Bundle: Essentials of Statistics for Business and Economics, Loose-leaf Version, 8th + MindTap Business Statistics, 1 term (6 months) Printed Access Card
8th Edition
ISBN: 9781337589147
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 9.3, Problem 20E
Prescription Drug Costs. Annual expenditure for prescription drugs was $838 per person in the Northeast of the country. A sample of 60 individuals in the Midwest showed a per person annual expenditure for prescription drugs of $745. Use a population standard deviation of $300 to answer the following questions.
- a. Formulate hypotheses for a test to determine whether the sample data support the conclusion that the population annual expenditure for prescription drugs per person is lower in the Midwest than in the Northeast.
- b. What is the value of the test statistic?
- c. What is the p-value?
- d. At α = .01, what is your conclusion?
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
65% of all violent felons in the prison system are repeat offenders. If 43 violent felons are randomly selected, find the probability that
a. Exactly 28 of them are repeat offenders.
b. At most 28 of them are repeat offenders. c. At least 28 of them are repeat offenders. d. Between 22 and 26 (including 22 and 26) of them are repeat offenders.
08:34
◄ Classroom
07:59
Probs. 5-32/33
D
ا.
89
5-34. Determine the horizontal and vertical components
of reaction at the pin A and the normal force at the smooth
peg B on the member.
A
0,4 m
0.4 m
Prob. 5-34
F=600 N
fr
th
ar
0.
163586
5-37. The wooden plank resting between the buildings
deflects slightly when it supports the 50-kg boy. This
deflection causes a triangular distribution of load at its ends.
having maximum intensities of w, and wg. Determine w
and wg. each measured in N/m. when the boy is standing
3 m from one end as shown. Neglect the mass of the plank.
0.45 m
3 m
Examine the Variables: Carefully review and note the names of all variables in the dataset. Examples of these variables include:
Mileage (mpg)
Number of Cylinders (cyl)
Displacement (disp)
Horsepower (hp)
Research: Google to understand these variables.
Statistical Analysis: Select mpg variable, and perform the following statistical tests. Once you are done with these tests using mpg variable, repeat the same with hp
Mean
Median
First Quartile (Q1)
Second Quartile (Q2)
Third Quartile (Q3)
Fourth Quartile (Q4)
10th Percentile
70th Percentile
Skewness
Kurtosis
Document Your Results:
In RStudio: Before running each statistical test, provide a heading in the format shown at the bottom. “# Mean of mileage – Your name’s command”
In Microsoft Word: Once you've completed all tests, take a screenshot of your results in RStudio and paste it into a Microsoft Word document. Make sure that snapshots are very clear. You will need multiple snapshots. Also transfer these results to the…
Chapter 9 Solutions
Bundle: Essentials of Statistics for Business and Economics, Loose-leaf Version, 8th + MindTap Business Statistics, 1 term (6 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 - A production line operation is designed to fill...Ch. 9.1 - Because of high production-changeover time and...Ch. 9.2 - Prob. 5ECh. 9.2 - 6. The label on a 3-quart container of orange...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: H0:20Ha:20...Ch. 9.3 - Consider the following hypothesis test:
A sample...
Ch. 9.3 - Consider the following hypothesis test:
A sample...Ch. 9.3 - Consider the following hypothesis test:
A sample...Ch. 9.3 - Consider the following hypothesis test: H0:50Ha:50...Ch. 9.3 - Prob. 14ECh. 9.3 - Prob. 15ECh. 9.3 - Credit Card Use by Undergraduates. In a study...Ch. 9.3 - 17. The mean hourly wage for employees in...Ch. 9.3 - Prob. 18ECh. 9.3 - Prob. 19ECh. 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: H0:12Ha:12...Ch. 9.4 - Consider the following hypothesis test:
A sample...Ch. 9.4 - Consider the following hypothesis test: H0:45Ha:45...Ch. 9.4 - Consider the following hypothesis test:
A sample...Ch. 9.4 - Prob. 27ECh. 9.4 - CEO Tenure. A shareholders’ group, in lodging a...Ch. 9.4 - Prob. 29ECh. 9.4 - Prob. 30ECh. 9.4 - Prob. 31ECh. 9.4 - Prob. 32ECh. 9.4 - 33. The mean annual premium for automobile...Ch. 9.4 - Prob. 34ECh. 9.5 - Consider the following hypothesis test:...Ch. 9.5 - Consider the following hypothesis test:
A sample...Ch. 9.5 - Prob. 37ECh. 9.5 - Attitudes toward Supermarket Brands. A study by...Ch. 9.5 - Prob. 39ECh. 9.5 - Holiday Gifts from Employers. Last year, 46% of...Ch. 9.5 - 41. Ten years ago 53% of American families owned...Ch. 9.5 - Returned Merchandise. According to the University...Ch. 9.5 - Coupon Usage. Eagle Outfitters is a chain of...Ch. 9.5 - Malpractice Suits. One of the reasons health care...Ch. 9.5 - Prob. 45ECh. 9.7 - Consider the following hypothesis test. H0:10Ha:10...Ch. 9.7 - Consider the following hypothesis test.
A sample...Ch. 9.7 - Prob. 48ECh. 9.7 - Miles per Gallon. A consumer research group is...Ch. 9.7 - Age of Magazine Subscribers. Young Adult magazine...Ch. 9.7 - Length of Telephone Surveys. Refer to exercise 48....Ch. 9.7 - Employee Participation in Investment Plans. Sparr...Ch. 9.8 - Consider the following hypothesis test. H0:10Ha:10...Ch. 9.8 - Consider the following hypothesis test....Ch. 9.8 - Underfilling Packages of Coffee. Suppose the...Ch. 9.8 - Battery Life. A special industrial battery must...Ch. 9.8 - Mean Age of Magazine Subscribers. Young Adult...Ch. 9.8 - Automobile Mileage. An automobile mileage study...Ch. 9 - Production Line Fill Weights. A production line...Ch. 9 - Scholarship Examination Scores. At Western...Ch. 9 - Prob. 62SECh. 9 - Prob. 63SECh. 9 - Prob. 64SECh. 9 - Prob. 65SECh. 9 - Residential Property Values. The chamber of...Ch. 9 - Prob. 67SECh. 9 - Prob. 68SECh. 9 - Using Laptops on Flights. An airline promotion to...Ch. 9 - Millennial Dependency on Parents. Members of the...Ch. 9 - Prob. 71SECh. 9 - Hotel Availability Over Holiday Weekend. A radio...Ch. 9 - Prob. 73SECh. 9 - Construction Worker Idle Time. Shorney...Ch. 9 - Federal Funding for Neighborhood Projects. A...Ch. 9 - Soap Production Process. H0: m = 120 and Ha: μ ≠...Ch. 9 - Quality Associates, Inc. Quality Associates, Inc.,...Ch. 9 - Case problem 2 Ethical Behavior of Business...
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
- Examine the Variables: Carefully review and note the names of all variables in the dataset. Examples of these variables include: Mileage (mpg) Number of Cylinders (cyl) Displacement (disp) Horsepower (hp) Research: Google to understand these variables. Statistical Analysis: Select mpg variable, and perform the following statistical tests. Once you are done with these tests using mpg variable, repeat the same with hp Mean Median First Quartile (Q1) Second Quartile (Q2) Third Quartile (Q3) Fourth Quartile (Q4) 10th Percentile 70th Percentile Skewness Kurtosis Document Your Results: In RStudio: Before running each statistical test, provide a heading in the format shown at the bottom. “# Mean of mileage – Your name’s command” In Microsoft Word: Once you've completed all tests, take a screenshot of your results in RStudio and paste it into a Microsoft Word document. Make sure that snapshots are very clear. You will need multiple snapshots. Also transfer these results to the…arrow_forwardExamine the Variables: Carefully review and note the names of all variables in the dataset. Examples of these variables include: Mileage (mpg) Number of Cylinders (cyl) Displacement (disp) Horsepower (hp) Research: Google to understand these variables. Statistical Analysis: Select mpg variable, and perform the following statistical tests. Once you are done with these tests using mpg variable, repeat the same with hp Mean Median First Quartile (Q1) Second Quartile (Q2) Third Quartile (Q3) Fourth Quartile (Q4) 10th Percentile 70th Percentile Skewness Kurtosis Document Your Results: In RStudio: Before running each statistical test, provide a heading in the format shown at the bottom. “# Mean of mileage – Your name’s command” In Microsoft Word: Once you've completed all tests, take a screenshot of your results in RStudio and paste it into a Microsoft Word document. Make sure that snapshots are very clear. You will need multiple snapshots. Also transfer these results to the…arrow_forward2 (VaR and ES) Suppose X1 are independent. Prove that ~ Unif[-0.5, 0.5] and X2 VaRa (X1X2) < VaRa(X1) + VaRa (X2). ~ Unif[-0.5, 0.5]arrow_forward
- 8 (Correlation and Diversification) Assume we have two stocks, A and B, show that a particular combination of the two stocks produce a risk-free portfolio when the correlation between the return of A and B is -1.arrow_forward9 (Portfolio allocation) Suppose R₁ and R2 are returns of 2 assets and with expected return and variance respectively r₁ and 72 and variance-covariance σ2, 0%½ and σ12. Find −∞ ≤ w ≤ ∞ such that the portfolio wR₁ + (1 - w) R₂ has the smallest risk.arrow_forward7 (Multivariate random variable) Suppose X, €1, €2, €3 are IID N(0, 1) and Y2 Y₁ = 0.2 0.8X + €1, Y₂ = 0.3 +0.7X+ €2, Y3 = 0.2 + 0.9X + €3. = (In models like this, X is called the common factors of Y₁, Y₂, Y3.) Y = (Y1, Y2, Y3). (a) Find E(Y) and cov(Y). (b) What can you observe from cov(Y). Writearrow_forward
- 1 (VaR and ES) Suppose X ~ f(x) with 1+x, if 0> x > −1 f(x) = 1−x if 1 x > 0 Find VaRo.05 (X) and ES0.05 (X).arrow_forwardJoy is making Christmas gifts. She has 6 1/12 feet of yarn and will need 4 1/4 to complete our project. How much yarn will she have left over compute this solution in two different ways arrow_forwardSolve for X. Explain each step. 2^2x • 2^-4=8arrow_forward
- One hundred people were surveyed, and one question pertained to their educational background. The results of this question and their genders are given in the following table. Female (F) Male (F′) Total College degree (D) 30 20 50 No college degree (D′) 30 20 50 Total 60 40 100 If a person is selected at random from those surveyed, find the probability of each of the following events.1. The person is female or has a college degree. Answer: equation editor Equation Editor 2. The person is male or does not have a college degree. Answer: equation editor Equation Editor 3. The person is female or does not have a college degree.arrow_forwardneed help with part barrow_forwardSuppose you know that Bob's test score is above the mean, but he doesn't remember by how much. At least how many students must score lower than Bob?arrow_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
The Shape of Data: Distributions: Crash Course Statistics #7; Author: CrashCourse;https://www.youtube.com/watch?v=bPFNxD3Yg6U;License: Standard YouTube License, CC-BY
Shape, Center, and Spread - Module 20.2 (Part 1); Author: Mrmathblog;https://www.youtube.com/watch?v=COaid7O_Gag;License: Standard YouTube License, CC-BY
Shape, Center and Spread; Author: Emily Murdock;https://www.youtube.com/watch?v=_YyW0DSCzpM;License: Standard Youtube License