Basic Business Statistics, Student Value Edition (13th Edition)
13th Edition
ISBN: 9780321946393
Author: Mark L. Berenson, David M. Levine, Kathryn A. Szabat
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 8, Problem 57PS
a.
To determine
Calculate a
b.
To determine
Calculate a
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
During the Covid crisis, there were lockdowns and working-from-home, which made collecting data on unemployment more challenging. Researchers from Heriot Watt University conducted a survey of 400 individuals in the labour force to assess rise in unemployment in September 2020. The object was to find out whether the unemployment rate had risen above a benchmark proportion of 6 per cent of the labour force in Malaysia. Of the surveyed persons, 34 reported being unemployed in the week prior to the survey.
Conduct a two-tailed test of whether unemployment rate during this period was 6 per cent. Set out your null and alternative hypotheses, significance level, test statistic, assumptions and sampling distribution clearly. Conduct the test and comment on the economic significance of the findings
During the Covid crisis, there were lockdowns and working-from-home, whichmade collecting data on unemployment more challenging. Researchers fromHeriot Watt University conducted a survey of 1,000 individuals in the labour forceto assess rise in unemployment in September 2020. The object was to find outwhether the unemployment rate had risen above a benchmark proportion of 5per cent of the labour force in Scotland. Of the surveyed persons, 60 reportedbeing unemployed in the week prior to the survey.(i) Conduct a two-tailed test of whether unemployment rate during this periodwas 5 per cent. Set out your null and alternative hypotheses, significancelevel, test statistic, assumptions and sampling distribution clearly. Conductthe test and comment on the economic significance of the findings. (ii) Now conduct a one-tailed test of whether unemployment rate during thisperiod exceeded 5 per cent. Set out your null and alternative hypotheses,significance level, test statistic, assumptions and…
Suppose a study is conducted using only Boeing 737s traveling 800Kms on
comparable routes during the same season of the year. Can the number of
passengers predict the cost of flying such routes? It seems logical that more
passengers result in more weight and more baggage, which could, in turn, result in
increased fuel consumption and other costs. Suppose the data displayed in the
table below are the costs and associated number of passengers for twelve 800-kms
commercial airline flights using Boeing 737s during the same season of the year.
We will use these data to develop a regression model to predict cost by number of
passengers. A plot of the data collected is shown in Figure 3.
Cost
600
550
500
450
400
350
300
5
6
6
7
7
8
Number of Passengers
8
9
9
10
Figure 3: Scatter plot of number of passengers on the x-axis and
Cost on the y-axis.
a) Describe the relationship between number of passengers and Cost based on Figure
3.
Chapter 8 Solutions
Basic Business Statistics, Student Value Edition (13th Edition)
Ch. 8 - If X=85, =8,andn=64, construct a 95 confidence...Ch. 8 - If X=125,=24,andn=36, construct a 99 confidence...Ch. 8 - Why is it not possible in Example 8.1 on page 280...Ch. 8 - Is it true in Example 8.1 on page 277 that you do...Ch. 8 - A market researcher selects a simple random sample...Ch. 8 - Suppose that you are going to collect a set of...Ch. 8 - Consider the confidence interval estimate...Ch. 8 - You are working as an assistant to the dean of...Ch. 8 - A bottled water distributor wants to estimate the...Ch. 8 - The operations manager at a compact fluorescent...
Ch. 8 - If X=75,S=24,andn=36, and assuming that the...Ch. 8 - Determine the critical value of t in each of the...Ch. 8 - Assuming that the populations is normally...Ch. 8 - Assuming that the population is normally...Ch. 8 - A marketing researcher wants to estimate the mean...Ch. 8 - A survey of nonpro�t organizations showed that...Ch. 8 - The U.S. Department of Transportation requires...Ch. 8 - Prob. 18PSCh. 8 - The �le Sedans contains the overall miles per...Ch. 8 - The file SUV contains the overall MPG of 2013...Ch. 8 - Is there a difference in the yields of different...Ch. 8 - One of the major measures of the quality of...Ch. 8 - A manufacturing company produces electric...Ch. 8 - Prob. 24PSCh. 8 - One operation of a mill is cut pieces of steel...Ch. 8 - Ifn=200andX=50, Construct a 95 confidence interval...Ch. 8 - ifn=400andX=25, Construct a 99 confidence interval...Ch. 8 - A cellphone provider has the business objective of...Ch. 8 - In a survey of 3,773 travelers, 1,509 said that...Ch. 8 - Prob. 30PSCh. 8 - Prob. 31PSCh. 8 - Prob. 32PSCh. 8 - What are the factors that influence technology...Ch. 8 - If you want to be 95 confident of estimating the...Ch. 8 - If you want to be 99 confident of estimating of...Ch. 8 - If you want to be 99 confident of estimating the...Ch. 8 - If you want to be 95 confident of estimating the...Ch. 8 - A survey is planned to determine the mean annual...Ch. 8 - If the manager of a bottled water distributor...Ch. 8 - Prob. 40PSCh. 8 - If the inspection division of a county weights and...Ch. 8 - Prob. 42PSCh. 8 - Prob. 43PSCh. 8 - A growing niche in the restaurant business is...Ch. 8 - What advertising medium is most influential in...Ch. 8 - A survey of 300 U.S. online shoppers was...Ch. 8 - Prob. 47PSCh. 8 - According to a new study released by Infosys. a...Ch. 8 - Prob. 49PSCh. 8 - Why can you never really have 100 confidence of...Ch. 8 - When should you use the t distribution to develop...Ch. 8 - Why is it true that for a given sample size, n an...Ch. 8 - Why is the sample size needed to determine the...Ch. 8 - The Pew Internet Project survey of 2,253 American...Ch. 8 - Prob. 55PSCh. 8 - A market researcher for a consumer electronics...Ch. 8 - Prob. 57PSCh. 8 - Prob. 58PSCh. 8 - A national association devoted to human resource...Ch. 8 - The financial impact of IT system downtime is a...Ch. 8 - The branch manager of an outlet (Store 1) of a...Ch. 8 - Scarlett and Heather, the owners of an upscale...Ch. 8 - The manufacturer of Ice Melt claims that its...Ch. 8 - Claims fraud (illegitimate claims) and buildup...Ch. 8 - A quality characteristic of interest for a...Ch. 8 - Prob. 66PSCh. 8 - The manufacturer of Boston and Vermont asphalt...Ch. 8 - The manufacturer of Boston and Vermont asphalt...Ch. 8 - Referring to the results in Problem 8.66...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- A sociologist wants to investigate the question, "Is there a relationship between texting during class and grade-point-average (GPA) among high school seniors in a large district?" Which study design is most appropriate? Before the semester starts, randomly select 40 seniors from each high school who do not text during class. Assign 20 to the texting treatment group (text three or more times during every class meeting) and 20 to the control group (no texting during class). At the end of the semester, obtain each student’s GPA from the appropriate admissions and records office. Compare the GPA of students who routinely text during class to the GPA of students who do not text during class. Before the semester starts, randomly select 40 seniors from each high school who do not text during class. Assign 20 to the texting treatment group (text three or more times during every class meeting) and 20 to the control group (no texting during class). At the end of the semester,…arrow_forwardThe traffic pattern is being analyzed for traffic going into Myrtle Beach on 501. The intersection of US-501 and US-17 Bypass was designed such that 50% of the traffic would continue straight on 501, 30% would go north on 17 Bypass, and 20% would go south on 17 Bypass. Since then, there has been a significant amount of commercial growth around the intersection that may have impacted the traffic flow. A sample of 600 cars is to be reviewed to see if the traffic has significantly changed using the chi-square test. How many cars do you expect to go straight on US-501?arrow_forwardThe article “State and Federal Data on COVID-19 Testing Don’t Match Up” by Meyer and Madrigal in May 2020 stated that Florida had reported conducting 700,000 coronavirus tests, yet the Centers for Disease Control and Prevention reported Florida had conducted 919,000. The difference between these reports is 219,000 tests. What is the difference between the number of tests Florida reported administering and the number the CDC reported the state-administered as a percent of the number of tests reported by Florida? Round your answer to the nearest hundredth of a percent.arrow_forward
- A student researcher was surprised to learn that the 2017 NCAA Student-Athlete Substance Use Survey supported that college athletes make healthier decisions in many areas than their peers in the general student body. He collected data of his own, focusing exclusively on male student-athletes to see if such habits vary based on one’s sport. He asked 93 male student-athletes whether they had engaged in binge-drinking in the last month (> 5 drinks in a single sitting). A student researcher was surprised to learn that the 2017 NCAA Student-Athlete Substance Use Survey supported that college athletes make healthier decisions in many areas than their peers in the general student body. He collected data of his own, focusing exclusively on male student-athletes to see if such habits vary based on one’s sport. He asked 93 male student-athletes whether they had engaged in binge-drinking in the last month (> 5 drinks in a single sitting). Data are provided in the table below.…arrow_forwardA student researcher was surprised to learn that the 2017 NCAA Student-Athlete Substance Use Survey supported that college athletes make healthier decisions in many areas than their peers in the general student body. He collected data of his own, focusing exclusively on male student-athletes to see if such habits vary based on one’s sport. He asked 93 male student-athletes whether they had engaged in binge-drinking in the last month (> 5 drinks in a single sitting). Data are provided in the table below. Lacrosse Hockey Swimming Row Totals Yes – Binge 20 17 15 52 No – did not binge 16 15 10 41 Column totals 36 32 25 93 1. Calculate the effect size. Show the formula and your calculations in the space provided below: 2. Using the degrees of freedom provided by your SPSS output and an alpha value of .05, find the critical value in the appropriate table in the Appendix of your Jackson e-book. Do not round – present all…arrow_forwardSusie, a staff nurse, wants to conduct research about the difficulties faced by caregivers caring for persons with dementia. 1. Identify the research paradigm which stems from Susie's research 2. State the most appropriate research design Susie should use. 3. Suggest TWO (2) appropriate data collection methods which might suit Susie's research study. ,4. Suggest how Susie and her research team may minimize bias in their data analysis.arrow_forward
- Makers of generic drugs are required to show that their generic drugs do not differ significantly from the “reference” or brand name drugs that they imitate. One aspect in which the generic drugs might differ is their extent of absorption in the blood. Twelve subjects were available for the study. Six were randomly selected to receive the generic drug first and then, after a washout period, receive the “reference” drug. The remaining six received the “reference” drug first, followed by the generic drug after the washout period. Suppose the actual p-value for a two-sided test is 0.140. On the basis of this p-value, what should you conclude at α = 0.05? Group of answer choices The mean difference between the absorption rate of the reference drug and the absorption rate of the generic drug is equal to zero There is insufficient evidence to conclude that the mean difference between the absorption rate of the reference drug and the absorption rate of the generic drug is not equal to…arrow_forwardConsider the following statistics in the table below. Does this data support the catch-up hypothesis? Country Taiwan Panama Brazil Algeria Japan Venezuela Belgium United Kingdom New Zealand Real GDP per Capita in 1960 (2005 dollars) $1,861 2,120 2,483 4,105 5,586 7,015 10,132 11,204 14,263 Annual Growth in Real GDP per Capita, 1960-2010 5.86% 3.32 2.45 0.85 3.52 0.52 2.54 2.26 1.34 Larrow_forwardA Kaiser Family Foundation poll for US adults in 2019 found that 79% of Democrats, 55% of Independents, and 24% of Republicans supported a generic National Health Plan". There were 347 Democrats, 298 Republicans, and 617 Independents surveyed.a.) A political pundit on TV claims that a majority of Independents support a National Health Plan. Do these data provide strong evidence to support this type of statement? Use = 0.05.arrow_forward
- A study investigated the relationship between audit delay and variables that describe the client and the auditor. The file Audit contains data from a sample of 40 companies on the following set of variables: Delay: The length of time from a company's fiscal year-end to the date of the auditor's report. Industry: A dummy variable coded 1 if the firm was an industrial company or 0 if the firm was a bank, savings and loan, or insurance company. Public: A dummy variable coded 1 if the company was traded on an organized exchange or over the counter; otherwise coded 0. Quality: A measure of overall quality of internal controls, as judged by the auditor, on a five-point scale ranging from "virtually none" (1) to "excellent" (5). Finished: A measure ranging from 1 to 4, as judged by the auditor, where 1 indicates "all work performed subsequent to year-end" and indicates 4 "most work performed prior to year-end." Click on the datafile logo to reference the data. Consider a model in which…arrow_forwardA health psychologist investigated dietary differences between middle class Hispanic and Black women. One dietary practice examined was the consumption of mutagen-containing meats (defined as smoked, grilled, or fried meat). Based on the contingency table below, is there a reason to believe there a difference between women with respect to their consumption of mutagen-containing meat servings per day. What can be concluded with an a of 0.01? Ethnicity Мeat Hispanic Black 0-1 68 75 serving 2-3 45 19 serving 4+ 11 37 serving a) Select and compute the appropriate statistic. ---Select--- %3D b) Obtain/compute the appropriate values to make a decision about Ho. p-value ; Decision: ---Select--- c) Compute the corresponding effect size(s) and indicate magnitude(s). If not appropriate, input and/or select "na" below. Effect Size = ; Magnitude: ---Select-- d) Make an interpretation based on the results. O There is a significant negative relationship between middle class and food preference.…arrow_forwardair travelers now use e-tickets. Electronic ticketing allows passengers to not worry about a paper ticket, and it costs the airline companies less to handle than paper ticketing However, in recent times the airlines have received complaints from passengers regarding their e-tickets, particularty when connecting flights and a change of airlines were involved. To investigate the problem, an independent watchdog agency sample of 20 airports and collected information on the number of complaints the airport below.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Statistics 4.1 Point Estimators; Author: Dr. Jack L. Jackson II;https://www.youtube.com/watch?v=2MrI0J8XCEE;License: Standard YouTube License, CC-BY
Statistics 101: Point Estimators; Author: Brandon Foltz;https://www.youtube.com/watch?v=4v41z3HwLaM;License: Standard YouTube License, CC-BY
Central limit theorem; Author: 365 Data Science;https://www.youtube.com/watch?v=b5xQmk9veZ4;License: Standard YouTube License, CC-BY
Point Estimate Definition & Example; Author: Prof. Essa;https://www.youtube.com/watch?v=OTVwtvQmSn0;License: Standard Youtube License
Point Estimation; Author: Vamsidhar Ambatipudi;https://www.youtube.com/watch?v=flqhlM2bZWc;License: Standard Youtube License