Basic Business Statistics, Student Value Edition
14th Edition
ISBN: 9780134685113
Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 12, Problem 30PS
To determine
Determine the lower and upper tail critical values for the Test Statistic
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Question 9
A well-known brokerage firm executive claimed that 60% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 100 people, 61% of them said they are confident of meeting their goals.Test the claim that the proportion of people who are confident is larger than 60% at the 0.10 significance level.The null and alternative hypothesis would be:
H0:μ≤0.6H0:μ≤0.6H1:μ>0.6H1:μ>0.6
H0:p≥0.6H0:p≥0.6H1:p<0.6H1:p<0.6
H0:p≤0.6H0:p≤0.6H1:p>0.6H1:p>0.6
H0:μ≥0.6H0:μ≥0.6H1:μ<0.6H1:μ<0.6
H0:μ=0.6H0:μ=0.6H1:μ≠0.6H1:μ≠0.6
H0:p=0.6H0:p=0.6H1:p≠0.6H1:p≠0.6
The test is:
left-tailed
right-tailed
two-tailed
The test statistic is: (to 2 decimals)The p-value is: (to 4 decimals)Based on this we:
Fail to reject the null hypothesis
Reject the null hypothesis
Question 17: A well-known brokerage firm executive claimed that 90% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 100 people, 81% of them said they are confident of meeting their goals.Test the claim that the proportion of people who are confident is smaller than 90% at the 0.05 significance level.The null and alternative hypothesis would be:
H0:p≤0.9H0:p≤0.9H1:p>0.9H1:p>0.9
H0:μ≤0.9H0:μ≤0.9H1:μ>0.9H1:μ>0.9
H0:μ≥0.9H0:μ≥0.9H1:μ<0.9H1:μ<0.9
H0:μ=0.9H0:μ=0.9H1:μ≠0.9H1:μ≠0.9
H0:p=0.9H0:p=0.9H1:p≠0.9H1:p≠0.9
H0:p≥0.9H0:p≥0.9H1:p<0.9H1:p<0.9
The test is:
two-tailed
right-tailed
left-tailed
The test statistic is: (to 3 decimals)The p-value is: (to 4 decimals)Based on this we:
Fail to reject the null hypothesis
Reject the null hypothesis
Only answere 9.20
9.18 If, in a sample of n=16 selected from a normal population, X=56 and S=12, what is the value of tSTAT if you are testing the null hypothesis H0: m=50? tSTAT=2.0
9.20 In Problems 9.18, what are the critical values of t if the level of significance, a, is 0.05 and the alternative hypothesis, H1, is m≠50
Chapter 12 Solutions
Basic Business Statistics, Student Value Edition
Ch. 12 - Determine the critical value of 2 with 1 degree of...Ch. 12 - Determine the critical value of 2 with 1 degree of...Ch. 12 - Use the following contingency table: a. Compute...Ch. 12 - Use the following contingency table: a. Compare...Ch. 12 - An lpsos poll asked 1,004 adults “If purchasing...Ch. 12 - Prob. 6PSCh. 12 - Prob. 7PSCh. 12 - The Society for Human Resource Management (SHRM)...Ch. 12 - What Social media tools do marketers commonly use?...Ch. 12 - Docs co-browsing have positive effects on the...
Ch. 12 - Consider a contingency table, with two rows and...Ch. 12 - Use the following contingency table: a. Compute...Ch. 12 - Use the following contingency table: a. Compute...Ch. 12 - How common are financial cost or contractual...Ch. 12 - Business sensor technology provides a way for...Ch. 12 - Prob. 16PSCh. 12 - Repeat (a) and (b) of Problem 12.16, assuming that...Ch. 12 - Prob. 18PSCh. 12 - The MSCI 2016 Survey of Women of Boards Survey...Ch. 12 - Prob. 20PSCh. 12 - Prob. 21PSCh. 12 - Prob. 22PSCh. 12 - A Gallup survey across generations of workers...Ch. 12 - How often do Facebook users post? A study by the...Ch. 12 - What makes sales leaders tick? Mercuri...Ch. 12 - PwC takes a closer look at what CEOs are looking...Ch. 12 - Using Table E.6, determine the lower-and...Ch. 12 - Using Table E.6, determine the lower-tail critical...Ch. 12 - Prob. 29PSCh. 12 - Prob. 30PSCh. 12 - Prob. 31PSCh. 12 - Prob. 32PSCh. 12 - From Problem 12.32 , at the 0.05 level of...Ch. 12 - In Problems 12.32 and 12.33, what is your...Ch. 12 - A vice president for marketing recruits 20 college...Ch. 12 - Prob. 36PSCh. 12 - Is there a difference in the satisfaction rating...Ch. 12 - The management of a hotel has the business...Ch. 12 - Prob. 39PSCh. 12 - Brand valuations are critical to CEOs, financial...Ch. 12 - A bank with a branch located in a commercial...Ch. 12 - Prob. 42PSCh. 12 - Prob. 43PSCh. 12 - Prob. 44PSCh. 12 - A pet food company has the business objective of...Ch. 12 - A hospital conducted a study of the waiting time...Ch. 12 - Prob. 47PSCh. 12 - An advertising agency has been hired by a...Ch. 12 - Prob. 49PSCh. 12 - The more costly and time consuming it is to export...Ch. 12 - Prob. 51PSCh. 12 - Prob. 52PSCh. 12 - Prob. 53PSCh. 12 - Prob. 54PSCh. 12 - Prob. 55PSCh. 12 - Prob. 56PSCh. 12 - Prob. 57PSCh. 12 - Prob. 58PSCh. 12 - Prob. 59PS
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
- . In general, a ____ t-statistic and a _____ p-value (relative to a chosen critical value and alpha) indicate that our estimated statistic is ____ to occur by chance if the null is true. a. Large; large; likely b. Small; large; likely c. Small; small; unlikely d. Large; large; likelyarrow_forwardQUESTION 12 Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-car buyers, 46 have traded in their old car. To determine (at the 10% level of significance) whether the proportion of new-car buyers that trade in their old car has statistically significantly decreased, what can you conclude concerning the null hypothesis?arrow_forwardCalculate the PRESS statistic for the model developed from the estimation data in Problem 11.2. How well is the model likely to predict? Compare this indication of predictive performance with the actual performance observed in Problem 11.2.arrow_forward
- QUESTION 12 Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-car buyers, 46 have traded in their old car. To determine (at the 10% level of significance) whether the proportion of new-car buyers that trade in their old car has statistically significantly decreased, what can you conclude concerning the null hypothesis? Reject the null hypothesis Fail to reject the null hypothesisarrow_forwardQuestion 16: Test the claim that the proportion of people who own cats is larger than 50% at the 0.005 significance level.The null and alternative hypothesis would be: H0:μ=0.5H0:μ=0.5H1:μ≠0.5H1:μ≠0.5 H0:p≤0.5H0:p≤0.5H1:p>0.5H1:p>0.5 H0:μ≤0.5H0:μ≤0.5H1:μ>0.5H1:μ>0.5 H0:p=0.5H0:p=0.5H1:p≠0.5H1:p≠0.5 H0:μ≥0.5H0:μ≥0.5H1:μ<0.5H1:μ<0.5 H0:p≥0.5H0:p≥0.5H1:p<0.5H1:p<0.5 The test is: left-tailed right-tailed two-tailed Based on a sample of 200 people, 56% owned catsThe test statistic is: (to 2 decimals)The p-value is: (to 2 decimals)Based on this we: Fail to reject the null hypothesis Reject the null hypothesisarrow_forwardQUESTION 11 An educator estimates that the dropout rate for seniors at high schools in Colorado is 15%. Last year in a random sample of 300 Colorado seniors, 34 withdrew from school. At α = 0.10 level of significance, is there enough evidence to reject the educator’s claim? Yes, because the p-value is 0.075 Yes, because the z-statistic is 1.6 No, because the p-value is 0.038 Yes, because the p-value is larger than 0.15arrow_forward
- Problem Set #6 due on 11/1/2020 1. Under what conditions would a researcher choose to use a t-test for independent samples? 2. A researcher is testing a two-tailed null hypothesis at the p < .01 level with df = 48. What critical value would she or he use? Justify your answer. 3. A researcher is testing a two-tailed null hypothesis at the p < .01 level with df = 45. What critical value would she or he use? Justify your answer. 4. What is the simplest way to compute an effect size? 5. If the number of participants in Group 1 = 54 and the number in Group 2 = 58, what is the associated degrees of freedom? 6. If the obtained t value is 7.14, and the critical value is 6.10, what decision should be made? 7. What does the number 58 represent in the following: t(58) = 2.001, p < 0.05? 8. What does the number 0.05 represent in the following: t(58) = 2.001, p < 0.05? 9.…arrow_forwardQuestion 1) Consider the following context: The nutrition and food science division of Farnsworth Pharmaceuticals is alpha testing an OTC diagnostic kit so that adults who self-report a certain food allergy can affirm their insensitivity to that food allergen. Preliminary clinical trials yielded that 25% of the volunteers who suspected they had food allergies were clinically identified as sensitive or intolerant to the food allergen; unfortunately and disappointingly, only 10% of those who tested positive in the clinic also tested positive with the kit. Furthermore, of those self-reporting adult volunteers who had a negative clinic outcome, 5% tested positive anyway with the kit. How many complete branches, from start to finish, would a tree diagram that models this context include? H Question 2) The nutrition and food science division of Farnsworth Pharmaceuticals is alpha testing an OTC diagnostic kit so that adults who self-report a certain food allergy can affirm their…arrow_forwardConsider the following two formulations of the bivariate PRF, where ui and εi are both mean-0 stochastic disturbances (i.e random errors): yi = β0 + β1xi + u yi = α0 + α1(xi − x¯) + ϵ a) Write the OLS estimators of β1 and α1. Are the two estimators the same? b) What is the advantage, if any, of the second model over the first?arrow_forward
- Question 1 For the following scenarios provide the following: • the null and alternative hypotheses • explain whether the hypothesis test is left-tailed, right-tailed, or two-tailed, • explain how you should interpret a decision that rejects the null hypothesis, and • explain how you should interpret a decision that fails to reject the null hypothesis. a. A meal supplement provider claims that the average difference in calories between two brands is 55.arrow_forwardQUESTION 2 When performing a Mann-Whitney U test one should always use the higher value of the calculated U values to compare to the critical U value while making the decision rule. True Falsearrow_forwardSuppose a linear model y=β0+β1xy=β0+β1x is fit to a sample data set, and a test of the null hypothesis H0:β1=0H0:β1=0 against an alternative hypothesis HA:β1≠0HA:β1≠0 is performed; a PP-value of 0.4203 is obtained. Which of the following scatter plots depicts the data set on which this model was fit and the hypothesis test was performed?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSON
The Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. Freeman
Introduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman
Hypothesis Testing - Solving Problems With Proportions; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=76VruarGn2Q;License: Standard YouTube License, CC-BY
Hypothesis Testing and Confidence Intervals (FRM Part 1 – Book 2 – Chapter 5); Author: Analystprep;https://www.youtube.com/watch?v=vth3yZIUlGQ;License: Standard YouTube License, CC-BY