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
Question
Chapter 8.4, Problem 8.50ACB
(a)
To determine
To find: The redemption rate for the sample of milkshake m-coupons.
(b)
To determine
To find: The redemption rate for the sample of donut m-coupons.
(c)
To determine
To find: The point estimate for the difference between the true redemption rates.
(d)
To determine
To construct and interpret: The 90% confidence interval for the difference between the true redemption rates.
(f)
To determine
To explain: The meaning of 90% confidence for part d.
(f)
To determine
To explain: Whether there is statistically significant difference between the redemption rates.
(g)
To determine
To explain: Based on the assumption is there a practically significant difference between the redemption rates.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
In 2014, the median salary nationwide for a high school teacher was $56,310 per year. The median annual wage for all workers was $35,540.SOURCE: United States. Department of Labor. "High School Teachers." Occupational Outlook Handbook. 17 Dec. 2015. Web. 7 March 2016.
Suppose a worker makes $29,000 in wages per year. Find the percent increase in salary the worker can expect if he/she trains to be a teacher and can expect to earn a salary of $40,000.
Enter your response to the nearest 0.1%
%
Help me fast
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.
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
- The selling prices of mutual funds change daily. In order to study these changes, a sample of mutual funds was examined and the daily changes in price are listed below. (Round answers to 3 decimal places) 0.32, -0.17, 0.26, -0.03, -0.01, 0.18, 0.33, 0.28, 0.02, -0.29, -0.08, 0.12, 0.07, 0.03, 0.28 a) Using a calculator find Q1, Q3, median and IQR b) Determine the lower and upper fences. (Show work) c) Identify the outliers (if any) in this setarrow_forwardIn the July 2005 issue of a particular magazine, a special advertising section focused on private jets. Included in the section was an article about "fractional" jet ownership, in which wealthy individuals and companies share ownership in private jets. The idea is that the expensive airplanes can be better utilized if more than one individual or company has an ownership stake. Data were collected which show the number of fractional ownerships since 1986. Using these data, develop a line chart that displays the trend in fractional ownership between 1986 and 2004. E Click the icon to view the data on fractional jet ownership. i Data Table Choose the correct graph below. O A. OB. В. Oc. OD. Year Number of Jet 3 7000- 2006T 7000- 1986 16 of 2006- 1987 17 1988 20 1989 26 1986- 1990 29 1986 2006 19864 7000 Frac. Ownership of Jets 1986 2006 7000 Frac. Ownership of Jets Year 1991 34 Year 1992 47 Discuss the relationship between the variables. Choose the correct answer below. 1993 106 1994 122…arrow_forwardOpinions are split about a coffee company's pumpkin-flavored coffee (PFC). Yet every year over the last five years the consumption of pumpkin-flavored goods has increased. If we look at the numbers, it also becomes clear why a leading coffee company keeps offering the PFC earlier and earlier every year. According to a magazine, the amount spent by PFC buyers at the coffee company is about 17% higher than non-PFC buyers. The accompanying table shows a random sample of eight consumers, the amount they spend per week, and the number of PFCs purchased per week. PFC Spending 2 13.88 7 39.11 4 19.79 1 9.84 3 15.43 1 21.52 5 37.39 3 13.85 Calculate the slope and y-intercept for the regression formula. The slope is b1=4.465 The y-intercept is b0=6.840 Provide an interpretation for the value of the slope. Because the slope is positive, it can be…arrow_forward
- Opinions are split about a coffee company's pumpkin-flavored coffee (PFC). Yet every year over the last five years the consumption of pumpkin-flavored goods has increased. If we look at the numbers, it also becomes clear why a leading coffee company keeps offering the PFC earlier and earlier every year. According to a magazine, the amount spent by PFC buyers at the coffee company is about 17% higher than non-PFC buyers. The accompanying table shows a random sample of eight consumers, the amount they spend per week, y, and the number of PFCs purchased, x, per week. PFC Spending 1 13.17 8 38.65 3 19.49 2 9.56 4 15.85 1 21.82 5 37.53 3 13.69 α=0.05 t= 3.07 p-value= 0.022 Construct a 95% confidence interval for the population slope. UCL = 6.69 LCL = 0.75 What conclusions about PFC purchases and spending can be drawn from these…arrow_forwardOpinions are split about a coffee company's pumpkin-flavored coffee (PFC). Yet every year over the last five years the consumption of pumpkin-flavored goods has increased. If we look at the numbers, it also becomes clear why a leading coffee company keeps offering the PFC earlier and earlier every year. According to a magazine, the amount spent by PFC buyers at the coffee company is about 17% higher than non-PFC buyers. The accompanying table shows a random sample of eight consumers, the amount they spend per week, y, and the number of PFCs purchased, x, per week. PFC Spending 1 13.17 8 38.65 3 19.49 2 9.56 4 15.85 1 21.82 5 37.53 3 13.69 α=0.05 t= 3.07 p-value= 0.22 Construct a 95% confidence interval for the population slope. UCL = LCL = (Round to two decimal places as needed.)arrow_forwardOpinions are split about a coffee company's pumpkin-flavored coffee (PFC). Yet every year over the last five years the consumption of pumpkin-flavored goods has increased. If we look at the numbers, it also becomes clear why a leading coffee company keeps offering the PFC earlier and earlier every year. According to a magazine, the amount spent by PFC buyers at the coffee company is about 17% higher than non-PFC buyers. The accompanying table shows a random sample of eight consumers, the amount they spend per week, and the number of PFCs purchased per week. PFC Spending 2 13.88 7 39.11 4 19.79 1 9.84 3 15.43 1 21.52 5 37.39 3 13.85 The slope is b1=4.465 The y-intercept is b0=6.840 Because the slope is positive, it can be concluded that one extra PFC purchase per week will increase the average amount of spending per week by 4.46 dollars. Predict…arrow_forward
- Health insurers are beginning to offer telemedicine services online that replace the common office visit. Kean healthcare provides a video service that allows subscribers to connect with a physician online and receive prescribed treatments. Kean healthcare claims that users of its LiveHealth Online service saved a significant amount of money on a typical visit. The data shown below ($), for a sample of 5 online doctor visits, are consistent with the savings per visit reported by Kean Healthcare. 92 105 56 76 96 Assuming the population is roughly symmetric construct a 90% confidence interval for the mean savings for a televisit to the doctor as opposed to an office visit.arrow_forwardShah Rukh Khan is studying companies going public for the first time. He is particularly interested in the relationship between the size of the offering and the price per share. A sample of 15 companies that recently went public revealed the following information. Company Size ($ millions), X Price per Share, Y 1 9.0 10.8 2 94.4 11.3 3 27.3 11.2 4 179.2 11.1 5 71.9 11.1 6 97.9 11.2 7 93.5 11.0 8 70.0 10.7 9 160.7 11.3 10 96.5 10.6 11 83.0 10.5 12 23.5 10.3 13 58.7 10.7 14 93.8 11.0 15 34.4 10.8 Is the relationship between the size of the offering and the price per share significant, if the level of significance is 2.5%? What is the coefficient of determination? The coefficient of determination is_________ ; The relationship between the size of the offering and the price per share is For coefficient of determination, leave your answer in 3 decimal…arrow_forwardA FiveThirtyEight.com article reports that “Horror movies get nowhere near as much draw at the box office as the big-time summer blockbusters or action/adventure movies ... but there’s a huge incentive for studios to continue pushing them out. The return-on-investment potential for horror movies is absurd.” To investigate how the return-on-investment compares between genres and how this relationship has changed over time, an introductory statistics student fit a model predicting the ratio of gross revenue of movies from genre and release year for 1,070 movies released between 2000 and 2018. Using the plots given below, determine if this regression model is appropriate for these dataarrow_forward
- Mr. William Profit is studying companies going public for the first time. He is particularly interested in the relationship between the size of the offering and the price per share. A sample of 15 companies that recently went public revealed the following information. Size Price Size Price ($ millions), per Share, ($ millions), per Share, Company x y Company x y 1 9.0 10.8 9 160.7 11.3 2 94.4 11.3 10 96.5 10.6 3 27.3 11.2 11 83.0 10.5 4 179.2 11.1 12 23.5 10.3 5 71.9 11.1 13 58.7 10.7 6 97.9 11.2 14 93.8 11.0 7 93.5 11.0 15 34.4 10.8 8 70.0 10.7 Click here for the Excel Data File a. Determine the regression equation. (Round your answers to 4 decimal places.) b-1. State the decision rule for 0.05 significance level: H0: β ≤ 0; H1: β > 0. (Round your answer to 3 decimal places.) b-2. Compute the value of the test statistic. (Round your…arrow_forwardOnline Tax Returns. According to the Internal Revenue Service, among people entitled to tax refunds, those who file online receive their refunds twice as fast as paper filers. A study conducted by International Communications Research (ICR) of Media, Pennsylvania, found that 57% of those polled said that they are not worried about the privacy of theirfinancial information when filing their tax returns online. The survey had a margin of error of plus or minus 3 percentage points (for a 0.95 confidence level). Use this information to determine a 95% confidence interval for the percentage of all people who are not worried about the privacy of their financial information when filing their tax returns online.arrow_forwardB and carrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Matrix Factorization - Numberphile; Author: Numberphile;https://www.youtube.com/watch?v=wTUSz-HSaBg;License: Standard YouTube License, CC-BY