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PROBLEM 1
NBC TV news, in a segment on the price of gasoline, reported last evening that the mean price nationwide is $1.50 per gallon for self-serve regular unleaded. A random sample of 35 stations in the Milwaukee, WI, area revealed that the mean price was $1.52 per gallon and that the standard deviation was $0.05 per gallon. At the .05 significance level, can we conclude that the price of gasoline is higher in the Milwaukee area? Calculate the p-value and interpret.
PROBLEM 3:
Babsie is a public affairs specialist at Park University. A press release issued by Babsie based on some research claims that Park University students study at least as much as the national average for students at four year universities. Across the nation, 73 percent of all students at four year universities study at least four hours per week. Seventy percent of one hundred randomly selected Park University students surveyed claimed to study more than four hours per week. Should the University retract its previous statement? Explain why or why not. Answer using a 95 percent confidence interval.
PROBLEM 4:
The weights (in pounds) of a sample of five boxes being sent by UPS are: 12, 6, 7, 3, and 10.a. Compute the mean for this sample. b. Compute the range for this sample. c. Compute the variance for this sample. d. Compute the standard deviation for this sample.
If level of significance ( α ) is 0.005 in two-tail test, how large is non rejection region under curve of the t distribution?
Out of forty students, 14 are taking English Composition and 29 are taking Chemistry. If five students are in both classes, how many students are in neither class? How many are ineither class?
Suppose a restaurant business succeeds 60% of the time. Suppose that there are three such restaurants open in your city. When they don't compete with one another, it is reasonable to believe that their relative success would be independent.
What would you recommend Taylor do to cut back its labor cost? (Illustrate using an ABC plan.)
A random sample of 400 college students was selected and 120 of them had at least one motor vehicle accident in the previous two years. A random sample of 600 young adults not enrolled in college was selected and 150 of them had at least one motor..
How would managers find benefit in helping them to obtain valuable information in problem identification research. Discuss whether these data are secondary or primary and justify your answers
What is the probability that the mean completion time is between 1 and 2 hours, i.e.., 60 and 120 minutes?
An entrepreneur in a developing country owns 10 food carts. He has ten employees to work with these food carts. Let Xi be a random variable representing revenue from cart i (on a particular day), i = 1,..., 10. Xi is approximately normally distrib..
The 30 members of an orchestra were asked how many instruments each could play. The results are set out in the frequency distribution. Calculate the mean number of instruments played:
A random sample a 16 Google managers yield the following information on annual salaries. The sample mean is $69,000, with a sample standard deviation of $4,000. What is the mean salary of all Google managers?
Solar cells are attached to a panel with a new heat resistant adhesive. The adhesive must provide 2.80 pounds of force in order to hold the cell on the panel. A random sample of 50 cells is tested and the following forces are necessary to break th..
A survey conducted by the American Automobile Association of 64 families of size four vacationing in Niagra Falls resulted in an average amount spent per day of $252.45. Assume the population standard deviation of amounts spent per day is estimate..
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