Mortgage rates: Following are interest rates (annual percentage rates) for a 30-year fixed rate mortgage from a sample of lenders in Macon, Georgia for one day. It is reasonable to assume that the population is approximately normal. 4.751 4.372 4.175 4.678 4.421 4.229 4.122 4.254 3.952 4.196 Send data to Excel Part: 0 / 2 Part 1 of 2 (a) Construct a 95% confidence interval for the mean rate. Round the answer to at least four decimal places. A 95% confidence interval for the mean rate is 4.1782 << 4.4648 X

Mortgage rates: Following are interest rates (annual percentage rates) for a 30-year fixed rate mortgage from a sample of lenders in Macon, Georgia for one day. It is reasonable to assume that the population is approximately normal. 4.751 4.372 4.175 4.678 4.421 4.229 4.122 4.254 3.952 4.196 Send data to Excel Part: 0 / 2 Part 1 of 2 (a) Construct a 95% confidence interval for the mean rate. Round the answer to at least four decimal places. A 95% confidence interval for the mean rate is 4.1782 << 4.4648 X

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter5: A Survey Of Other Common Functions

Section5.3: Modeling Data With Power Functions

Problem 6E: Urban Travel Times Population of cities and driving times are related, as shown in the accompanying...

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Urban Travel Times Population of cities and driving times are related, as shown in the accompanying table, which shows the 1960 population N, in thousands, for several cities, together with the average time T, in minutes, sent by residents driving to work. City Population N Driving time T Los Angeles 6489 16.8 Pittsburgh 1804 12.6 Washington 1808 14.3 Hutchinson 38 6.1 Nashville 347 10.8 Tallahassee 48 7.3 An analysis of these data, along with data from 17 other cities in the United States and Canada, led to a power model of average driving time as a function of population. a Construct a power model of driving time in minutes as a function of population measured in thousands b Is average driving time in Pittsburgh more or less than would be expected from its population? c If you wish to move to a smaller city to reduce your average driving time to work by 25, how much smaller should the city be?
Winter visitors are extremely important to the economy of Southwest Florida. Hoteloccupancy is an often-reported measure of visitor volume and visitor activity (naplesdaily news, March 22, 2012). Hotel occupancy data for February in two consecutiveyears are as follows.OccupancyCurrent Year Previous YearOccupied Rooms 1470 1458Total Rooms 1750 1800a. Formulate the hypothesis test that can be used to determine if there has been anincrease in the proportion of rooms occupied over the one-year period.b. What is the estimated proportion of hotel rooms occupied each year?c. Using a .05 level of significance, what is your hypothesis test conclusion? What is thep-value?d. What is the 95% confidence interval estimate of the change in occupancy for the oneyear period? Do you think area officials would be pleased with the results?
Blue Box is testing a new “half price on Tuesday” policy on DVD rentals at a sample of 10 locations. Location New Price Old Price 1 15 11 2 11 7 3 13 10 4 13 14 5 10 9 6 12 15 7 12 13 8 11 7 9 13 12 10 12 9 Click here for the Excel Data File (a-1) Choose the right option for H0:μd ≤ 0; H1:μd> 0. Use α = .05. Reject if tcalc < 1.833 Reject if tcalc > 1.833 (a-2) Calculate the value of tcalc. (Round your answer to 2 decimal places.) tcalc (b-1) Is the decision close? (Round your answer to 4 decimal places.) The decision is (Click to select) not close close The p-value is . (b-2) The new price is better than the old. False True (b-3) The difference is significant. True False (c) Are you convinced? No Yes
Blue Box is testing a new “half price on Tuesday” policy on DVD rentals at a sample of 10 locations. Location New Price Old Price 1 15 11 2 11 7 3 13 10 4 13 14 5 10 9 6 12 15 7 12 13 8 11 7 9 13 12 10 12 9 Click here for the Excel Data File (a-1) Choose the right option for H0:μd ≤ 0; H1:μd> 0. Use α = .05. Reject if tcalc < 1.833 Reject if tcalc > 1.833 (a-2) Calculate the value of tcalc. (Round your answer to 2 decimal places.) tcalc           (b-1) Is the decision close? (Round your answer to 4 decimal places.) The decision is   (Click to select)   not close   close  The p-value is  . (b-2) The new price is better than the old. True False (b-3) The difference is significant. False True (c) Are you convinced? Yes No
An MP of one city constituency complained in parliament that his constituency consists of mainly poorly paid workers. His colleagues demanded that he substantiates his claim. Mtuwetu hired a statistician who collected data on monthly salaries from a sample of 500 residents of the constituency. The statistician recorded the following data: Monthly salary (ksh 000)              No. of residents 0-5                                                50 5 – 10                                            170 10 – 15                                          210 15 – 20                                            40 20 – 25                                            20 25 – 30                                            10 Suppose ksh 8,000 and 22,000 are the divided salary points of lower, middle, and upper-income groups. What proportion of the constituents fall in each of the income groups
Blue Box is testing a new “half price on Tuesday” policy on DVD rentals at a sample of 10 locations. Location New Price Old Price 1 13 10 2 12 8 3 15 11 4 13 12 5 11 10 6 12 14 7 12 12 8 11 6 9 12 14 10 14 9 Click here for the Excel Data File (a-1) Choose the right option for H0:μd ≤ 0; H1:μd> 0. Use α = .10. Reject if tcalc < 1.383 Reject if tcalc > 1.383 (a-2) Calculate the value of tcalc. (Round your answer to 2 decimal places.) tcalc           (b-1) Is the decision close? (Round your answer to 4 decimal places.) The decision is   (Click to select)   close   not close  The p-value is  . (b-2) The new price is better than the old. True False (b-3) The difference is significant. False True (c) Are you convinced? No Yes rev: 04_29_2019_QC_CS-167426
#4) Commuter ridership in Athens, Greece, during the summer months is believed to be heavily tied to the number of tourists visiting the city. During the past 12 years, the data are given in the following table. Year Number of Tourists (millions) Ridership (hundreds of thousands) 1 6 11 2 11 16 3 8 16 4 10 14 5 19 28 6 18 26 7 16 21 8 20 25 9 24 45 10 18 28 11 11 18 12 19 35 a) Create a time series plot for the ridership. b) Using linear regression to see if using the year is a good predictor for the ridership. What is the regression equation? How accurate is the model? c) Using linear regression to see if using the number of tourists is a good predictor for the ridership. What is the regression equation? How accurate is the model? d) Which linear regression equation is better? What is the expected ridership if 10 million tourists visit the city next year? e) Excel File