Statistics for Business and Economics (13th Edition)

13th Edition

ISBN: 9780134506593

Author: James T. McClave, P. George Benson, Terry Sincich

Publisher: PEARSON

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Textbook Question

Chapter 7.5, Problem 7.58ACI

Shopping vehicle and judgment. Refer to the Journal of Marketing Research (December 2011) study of grocery store shoppers’ judgments, Exercise 2.85 (p. 88). For one part of the study, 11 consumers were told to put their arm in a flex position (similar to carrying a shopping basket) and then each consumer was offered several choices between a vice product and a virtue product (e.g., a movie ticket vs. a shopping coupon, pay later with a larger amount vs. pay now).

Based on these choices, a vice choice score was determined on a scale of 0 to 100 (where higher scores indicate a greater preference for vice options). The data in the next table are (simulated) choice scores for the 11 consumers.

Suppose that the average choice score for consumers with an extended arm position (similar to pushing a shopping cart) is known to be μ. = 50.. The researchers theorize that the mean choice score for consumers shopping with a flexed arm will be higher than 43 (reflecting their higher propensity to select a vice product) Test the theory at α = .05.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 7.5, Problem 7.57ACI

Chapter 7.5, Problem 7.59ACI

Chapter 7 Solutions

Statistics for Business and Economics (13th Edition)

Ch. 7.2 - Which hypothesis, the null or the alternative, is...Ch. 7.2 - Which element of a test of hypothesis is used to...Ch. 7.2 - What is the level of significance of a test of...Ch. 7.2 - What is the difference between Type I and Type II...Ch. 7.2 - List the four possible results of the combinations...Ch. 7.2 - We reject the null hypothesis when the test...Ch. 7.2 - If you test a hypothesis and reject the null...Ch. 7.2 - For each of the following rejection regions,...Ch. 7.2 - Use the applet Hypothesis Test for a Mean to...Ch. 7.2 - Americans favorite sport. The Harris Poll...

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Solution Summary: The author concludes that there is sufficient evidence to infer that the mean choice score for the consumers shopping is greater than 43.

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