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
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Chapter 17, Problem 23CE
To determine
Develop a simple index for the revenue of GE using 2004 as the base period.
Write the conclusion about the change in revenue over the period.
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32. Consider a normally distributed population with mean μ = 80
and standard deviation σ = 14.
a.
Construct the centerline and the upper and lower control
limits for the chart if samples of size 5 are used.
b. Repeat the analysis with samples of size 10.
2080 101
c. Discuss the effect of the sample size on the control limits.
Consider the following hypothesis test.
The following results are for two independent samples taken from the two populations.
Sample 1
Sample 2
n 1 = 80
n 2 = 70
x 1 = 104
x 2 = 106
σ 1 = 8.4
σ 2 = 7.6
What is the value of the test statistic? If required enter negative values as negative numbers (to 2 decimals).
What is the p-value (to 4 decimals)? Use z-table.
With = .05, what is your hypothesis testing conclusion?
Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services (2000 Merrill Lynch Client Satisfaction Survey). Higher ratings on the client satisfaction survey indicate better service with 7 the maximum service rating. Independent samples of service ratings for two financial consultants are summarized here. Consultant A has 10 years of experience, whereas consultant B has 1 year of experience. Use = .05 and test to see whether the consultant with more experience has the higher population mean service rating.
Consultant A
Consultant B
= 16
= 10
= 6.82
= 6.25
= .64
= .75
State the null and alternative hypotheses.H0: 1 - 2 Ha: 1 - 2
Compute the value of the test statistic (to 2 decimals).
What is the p-value?The p-value is
What is your conclusion?
Chapter 17 Solutions
Statistical Techniques in Business and Economics, 16th Edition
Ch. 17 - Prob. 1.1SRCh. 17 - Prob. 1.2SRCh. 17 - Prob. 1ECh. 17 - The table below reports the earnings per share of...Ch. 17 - Prob. 3ECh. 17 - Prob. 4ECh. 17 - Prob. 2SRCh. 17 - Prob. 5ECh. 17 - Prob. 6ECh. 17 - Prob. 7E
Ch. 17 - Prob. 8ECh. 17 - Prob. 3SRCh. 17 - Prob. 9ECh. 17 - Prob. 10ECh. 17 - Prob. 4SRCh. 17 - Prob. 11ECh. 17 - Prob. 5SRCh. 17 - Prob. 6SRCh. 17 - Prob. 7SRCh. 17 - Prob. 13ECh. 17 - Prob. 14ECh. 17 - Prob. 15ECh. 17 - Prob. 16ECh. 17 - Prob. 17CECh. 17 - Prob. 18CECh. 17 - Prob. 19CECh. 17 - Prob. 20CECh. 17 - Prob. 21CECh. 17 - Prob. 22CECh. 17 - Prob. 23CECh. 17 - Prob. 24CECh. 17 - Prob. 25CECh. 17 - Prob. 26CECh. 17 - Prob. 27CECh. 17 - Prob. 28CECh. 17 - Prob. 29CECh. 17 - Prob. 30CECh. 17 - Prob. 31CECh. 17 - Prob. 32CECh. 17 - Prob. 33CECh. 17 - Prob. 34CECh. 17 - Prob. 35CECh. 17 - Prob. 36CECh. 17 - Prob. 37CECh. 17 - Prob. 38CECh. 17 - Prob. 39CECh. 17 - Prob. 40CECh. 17 - Prob. 41CECh. 17 - Prob. 42CECh. 17 - Prob. 43CECh. 17 - Prob. 44CECh. 17 - Prob. 45CECh. 17 - Prob. 46CECh. 17 - Prob. 47CECh. 17 - Prob. 48CECh. 17 - Prob. 49CECh. 17 - Prob. 50CECh. 17 - Prob. 51CECh. 17 - Prob. 52CECh. 17 - Prob. 53CECh. 17 - Prob. 54CECh. 17 - Prob. 55CECh. 17 - Prob. 56DE
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