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QNT 561 Week 4 Weekly Learning Assessments

QNT 561 Week 4 Weekly Learning Assessments

2016-04-02 00:37:16



 

Chapter 10 Exercise 2

[The following information applies to the questions displayed below.]

A sample of 36 observations is selected from a normal population. The sample mean is 12, and the population standard deviation is 3. Conduct the following test of hypothesis using the 0.01 significance level

H0: μ ≤ 10

H1: μ > 10

1. Award: 10 out of 10.00 points

a. Is this a one- or two-tailed test?

b. What is the decision rule?

c. What is the value of the test statistic?

d. What is your decision regarding H0?

e. What is the p-value?

Chapter 10 Exercise 10

Given the following hypotheses:

 H0 : μ = 400

H1 : μ ≠ 400

 A random sample of 12 observations is selected from a normal population. The sample mean was 407 and the sample standard deviation 6. Using the .01 significance level:

 a. State the decision rule. (Negative amount should be indicated by a minus sign. Round your answers to 3 decimal places.)

b. Compute the value of the test statistic. (Round your answer to 3 decimal places.)

c. What is your decision regarding the null hypothesis?

 

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Chapter 10 Exercise 12

The management of White Industries is considering a new method of assembling its golf cart. The present method requires 42.3 minutes, on the average, to assemble a cart. The mean assembly time for a random sample of 24 carts, using the new method, was 40.6 minutes, and the standard deviation of the sample was 2.7 minutes. Using the .10 level of significance, can we conclude that the assembly time using the new method is faster?

a. What is the decision rule? (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.)

b. Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.)

c. What is your decision regarding H0?

Chapter 10 Exercise 16

Given the following hypotheses:

H0 : μ = 100

H1 : μ ≠ 100

A random sample of six resulted in the following values: 118, 105, 112, 119, 105, and 111. Assume a normal population.

 a. Using the .05 significance level, determine the decision rule? (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)

b. Compute the value of the test statistic. (Round your answer to 2 decimal places.)

c-1. What is your decision regarding the H0?

c-2. Can we conclude the mean is different from 100?

d. Estimate the p-value.

 

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Chapter 11 Exercise 2

A sample of 65 observations is selected from one population with a population standard deviation of 0.75. The sample mean is 2.67. A sample of 50 observations is selected from a second population with a population standard deviation of 0.66. The sample mean is 2.59. Conduct the following test of hypothesis using the .08 significance level.

H0 : μ1 ≤ μ2

H1 : μ1 > μ2

a. This a -tailed test.

b. State the decision rule. (Negative values should be indicated by a minus sign. Round your answer to 2 decimal places.)

c. Compute the value of the test statistic. (Round your answer to 2 decimal places.)

d. What is your decision regarding H0?

e. What is the p-value? (Round your answer to 4 decimal places.)

Chapter 11 Exercise 8

The null and alternate hypotheses are:

 A random sample of 15 observations from the first population revealed a sample mean of 350 and a sample standard deviation of 12. A random sample of 17 observations from the second population revealed a sample mean of 342 and a sample standard deviation of 15.

At the .10 significance level, is there a difference in the population means?

a. This is a -tailed test.   

b. The decision rule is to reject if   (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)               

c. The test statistic is (Round your answer to 3 decimal places.)

d. What is your decision regarding?

e. The p-value is between and.

 

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Chapter 11 Exercise 14

The null and alternate hypotheses are:

 H0: μ1 ≤ μ2

H1: μ1 > μ2

A random sample of 20 items from the first population showed a mean of 100 and a standard deviation of 15. A sample of 16 items for the second population showed a mean of 94 and a standard deviation of 8. Use the .05 significant level.

a. Find the degrees of freedom for unequal variance test. (Round down your answer to the nearest whole number.)

b. State the decision rule for .05 significance level. (Round your answer to 3 decimal places.)

c. Compute the value of the test statistic. (Round your answer to 3 decimal places.)

d. What is your decision regarding the null hypothesis? Use the .05 significance level.
Chapter 12 Exercise 8

The following are six observations collected from treatment 1, four observations collected from treatment 2, and five observations collected from treatment 3. Test the hypothesis at the 0.05 significance level that the treatment means are equal.

Treatment1        Treatment 2       Treatment 3

9                              13                           10

7                              20                           9

11                           14                           15

9                              13                           14

12                                                           15

10                                                          

a. State the null and the alternate hypothesis.

Ho :

H1 :  Treatment means are all the same.

b. What is the decision rule? (Round your answer to 2 decimal places.)

c. Compute SST, SSE, and SS total. (Round your answers to 2 decimal places.)

d. Complete the ANOVA table. (Round SS, MS and F values to 2 decimal places.) 

e. State your decision regarding the null hypothesis.

 

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Chapter 12 Exercise 14

A stock analyst wants to determine whether there is a difference in the mean rate of return for three types of stock: utility, retail, and banking stocks. The following output is obtained:

a. Using the .05 level of significance, is there a difference in the mean rate of return among the three types of stock?

b. Can the analyst conclude there is a difference between the mean rates of return for utility and retail stocks? For utility and banking stocks? For banking and retail stocks? Explain.

Chapter 12 Exercise 18

 

There are three hospitals in the Tulsa, Oklahoma, area. The following data show the number of outpatient surgeries performed on Monday, Tuesday, Wednesday, Thursday, and Friday at each hospital last week. At the 0.05 significance level, can we conclude there is a difference in the mean number of surgeries performed by hospital or by day of the week?

 

Number of Surgeries Performed

 

  Day

St. Luke's

St. Vincent

Mercy

 

Monday

14

18

24

 

Tuesday

20

24

14

 

Wednesday

16

22

14

 

Thursday

18

20

22

 

Friday

20

28

24

 

 

 

 

             

1.Set up the null hypothesis and the alternative hypothesis.

For Treatment:

Null hypothesis

H0: µSt. Luke's = µSt. Vincent =

2. Alternative hypothesis

H1: Not all means are

3. For blocks:

Null hypothesis

H0: µMon = µTue = µWed = µThu =

4. Alternative hypothesis

H1: Not all means are

5. State the decision rule for .05 significance level. (Round your answers to 2 decimal places.)

For Treatment:

Reject H0 if F>

For blocks:

Reject H0 if F>

6. Complete the ANOVA table. (Round SS, MS and F to 2 decimal places.)

7.What is your decision regarding the null hypothesis?

The decision for the F value (Treatment) at 0.05 significance is:

Do not Reject

8. The decision for the F value (Block) at 0.05 significance is:

Do not Reject

9. Can we conclude there is a difference in the mean number of surgeries performed by hospital or by day of the week?

There is no in the mean number of surgeries performed by hospital or by day of the week.

 

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Chapter 13 Exercise 16

Mr. James Mc Whinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales. To document this assertion, Mr. Mc Whinney gathered the following sample information. The X column indicates the number of client contacts last month, and the Y column shows the value of sales ($ thousands) last month for each client sampled.

 

Number of                          Sales                                      Number of                          Sales

Contacts,                             ($ thousands),                   Contacts,                             ($ thousands),

X                                             Y                                              X                                             Y

                14                                           24                                           23                                           30 

                12                                           14                                           48                                           90 

                20                                           28                                           50                                           85 

                16                                           30                                           55                                           120 

                46                                           80                                           50                                           110 

a. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round final answers to 2 decimal places.)

b. Determine the estimated sales if 40 contacts are made.(Do not round intermediate calculations. Round final answers to 2 decimal places.)

Chapter 13 Exercise 18

We are studying mutual bond funds for the purpose of investing in several funds. For this particular study, we want to focus on the assets of a fund and its five-year performance. The question is: Can the five-year rate of return be estimated based on the assets of the fund? Nine mutual funds were selected at random, and their assets and rates of return are shown below.

                                                           

                                                Assets              Return                                     Assets              Return

Fund                                        ($ millions)      (%)        Fund                          ($ millions)      (%)

AARP High Quality Bond     $622.20           10.8      MFS Bond A             $494.50           11.6

Babson Bond L                       160.4               11.3     Nichols Income           158.3               9.5

Compass Capital

Fixed Income                          275.7               11.4      T. Rowe Price

                                                                                    Short-term                     681                8.2

Galaxy Bond Retail                433.2               9.1       Thompson Income B     241.3             6.8

Keystone Custodian B-1        437.9               9.2                              
 

b-1. Compute the coefficient of correlation. (Round your answer to 3 decimal places. Negative amount should be indicated by a minus sign.)

b-2. Compute the coefficient of determination. (Round your answer to 3 decimal places.)

c. Give a description of the degree of association between the variables.

d. Determine the regression equation. Use assets as the independent variable. (Round your answers to 4 decimal places. Negative amounts should be indicated by a minus sign.)

e. For a fund with $400.0 million in sales, determine the five-year rate of return (in percent). (Round your answer to 4 decimal places.)

 

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Chapter 13 Exercise 30

On the first statistics exam, the coefficient of determination between the hours studied and the grade earned was 80%. The standard error of estimate was 10. There were 20 students in the class. Develop an ANOVA table for the regression analysis of hours studied as a predictor of the grade earned on the first statistics exam.

Source                  DF           SS           MS

Regression         

Error                     

Total                                     

 

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QNT 561 Final Exam Latest Assignments

QNT 561 Final Exam Latest Assignments

2015-12-17 03:21:03



 

1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?

  1. To the left of -1.645 or to the right of 1.645
  2. To the left of -1.345 or to the right of 1.345
  3. Between -1.761 and 1.761
  4. To the left of -1.282 or to the right of 1.282

2. Which of the following is a characteristic of the F distribution?

  1. Normally distributed
  2. Negatively skewed
  3. Equal to the t-distribution
  4. Positively skewed

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3. For a chi-square test involving a contingency table, suppose the null hypothesis is rejected. We conclude that the two variables are __________.

  1. related
  2. curvilinear
  3. linear
  4. not related

4. A sales manager for an advertising agency believes that there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. What is the dependent variable?

  1. sales managers
  2. amount of sales dollars
  3. salesperson
  4. number of contacts

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5. Which of the following is most appropriately displayed with a frequency table?

  1. What percentage of people prefer Hunt's brand ketchup
  2. The home location of the most valuable customers
  3. How much explanatory value comes from the study's variables
  4. The relationship between gender and job performance

6. The manager of Paul's fruit and vegetable store is considering the purchase of a new seedless watermelon from a wholesale distributor. Since this seedless watermelon costs $4, will sell for $7, and is highly perishable, he only expects to sell between six and nine of them. What is the opportunity loss for purchasing nine watermelons when the demand is for seven watermelons?

  1. 8
  2. 4
  3. 12
  4. 0

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7. A firm offers routine physical examinations as part of a health service program for its employees. The exams showed that 8% of the employees needed corrective shoes, 15% needed major dental work, and 3% needed both corrective shoes and major dental work. What is the probability that an employee selected at random will need either corrective shoes or major dental work?

  1. .25
  2. 1.00
  3. .50
  4. .20

8. When data is collected using a qualitative, nominal variable, what is true about a frequency distribution that summarizes the data?

  1. The upper and lower class limits must be calculated.
  2. The number of classes is equal to the number of variables plus 2.
  3. The “5 to the k rule” can be applied.
  4. A pie chart can be used to summarize the data.

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9. If an ANOVA test is conducted and the null hypothesis is rejected, what does this indicate?

  1. The p-value is less than a.
  2. All population means are different.
  3. At least one pair of population means is different.
  4. The population means are equal.

10. A random sample of 20 items is selected from a population. When computing a confidence interval for the population mean, what number of degrees of freedom should be used to determine the appropriate t-value?

  1. 25
  2. 21
  3. 19
  4. 20

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11. The question, "Should products be withdrawn if even one death is associated with its prescribed use, even if no fault for the tampered product accrues to the manufacturer?" is an example of a (n) _____.

  1. strip data mining issue
  2. unresearchable question
  3. ill-defined problem
  4. favored-technique problem

12. A large department store examined a sample of the 18 credit card sales and recorded the amounts charged for each of three types of credit cards: MasterCard, Visa, and Discover. Six MasterCard sales, seven Visa, and five Discover sales were recorded. The store used an ANOVA to test if the mean sales for each credit card were equal. What are the degrees of freedom for the F statistic?

  1. 2 in the numerator, 15 in the denominator
  2. 6 in the numerator, 15 in the denominator
  3. 18 in the numerator, 3 in the denominator
  4. 3 in the numerator, 18 in the denominator

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13. A linear trend equation is used to represent time series values when the data are changing by equal what?

  1. amounts
  2. percents and proportions
  3. proportions
  4. percents

14. Which of the following goals should a good survey instrument accomplish?

  1. Encourage each participant to provide accurate responses
  2. Encourage participants to be succinct in their responses
  3. Encourage participants to answer only those questions they are comfortable answering
  4. Encourage participants to end the survey when they feel they have contributed enough information

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15. Kroger, a grocery store chain, wants to identify the ideal store layout for increasing store sales. Because it primarily uses two store designs, one a grid layout with vertical aisles divided by a center aisle and another using a traditional straight-aisle pattern, Kroger will match pairs of stores that have different designs but similar shopper demographics and location. Sales from each pair will then be compared to determine if store design is related to sales. Which type of study is this an example of?

  1. Exploratory study
  2. Case study
  3. Ex post facto study
  4. Longitudinal study

16. Bones Brothers & Associates prepare individual tax returns. Over prior years, Bones Brothers has maintained careful records regarding the time to prepare a return. The mean time to prepare a return is 90 minutes and the standard deviation of this distribution is 14 minutes. Suppose 100 returns from this year are selected and analyzed regarding the preparation time. What assumption do you need to make about the shape of the population distribution of all possible tax preparation times to make inferences about the mean time to complete a tax form?

  1. The population distribution is skewed to the left.
  2. The population distribution is skewed to the right.
  3. The shape of the population distribution does not matter.
  4. The population distribution is normal.

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17. Checklists with several items to be considered by respondents may be subject to _____.

  1. recency effects
  2. leniency effects
  3. halo effects
  4. primacy effects

18. In a multiple rating list scale, ____.

  1. participants rate multiple items on a 3-point scale
  2. the participant is restricted to circling their rating
  3. it is possible to visualize the results better than with other numerical scales
  4. the data generated are always ordinal

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19. As the size of the sample increases, what happens to the shape of the distribution of sample means?

  1. It cannot be predicted in advance
  2. It is positively skewed
  3. It is negatively skewed
  4. It approaches a normal distribution

20. For any chi-square goodness-of-fit test, the number of degrees of freedom is found by ______.

  1. n + k
  2. k -1
  3. n – k - 1
  4. n + 1

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21. Bank Choice is concerned about stagnating profits and asks, "How can profitability be improved?" This is an example of a (n) _____.

  1. research question
  2. measurement question
  3. management question
  4. investigative question

22. A machine is set to fill the small-size packages of M&M candies with 56 candies per bag. A sample revealed three bags of 56, two bags of 57, one bag of 55, and two bags of 58. To test the hypothesis that the mean candies per bag is 56, how many degrees of freedom are there?

  1. 1
  2. 7
  3. 9
  4. 8

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23. An experimental study is one that _____.

  1. attempts to reveal why or how one variable produces changes in another
  2. involves manipulation of one or more variables to determine the effect on another variable
  3. attempts to capture a population's characteristics by making inferences from a sample's characteristics and testing resulting hypotheses
  4. discovers answers to the questions who, what, when, where, or how much

24. The monthly salaries of a sample of 100 employees were rounded to the nearest $10. They ranged from a low of $1,040 to a high of $1,720. If we want to condense the data into seven classes, what is the most convenient class interval?

  1. $200
  2. $50
  3. $150
  4. $100

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25. Consider a regression analysis, where the correlation coefficient is 0.18. Then, the coefficient of determination is _______.

  1. .0324
  2. .36
  3. 1.16
  4. .424

26. In multiple regression analysis, when the independent variables are highly correlated, this situation is called __________________.

  1. homoscedasticity
  2. curvilinearity
  3. multicollinearity
  4. autocorrelation

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27. Sam's Club installed self-checkout stations that can track not only member's purchases but also packaging problems, as the system uses universal product codes to match the item the shopper has in their cart with its price and inventory level in the store, generating a spreadsheet style report for the researcher. If you consider the scanner as the tool for collecting data for Sam's researchers, they are doing data entry by ____.

  1. spreadsheet
  2. Optical Character Recognition
  3. Field editing
  4. Voice recognition

28. The weekly incomes of a large group of executives are normally distributed with a mean of $2,000 and a standard deviation of $100. What is the z-score for an income of $2,100?

  1. 1.683
  2. 0.90
  3. 2.00
  4. 1.00

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29. A ranking scale is a scale that _____.

  1. scores an object without making a direct comparison to another object
  2. groups participants
  3. groups concepts according to specific criteria
  4. scores an object by making a comparison and determining order among two or more objects

30. What is the interpretation of a 96% confidence level?

  1. The interval contains 96% of all sample means.
  2. Approximately 96 out of 100 such intervals would include the true value of the population parameter.
  3. There's a 96% chance that the given interval includes the true value of the population parameter.
  4. There's a 4% chance that the given interval does not include the true value of the population parameter.

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