EBK BASIC BUSINESS STATISTICS
14th Edition
ISBN: 9780134685090
Author: STEPHAN
Publisher: VST
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Chapter 7, Problem 19PS
The topic of global warming increasingly appears in the news. It has the potential to impact companies’ operations through changes in governmental regulations, new reporting requirements, necessary operational changes, and so on. The institute of Management Account (IMA) conducted a survey of senior finance professionals to gauge members’ thoughts on global warning and its impact on their companies. The survey found that 65% of senior finance professionals believe that global warming is having a significant impact on the environment.
Suppose that you select a sample of 100 senior finance professionals.
a. What is the
b. The probability is 90% that the sample percentage will be contained within what symmetrical limits of the population percentage?
c. The probability is 95% that the sample percentage will be contained within what symmetrical limits of the population percentage?
d. Suppose you selected a sample of 400 senior finance professionals. How does this change your answer in (a) through (c)?
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Students have asked these similar questions
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 7 Solutions
EBK BASIC BUSINESS STATISTICS
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 amount of water in a two-liter bottle is...Ch. 7 - The weight of an energy bar is approximately...Ch. 7 - The diameter of a brand of tennis balls is...Ch. 7 - The U.S. Census Bureau announced that the median...Ch. 7 - According to a report by App Annie, a business...Ch. 7 - According to the National Survey of Student...
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 - What do millennials around the world want in a...Ch. 7 - The goal of corporate sustainability is to manage...Ch. 7 - Prob. 18PSCh. 7 - The topic of global warming increasingly appears...Ch. 7 - An IAB study on the state of original digital...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. 28PSCh. 7 - In problem 7.28, suppose that the mean amount of...Ch. 7 - Prob. 30PSCh. 7 - The article mentioned in Problem 7.30 reported...
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