WK9Assgn1_Hemphill_L

An economist wishes to determine whether there is evidence that the average family income in a community is less than $75,000 or not. Should she use a two-tail or upper tail or lower tail hypothesis test? Explain.   (d) Briefly explain the steps needed for a completely randomized experimental design in Analysis of Variance. Give a real world example to clarify. Use at least 8 sentences to answer this question.                                                                         (e) What is multiple regression analysis? What are the differences between the simple linear regression analysis and the multiple regression analysis? Give a real world example to clarify. Use at least 8 sentences to answer this question.

Last school year, the student body of a local university consisted of 35% freshmen, 25% sophomores, 24% juniors, and 16% seniors. A sample of 300 students taken from this year's student body was taken to determine if there had been a significant change in % of students for each classification for this year as compared to last year. This analysis is an example of a Regression O Goodness of Fit Analysis of Variance Test of Independence

Two-Way ANOVA If we have a goal of using the data described in Exercise 1 to (1) determine whether age bracket has an effect on pulse rates and (2) to determine whether gender has an effect on pulse rates, should we use one-way analysis of variance for the two individual tests? Why or why not?

P1

Briefly explain the effect of non-homogeneity of variance in one-way analysis of variance in both balanced and unbalanced experimental designs.

Critically discuss the relationship between the concepts of Regression and Analysis of Variance (ANOVA).

A brokerage firm wants to conduct a study to see if there is a linear relationship between the size of an account and the number of trades conducted each year. What would be the most appropriate procedure to use to analyze data to answer this question? Only choose a test that handles multiple comparisons if such a test is needed. O ANOVA (Analysis of Variance) O Regression Test of Slope or Correlation O Test for a Difference of Proportions O Chi-square test of association O Test for a Difference of Means

[Multi-period inventory] STH hospital currently uses two types of surgical gloves (G1 and G2) for their healthcare workers. The annual demand for each is normally distributed. For G1 the mean is 5,000 pairs with a variance of 3,000; for G2 the mean is 8,000 pairs with a variance of 5,000. Each pair of gloves costs $3 (regardless of type), the cost to place an order is $100, and STH uses an annual holding cost of 20% of the value. Demand between G1 and G2 is independent. STH uses an (Q,R) system where Q is determined by the EOQ and a service level of 97% is used. The replenishment lead time is 5 weeks for each glove type. (You can assume each year has 52 weeks.) a. Determine the order quantity Q, safety stock, and reorder point R for each type of gloves. AB b. According to the risk pooling strategy, STH decides that is will standardize by using G1 to meet all demand for gloves. Determine the new order quantity Q, safety stock, and reorder point R for G1

You collect data on coronavirus cases from a random sample of cities of similar sizes in cold climates and in warm climates and make the following table: (This data can be copied into Excel.) You use this data to answer the research question: is the population average number of coronavirus cases different in warm cities and cold cities? You assume that the variances of coronavirus cases are not equal across cold cities and warm cities. What is the p-value associated with your hypothesis test? Round your answer to four decimal places.

A study’s ability to reveal a statistically significant difference between the levels of an independent variable when one truly exists is known as:    Covariance            Statistical validity            Power            Effect size

A one-way between subjects analysis of variance should be used instead of a one-way within subjects ANOVA in which of the following experiments? Comparing the level of authoritarianism of insurance salesmen, medical doctors, and dentists Examining the performance of a group 15 students at 0 weeks, 10 weeks, and 20 weeks Assessing the weight gain of a group of infants at 1 month, 2 months, and 3 months None of the above