professionals found that two dash thirdstwo-thirds of them use their cell phones primarily for e-mail. Can you conclude statistically that the population proportion who use cell phones primarily for e-mail is less than 0.720.72? Use a 95% confidence interval. Question content area bottom Part 1 The 95% confidence interval is left bracket nothing comma nothing right bracket0.60820.6082, 0.72510.7251. As 0.720.72 is within the limits of the confidence interval, we cannot conclude that the population proportion is less than 0.720.72. (Use ascending order. Round to four decimal places as needed.)arrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forwardA survey of 250 young professionals found that two-thirds of them use their cell phones primarily for e-mail. Can you conclude statistically that the population proportion who use cell phones primarily for e-mail is less than 0.72? Use a 95% confidence interval. Question content area bottom Part 1 The 95% confidence interval is [ ], [ ] As 0.72 is ▼ above the upper limit within the limits below the lower limit of the confidence interval, we ▼ can cannot conclude that the population proportion is less than 0.72. (Use ascending order. Round to four decimal places as needed.)arrow_forward
- I need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forward
- Questions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.arrow_forwardQuestions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.arrow_forwardFrom a sample of 26 graduate students, the mean number of months of work experience prior to entering an MBA program was 34.67. The national standard deviation is known to be18 months. What is a 90% confidence interval for the population mean? Question content area bottom Part 1 A 9090% confidence interval for the population mean is left bracket nothing comma nothing right bracketenter your response here,enter your response here. (Use ascending order. Round to two decimal places as needed.)arrow_forward
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