EBK BUSINESS STATISTICS
7th Edition
ISBN: 9780134462783
Author: STEPHAN
Publisher: PEARSON CUSTOM PUB.(CONSIGNMENT)
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A survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you
think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey,
228 of 400 executives answered Yes, while in a previous year survey, 176 of 400 executives had answered Yes. Provide a 95% confidence
interval estimate for the difference between the proportions at the two points in time. (Use current year previous year. Round your answer to
four decimal places.)
to
What is your interpretation of the interval estimate?
The 95% confidence interval ---Select---
✓zero. This suggests that the proportion of executives who are predicting an increase in full-
time jobs for the current year is ---Select--- ✓ than the proportion of executives who were predicting an increase in full-time jobs for the…
Is there a difference in the yields of different types of investments? The accompanying data provide yields for a one-year certificate of deposit (CD) and a five-year CD for 25 banks. Complete parts a through c below.
a. Construct a 90% confidence interval estimate for the mean yield of one-year CDs.
A survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-
time employees at your company over the next 12 months?" In the current survey, 232 of 400 executives answered Yes, while in a previous year survey, 184 of 400 executives had answered Yes.
Provide a 95% confidence interval estimate for the difference between the proportions at the two points in time. (Use current year previous year. Round your answer to four decimal places.)
to
What is your interpretation of the interval estimate?
The 95% confidence interval ---Select---
✓zero. This suggests that the proportion of executives who are predicting an increase in full-time jobs for the current year is ---Select---] than the
proportion of executives who were predicting an increase in full-time jobs for the previous year.
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- A survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 220 of 400 executives answered Yes, while in a previous year survey, 176 of 400 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at the two points in time. (Use current year − previous year. Round your answer to four decimal places.) toarrow_forwardA Businessweek/Harris poll asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 230 of 500 executives answered Yes, while in a previous year survey, 197 of 500 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at the two points in time (to 4 decimals). Do not round your intermediate calculations. to What is your interpretation of the interval estimate? Approximately 7% more executives are predicting an increase in full-time jobs. The confidence interval shows the difference may be from 0% to 13% Hide Feedback Partially Correctarrow_forwardA survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 224 of 400 executives answered Yes, while in a previous year survey, 172 of 400 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at the two points in time. (Use current year − previous year. Round your answer to four decimal places.) Incorrect: Your answer is incorrect. to What is your interpretation of the interval estimate? The 95% confidence interval is completely above Correct: Your answer is correct. zero. This suggests that the proportion of executives who are predicting an increase in full-time jobs for the current year is higher Correct: Your answer is correct. than the proportion of executives who were predicting an increase in full-time…arrow_forward
- A survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 232 of 400 executives answered Yes, while in a previous year survey, 168 of 400 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at the two points in time. (Use current year - previous year. Round your answer to four decimal places.) to What is your interpretation of the interval estimate? The 95% confidence interval ---Select--- v zero. This suggests that the proportion of executives who are predicting an increase in full-time jobs for the current year is --Select-- v than the proportion of executives who were predicting an increase in full-time jobs for the previous year. Need Help? Read It Watch Itarrow_forwardA Businessweek/Harris poll asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 230 of 500 executives answered Yes, while in a previous year survey, 196 of 500 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at the two points in time (to 4 decimals). Do not round your intermediate calculations. .0000 to .1366 What is your interpretation of the interval estimate? Approximately ( 14% more executives are predicting an increase + in full-time jobs. The confidence interval shows the difference may be from 14% to 0%arrow_forwardGive a real life example of how confidence intervals are used.arrow_forward
- According to Randall Financial, through April 25, 2018, 64% of companies reported profits had exceeded quarterly estimates. How large a sample is needed for a 95% confidence and a desired margin of error of .05 for those that exceed quarterly estimates?arrow_forwardA Businessweek/Harris survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 240 of 500 executives answered Yes, while in a previous year survey, 198 of 500 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at the two points in time (to 4 decimals). Use z-table. toarrow_forwardA Businessweek/Harris survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 220 of 400 executives answered Yes, while in a previous year survey, 192 of 400 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at the two points in time (to 4 decimals).arrow_forward
- Evaluate the source for reputability, transparency, andbeing evidential. Scenario: In a study conducted by the Pew Research Center, 681 university students were surveyed. Of those surveyed, 32% reported experiencing food insecurity - and going without food to pay for textbooks and housing instead. Short answer A. The exact question reads "Within the last 30 days, have you gone without food to pay for textbooks or housing instead?": describe the type of data collected by this question as precisely as possible. B.University administrators were expecting a proportion closer to 9%. Without resortingto any analysis methods, does it appear that the result has statistical significance?arrow_forwardSuppose NBC has asked the same question to a sample of 1296 adults nine months earlier, finding 47% with an optimistic outlook for the year ahead. Develop a 95% confidence interval for the percentage of American adults who had an optimistic outlook for the economy nine months earlier.arrow_forwardIf we calculate a 95% confidence interval (CI) instead of a 99% confidence interval, then: A. The midpoint and the width of the CI would increase. B. The midpoint of the CI would decrease, but the width would be unchanged. C. The midpoint and the width of the CI would decrease. D. The midpoint of the CI would be unchanged, but the width would decrease.arrow_forward
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