Bundle: Modern Business Statistics with Microsoft Office Excel, Loose-Leaf Version, 6th + MindTap Business Statistics, 2 terms (12 months) Printed Access Card

6th Edition

ISBN: 9781337589383

Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

Publisher: Cengage Learning

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Chapter 9, Problem 57SE

In Hamilton County, Ohio, the mean number of days needed to sell a house is 86 days (Cincinnati Multiple Listing Service, April 2012). Data for the sale of 40 houses in a nearby county showed a sample mean of 80 days with a sample standard deviation of 20 days. Conduct a hypothesis test to determine whether the mean number of days until a house is sold is different than the Hamilton County mean of 86 days in the nearby county. Use α = .05 for the level of significance, and state your conclusion.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 9, Problem 56SE

Chapter 9, Problem 58SE

Chapter 9 Solutions

Bundle: Modern Business Statistics with Microsoft Office Excel, Loose-Leaf Version, 6th + MindTap Business Statistics, 2 terms (12 months) Printed Access Card

Ch. 9.1 - 1. The manager of the Danvers-Hilton Resort Hotel...Ch. 9.1 - 2. The manager of an automobile dealership is...Ch. 9.1 - 3. A production line operation is designed to fill...Ch. 9.1 - 4. Because of high production-changeover time and...Ch. 9.2 - 5. Duke Energy reported that the cost of...Ch. 9.2 - Prob. 6E Ch. 9.2 - Carpet Salesperson Salaries. Carpetland...Ch. 9.2 - 8. Suppose a new production method will be...Ch. 9.3 - Consider the following hypothesis test: A sample...Ch. 9.3 - Prob. 10E

Ch. 9.3 - Consider the following hypothesis test: A sample...Ch. 9.3 - Prob. 12E Ch. 9.3 - Prob. 13E Ch. 9.3 - Prob. 14E Ch. 9.3 - Federal Tax Returns. According to the IRS,...Ch. 9.3 - In a study entitled How Undergraduate Students Use...Ch. 9.3 - The mean hourly wage for employees in...Ch. 9.3 - Young millennials, adults aged 18 to 34, are...Ch. 9.3 - The Internal Revenue Service (IRS) provides a...Ch. 9.3 - Prescription Drug Costs. Annual expenditure for...Ch. 9.3 - Cost of Telephone Surveys. Fowle Marketing...Ch. 9.3 - Time in Supermarket Checkout Lines. CCN and...Ch. 9.4 - Consider the following hypothesis test: A sample...Ch. 9.4 - Consider the following hypothesis test: A sample...Ch. 9.4 - Consider the following hypothesis test: A sample...Ch. 9.4 - Prob. 26E Ch. 9.4 - Which is cheaper: eating out or dining in? The...Ch. 9.4 - CEO Tenure. A shareholders’ group, in lodging a...Ch. 9.4 - The national mean annual salary for a school...Ch. 9.4 - Time in Child Care. The time married men with...Ch. 9.4 - Chocolate Consumption. The United States ranks...Ch. 9.4 - Used Car Prices. According to the National...Ch. 9.4 - Automobile Insurance Premiums. The Onsure.com...Ch. 9.4 - Prob. 34E Ch. 9.5 - Consider the following hypothesis test: A sample...Ch. 9.5 - Prob. 36E Ch. 9.5 - The U.S. Bureau of Labor Statistics reports that...Ch. 9.5 - Attitudes toward Supermarket Brands. A study by...Ch. 9.5 - Prob. 39E Ch. 9.5 - Prob. 40E Ch. 9.5 - Ten years ago 53% of American families owned...Ch. 9.5 - Returned Merchandise. According to the University...Ch. 9.5 - Prob. 43E Ch. 9.5 - Prob. 44E Ch. 9.5 - The American Association of Individual Investors...Ch. 9.6 - A large department of the Federal Government wants...Ch. 9.6 - CEOs who belong to a popular business-oriented...Ch. 9.6 - Prob. 48E Ch. 9.6 - Prob. 49E Ch. 9 - Production Line Fill Weights. A production line...Ch. 9 - Scholarship Examination Scores. At Western...Ch. 9 - Exposure to Background Television. CNN reports...Ch. 9 - The Wall Street Journal reported that bachelor’s...Ch. 9 - Data from the Office for National Statistics show...Ch. 9 - The mean time to earn a bachelor’s degree is 5.8...Ch. 9 - Prob. 56SE Ch. 9 - In Hamilton County, Ohio, the mean number of days...Ch. 9 - Fifty-two percent of Americans report that they...Ch. 9 - Prob. 59SE Ch. 9 - Prob. 60SE Ch. 9 - The unemployment rate for 18- to 34-year-olds was...Ch. 9 - Prob. 62SE Ch. 9 - In recent years more people have been working past...Ch. 9 - Case Problem 1 Quality Associates, Inc. Quality...Ch. 9 - Case problem 2 Ethical Behavior of Business...

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Solution Summary: The author concludes that there is no evidence that the mean number of days until a house is sold is different than County H’s mean of 86 days in the nearby county

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Chapter 9 Solutions