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 8.6, Problem 8.80ACB
Lobster trap placement. Refer to the Bulletin of Marine Science (April 2010) study of lobster trap placement, Exercise 8.12 (p. 442). The data are repeated here. You used the small-sample t-statistic to form a confidence interval for the difference between the mean trap-spacing measurements of the two fishing cooperatives. This method requires the variance of the population of trap spacings for the BT cooperative. (σBT)2, to be the same as the population variance for the PA cooperative, (σPA)2.
- a. Set up the null and alternative hypotheses for testing the equality of variances.
- b. Find the sample variances for the two cooperatives.
- c. Compute the test statistic.
- d. Find the approximate p-value of the test.
- e. Make the appropriate conclusion using α = .01.
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The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of sixteen Cadets, each bought "new" two years ago and each sold "used" within the past month. For each Cadet in the sample, we have listed both the mileage, x (in thousands), that the Cadet had on its odometer at the time it was sold used, and the price, y (in thousands of dollars), at which the Cadet was sold used. These data are shown graphically in the scatter plot in Figure 1. Also given is the product of the mileage and the used selling price for each of the sixteen Cadets. (These products, written in the column labelled "xy", may aid in calculations.)
The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of
sixteen Cadets, each bought "new" two years ago and each sold "used" within the past month. For each Cadet in the sample, we have listed both the mileage, x
(in thousands), that the Cadet had on its odometer at the time it was sold used, and the price, y (in thousands of dollars), at which the Cadet was sold used.
These data are shown graphically in the scatter plot in Figure 1. Also given is the product of the mileage and the used selling price for each of the sixteen
Cadets. (These products, written in the column labelled "xy", may aid in calculations.)
Mileage, x
(in thousands)
20.8
23.3
29.6
38.8
34.4
24.0
23.7
26.0
28.0
15.2
26.7
22.8
21.0
27.9
37.8
24.4
Used selling
price, y
(in thousands
of dollars)
31.8
33.1
28.3
21.3
26.0
27.8
27.2
27.9
29.9
33.6
31.6
31.9
31.2
25.9
23.7
30.1
Send data to calculator
xy
661.44
771.23…
The cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of sixteen cadets, each bought new two years ago, and each sold used within the past month . For each cadet in the sample, we have listed both the mileage x (in thousands of miles) that the cadet had on its odometer at the time it was sold used and the price y (in thousand dollars) at which the cadet was sold used. The least-squares regression line for these data has equation of y=41.79-0.50x. This line is shown in the scatter plot below.
A) for these data, used selling prices that are greater than the mean of the used selling prices tend fo be paired with mileages that are ___ the mean of the mileages ?
B) according to the regression equation, for an increase of one thousand miles in cadet mileage, there is a corresponding decrease of how many thousand dollars in the used selling price?
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. 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- The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of fifteen Cadets, each bought "new" two years ago and each sold "used" within the past month. For each Cadet in the sample, we have listed both the mileage, x (in thousands), that the Cadet had on its odometer at the time it was sold used, and the price, y (in thousands of dollars), at which the Cadet was sold used. These data are shown graphically in the scatter plot in Figure 1. Mileage, x(in thousands) Used selling price, y(in thousands of dollars) 21.1 31.2 34.2 25.8 23.3 34.1 37.5 22.8 29.1 27.1 24.2 29.7 23.7 28.0 27.7 25.1 24.1 27.6 23.2 30.9 26.7 31.7 28.1 30.0 20.9 31.6 15.2 34.6 25.7 26.6 The least-squares regression line for these data has a slope of approximately −0.5. Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as…arrow_forwardThe Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of Cadets, each bought new two years ago, and each sold used within the past month. For each Cadet in the sample, we have listed both the mileage x (in thousands of miles) that the Cadet had on its odometer at the time it was sold used and the price y (in thousands of dollars) at which the Cadet was sold used. With the aim of predicting the used selling price from the number of miles driven, we might examine the least-squares regression line, =y−41.990.51x . This line is shown in the scatter plot below. Based on the sample data and the regression line, complete the following. (a)For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that are ▼(Choose one) the mean of the used selling prices. (b)According to the regression equation, for an increase of…arrow_forwardMEANS OF TWO SAMPLES (VARIANCES UNKNOWN) AND OBSERVED OBSERVATIONS Give the complete Test of Hypothesisarrow_forward
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