ECON10005 QUANTITATIVE METHODS 1 Assignment 2 Semester 1, 2013 This assignment has four questions, and is due by 5.00pm on Thursday 2 May. It is to be submitted electronically as a .pdf file using the assignment tool on the subject’s LMS page. Marks depend on your tutor being able to understand your statements and arguments, so marks may be deducted for poor presentation or unclear language. Use nothing smaller than 12 point font. If you wish to write your assignment by hand and scan the file into a .pdf format, you may, though any illegible content will not be marked. You may work in groups of up to 4 students from the same allocated tutorial. Groups should nominate one student to submit the assignment for the whole group, with each …show more content…
How can you explain to the farmer that it is possible to draw these two different conclusions from the same data? (2 marks) (f) Calculate the p-value for the hypothesis tests in parts (b) and (d). How might knowing this value improve the explanation given to the farmer in part (e)? (4 marks) Hint: Think about the definition of the p-value and how this might let you provide a more concise and specific response to the farmer’s concerns Question 3 (6 marks) You are considering entering the market for bikes as a seller. If your bikes are of higher quality than the average bike already in the market for bikes, you will make a 2 profit by entering that market. If your bikes are not of higher quality than the average bike already in the market, you will make a loss by entering the market for bikes. You test, at the 5% level of significance, the hypothesis that the quality of your bikes exceeds the average quality of existing bikes in the market. Given this information, answer the following questions. (a) What would a Type I Error be in the context of this case? Explain what the consequences of a Type I Error would be. (2 marks) (b) What would a Type II Error be in the context of this case? Explain what the consequences of a Type II Error would be. (2 marks) (c) After conducting the test, you conclude that there is sufficient evidence in the data you observe to support the alternative hypothesis that
Please use this template to answer the questions below in essay format. The minimum word count for the three questions of Part 1 is 300 words total (or 100 words per question). A reference citation is required.
Write a 1,050 to 1,400 word paper addressing each of the six questions at the end of this assignment.
Select one (1) project from your working or educational environment that you would use the hypothesis test technique. Next, propose the hypothesis structure (e.g., the null hypothesis, data collection process, confidence interval, test statistics, reject or not reject the decision, etc.) for the business process of the selected project. Provide a rationale for your response.
2. This experiment is not able to support Matthew's hypothesis. Suggest specific improvements that will allow the experiment to more effectively test the given hypothesis. Explain why these changes are improvements.
Given the following information, would your decision be to reject or fail to reject the null hypothesis? Setting the level of significance at .05 for decision making, provide an explanation for your conclusion.
This assessment is my own work, which not been completed in collusion with other student’s and complies with University of Wolverhampton plagiarism policy.
You are to work on this assignment alone without assistance from others; however, you may use your text, class lectures and your notes in completing the assignment.
1. The paper fulfills the purpose of the assignment as described in the syllabus and in this document (up to 10 points)
Explain how the data collected will provide the data necessary to support or negate the hypothesis or proposition
The customers in this case study have complained that the bottling company provides less than the advertised sixteen ounces of product. They need to determine if there is enough evidence to conclude the soda bottles do not contain sixteen ounces. The sample size of sodas is 30 and has a mean of 14.9. The standard deviation is found to be 0.55. With these calculations and a confidence level of 95%, the confidence interval would be 0.2. There is a 95% certainty that the true population mean falls within the range of 14.7 to 15.1.
Conclusion : Reject the null hypothesis. The sample provide enough evidence to support the claim that mean is significantly different from 12 .
Please save this document before you begin working on the assignment. Type your answers directly in the document. When you have finished, submit your work to your teacher.
work. These themes and many more will be explored throughout this paper in an attempt
Your assignment is to be not more than 8 pages double spaced using Time Roman 12 point font. It is to have an introduction and conclusion. You must include reference to the course readings or sources outside the course that you have consulted in preparation for this assignment. Be sure to properly cite your references and to provide a reference list following the conclusion to the essay. Make liberal use of section and sub-section headings in the structure of the
a) A recent article in Bangladesh Observer indicated that the mean selling price of the homes in the city of Dhaka is more than Tk. 2200. Can we conclude that the mean selling price in the Gulshan area is more than Tk. 2200? Use the 0.01 significance level. What is the P-value?