Statistical Techniques in Business and Economics, 16th Edition
16th Edition
ISBN: 9780078020520
Author: Douglas A. Lind, William G Marchal, Samuel A. Wathen
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Videos
Question
Chapter 16, Problem 41DE
a.
To determine
Find whether there is a difference in the selling price of the homes in the several townships.
b.
To determine
Check whether there is a difference in the selling prices of the homes corresponds to number of bedrooms.
c.
To determine
Find whether there is any difference in the distribution of the center of the city of the homes that have a pool and that did not have a pool.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Let us suppose we have some article reported on a study of potential sources of injury to equine veterinarians conducted at a
university veterinary hospital. Forces on the hand were measured for several common activities that veterinarians engage in when
examining or treating horses. We will consider the forces on the hands for two tasks, lifting and using ultrasound. Assume that both
sample sizes are 6, the sample mean force for lifting was 6.2 pounds with standard deviation 1.5 pounds, and the sample mean force
for using ultrasound was 6.4 pounds with standard deviation 0.3 pounds. Assume that the standard deviations are known.
Suppose that you wanted to detect a true difference in mean force of 0.25 pounds on the hands for these two activities. Under the null
hypothesis, 40 = 0. What level of type II error would you recommend here?
Round your answer to four decimal places (e.g. 98.7654). Use a
= 0.05.
β
= i
What sample size would be required?
Assume the sample sizes are to be equal.…
=
Consider the hypothesis test Ho: μ₁ = μ₂ against H₁ μ₁ μ2. Suppose that sample sizes are n₁ =
15 and n₂ =
15, that x1 = 4.7
and X2 = 7.8 and that s² = 4 and s² = 6.26. Assume that o and that the data are drawn from normal distributions. Use
απ 0.05.
(a) Test the hypothesis and find the P-value.
(b) What is the power of the test in part (a) for a true difference in means of 3?
(c) Assuming equal sample sizes, what sample size should be used to obtain ẞ = 0.05 if the true difference in means is - 2? Assume
that α = 0.05.
(a) The null hypothesis is
98.7654).
rejected. The P-value is 0.0008
(b) The power is 0.94
. Round your answer to four decimal places (e.g.
Round your answer to two decimal places (e.g. 98.76).
(c) n₁ = n2 =
1
. Round your answer to the nearest integer.
Consider the hypothesis test Ho:
=
622 against H₁: 6 > 62. Suppose that the sample sizes are n₁ =
20 and n₂ =
8, and that
=
4.5; s=2.3. Use a = 0.01.
(a) Test the hypothesis.
Round your answers to two decimal places (e.g. 98.76).
The test statistic is fo
=
i
The critical value is f =
Conclusion:
i
the null hypothesis at a = 0.01.
(b) Construct the confidence interval on 02/022 which can be used to test the hypothesis:
(Round your answer to two decimal places (e.g. 98.76).)
i
Chapter 16 Solutions
Statistical Techniques in Business and Economics, 16th Edition
Ch. 16 - Prob. 1SRCh. 16 - Prob. 1ECh. 16 - Prob. 2ECh. 16 - Calorie Watchers has low-calorie breakfasts,...Ch. 16 - Prob. 4ECh. 16 - Prob. 2SRCh. 16 - Prob. 5ECh. 16 - Prob. 6ECh. 16 - Prob. 7ECh. 16 - Prob. 8E
Ch. 16 - Prob. 3SRCh. 16 - Prob. 9ECh. 16 - Prob. 10ECh. 16 - Prob. 4SRCh. 16 - Prob. 11ECh. 16 - Prob. 12ECh. 16 - Prob. 13ECh. 16 - Prob. 14ECh. 16 - Prob. 5SRCh. 16 - Prob. 15ECh. 16 - Prob. 16ECh. 16 - Prob. 17ECh. 16 - Prob. 18ECh. 16 - Prob. 6SRCh. 16 - Prob. 19ECh. 16 - Prob. 20ECh. 16 - Prob. 21ECh. 16 - Prob. 22ECh. 16 - Prob. 23ECh. 16 - Prob. 24ECh. 16 - Prob. 7SRCh. 16 - Prob. 25ECh. 16 - Prob. 26ECh. 16 - Prob. 27ECh. 16 - Prob. 28ECh. 16 - Prob. 29CECh. 16 - Prob. 30CECh. 16 - Prob. 31CECh. 16 - Prob. 32CECh. 16 - Prob. 33CECh. 16 - Prob. 34CECh. 16 - Prob. 35CECh. 16 - Prob. 36CECh. 16 - Prob. 37CECh. 16 - Prob. 38CECh. 16 - Prob. 39CECh. 16 - Professor Bert Forman believes the students who...Ch. 16 - Prob. 41DECh. 16 - Refer to the Baseball 2012 data, which report...Ch. 16 - Prob. 43DECh. 16 - Prob. 1PCh. 16 - The manufacturer of childrens raincoats wants to...Ch. 16 - Prob. 3PCh. 16 - Prob. 4PCh. 16 - B. Thomas Testing Labs John Thomas, the owner of...Ch. 16 - Prob. 1.1PTCh. 16 - Prob. 1.2PTCh. 16 - Prob. 1.3PTCh. 16 - Prob. 1.4PTCh. 16 - Prob. 1.5PTCh. 16 - Prob. 1.6PTCh. 16 - Prob. 1.7PTCh. 16 - Prob. 1.8PTCh. 16 - Prob. 1.9PTCh. 16 - Prob. 1.10PTCh. 16 - Prob. 2.1PTCh. 16 - Prob. 2.2PTCh. 16 - Prob. 2.3PTCh. 16 - Prob. 2.4PT
Knowledge Booster
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.Similar questions
- 2011 listing by carmax of the ages and prices of various corollas in a ceratin regionarrow_forwardس 11/ أ . اذا كانت 1 + x) = 2 x 3 + 2 x 2 + x) هي متعددة حدود محسوبة باستخدام طريقة الفروقات المنتهية (finite differences) من جدول البيانات التالي للدالة (f(x . احسب قيمة . ( 2 درجة ) xi k=0 k=1 k=2 k=3 0 3 1 2 2 2 3 αarrow_forward1. Differentiate between discrete and continuous random variables, providing examples for each type. 2. Consider a discrete random variable representing the number of patients visiting a clinic each day. The probabilities for the number of visits are as follows: 0 visits: P(0) = 0.2 1 visit: P(1) = 0.3 2 visits: P(2) = 0.5 Using this information, calculate the expected value (mean) of the number of patient visits per day. Show all your workings clearly. Rubric to follow Definition of Random variables ( clearly and accurately differentiate between discrete and continuous random variables with appropriate examples for each) Identification of discrete random variable (correctly identifies "number of patient visits" as a discrete random variable and explains reasoning clearly.) Calculation of probabilities (uses the probabilities correctly in the calculation, showing all steps clearly and logically) Expected value calculation (calculate the expected value (mean)…arrow_forward
- if the b coloumn of a z table disappeared what would be used to determine b column probabilitiesarrow_forwardConstruct a model of population flow between metropolitan and nonmetropolitan areas of a given country, given that their respective populations in 2015 were 263 million and 45 million. The probabilities are given by the following matrix. (from) (to) metro nonmetro 0.99 0.02 metro 0.01 0.98 nonmetro Predict the population distributions of metropolitan and nonmetropolitan areas for the years 2016 through 2020 (in millions, to four decimal places). (Let x, through x5 represent the years 2016 through 2020, respectively.) x₁ = x2 X3 261.27 46.73 11 259.59 48.41 11 257.96 50.04 11 256.39 51.61 11 tarrow_forwardIf the average price of a new one family home is $246,300 with a standard deviation of $15,000 find the minimum and maximum prices of the houses that a contractor will build to satisfy 88% of the market valuearrow_forward
- 21. ANALYSIS OF LAST DIGITS Heights of statistics students were obtained by the author as part of an experiment conducted for class. The last digits of those heights are listed below. Construct a frequency distribution with 10 classes. Based on the distribution, do the heights appear to be reported or actually measured? Does there appear to be a gap in the frequencies and, if so, how might that gap be explained? What do you know about the accuracy of the results? 3 4 555 0 0 0 0 0 0 0 0 0 1 1 23 3 5 5 5 5 5 5 5 5 5 5 5 5 6 6 8 8 8 9arrow_forwardA side view of a recycling bin lid is diagramed below where two panels come together at a right angle. 45 in 24 in Width? — Given this information, how wide is the recycling bin in inches?arrow_forward1 No. 2 3 4 Binomial Prob. X n P Answer 5 6 4 7 8 9 10 12345678 8 3 4 2 2552 10 0.7 0.233 0.3 0.132 7 0.6 0.290 20 0.02 0.053 150 1000 0.15 0.035 8 7 10 0.7 0.383 11 9 3 5 0.3 0.132 12 10 4 7 0.6 0.290 13 Poisson Probability 14 X lambda Answer 18 4 19 20 21 22 23 9 15 16 17 3 1234567829 3 2 0.180 2 1.5 0.251 12 10 0.095 5 3 0.101 7 4 0.060 3 2 0.180 2 1.5 0.251 24 10 12 10 0.095arrow_forward
- step by step on Microssoft on how to put this in excel and the answers please Find binomial probability if: x = 8, n = 10, p = 0.7 x= 3, n=5, p = 0.3 x = 4, n=7, p = 0.6 Quality Control: A factory produces light bulbs with a 2% defect rate. If a random sample of 20 bulbs is tested, what is the probability that exactly 2 bulbs are defective? (hint: p=2% or 0.02; x =2, n=20; use the same logic for the following problems) Marketing Campaign: A marketing company sends out 1,000 promotional emails. The probability of any email being opened is 0.15. What is the probability that exactly 150 emails will be opened? (hint: total emails or n=1000, x =150) Customer Satisfaction: A survey shows that 70% of customers are satisfied with a new product. Out of 10 randomly selected customers, what is the probability that at least 8 are satisfied? (hint: One of the keyword in this question is “at least 8”, it is not “exactly 8”, the correct formula for this should be = 1- (binom.dist(7, 10, 0.7,…arrow_forwardKate, Luke, Mary and Nancy are sharing a cake. The cake had previously been divided into four slices (s1, s2, s3 and s4). What is an example of fair division of the cake S1 S2 S3 S4 Kate $4.00 $6.00 $6.00 $4.00 Luke $5.30 $5.00 $5.25 $5.45 Mary $4.25 $4.50 $3.50 $3.75 Nancy $6.00 $4.00 $4.00 $6.00arrow_forwardFaye cuts the sandwich in two fair shares to her. What is the first half s1arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Functions and Change: A Modeling Approach to Coll...
Algebra
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Cengage Learning
Hypothesis Testing using Confidence Interval Approach; Author: BUM2413 Applied Statistics UMP;https://www.youtube.com/watch?v=Hq1l3e9pLyY;License: Standard YouTube License, CC-BY
Hypothesis Testing - Difference of Two Means - Student's -Distribution & Normal Distribution; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=UcZwyzwWU7o;License: Standard Youtube License