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
Videos
Textbook Question
Chapter 9, Problem 16PS
A bottled water distributor wants to determine whether the
a. Is there evidence that the mean amount is different from 1.0 gallon? (Use α = 0.01.)
b. Compute the p-value and interpret its meaning.
c. Construct a
99% confidence
d. Compare the results of (a) and (c). What conclusions do you reach?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Microsoft Excel snapshot for random sampling: Also note the formula used for the last
column
02
x✓ fx =INDEX(5852:58551, RANK(C2, $C$2:$C$51))
A
B
1
No.
States
2
1
ALABAMA
Rand No.
0.925957526
3
2
ALASKA
0.372999976
4
3
ARIZONA
0.941323044
5
4 ARKANSAS
0.071266381
Random Sample
CALIFORNIA
NORTH CAROLINA
ARKANSAS
WASHINGTON
G7
Microsoft Excel snapshot for systematic sampling:
xfx INDEX(SD52:50551, F7)
A
B
E
F
G
1
No.
States
Rand No. Random Sample
population
50
2
1 ALABAMA
0.5296685 NEW HAMPSHIRE
sample
10
3
2 ALASKA
0.4493186 OKLAHOMA
k
5
4
3 ARIZONA
0.707914 KANSAS
5
4 ARKANSAS 0.4831379 NORTH DAKOTA
6
5 CALIFORNIA 0.7277162 INDIANA
Random Sample
Sample Name
7
6 COLORADO 0.5865002 MISSISSIPPI
8
7:ONNECTICU 0.7640596 ILLINOIS
9
8 DELAWARE 0.5783029 MISSOURI
525
10
15
INDIANA
MARYLAND
COLORADO
Suppose the Internal Revenue Service reported that the mean tax refund for the year 2022 was $3401. Assume the standard deviation is $82.5 and that the amounts refunded follow a normal probability distribution. Solve the following three parts? (For the answer to question 14, 15, and 16, start with making a bell curve. Identify on the bell curve where is mean, X, and area(s) to be determined.
1.What percent of the refunds are more than $3,500?
2. What percent of the refunds are more than $3500 but less than $3579?
3. What percent of the refunds are more than $3325 but less than $3579?
A normal distribution has a mean of 50 and a standard deviation of 4. Solve the following three parts?
1. Compute the probability of a value between 44.0 and 55.0.
(The question requires finding probability value between 44 and 55. Solve it in 3 steps.
In the first step, use the above formula and x = 44, calculate probability value.
In the second step repeat the first step with the only difference that x=55.
In the third step, subtract the answer of the first part from the answer of the second part.)
2. Compute the probability of a value greater than 55.0.
Use the same formula, x=55 and subtract the answer from 1.
3. Compute the probability of a value between 52.0 and 55.0.
(The question requires finding probability value between 52 and 55. Solve it in 3 steps.
In the first step, use the above formula and x = 52, calculate probability value.
In the second step repeat the first step with the only difference that x=55.
In the third step, subtract the answer of the first part from the…
Chapter 9 Solutions
Basic Business Statistics, Student Value Edition (13th Edition)
Ch. 9 - If you use a 0.005 level of significance in a...Ch. 9 - If you use a 0.05 level of significance in a...Ch. 9 - If you use a 0.10 level of significance in a...Ch. 9 - If you use a 0.01 level of significance in a...Ch. 9 - What is your decision in problem 9.4 if...Ch. 9 - What is the p -value if, in a two-tail hypothesis...Ch. 9 - In problem 9.6, what is your statistical decision...Ch. 9 - What is the p-value if, in a two -tail hypothesis...Ch. 9 - In the U.S. legal system, a defendant is presumed...Ch. 9 - Suppose the defendant in Problem 9.9 is presumed...
Ch. 9 - Many consumer groups feel that U.S. Food and Drug...Ch. 9 - As a result of complaints from both students and...Ch. 9 - Prob. 13PSCh. 9 - The quality-control manager at a compact...Ch. 9 - Suppose that in Problem 9.14, the standard...Ch. 9 - A bottled water distributor wants to determine...Ch. 9 - Suppose that in Problem 9.16, the standard...Ch. 9 - If, In a sample of n=16 selected from a normal...Ch. 9 - In Problem 9.18, how many degrees of freedom does...Ch. 9 - In Problem 9.18, 9.19, what are the Critical...Ch. 9 - In, Problem 9.18, 9.19, and 9.20, what is your...Ch. 9 - If, in a sample of n=16 selected from a...Ch. 9 - If, in a sample of n=160 selected from a...Ch. 9 - You are the manager of a restaurant for a...Ch. 9 - A manufacturer of chocolate candies uses machines...Ch. 9 - Prob. 26PSCh. 9 - The U.S. Department of Transportation requires...Ch. 9 - The file FastFood contains the amount that a...Ch. 9 - An insurance company has the business objective of...Ch. 9 - The following data (in Drink) represent the amount...Ch. 9 - One of the major measures of the quality of...Ch. 9 - A manufacturing company produces steel housings...Ch. 9 - One operation of a steel mill is to cut pieces of...Ch. 9 - In Problem 3.69 on page 156, you were introduced...Ch. 9 - Prob. 35PSCh. 9 - In a one-tail hypothesis test where you reject H0...Ch. 9 - In Problem 9.36, what is your statistical decision...Ch. 9 - In a one-tail hypothesis test where you reject H0...Ch. 9 - In Problem 9.38, what is your statistical decision...Ch. 9 - In a one-tail hypothesis test where you reject H0...Ch. 9 - In Problem 9.40, what is your statistical decision...Ch. 9 - In a one-tail hypothesis test where you reject H0...Ch. 9 - In Problem 9.42, what is your statistical decision...Ch. 9 - In a one-tail hypothesis test where you reject H0...Ch. 9 - In Problem 9.44, what is your statistical decision...Ch. 9 - Prob. 46PSCh. 9 - Prob. 47PSCh. 9 - Prob. 48PSCh. 9 - You are the manager of a restaurant that delivers...Ch. 9 - A survey of nonprofit organizations showed that...Ch. 9 - Prob. 51PSCh. 9 - If, a random sample of 400 items, 88 are...Ch. 9 - In Problem 9.52, if the null hypothesis is that 20...Ch. 9 - In Problem 9.52 and 9.53, suppose you are testing...Ch. 9 - Prob. 55PSCh. 9 - The worldwide market share for the Mozilla Firefox...Ch. 9 - One of the issues facing organizations Is...Ch. 9 - Prob. 58PSCh. 9 - A cellphone provider has the business objective of...Ch. 9 - Prob. 60PSCh. 9 - What is the difference between a null hypothesis,...Ch. 9 - What is the difference between a Type I error and...Ch. 9 - What is meant by the power of a test?Ch. 9 - What is the difference between a one -tail test...Ch. 9 - What is meant by a p-value?Ch. 9 - How can a confidence interval estimate for the...Ch. 9 - What is the six-step critical value approach to...Ch. 9 - What is the five-step p-value approach to...Ch. 9 - In hypothesis testing, the common level of...Ch. 9 - Financial institutions utilize prediction models...Ch. 9 - Prob. 71PSCh. 9 - The owner of a speciality coffee shop wants to...Ch. 9 - An auditor for a government agency was assigned...Ch. 9 - A bank branch located in a commercial district of...Ch. 9 - Call centers today play an important role in...Ch. 9 - An important quality characteristic used by the...Ch. 9 - Studies conducted by the manufacturer of Boston...Ch. 9 - The manufacturer of Boston and Vermont asphalt...Ch. 9 - Referring to the results of problems 9.76 through...
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
- If a uniform distribution is defined over the interval from 6 to 10, then answer the followings: What is the mean of this uniform distribution? Show that the probability of any value between 6 and 10 is equal to 1.0 Find the probability of a value more than 7. Find the probability of a value between 7 and 9. The closing price of Schnur Sporting Goods Inc. common stock is uniformly distributed between $20 and $30 per share. What is the probability that the stock price will be: More than $27? Less than or equal to $24? The April rainfall in Flagstaff, Arizona, follows a uniform distribution between 0.5 and 3.00 inches. What is the mean amount of rainfall for the month? What is the probability of less than an inch of rain for the month? What is the probability of exactly 1.00 inch of rain? What is the probability of more than 1.50 inches of rain for the month? The best way to solve this problem is begin by a step by step creating a chart. Clearly mark the range, identifying the…arrow_forwardClient 1 Weight before diet (pounds) Weight after diet (pounds) 128 120 2 131 123 3 140 141 4 178 170 5 121 118 6 136 136 7 118 121 8 136 127arrow_forwardClient 1 Weight before diet (pounds) Weight after diet (pounds) 128 120 2 131 123 3 140 141 4 178 170 5 121 118 6 136 136 7 118 121 8 136 127 a) Determine the mean change in patient weight from before to after the diet (after – before). What is the 95% confidence interval of this mean difference?arrow_forward
- In order to find probability, you can use this formula in Microsoft Excel: The best way to understand and solve these problems is by first drawing a bell curve and marking key points such as x, the mean, and the areas of interest. Once marked on the bell curve, figure out what calculations are needed to find the area of interest. =NORM.DIST(x, Mean, Standard Dev., TRUE). When the question mentions “greater than” you may have to subtract your answer from 1. When the question mentions “between (two values)”, you need to do separate calculation for both values and then subtract their results to get the answer. 1. Compute the probability of a value between 44.0 and 55.0. (The question requires finding probability value between 44 and 55. Solve it in 3 steps. In the first step, use the above formula and x = 44, calculate probability value. In the second step repeat the first step with the only difference that x=55. In the third step, subtract the answer of the first part from the…arrow_forwardIf a uniform distribution is defined over the interval from 6 to 10, then answer the followings: What is the mean of this uniform distribution? Show that the probability of any value between 6 and 10 is equal to 1.0 Find the probability of a value more than 7. Find the probability of a value between 7 and 9. The closing price of Schnur Sporting Goods Inc. common stock is uniformly distributed between $20 and $30 per share. What is the probability that the stock price will be: More than $27? Less than or equal to $24? The April rainfall in Flagstaff, Arizona, follows a uniform distribution between 0.5 and 3.00 inches. What is the mean amount of rainfall for the month? What is the probability of less than an inch of rain for the month? What is the probability of exactly 1.00 inch of rain? What is the probability of more than 1.50 inches of rain for the month? The best way to solve this problem is begin by creating a chart. Clearly mark the range, identifying the lower and upper…arrow_forwardProblem 1: The mean hourly pay of an American Airlines flight attendant is normally distributed with a mean of 40 per hour and a standard deviation of 3.00 per hour. What is the probability that the hourly pay of a randomly selected flight attendant is: Between the mean and $45 per hour? More than $45 per hour? Less than $32 per hour? Problem 2: The mean of a normal probability distribution is 400 pounds. The standard deviation is 10 pounds. What is the area between 415 pounds and the mean of 400 pounds? What is the area between the mean and 395 pounds? What is the probability of randomly selecting a value less than 395 pounds? Problem 3: In New York State, the mean salary for high school teachers in 2022 was 81,410 with a standard deviation of 9,500. Only Alaska’s mean salary was higher. Assume New York’s state salaries follow a normal distribution. What percent of New York State high school teachers earn between 70,000 and 75,000? What percent of New York State high school…arrow_forward
- Pls help asaparrow_forwardSolve the following LP problem using the Extreme Point Theorem: Subject to: Maximize Z-6+4y 2+y≤8 2x + y ≤10 2,y20 Solve it using the graphical method. Guidelines for preparation for the teacher's questions: Understand the basics of Linear Programming (LP) 1. Know how to formulate an LP model. 2. Be able to identify decision variables, objective functions, and constraints. Be comfortable with graphical solutions 3. Know how to plot feasible regions and find extreme points. 4. Understand how constraints affect the solution space. Understand the Extreme Point Theorem 5. Know why solutions always occur at extreme points. 6. Be able to explain how optimization changes with different constraints. Think about real-world implications 7. Consider how removing or modifying constraints affects the solution. 8. Be prepared to explain why LP problems are used in business, economics, and operations research.arrow_forwardged the variance for group 1) Different groups of male stalk-eyed flies were raised on different diets: a high nutrient corn diet vs. a low nutrient cotton wool diet. Investigators wanted to see if diet quality influenced eye-stalk length. They obtained the following data: d Diet Sample Mean Eye-stalk Length Variance in Eye-stalk d size, n (mm) Length (mm²) Corn (group 1) 21 2.05 0.0558 Cotton (group 2) 24 1.54 0.0812 =205-1.54-05T a) Construct a 95% confidence interval for the difference in mean eye-stalk length between the two diets (e.g., use group 1 - group 2).arrow_forward
- An article in Business Week discussed the large spread between the federal funds rate and the average credit card rate. The table below is a frequency distribution of the credit card rate charged by the top 100 issuers. Credit Card Rates Credit Card Rate Frequency 18% -23% 19 17% -17.9% 16 16% -16.9% 31 15% -15.9% 26 14% -14.9% Copy Data 8 Step 1 of 2: Calculate the average credit card rate charged by the top 100 issuers based on the frequency distribution. Round your answer to two decimal places.arrow_forwardPlease could you check my answersarrow_forwardLet Y₁, Y2,, Yy be random variables from an Exponential distribution with unknown mean 0. Let Ô be the maximum likelihood estimates for 0. The probability density function of y; is given by P(Yi; 0) = 0, yi≥ 0. The maximum likelihood estimate is given as follows: Select one: = n Σ19 1 Σ19 n-1 Σ19: n² Σ1arrow_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
Big 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
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Hypothesis Testing using Confidence Interval Approach; Author: BUM2413 Applied Statistics UMP;https://www.youtube.com/watch?v=Hq1l3e9pLyY;License: Standard YouTube License, CC-BY
Hypothesis Testing - Difference of Two Means - Student's -Distribution & Normal Distribution; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=UcZwyzwWU7o;License: Standard Youtube License