Question 7

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A recent article in USA today reported that a job awaits only 1 in 3 (33.3%) new college graduates. The major reasons given were an overabundance of college graduates and a weak economy. A survey of 200 recent graduates from your school revealed that 80 students had jobs. At a .05 significance level, can we conclude that a larger proportion of students at your school have jobs?

 

What is the null hypothesis for this hypothesis test?

 

a The number of students that had jobs is less than 33.3% b The number of students that had jobs is more than 33.3% c The number of students that had jobs is less than or equal to 33.3%. d The number of students that had jobs is more than or equal to 33.3% e The number of students that had jobs is not equal to 33.3%

 

Enter the correct answer by selecting the appropriate letter without a decimal point.

 

___c___

 

What is the alternate hypothesis for this hypothesis test?

 

a The number of students that had jobs is less than 33.3% b The number of students that had jobs is more than 33.3% c The number of students that had jobs is less than or equal to 33.3%. d The number of students that had jobs is more than or equal to 33.3% e The number of students that had jobs is not equal to 33.3%

 

Enter the correct answer by selecting the appropriate letter without a decimal point.

 

___b___

 

What is the significance level of the test?

 

Enter answer as a 2 place decimal with a 0 entered to the left of the decimal point. Do not enter answer as a percent.

 

___0.05___

 

What is the appropriate distribution to use to answer the question?

 

a Uniform Distribution b Normal Distribution c t Distribution d Chi Square Distribution e F Distribution

 

Enter the correct answer by selecting the appropriate letter without a decimal point.

 

___b___

 

What is the numerical value of the test statistic? Enter answer as a decimal rounded to 1 or less places (1 place or an integer which ever is appropriate)?

 

___2.1___

 

What is the numerical value of the Pvalue?

 

Enter answer rounded to 2 places with a zero to the left of the decimal place. Do not enter answer as a percent.

 

___0.40__

 

What is the Pvalue Decision Rule?

 

a. The data supports the alternate hypothesis if the Pvalue is greater than the significant level of the test. b. The data supports the alternate hypothesis if the Pvalue is less than or equal to the significant level of the test. c. The data supports the alternate hypothesis if the Pvalue equals the significant level of the test. d. The data supports the alternate hypothesis if the Pvalue does not equal the significant level of the test.

 

Select the correct answer and enter the appropriate letter without a decimal point.

 

___A__

 

What is the appropriate decision based upon your analyses of the data? Enter the correct answer by selecting the appropriate letter without a decimal point.

 

a There is sufficient evidence reject the null hypothesis. b There is insufficient evidence to reject the null hypothesis. c There is insufficient evidence to make a decision based upon the data.

 

Enter the correct answer by selecting the appropriate letter without a decimal point.

statistics

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The standard deviation of test scores on a certain achievement test is

11.5

. A random sample of

50

scores on this test had a mean of

72.9

. Based on this sample, find a

99%

confidence interval for the true mean of all scores. Then complete the table below.

Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place.

(If necessary, consult a list of formulas.)

 
 

What is the lower limit of the

99%

confidence interval?

 
What is the upper limit of the

99%

confidence interval?

 

 

Two-Sample Hypothesis Tests

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                                                                    Chapter 10

Two-Sample Hypothesis Tests

 

1) Discover Card would like to test the hypothesis that the average credit score for an adult in Dallas is different from the average credit score for an adult in Houston. A random sample of 40 adults in Dallas had an average credit score of 699 and a random sample of 35 adults in Houston had an average credit score of 682. It is believed that the population standard deviation for credit scores is 44 and 41 for Dallas and Houston residents, respectively. Discover Card would like to set α = 0.05. Define Population 1 as Dallas and Population 2 as Houston and use the critical value approach to test this hypothesis.

 

2) Auto Trader Group (ATG) would like to test the hypothesis that the average age of an imported car on the road is greater than the average age of a domestic car. The following data shows the sample size and the average age of cars for import and domestic cars along with the population standard deviations.

 

 

Domestic

Import

Sample mean

9.4 years

10.8 years

Sample size

33

36

Population standard deviation

3.2 years

2.8 years

 

Define Population 1 as import cars and Population 2 as domestic cars. Construct a 90% confidence interval for the difference in population mean and interpret the results.

 

3) Farmers Insurance Group would like to test the hypothesis that the average number of miles driven per month by a male driver exceeds the average number of miles driven per month by a female driver by more than 50 miles. The following data summarizes the sample statistics for the miles driven per month by each gender. Assume that the population variances are equal.

 

 

Male

Female

Sample mean

685

580

Sample size

13

16

Sample standard deviation

130

120

 

Define Population 1 as male drivers and Population 2 as female drivers and use the critical value approach to test this hypothesis with α = 0.05.

4) Holiday Inn Express has developed a training program for its hotel staff in an effort to increase customer satisfaction. The employees at the Philadelphia Midtown location completed the training while the employees at the Philadelphia E Penns Landing location did not. Holiday Inn Express would like to test the hypothesis that the average customer satisfaction score at the Midtown location is higher than the average satisfaction score at the E Penns Landing location. The following data summarizes the sample statistics for customer satisfaction, on a scale of 1 to 100, for each location. Assume that the population variances are unequal.

 

 

Midtown

E Penns Landing

Sample mean

82.6

78.3

Sample size

25

20

Sample standard deviation

5.0

6.0

 

Define Population 1 as the Midtown location and Population 2 as E Penns Landing location and use the critical value approach to test this hypothesis with α = 0.01.

 

 

Question Completion Status: QUESTION 1 1. The ____________________ is a type of financial statement that indicates the worth or financial condition of a business as of a certain date. income statement ratio statement balance sheet vertical analy

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  Question Completion Status:

QUESTION 1

1.The ____________________ is a type of financial statement that indicates the worth or financial condition of a business as of a certain date.

income statement

ratio statement

balance sheet

vertical analysis

10 points   

QUESTION 2

1._________ assets are assets that are normally turned into cash within a year.

Liquid

Nonliquid

Current

Historical

10 points   

QUESTION 3

1._______ and _________ are assets that are used in transacting business and are more long term in nature.

Plant and equipment

Accounts and receivables

Notes and cash

Merchandise and inventory

10 points   

QUESTION 4

1.___________ are amounts that the business owes.

Assets

Liabilities

Receivables

Inventories

10 points   

QUESTION 5

1.Capital, proprietorship, and net worth are all terms that refer to owner’s _______.

liabilities

debts

equity

cash

10 points   

QUESTION 6

1.A __________ analysis of a balance sheet shows the ratio of each item on the balance sheet to the total assets.

horizontal

current

wage

vertical

10 points   

QUESTION 7

1.A(n) ___________ analysis compares the same item for two different years.

vertical

current

horizontal

inventory

10 points   

QUESTION 8

1.The ___________ statement shows the net income of a business over a period of years.

income

expenditure

liability

loss

10 points   

QUESTION 9

1.______ sales is the difference between the total sales and sales returns or allowances.

Gross

Surplus

Discounted

Net

10 points   

QUESTION 10

1.________ profit is the difference between the net sales and the cost of goods sold.

Net

Surplus

Gross

Incidental

 

 

mat 210

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Find the indicated derivative using implicit differentiation. HINT [See Example 1.]

x2y − y2 = 8; 

dy
dx

 

 
Find the indicated derivative using implicit differentiation. HINT [See Example 1.]

xey − yex = 5; 

dy
dx

 

 
Find the exact location of all the relative and absolute extrema of the function. HINT [See Example 1.]
g(t) = 

1
4

t4 − 

2
3

t3 + 

1
2

t2 with domain (−∞, +∞)

g has       at 

(t, y) = 

 

 

.

 
Find the exact location of all the relative and absolute extrema of the function. HINT [See Example 1.]

g(t) = et − t with domain [−1, 1]

g has       at 

(t, y) = 

 

 

.


g has       at 

(t, y) = 

 

 

.


g has       at 

(t, y) = 

 

 

.

Math Help

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  1. Static Budget vs. Flexible Budget

    The production supervisor of the Machining Department for Nell Company agreed to the following monthly static budget for the upcoming year:

    Nell Company
    Machining Department
    Monthly Production Budget
    Wages $311,000
    Utilities 16,000
    Depreciation 27,000
    Total $354,000

    The actual amount spent and the actual units produced in the first three months of 2016 in the Machining Department were as follows:

      Amount Spent Units Produced
    January $334,000   68,000  
    February 319,000   62,000  
    March 305,000   56,000  

    The Machining Department supervisor has been very pleased with this performance, since actual expenditures have been less than the monthly budget. However, the plant manager believes that the budget should not remain fixed for every month but should “flex” or adjust to the volume of work that is produced in the Machining Department. Additional budget information for the Machining Department is as follows:

    Wages per hour $21
    Utility cost per direct labor hour $1.1
    Direct labor hours per unit 0.2
    Planned monthly unit production 74,000

    a.  Prepare a flexible budget for the actual units produced for January, February, and March in the Machining Department. Assume depreciation is a fixed cost. Enter all amounts as positive numbers. If required, use per unit amounts carried out to two decimal places.

    Nell Company-Machining Department
    Flexible Production Budget
    For the Three Months Ending March 31, 2016
      January February March
    Units of production NaN more Check My Work uses remaining.
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    MAT 510 Week 7 Homework Assignment 6

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    The data in the table below is from a study conducted by an insurance company to determine the effect of changing the process by which insurance claims are approved. The goal was to improve policyholder satisfaction by speeding up the process and eliminating some non-value-added approval steps in the process. The response measured was the average time required to approve and mail all claims initiated in a week. The new procedure was tested for 12 weeks, and the results were compared to the process performance for the 12 weeks prior to instituting the change.

     

                Table: Insurance Claim Approval Times (days)

       Old Process

     

     

    New Process

     

     

    Week

    Elapsed Time

     

     

    Week

    Elapsed Time

    1

    31.7

     

    13

    24

    2

    27

     

    14

    25.8

    3

    33.8

     

    15

    31

    4

    30

     

    16

    23.5

    5

    32.5

     

    17

    28.5

    6

    33.5

     

    18

    25.6

    7

    38.2

     

    19

    28.7

    8

    37.5

     

    20

    27.4

    9

    29

     

    21

    28.5

    10

    31.3

     

    22

    25.2

    11

    38.6

     

    23

    24.5

    12

    39.3

     

    24

    23.5

     

    Use the date in table above and answer the following questions in the space provided below:

    1. What was the average effect of the process change? Did the process average increase or decrease and by how much?
    1. Analyze the data using the regression model y = b0 + b1x, where y = time to approve and mail a claim (weekly average), x = 0 for the old process, and x = 1 for the new process.
    1. How does this model measure the effect of the process change?
    1. How much did the process performance change on the average? (Hint: Compare the values of b1 and the average of new process performance minus the average of the performance of the old process.)

    QUESTION 1 1. The type of loan for which consumers do not pay the full amount at the time of purchase, but pay a portion of the amount owed in regular payments, is called consumer _________. contingent uncertain credit rule 10 points QUESTION 2

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    QUESTION 1

    1.The type of loan for which consumers do not pay the full amount at the time of purchase, but pay a portion of the amount owed in regular payments, is called consumer _________.

    contingent

    uncertain

    credit

    rule

    10 points   

    QUESTION 2

    1.Loans with regular payments are called _________________ loans.

    future

    present

    installment

    value

    10 points   

    QUESTION 3

    1._________ installment loans are loans in which the amount borrowed plus interest is repaid in a specified number of equal payments.

    Open-end

    Auto

    Charge

    Closed-end

    10 points   

    QUESTION 4

    1.______________ loans are loans in which there is no fixed number of payments.

    Close-ended

    Terminal

    Nonterminal

    Open-ended

    10 points   

    QUESTION 5

    1.The _______ price is the price you pay if you pay the full amount at the time of sale.

    cash

    credit

    financed

    installment

    10 points   

    QUESTION 6

    1.The _______ payment is a partial payment of the cash price paid at the time of sale.

    cash

    down

    installment

    credit

    10 points   

    QUESTION 7

    1.The _________________ is the total amount you pay in regular payments to pay off the balance of the loan.

    down payment

    selling price

    amount financed

    terminal price

    10 points   

    QUESTION 8

    1.The installment _______ is the amount you pay each period, including interest, to pay off the loan.

    loan

    interest

    payment

    tax

    10 points   

    QUESTION 9

    1.The ________ price is the total paid, including interest, to pay off an installment loan.

    tax

    financed

    nominal

    installment

    10 points   

    QUESTION 10

    1.The interest associated with an installment loan is part of the charges referred to as _______charges or carrying charges.

    gifted

    finance

    latent

    taxable

    10 points   

    Click Save and Submit to save and submit. Click Save All Answers to save all answers.

     

    MAT 510 FINAL EXAM

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    Question 1

    4 out of 4 points

       
     

    Understanding variation is important because variation:

    		      

     

     

     

     
    		     
    • Question 2

    4 out of 4 points

       
     

    The Statistical Thinking Strategy illustrated in Figure 2.14 provides a graphic of the overall approach to driving improvement through statistical thinking. Which of the following is a key principle illustrated in this specific graph?

    		      

     

     

     

     
    		     
    • Question 3

    4 out of 4 points

       
     

    Improving the quality of process measurements is:

    		      

     

     

     

     
    		     
    • Question 4

    4 out of 4 points

       
     

    The Hidden Factory is:

    		      

     

     

     

     
    		     
    • Question 5

    4 out of 4 points

       
     

    Which type of variation was critical to resolving the realized revenue case study?

    		      

     

     

     

     
    		     
    • Question 6

    4 out of 4 points

       
     

    A process is said to be capable if:

    		      

     

     

     

     
    		     
    • Question 7

    4 out of 4 points

       
     

    The histogram below showing ages of credit card holders displays what type of distribution?
     

    		      

     

     

     

     
    		     
    • Question 8

    4 out of 4 points

       
     

    In evaluating data on our process outputs, four characteristics we might investigate are: central tendency, variation, shape of distribution, and stability. Which of the following tools would be most helpful to determine stability of the process?

    		      

     

     

     

     
    		     
    • Question 9

    4 out of 4 points

       
     

    Non-random and unpredictable patterns on a control chart indicate:

    		      

     

     

     

     
    		     
    • Question 10

    4 out of 4 points

       
     

    A main purpose of a control chart is to:

    		      

     

     

     

     
    		     
    • Question 11

    4 out of 4 points

       
     

    Models based on subject matter fundamentals (theory) are generally better than statistical models for:

    		      

     

     

     

     
    		     
    • Question 12

    4 out of 4 points

       
     

    A statistic that is used to indicate too much correlation between the predictors in a regression analysis is called the:

    		      

     

     

     

     
    		     
    • Question 13

    4 out of 4 points

       
     

    George Box tells us “all models are wrong but some are useful”. By this comment he means:

    		      

     

     

     

     
    		     
    • Question 14

    4 out of 4 points

       
     

    Tips for building useful models include:

    		      

     

     

     

     
    		     
    • Question 15

    4 out of 4 points

       
     

    The best way to evaluate the validity of a statistical model is:

    		      

     

     

     

     
    		     
    • Question 16

    4 out of 4 points

       
     

    Given the plot below, what might you suspect about factors A and B?
     

    		      

     

     

     

     
    		     
    • Question 17

    4 out of 4 points

       
     

    The following table shows data on the effect of Machine Pressure on product hardness.   What statistical test should be used to test the effect of pressure on average hardness?
     

    100MPa

    200MPa

    6.2

    11.1

    7.3

    10.3

    8.2

    13

    8.3

    14.3

    7.5

    11.2

    6.5

    14.7

    9.6

    10

    9

    9.4

    		     

     

     

     

     
    		     
    • Question 18

    4 out of 4 points

       
     

    What should one consider when analyzing the results of an experiment?

    		      

     

     

     

     
    		     
    • Question 19

    4 out of 4 points

       
     

    In every experiment there is experimental error.  Which of the following statements is true?

    		      

     

     

     

     
    		     
    • Question 20

    4 out of 4 points

       
     

    A 32 experiment means that we are experimenting with:

    		      

     

     

     

     
    		     
    • Question 21

    4 out of 4 points

       
     

    We are conducting a poll for the mayoral election of a medium sized city, and found with one week before the election that the Democrat candidate is leading with 52% planning to vote for her, 46% planning to vote for the Republican, with 2% not sure. The 95% confidence interval for proportion planning to vote for the Democrat is +/- 3%. Based on this information, and making reasonable assumptions, which of the following statements is correct?

    		      

     

     

     

     
    		     
    • Question 22

    4 out of 4 points

       
     

    For which of the following scenarios am I most likely to utilize a Chi-squared test?

    		      

     

     

     

     
    		     
    • Question 23

    4 out of 4 points

       
     

    After running an ANOVA comparing the average years of experience between five different job classifications, we obtained a p value of .02. Which of the following would be a reasonable conclusion concerning the population in this case?

    		      

     

     

     

     
    		     
    • Question 24

    4 out of 4 points

       
     

    Which of the following could be considered a prediction interval?

    		      

     

     

     

     
    		     
    • Question 25

    4 out of 4 points

       
     

    What would happen (other things equal) to a confidence interval if you calculated a 99 percent confidence interval rather than a 95 percent confidence interval?

    		      

     

     

     

     
    		     

     

    Math help

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    Assignment 2: Use and Misuse of Percentages

    One of the concepts you encountered in the readings this module was how to recognize the use and misuse of information presented in the form of percentages. In this discussion assignment, you will conduct an Internet search to find several examples of the use of percentages. These can be examples of percentages used in advertising claims, reported results from a study, or information shared by a government agency.

    In a minimum of 200 words, post to the Discussion Area your response to the following:

    Find an example of two of the following types of usage of percentages.

    • Use of percentages as a fraction. Remember that this type will use the word of to imply multiplication. Explain whether this was an effective way to represent this information within the context of the example you found.
    • Use of percentages to describe change. In the example you find, determine whether the reported percentage demonstrated absolute or relative change. Show your work. Explain whether this was an effective way to represent this information within the context of the example you found.
    • Use of percentages for comparison. In the example you find, determine whether the reported percentage demonstrated absolute or relative change. Show your work. Explain whether this was an effective way to represent this information within the context of the example you found.

    Now, find an example of two of the following misuses of percentages.

    • Use of a shifting reference value. In this situation, the base values are changing as differing values of percentages are applied as increases, decreases, or both. Percentage increases, decreases, or both do not have a cumulative effect. Be sure to demonstrate why your example fits this category.
    • Use of percentage to represent less than nothing. Look for an example where you are seeing a reduction of some percentage greater than 100. Be sure to demonstrate why your example fits this category.
    • Situation where the average percentage is reported. In general, you can not average percentages. The result isn’t representative of what actually has occurred in the situation in question. Be sure to demonstrate why your example fits this category.

     

    • Examine each example that the student provided. Did these examples sufficiently demonstrate the ways that percentages are used and misused? Explain.
    • What have you learned regarding the necessity of carefully examining the percentages reported in advertising, news media, government reports, etc.?

     

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