STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Chapter 15, Problem 33CE
To determine
Check whether it can concluded that more than 60% of the accounts are in arrears for more than three months.
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A Midwest college admissions committee recently conducted a study to determine the relative debt incurred by students receiving their degrees in four years versus those taking more than four years. Some on the committee speculated a four-year student would likely be attending full time, whereas one taking more than four years could have a part-time job. However, average total debt provides only part of the information. Since the average, or mean, is affected by both large and small values, the committee also needed some way to determine the relative variances for the two groups. Samples of size 20 produced standard deviations of 2,636 for four-year graduates and 1,513 for those taking more than four years.
Conduct a test of hypothesis to determine if the standard deviation of the debt for four-year graduates is larger than those taking more than four years. Use a significance level of 0.05.
4. Along with interest rates, life expectancy is a component in pricing financial annuities.
Suppose that you know that last year average life expectancy was 77 years for your annuity
holders. Now you want to know if your clients this year have a longer life expectancy, on
average, so you randomly sample n=20 of your recently deceased annuity holders to see actual
age at death. Using a 5% level of significance, test whether or not the new data shows evidence
of your annuity holders now live longer than 77 years, on average. The data below are the
sample data (in years of life):
(78,75,83,81,81,77,78,79,79,81,76,79,77,76,79,81,73,74,78,79)
a) Does this sample indicate that life expectancy has increased? Test an appropriate
hypothesis and state your conclusion (use a 5% level of significance). Be sure to check the
necessary assumptions and conditions before conducting your test.
b) Construct A 90% confidence interval for the true average age of death for the population
of your annuity…
The Majoring in Money study by Sallie Mae from December 2015 showed that most college students manage their credit cards in a reasonable way. It showed that almost two-thirds of students pay their credit card balance in full every month and
25%
of students who own credit cards make partial payments that exceed the minimum amount due. You are curious to find out if credit card payment behavior of students has changed since 2015 and collect data from a random sample of
370
students. You find that
71
students are making partial payments on their credit cards that exceed the minimum amount due. Using
α=0.01,
complete parts a and b below.
Chapter 15 Solutions
STAT TECH IN BUSINESS & ECON AC
Ch. 15 - A recent insurance industry report indicated that...Ch. 15 - The following hypotheses are given. H0:.70H1:.70 A...Ch. 15 - The following hypotheses are given. H0:=.40H1:.40...Ch. 15 - Prob. 3ECh. 15 - Prob. 4ECh. 15 - Prob. 5ECh. 15 - Prob. 6ECh. 15 - Prob. 2SRCh. 15 - Prob. 7ECh. 15 - The null and alternate hypotheses are: H0:1=2H1:12...
Ch. 15 - Prob. 9ECh. 15 - GfK Research North America conducted identical...Ch. 15 - Prob. 11ECh. 15 - Prob. 12ECh. 15 - Prob. 3SRCh. 15 - Prob. 13ECh. 15 - Prob. 14ECh. 15 - Prob. 15ECh. 15 - Prob. 16ECh. 15 - Prob. 17ECh. 15 - Classic Golf Inc. manages five courses in the...Ch. 15 - Prob. 19ECh. 15 - Prob. 20ECh. 15 - Prob. 4SRCh. 15 - Prob. 21ECh. 15 - Prob. 22ECh. 15 - Prob. 23ECh. 15 - Prob. 24ECh. 15 - Prob. 25ECh. 15 - Advertising expenses are a significant component...Ch. 15 - Prob. 5SRCh. 15 - Prob. 27ECh. 15 - Prob. 28ECh. 15 - Prob. 29ECh. 15 - Prob. 30ECh. 15 - Prob. 31CECh. 15 - Prob. 32CECh. 15 - Prob. 33CECh. 15 - Prob. 34CECh. 15 - Prob. 35CECh. 15 - Research in the gaming industry showed that 10% of...Ch. 15 - Prob. 37CECh. 15 - Prob. 38CECh. 15 - Prob. 39CECh. 15 - Prob. 40CECh. 15 - Prob. 41CECh. 15 - Prob. 42CECh. 15 - The Consumer Confidence Survey is a monthly review...Ch. 15 - Prob. 44CECh. 15 - Prob. 45CECh. 15 - Prob. 46CECh. 15 - Vehicles heading west on Front Street may turn...Ch. 15 - Prob. 48CECh. 15 - Prob. 49CECh. 15 - Prob. 50CECh. 15 - Prob. 51CECh. 15 - Prob. 52CECh. 15 - Prob. 53CECh. 15 - Prob. 54CECh. 15 - Prob. 55CECh. 15 - Prob. 56CECh. 15 - Prob. 57CECh. 15 - Prob. 58CECh. 15 - Prob. 59CECh. 15 - Prob. 60CECh. 15 - Did you ever purchase a bag of MMs candies and...Ch. 15 - Prob. 62DACh. 15 - Prob. 63DACh. 15 - Prob. 64DA
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