Statistical Reasoning for Everyday Life (5th Edition)
5th Edition
ISBN: 9780134494043
Author: Jeff Bennett, William L. Briggs, Mario F. Triola
Publisher: PEARSON
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Chapter 7.1, Problem 1E
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Could you please answer this question using excel. For 1a) I got 84.75 and for part 1b) I got 85.33 and was wondering if you could check if my answers were correct. Thanks
What is one sample T-test? Give an example of business application of this test?
What is Two-Sample T-Test. Give an example of business application of this test?
.What is paired T-test. Give an example of business application of this test?
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1. One Sample T-Test: Determine whether the average satisfaction rating of customers for a product is significantly different from a hypothetical mean of 75.
(Hints: The null can be about maintaining status-quo or no difference; If your alternative hypothesis is non-directional (e.g., μ≠75), you should use the two-tailed p-value from excel file to make a decision about rejecting or not rejecting null. If alternative is directional (e.g., μ < 75), you should use the lower-tailed p-value. For alternative hypothesis μ > 75, you should use the upper-tailed p-value.)
H0 =
H1=
Conclusion: The p value from one sample t-test is _______. Since the two-tailed p-value…
Using the accompanying Accounting Professionals data to answer the following questions.
a. Find and interpret a 90% confidence interval for the mean years of service.
b. Find and interpret a 90% confidence interval for the proportion of employees who have a graduate degree.
view the Accounting Professionals data.
Employee Years of Service Graduate Degree?1 26 Y2 8 N3 10 N4 6 N5 23 N6 5 N7 8 Y8 5 N9 26 N10 14 Y11 10 N12 8 Y13 7 Y14 27 N15 16 Y16 17 N17 21 N18 9 Y19 9 N20 9 N
Question content area bottom
Part 1
a. A 90% confidence interval for the mean years of service is
(Use ascending order. Round to two decimal places as needed.)
Chapter 7 Solutions
Statistical Reasoning for Everyday Life (5th Edition)
Ch. 7.1 - Correlation. What is a correlation? Give three...Ch. 7.1 - Scatterplot. What is a scatterplot, and how is one...Ch. 7.1 - Types of Correlation. Define and distinguish...Ch. 7.1 - Correlation Coefficient. What does the correlation...Ch. 7.1 - Does It Make Sense? For Exercises 58, determine...Ch. 7.1 - Does It Make Sense? For Exercises 58, determine...Ch. 7.1 - Does It Make Sense? For Exercises 58, determine...Ch. 7.1 - Does It Make Sense? For Exercises 58, determine...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...
Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Crickets and Temperature. One classic example of a...Ch. 7.1 - Two-Day Forecast. Figure 7.8 shows a scatterplot...Ch. 7.1 - Properties of the Correlation Coefficient. For...Ch. 7.1 - Properties of the Correlation Coefficient. For...Ch. 7.1 - Properties of the Correlation Coefficient. For...Ch. 7.1 - Properties of the Correlation Coefficient. For...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Prob. 26ECh. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Your Own Positive Correlations. Give examples of...Ch. 7.1 - Your Own Negative Correlations. Give examples of...Ch. 7.2 - Outliers. Briefly explain how an outlier can make...Ch. 7.2 - Grouped Data. Briefly explain how data that...Ch. 7.2 - Explanations for Correlation. What are the three...Ch. 7.2 - Prob. 4ECh. 7.2 - Does It Make Sense? For Exercises 58, determine...Ch. 7.2 - Does It Make Sense? For Exercises 58, determine...Ch. 7.2 - Does It Make Sense? For Exercises 58, determine...Ch. 7.2 - Does It Make Sense? For Exercises 58, determine...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Outlier Effects. Consider the scatterplot in...Ch. 7.2 - Outlier Effects. Consider the scatterplot in...Ch. 7.2 - Footprint and Height. The following table lists...Ch. 7.2 - January and July High Temperatures. The following...Ch. 7.2 - Birth and Death Rates. Figure 7.17 shows the birth...Ch. 7.2 - Penny Weight and Date. The scatterplot in Figure...Ch. 7.3 - Best-Fit Line. What is a best-fit line? How is a...Ch. 7.3 - Prob. 2ECh. 7.3 - Interpreting r2. What does the square of the...Ch. 7.3 - Prob. 4ECh. 7.3 - Prob. 5ECh. 7.3 - Does It Make Sense? For Exercises 58, determine...Ch. 7.3 - Does It Make Sense? For Exercises 58, determine...Ch. 7.3 - Does It Make Sense? For Exercises 58, determine...Ch. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Prob. 11ECh. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Prob. 15ECh. 7.3 - Prob. 16ECh. 7.4 - Correlation and Causality. What is the difference...Ch. 7.4 - Prob. 2ECh. 7.4 - Establishing Causality. Briefly state in your own...Ch. 7.4 - Confidence in Causality. Describe three levels of...Ch. 7.4 - Prob. 5ECh. 7.4 - Does It Make Sense? For Exercises 58, determine...Ch. 7.4 - Does It Make Sense? For Exercises 58, determine...Ch. 7.4 - Does It Make Sense? For Exercises 58, determine...Ch. 7.4 - Physical Models. For Exercises 912, determine...Ch. 7.4 - Physical Models. For Exercises 912, determine...Ch. 7.4 - Physical Models. For Exercises 912, determine...Ch. 7.4 - Physical Models. For Exercises 912, determine...Ch. 7.4 - Altitude and Health. When some people climb to...Ch. 7.4 - Smoking and Lung Cancer. There is a strong...Ch. 7.4 - Other Lung Cancer Causes. Several things besides...Ch. 7.4 - Longevity of Orchestra Conductors. A famous study...Ch. 7.4 - Older Moms. A study reported in Nature claims that...Ch. 7.4 - High-Voltage Power Lines. Suppose that people...Ch. 7.4 - Gun Control. Those who favor gun control often...Ch. 7.4 - Vasectomies and Prostate Cancer. The article Does...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - For 10 pairs of sample data values, the...Ch. 7 - In a study involving randomly selected subjects,...Ch. 7 - A researcher collects paired sample data values...Ch. 7 - Estimate the value of the linear correlation...Ch. 7 - Fill in the blanks: Every possible correlation...Ch. 7 - Which of the following are likely to have a...Ch. 7 - For a collection of 50 pairs of sample data...Ch. 7 - Estimate the correlation coefficient for the data...Ch. 7 - Refer again to the scatterplot in Figure 7.24....Ch. 7 - Fill in the blank: If r = 0.900, then _____ % of...Ch. 7 - In Exercises 710, determine whether the given...Ch. 7 - Prob. 8CQCh. 7 - Prob. 9CQCh. 7 - Prob. 10CQ
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- If, based on a sample size of 900,a political candidate finds that 509people would vote for him in a two-person race, what is the 95%confidence interval for his expected proportion of the vote? Would he be confident of winning based on this poll? Question content area bottom Part 1 A 9595% confidence interval for his expected proportion of the vote is (Use ascending order. Round to four decimal places as needed.)arrow_forwardQuestions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.arrow_forwardA population that is uniformly distributed between a=0and b=10 is given in sample sizes 50( ), 100( ), 250( ), and 500( ). Find the sample mean and the sample standard deviations for the given data. Compare your results to the average of means for a sample of size 10, and use the empirical rules to analyze the sampling error. For each sample, also find the standard error of the mean using formula given below. Standard Error of the Mean =sigma/Root Complete the following table with the results from the sampling experiment. (Round to four decimal places as needed.) Sample Size Average of 8 Sample Means Standard Deviation of 8 Sample Means Standard Error 50 100 250 500arrow_forward
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- Questions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.arrow_forwardQuestions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.arrow_forwardFrom a sample of 26 graduate students, the mean number of months of work experience prior to entering an MBA program was 34.67. The national standard deviation is known to be18 months. What is a 90% confidence interval for the population mean? Question content area bottom Part 1 A 9090% confidence interval for the population mean is left bracket nothing comma nothing right bracketenter your response here,enter your response here. (Use ascending order. Round to two decimal places as needed.)arrow_forward
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