ESSEN OF BUSINESS ANALYTICS (LL) BOM
2nd Edition
ISBN: 9781337128629
Author: Camm
Publisher: CENGAGE L
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Chapter 7, Problem 11P
The American Association of Individual Investors (AAII) On-Line Discount Broker Survey polls members on their experiences with electronic trades handled by discount brokers. As part of the survey, members were asked to rate their satisfaction with the trade price and the speed of execution, as well as provide an overall satisfaction rating. Possible responses (scores) were no opinion (0), unsatisfied (1), somewhat satisfied (2), satisfied (3), and very satisfied (4). For each broker, summary scores were computed by computing a weighted average of the scores provided by each respondent. A portion the survey results follow (AAII web site. February 7, 2012).
- a. Develop an estimated regression equation using trade price and speed of execution to predict overall satisfaction with the broker. Interpret the coefficient of determination.
- b. Use the t test to determine the significance of each independent variable. What are your conclusions at the 0.05 level of significance?
- c. Interpret the estimated regression parameters. Are the relationships indicated by these estimates what you would expect?
- d. Finger Lakes Investments has developed a new electronic trading system and would like to predict overall customer satisfaction assuming they can provide satisfactory service levels (3) for both trade price and speed of execution. Use the estimated regression equation developed in part (a) to predict overall satisfaction level for Finger Lakes Investments if they can achieve these performance levels.
- e. What concerns (if any) do you have with regard to the possible responses the respondents could select on the survey.
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9.2 Testing the Mean mu:
Problem 3
(1 point)
Test the claim that the population of sophomore college
students has a mean grade point average greater than 2.2.
Sample statistics include n = 71, x = 2.44, and s = 0.9.
Use a significance level of a = 0.01.
The test statistic is
The P-Value is between :
The final conclusion is
< P-value <
A. There is sufficient evidence to support the claim that
the mean grade point average is greater than 2.2.
○ B. There is not sufficient evidence to support the claim
that the mean grade point average is greater than 2.2.
Note: You can earn partial credit on this problem.
Note: You are in the Reduced Scoring Period. All work counts for
50% of the original.
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Oli
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There are four white, fourteen blue and five green marbles in a bag. A marble is selected from the bag without looking. Find the odds of the following:
The odds against selecting a green marble.
The odds in favour of not selecting a green marble
The odds in favor of the marble selected being either a white or a blue marble.
What is true about the above odds? Explain
Please show as much work as possible to clearly show the steps you used to find each solution. If you plan to use a calculator, please be sure to clearly indicate your strategy.
1. The probability of a soccer game in a particular league going into overtime is 0.125. Find the following:
a. The odds in favour of a game going into overtime.
b. The odds in favour of a game not going into overtime.
c. If the teams in the league play 100 games in a season, about how many games would you expect to go into overtime?
Chapter 7 Solutions
ESSEN OF BUSINESS ANALYTICS (LL) BOM
Ch. 7 - Bicycling World, a magazine devoted to cycling,...Ch. 7 - In a manufacturing process the assembly line speed...Ch. 7 - Jensen Tire Auto is deciding whether to purchase...Ch. 7 - A sociologist was hired by a large city hospital...Ch. 7 - The regional transit authority for a major...Ch. 7 - A marketing professor at Givens College is...Ch. 7 - The Dow Jones Industrial Average (DJIA) and the...Ch. 7 - The Toyota Camry is one of the best-selling cars...Ch. 7 - Dixie Showtime Movie Theaters, Inc., owns and...Ch. 7 - Prob. 10P
Ch. 7 - The American Association of Individual Investors...Ch. 7 - The National Football League (NFL) records a...Ch. 7 - Johnson Filtration. Inc., provides maintenance...Ch. 7 - A study investigated the relationship between...Ch. 7 - The U.S. Department of Energys Fuel Economy Guide...Ch. 7 - A highway department is studying the relationship...Ch. 7 - A sample containing years to maturity and...Ch. 7 - In 2011, home prices and mortgage rates fell so...Ch. 7 - A recent 10-year study conducted by a research...Ch. 7 - The Scholastic Aptitude Test (or SAT) is a...Ch. 7 - Consider again the example introduced in Section...Ch. 7 - Alumni donations are an important source of...
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