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Exercise 1 Fortitude Insurance sells extended car warranties over the phone. They call people using random dialing. When recipients of the phone call press one on their phone, they are transferred to a sales agent. Sales agents are paid on commission. Management is concerned about the rapid turn-over of sales agents. They have decided to test a more lucrative commission plan. You have been hired to conduct this test. The research question: Does the new commission plan help sales agents increase their weekly sales commission? The significance level will be set at 5%. Step 1: Test Set-Up Question 1: How large a sample is needed to achieve 80% statistical power? Based on past research Cohen's d effect size is estimated at 0.40, which is a small effect. See the table below:

Exercise 1 Fortitude Insurance sells extended car warranties over the phone. They call people using random dialing. When recipients of the phone call press one on their phone, they are transferred to a sales agent. Sales agents are paid on commission. Management is concerned about the rapid turn-over of sales agents. They have decided to test a more lucrative commission plan. You have been hired to conduct this test. The research question: Does the new commission plan help sales agents increase their weekly sales commission? The significance level will be set at 5%. Step 1: Test Set-Up Question 1: How large a sample is needed to achieve 80% statistical power? Based on past research Cohen's d effect size is estimated at 0.40, which is a small effect. See the table below:

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section: Chapter Questions
Problem 8CR
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Exercise 1 Fortitude Insurance sells extended car warranties over the phone. They call people using random dialing. When recipients of the phone call press one on their phone, they are transferred to a sales agent. Sales agents are paid on commission. Management is concerned about the rapid turn-over of sales agents. They have decided to test a more lucrative commission plan. You have been hired to conduct this test. The research question: Does the new commission plan help sales agents increase their weekly sales commission? The significance level will be set at 5%. Step 1: Test Set-Up Question 1: How large a sample is needed to achieve 80% statistical power? Based on past research Cohen's d effect size is estimated at 0.40, which is a small effect. See the table below: Cohen's d ES Thresholds Small 0.2 Medium 0.5 Large 0.8 Here are the results of an a priori power analysis run using G*Power. Output parameters Noncentrality parameter 6 2.5612497 Critical t 1.6838510 Df 40 Total sample size 41 Actual power 0.8085822
Transcribed Image Text:Exercise 1 Fortitude Insurance sells extended car warranties over the phone. They call people using random dialing. When recipients of the phone call press one on their phone, they are transferred to a sales agent. Sales agents are paid on commission. Management is concerned about the rapid turn-over of sales agents. They have decided to test a more lucrative commission plan. You have been hired to conduct this test. The research question: Does the new commission plan help sales agents increase their weekly sales commission? The significance level will be set at 5%. Step 1: Test Set-Up Question 1: How large a sample is needed to achieve 80% statistical power? Based on past research Cohen's d effect size is estimated at 0.40, which is a small effect. See the table below: Cohen's d ES Thresholds Small 0.2 Medium 0.5 Large 0.8 Here are the results of an a priori power analysis run using G*Power. Output parameters Noncentrality parameter 6 2.5612497 Critical t 1.6838510 Df 40 Total sample size 41 Actual power 0.8085822
Question 3: Based on the research question is this a left-tail, two-tail, or right-tail test? Place an X in the correct box. Provide the reason for your answer below the checklist. Check Correct Tails Test Left-tail Two-tails Right-tail What is your rationale for this answer? Here are the collected data on weekly sales commissions: Weekly Commission New Plan Old Plan $349 $444 $401 1 $493 $358 3 $490 $415 $319 5 $333 $440 $433 $328 $426 $429 $332 $466 $378 $388 8 9. 10 $421 $475 $382 $365 11 12 $341 $311 13 $494 $420 14 $499 $324 15 $323 $445 16 $443 $432 17 $422 $426 18 $383 $430 $459 $465 $324 19 $449 20 $430 21 $341 22 $392 $376 23 $484 $453 24 $475 $424 25 $336 $308 26 $460 $355 27 $485 $465 28 $342 $431 29 $482 $329 30 $438 $419 31 $343 $457 $414 $318 $327 32 33 $413 34 $502 $397 35 $413 $450 36 $381 $406 37 $388 $388 38 $469 $341 $333 $338 39 $472 40 $334 $442 $390.63 41 $391 Мean $419.05 SD $57.20 $51.51 Step 2: Select the Level of Significance, a. A 5 percent significance level is selected. Question 4: What is (are) the critical values(s)? Round off to three decimal places passed the decimal point. Use the Excel file Finding_CVs_p-values.xlsx to find the critical value(s). Answer:
Transcribed Image Text:Question 3: Based on the research question is this a left-tail, two-tail, or right-tail test? Place an X in the correct box. Provide the reason for your answer below the checklist. Check Correct Tails Test Left-tail Two-tails Right-tail What is your rationale for this answer? Here are the collected data on weekly sales commissions: Weekly Commission New Plan Old Plan $349 $444 $401 1 $493 $358 3 $490 $415 $319 5 $333 $440 $433 $328 $426 $429 $332 $466 $378 $388 8 9. 10 $421 $475 $382 $365 11 12 $341 $311 13 $494 $420 14 $499 $324 15 $323 $445 16 $443 $432 17 $422 $426 18 $383 $430 $459 $465 $324 19 $449 20 $430 21 $341 22 $392 $376 23 $484 $453 24 $475 $424 25 $336 $308 26 $460 $355 27 $485 $465 28 $342 $431 29 $482 $329 30 $438 $419 31 $343 $457 $414 $318 $327 32 33 $413 34 $502 $397 35 $413 $450 36 $381 $406 37 $388 $388 38 $469 $341 $333 $338 39 $472 40 $334 $442 $390.63 41 $391 Мean $419.05 SD $57.20 $51.51 Step 2: Select the Level of Significance, a. A 5 percent significance level is selected. Question 4: What is (are) the critical values(s)? Round off to three decimal places passed the decimal point. Use the Excel file Finding_CVs_p-values.xlsx to find the critical value(s). Answer:
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