Basic Business Statistics, Student Value Edition (13th Edition)
13th Edition
ISBN: 9780321946393
Author: Mark L. Berenson, David M. Levine, Kathryn A. Szabat
Publisher: PEARSON
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Textbook Question
Chapter 7, Problem 17PS
The Chartered Financial Analyst (CFA) institute reported that
a. What is the
b. The probability is
c. The probability is
d. Suppose you selected a sample of 400 CFA members. How does this change your answers in (a) through (c)?
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You receive a brochure from a large university. The brochure indicates that the mean class size for full-time faculty is fewer than 31 students. You want to test this claim. You randomly select 18
classes taught by full-time faculty and determine the class size of each. The results are shown in the table below. At α = 0.05, can you support the university's claim? Complete parts (a) through (d)
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36
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30吋
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(a) Write the claim mathematically and identify Ho and Ha.
Which of the following correctly states Ho and H₂?
○ A. Ho: μ31
Нa: μ≤31
E. Ho: "=31
Ha: μ 31
OF. Ho: μ=31
Нa: μ31
Test the claim about the population mean μ at the level of significance α. Assume the population is normally distributed.
μ
Claim: <4715; α = 0.05
Sample statistics: x = 4917, s = 5501, n = 54
What are the null and alternative hypotheses?
Ho:
Ha
(Type integers or decimals. Do not round.)
Find the standardized test statistic t.
t = ☐
(Round to two decimal places as needed.)
Find the P-value.
P =
(Round to three decimal places as needed.)
Decide whether to reject or fail to reject the null hypothesis. Choose the correct answer below.
Ho. There
enough evidence at the ☐ % level of significance to
Fail to reject
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....
the claim.
A politician claims that the mean salary for managers in his state is more than the national mean, $85,000. Assume the the population is normally distributed and the population standard deviation is
$8700. The salaries (in dollars) for a random sample of 30 managers in the state are listed. At α = 0.01, is there enough evidence to support the claim? Use technology.
92,421
81,412
85,143
97,220
99,317
71,884
97,762
86,108
98,385
73,869
81,391
95,997
98,828
86,476
77,893
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90,472
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92,183
94,649
77,880
91,821
90,907
84,640
78,479
81,703
89,573
89,948
70,938
81,300
(a) Identify the null hypothesis and alternative hypothesis.
O A. Ho: " =85,000
Нa: μ85,000
D. Hoi u >85,000
Нa: μ≤85,000
(b) Identify the standardized test statistic.
Z=
B. Hoμ≥85,000
Haμ85,000
Haμ≤85,000
(Round the final answer to two places as needed. Round all intermediate values to three places as needed.)
(c) Find the P-value. Use technology.
(Round to three decimal places as needed.)
(d) Decide whether to reject…
Chapter 7 Solutions
Basic Business Statistics, Student Value Edition (13th Edition)
Ch. 7 - Given a normal distribution with =100and=10, if...Ch. 7 - Given a normal distribution with =50and=5, if you...Ch. 7 - For each of the following three populations,...Ch. 7 - The following data represent the number of days...Ch. 7 - The diameter of a brand of tennis balls is...Ch. 7 - Prob. 6PSCh. 7 - According to a mashable post. time spent on...Ch. 7 - Today, full-time college students report spending...Ch. 7 - In a random sample of 64 people, 48 are classified...Ch. 7 - A random sample of 50 households was selected for...
Ch. 7 - The following data represent the responses (Y for...Ch. 7 - A political pollster is conducting an analysis of...Ch. 7 - You plan to conduct a marketing experiment in...Ch. 7 - Prob. 14PSCh. 7 - Prob. 15PSCh. 7 - Prob. 16PSCh. 7 - The Chartered Financial Analyst (CFA) institute...Ch. 7 - A Pew Research Center project on the state of news...Ch. 7 - Why is the sample mean an unbiased estimator of...Ch. 7 - Why does the standard error of the mean decrease...Ch. 7 - Why does the sampling distribution of the mean...Ch. 7 - What is the difference between a population...Ch. 7 - Under what circumstances does the sampling...Ch. 7 - An industrial sewing machine uses ball bearings...Ch. 7 - The fill amount of bottles of a soft drinks is...Ch. 7 - Prob. 26PSCh. 7 - In Problem 7.26, suppose that the mean amount of...Ch. 7 - Prob. 28PSCh. 7 - Prob. 29PS
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