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1. A large discount chain compares the performance of its credit managers in Ohio and Illinois by comparing the mean dollar amounts owed by customers with delinquent charge accounts in these two states. Two random samples of 10 delinquent accounts are selected from all delinquent accounts in Ohio and Illinois. The sample of Ohio gives a mean dollar amount of $524 with a standard deviation of $68. The second sample from Illinois yields a mean dollar amount of $473 with a standard deviation of $22. (i) Calculate a 95% confidence interval for the difference between the mean dollar amounts owed in Ohio and Illinois; (ii) Can we conclude at a 5% level of significance that there is a difference between the mean dollars owed by customers with delinquent charge accounts in Ohio and Illinois?
2. Professor Brunner had students in his Marketing class rate his performance as Excellent, Good, Fair or Poor. A graduate student collected the ratings and assured the students that Professor Brunner would not receive them until after the course grades had been submitted. The rating (i.e. the treatment) a student gave the professor was matched with his/her course grade, which could range from 0 to 100. The data is as follows:
Course Grades
Excellent Good Fair Poor
94 75 70 68
90 68 73 70
85 77 76 72
80 83 78 65
88 80 74
68 65
65
Is there a difference in the mean scores of the students in each of the four rating categories at a 99% confidence level?
A least squares linear trend line is just a simple regression line with the independent variable being time (months or years for example).
In each of the following cases, decide whether or not a binomial distribution is an appropriate model, and give your reasons.
Compute the value of the proportion of the population.
The NY Dept of Motor Vehicles (DMV) designs its license plates with space for 7 letters or numerals. In the most recent iteration, the DMV uses three letters followed by 4 numbers.
Use a 1% level of significance to test the claim that there are more calls during the night than in the day.
Carry out the ANOVA and, if essential, post-hoc comparisons. Make a graph to represent group differences, and interpret ANOVA in a paragraph written in APA style.
Decision making using the Transportation method.
In a marketing study, 100 consumers were asked to select the best digital music player from the iPod, the iRiver, and the Magic Star MP3. To summarize the consumer responses with a frequency table, how many classes would the frequency table have?
The sample mean is 50, the t-critical value is 1.96, and the standard error of the sample mean is 2.
A large population of overdue bills has balances that fallow a normal curve. When we take a sample of 100 of these the average is $500 and the standard deviation is $100.
What's the probability that among three randomly selected high school students
Use exponential smoothing to forcast Aug. income. Assume that the initial forecast for Feb. is $65,000. The smoothing constant selected is x=0.1
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