Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 17, Problem 50CE
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Find the value index for 2013 using 1990 as the base period.
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Students in an online course are each randomly assigned to receive either standard practice exercises or adaptivepractice exercises. For the adaptive practice exercises, the next question asked is determined by whether the studentgot the previous question correct. The teacher of the course wants to determine whether there is a differencebetween the two practice exercise types by comparing the proportion of students who pass the course from eachgroup. The teacher plans to test the null hypothesis that versus the alternative hypothesis , whererepresents the proportion of students who would pass the course using standard practice exercises andrepresents the proportion of students who would pass the course using adaptive practice exercises.The teacher knows that the percent confidence interval for the difference in proportion of students passing thecourse for the two practice exercise types (standard minus adaptive) is and the percent…
Carpetland salespersons average $8,000 per week in sales. Steve Contois, the firm's vice president, proposes a compensation plan with new selling incentives. Steve hopes that the results of a trial selling period will enable him to conclude that the compensation plan increases the average sales per salesperson.
a. Develop the appropriate null and alternative hypotheses.H 0: H a:
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Chapter 17 Solutions
Statistical Techniques in Business and Economics
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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- 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.…arrow_forward= 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.arrow_forwardConsider 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).) iarrow_forward
- 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
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