Essentials Of Statistics For Business & Economics

9th Edition

ISBN: 9780357045435

Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

Publisher: South-Western College Pub

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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Textbook Question

Chapter 9.7, Problem 50E

Age of Magazine Subscribers. Young Adult magazine states the following hypotheses about the mean age of its subscribers.

H 0 : μ = 28 H a : μ ≠ 28

a. What would it mean to make a Type II error in this situation?
b. The population standard deviation is assumed known at σ = 6 years and the sample size is 100. With α = .05, what is the probability of accepting H₀ for μ equal to 26, 27, 29, and 30?
c. What is the power at μ = 26? What does this result tell you?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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Chapter 9.7, Problem 49E

Chapter 9.7, Problem 52E

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Chapter 9 Solutions

Essentials Of Statistics For Business & Economics

Ch. 9.1 - 1. The manager of the Danvers-Hilton Resort Hotel...Ch. 9.1 - 2. The manager of an automobile dealership is...Ch. 9.1 - A production line operation is designed to fill...Ch. 9.1 - Because of high production-changeover time and...Ch. 9.2 - Beer and Cider Consumption. According to the...Ch. 9.2 - 6. The label on a 3-quart container of orange...Ch. 9.2 - Carpet Salesperson Salaries. Carpetland...Ch. 9.2 - 8. Suppose a new production method will be...Ch. 9.3 - Consider the following hypothesis test: H0:20Ha:20...Ch. 9.3 - Consider the following hypothesis test: A sample...

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Solution Summary: The author explains the meaning of Type II error, which occurs when the hypothesis test indicates that the population mean age is 28.

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