Statistics for Business and Economics (13th Edition)
13th Edition
ISBN: 9780134506593
Author: James T. McClave, P. George Benson, Terry Sincich
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 8, Problem 8.96ACB
(a)
To determine
To find: The target parameter for the given situation.
(b)
To determine
To find: The target parameter for the given situation.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Review of performance appraisal, labour turnover
rates, planning of incentives, and training
programs and are examples of...
a. Statistics in Human Resource
Management
b. Statistics in Production
c. Statistics in Marketing
d. Statistics in Finance
According to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1056 in 2018. Consider the population of “last-minute” filers who mail their tax return during the last five days of the income tax period (typically April 10 to April 15).
A researcher suggests that a reason individuals wait until the last five days is that on average these individuals receive lower refunds than do early filers. For a sample of 400 individuals who filed a tax return between April 10 and 15, the sample mean refund was $910. Based on prior experience, a population standard deviation of σ = $1,600 may be assumed.
Test the researcher's assertion using the critical value approach. Use α = 0.05
(Please include all the 7 steps in hypothesis testing)
Steps in hypothesis testing
p-value Approach
Develop the null and alternative hypothesis
Specify the level of significance, α
Choose the test statistic (z or t)
Calculate the test statistic
Use the value of the…
Rocky Mountain National Park is a popular park for outdoor recreation activities in Colorado. According to U.S. National Park Service statistics, 46.7% of visitors to Rocky Mountain National Park in 2018 entered through the Beaver Meadows park entrance, 24.3% of visitors entered through the Fall River park entrance, 6.3% of visitors entered through the Grand Lake park entrance, and 22.7% of visitors had no recorded point of entry to the park (U.S. National Park Service website). Consider a random sample of 175 Rocky Mountain National Park visitors. Use the normal approximation of the binomial distribution to answer the following questions.
What is the probability that at least 75 visitors had a recorded entry through the Beaver Meadows park entrance?
What is the probability that at least 70 but less than 80 visitors had a recorded entry through the Beaver Meadows park entrance?
What is the probability that fewer than 10 visitors had a recorded entry through the Grand Lake park…
Chapter 8 Solutions
Statistics for Business and Economics (13th Edition)
Ch. 8.2 - The purpose of this exercise is to compare the...Ch. 8.2 - Prob. 8.2LMCh. 8.2 - In order to compare the means of two populations,...Ch. 8.2 - Prob. 8.4LMCh. 8.2 - Prob. 8.5LMCh. 8.2 - Prob. 8.6LMCh. 8.2 - Independent random samples from normal populations...Ch. 8.2 - Two independent random samples nave been...Ch. 8.2 - Independent random samples of n1 = 233 and n2 =...Ch. 8.2 - Independent random samples from approximately...
Ch. 8.2 - Independent random samples selected from two...Ch. 8.2 - Lobster trap placement. Refer to the Bulletin of...Ch. 8.2 - Last name and acquisition timing. The speed with...Ch. 8.2 - Shared leadership in airplane crews. Human Factors...Ch. 8.2 - Performance-based logistics. Refer to the Journal...Ch. 8.2 - Drug content assessment. Refer to Exercise 4.123...Ch. 8.2 - Buy-side vs. sell-side analysts earnings...Ch. 8.2 - Homework assistance for accounting students. How...Ch. 8.2 - Comparing taste-test rating protocols....Ch. 8.2 - Producer willingness to supply biomass. The...Ch. 8.2 - Does rudeness really matter in the workplace?...Ch. 8.2 - Prob. 8.22ACICh. 8.2 - Is honey a cough remedy? Refer to the Archives of...Ch. 8.2 - Gender diversity of board of directors. The gender...Ch. 8.2 - Prob. 8.25ACACh. 8.3 - A paired difference experiment produced the...Ch. 8.3 - A paired difference experiment yielded nd pairs of...Ch. 8.3 - The data for a random sample of six paired...Ch. 8.3 - The data for a random sample of 10 paired...Ch. 8.3 - A paired difference experiment yielded the...Ch. 8.3 - Summer weight-loss camp. Camp Jump Start is an...Ch. 8.3 - Performance ratings of government agencies. The...Ch. 8.3 - Twinned drill holes. A traditional method of...Ch. 8.3 - Prob. 8.34ACBCh. 8.3 - I am not selling anything surveys. To improve...Ch. 8.3 - Consumers attitudes toward advertising. The two...Ch. 8.3 - Taking power naps during work breaks. Lack of...Ch. 8.3 - Acidity of mouthwash. Acid has been found to be a...Ch. 8.3 - Solar energy generation along highways. The...Ch. 8.3 - Impact of red light cameras on car crashes. To...Ch. 8.3 - Prob. 8.41ACICh. 8.3 - Alcoholic fermentation in wines. Determining...Ch. 8.4 - Consider making an inference about p1 p2, where...Ch. 8.4 - For each of the following values of , find the...Ch. 8.4 - Prob. 8.45LMCh. 8.4 - Prob. 8.46LMCh. 8.4 - Prob. 8.47LMCh. 8.4 - Prob. 8.48LMCh. 8.4 - The winners curse in auction bidding. In auction...Ch. 8.4 - Prob. 8.50ACBCh. 8.4 - Prob. 8.51ACBCh. 8.4 - Web survey response rates. Response rates to Web...Ch. 8.4 - Hospital administration of malaria patients. One...Ch. 8.4 - Traffic sign maintenance. The Federal Highway...Ch. 8.4 - Salmonella in produce. Salmonella infection is the...Ch. 8.4 - Angioplastys benefits challenged. More than 1...Ch. 8.4 - Entrepreneurial careers of MBA alumni. Are African...Ch. 8.4 - Predicting software defects. Refer to the PROMISE...Ch. 8.4 - Prob. 8.59ACICh. 8.4 - Religious symbolism in TV commercials. Gonzaga...Ch. 8.5 - Assuming that n1 = n2, find the sample sizes...Ch. 8.5 - Find the appropriate values of n1 and n2 (assume...Ch. 8.5 - Suppose you want to estimate the difference...Ch. 8.5 - Enough money has been budgeted to collect...Ch. 8.5 - Last name and acquisition timing. Refer to the...Ch. 8.5 - Homework assistance for accounting students. Refer...Ch. 8.5 - Vulnerability of relying party Web sites. Refer to...Ch. 8.5 - Conducting a political poll. A pollster wants to...Ch. 8.5 - Shared leadership in airplane crews. Refer to the...Ch. 8.5 - Solar energy generation along highways. Refer to...Ch. 8.5 - Angioplastys benefits challenged. Refer to the...Ch. 8.5 - Traffic sign maintenance. Refer to the Journal of...Ch. 8.6 - Use Tables V, VI, VII, and VIII in Appendix D to...Ch. 8.6 - Given v1 and v2, find the following probabilities:...Ch. 8.6 - For each of the following cases, identify the...Ch. 8.6 - For each of the following cases, identify the...Ch. 8.6 - Specify the appropriate rejection region for...Ch. 8.6 - Independent random samples were selected from each...Ch. 8.6 - Independent random samples were selected from each...Ch. 8.6 - Lobster trap placement. Refer to the Bulletin of...Ch. 8.6 - Prob. 8.81ACBCh. 8.6 - Mental health of workers and the unemployed. A...Ch. 8.6 - Drug content assessment Refer to Exercise 8.16 (p....Ch. 8.6 - Last name and acquisition timing. Refer to the...Ch. 8.6 - Prob. 8.85ACICh. 8.6 - Oil content of fried sweet potato chips. Refer to...Ch. 8.6 - Shopping vehicle and judgment. Refer to the...Ch. 8.6 - Is honey a cough remedy? Refer to the Archives of...Ch. 8 - List the assumptions necessary for each of the...Ch. 8 - Two independent random samples were selected from...Ch. 8 - Independent random samples were selected from two...Ch. 8 - Independent random samples were selected from two...Ch. 8 - Two independent random samples are taken from two...Ch. 8 - A random sample of five pairs of observations were...Ch. 8 - Prob. 8.95ACBCh. 8 - Prob. 8.96ACBCh. 8 - Prob. 8.97ACBCh. 8 - Hull failures of oil tankers. Refer to the Marine...Ch. 8 - Effectiveness of teaching software. The U.S....Ch. 8 - Durability of shock absorbers. A manufacturer of...Ch. 8 - NHTSA new car crash tests. Refer to the National...Ch. 8 - Diamonds sold at retail. Refer to the data for 308...Ch. 8 - Childrens recall of TV ads. A study examined...Ch. 8 - Is steak your favorite barbeque food? July is...Ch. 8 - Planning habits survey. American Demographics...Ch. 8 - Turnover rates in the United States and Japan....Ch. 8 - Smartphone usage differs by gender. The role of...Ch. 8 - Life expectancies of working women and housewives....Ch. 8 - Comparing purchasers and nonpurchasers of...Ch. 8 - Prob. 8.110ACICh. 8 - Racial profiling by the LAPD. Racial profiling is...Ch. 8 - State SAT scores. Refer to Exercise 2.27 (p. 60)...Ch. 8 - Rat damage to sugarcane fields. Poisons are used...Ch. 8 - Environmental impact study. Some power plants are...Ch. 8 - Instrument precision. When new instruments are...Ch. 8 - Cooling method for gas turbines. Refer to the...Ch. 8 - Average housing space per person. Even though...Ch. 8 - Positive spillover effects from self-managed work...Ch. 8 - Impact of gender on advertising. How does gender...Ch. 8 - Salaries of postgraduates. Refer to the Economics...Ch. 8 - Gambling in public high schools. With the rapid...Ch. 8 - CareerBank.com annual salary survey....Ch. 8 - Facility layout study. Facility layout and...
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
- Classify each scenario as a cross-sectional study or a longitudinal study. Make sure your answers are legible and spelled correctly. a. A group of kidney transplant recipients is followed for 10 years to determine the effectiveness of their transplant. b. While driving around town one day, a driver searches to find the gas station with the lowest price for regular unleaded gasoline in her neighborhood. c. A labor union conducts a study to determine if pay raises for its members have kept up with the rate of inflation over the last 5 years. d. An economist conducts a study to determine if prolonged periods of low interest rates have an influence on income disparities over time. e. A budget-conscious shopper tries to find the most inexpensive brand of mayonnaise during a trip to the supermarket one evening.arrow_forwardA company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 10% of the employees suffered lost-time accidents last year. Management believes that a special safety program will reduce such accidents to 7% during the current year. In addition, it estimates that 15% of employees who had lost-time accidents last year will experience a lost-time accident during the current year. a. What percentage of the employees will experience lost-time accidents in both years (to 2 decimals)? % b. What percentage of the employees will suffer at least one lost-time accident over the two-year period (to 2 decimals)? Check My Work (2 remaining) %arrow_forwardThe National Center for Health Statistics, housed within the U.S. Centers for Disease Control and Prevention (CDC), tracks the number of adults in the United States who have health insurance. According to this agency, the uninsured rates for Americans in 2018 are as follows: 5.1% of those under the age of 18, 12.4% of those ages 18-64, and 1.1% of those 65and older do not have health insurance (CDC website). Approximately 22.8% of Americans are under age 18, and 61.4% of Americans are aged 18-64. Given that the person is an uninsured American, what is the probability that the person is 65 or older (to 3 decimals)?arrow_forward
- Part 2: Does educational attainment impact employment status? Below is a table from the US Bureau of Labor Statistics' Current Population Survey Employment Status Men, 25+, Employed Men, 25+, Unemployed Less than a high school diploma 5,565 302 Educational attainment as of 2022 Some college or associate degree 17,722 556 16,801 564 2,934 188 High school graduates, no college (¹) 20,655 808 Bachelor's degree and higher Women, 25+, Employed 13,842 Women, 25+, Unemployed 614 (1) Includes persons with a high school diploma or equivalent. (2) Includes persons with bachelor's, master's, professional, and doctoral degrees. All numbers are in thousands - Source: https://www.bls.gov/cps/cpsaat07.htm 30,434 609 2. What is the test statistic? What is the p-value? 30,960 641 You will need to conduct a hypothesis test to determine if educational attainment and employment status are independent. 1. Write out the null and alternative hypothesis. Use correct notation. Clearly label the claim. 3. Write…arrow_forwardAt a single high-end restaurant in England over a 3-week period, there were 141 tables of diners. During the first week, current pop music was played. During the second week, classical music was played. During the third week, no music was played. The results of spending patterns were as follows: Music Mean bill n Classical 24.130 44 2.243 Pop 21.912 49 2.627 None 21.697 48 3.332 Total 22.531 141 2.969 a) By considering the standard deviations, explain why it is appropriate to perform a one-way ANOVA test on this data. b) State the null and alternate hypothesis. c) Perform a one-way ANOVA test by hand. d) Perform a TK Multiple Comparisons Test to determine which means are different with 95% confidence and report your result.arrow_forwardA company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 9% of the employees suffered lost-time accidents last year. Management believes that a special safety program will reduce such accidents to 8% during the current year. In addition, it estimates that 15% of employees who had lost-time accidents last year will experience a lost-time accident during the current year. a. What percentage of the employees will experience lost-time accident in both years (to 1 decimal)? b. What percentage of the employees will suffer at least one lost-time accident over the two-year period (to 1 decimal)? %arrow_forward
- The Majoring in Money study by Sallie Mae from December 2015 showed that most college students manage their credit cards in a reasonable way. It showed that almost two-thirds of students pay their credit card balance in full every month and 25% of students who own credit cards make partial payments that exceed the minimum amount due. You are curious to find out if credit card payment behavior of students has changed since 2015 and collect data from a random sample of 370 students. You find that 71 students are making partial payments on their credit cards that exceed the minimum amount due. Using α=0.01, complete parts a and b below.arrow_forwardJane White has recorded the following sales figures for last year for herbusiness: January, $35,645; February, $35,456; March, $31,270; April,$32,129; May, $34,456; June, $35,256; July, $36,218; August, $35,456;September, $34,250; October, $32,156; November, $30,125; December,$32,275. She wants to select from one of three models: a 3-month movingaverage, a weighted moving average (she believes that the weightsshould be 0.2, 0.3, and 0.5), and an exponential smoothing average inwhich she uses an α of 0.2 and an assumed forecast for January of Year 1of $35,000.a. Construct a table that shows each of these forecasts for the current year andprovide the forecast for January of Year 2.b. Using the available data and your forecasts, which model do you suggest thatJane use for her business?arrow_forwardThe price per share of stock for a sample of 25 companies was recorded at the beginning of the first financial quarter and then again at the end of the first financial quarter. How stocks perform during the first financial quarter is an indicator of what is ahead for the stock market and the economy. Company End of 1st quarter Beginning of 1st quarter Bank of New York Mellon 54.19 53.82 Kraft Foods 55.70 77.02 E.I. du Pont de Nemours and Company 102.57 109.00 Consolidated Edison 79.95 83.58 Johnson & Johnson 126.01 139.23 Union Pacific 132.73 135.78 Comcast 32.06 41.07 Applied Materials 50.91 53.04 Pfizer 35.40 36.44 General Electric 14.05 17.98 AT&T 32.54 38.54 Cisco Systems 44.83 38.86 Home Depot 184.63 188.03 JP Morgan Chase 108.78 107.95 Procter & Gamble 71.96 90.65 Verizon 48.82 53.53 Devon Energy 36.20 42.23 Lilly 79.07 84.68 Microsoft 95.00 85.95 Coca Cola 42.59 45.59 Qualcomm 50.82 65.20 Exxon Mobil Corporation 76.95…arrow_forward
- AutoWrecks, Inc. sells auto insurance. AutoWrecks keeps close tabs on its customers' driving records, updating its rates according to the trends indicated by these records. AutoWrecks' records indicate that, ina "typical" year, roughly 70% of the company's customers do not commit a moving violation, 10% commit exactly one moving violation, 15% commit exactly two moving violations, and 5% commit three or moremoving violations.This past year's driving records for a random sample of 100 AutoWrecks customers are summarized by the first row of numbers in the table below. That row gives this year's observed frequency for each moving violation category for the sample of 100 AutoWrecks customers. The second row of numbers gives thefrequencies expected for a sample of 100 AutoWrecks customers if the moving violations distribution for this year is the same as the distribution for a "typical" year. The bottom row of numbers contains thefollowing value for each of the moving violation categories.…arrow_forwardAccording to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1079 in 2018. Consider the population of "last-minute" filers who mail their tax return during the last five days of the income tax period (typically April 10 to April 15). a. A researcher suggests that a reason individuals wait until the last five days is that on average these individuals receive lower refunds than do early filers. Develop appropriate hypotheses such that rejection of H0 will support the researcher's contention. : is greater than or equal to 1,079 : is less than 1,079 b. For a sample of 400 individuals who filed a tax return between April 10 and 15, the sample mean refund was $920. Based on prior experience a population standard deviation of =1600 may be assumed. What is the -value (to 4 decimals)?arrow_forwardPurchasing magazine reported the results of a survey in which buyers were asked a series of questions with regard to internet usage. One question asked was how they would use the internet if security and other issues could be resolved. Seventy-eight percent said they would use it for pricing information, 75% said they would use it to send purchase orders, and 70% said they would use it for purchase order acknowledgments. Assume that these percentages hold true for all buyers. A researcher randomly samples 20 buyers and asked them how they would use the internet if security and other issues could be resolved. What is the probability that all of the buyers would use the internet to send purchase orders?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSON
The Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. Freeman
Introduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman
Mod-01 Lec-01 Discrete probability distributions (Part 1); Author: nptelhrd;https://www.youtube.com/watch?v=6x1pL9Yov1k;License: Standard YouTube License, CC-BY
Discrete Probability Distributions; Author: Learn Something;https://www.youtube.com/watch?v=m9U4UelWLFs;License: Standard YouTube License, CC-BY
Probability Distribution Functions (PMF, PDF, CDF); Author: zedstatistics;https://www.youtube.com/watch?v=YXLVjCKVP7U;License: Standard YouTube License, CC-BY
Discrete Distributions: Binomial, Poisson and Hypergeometric | Statistics for Data Science; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=lHhyy4JMigg;License: Standard Youtube License