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Question a: Which of the following conditions must be met to conduct a test for the difference in two sample means?
a. Data must be at least of interval scale
b. Populations must be normal
c. Variances in the two populations must be equal
d. A and B correct
Question b: Suppose we test the difference between two proportions at the 0.05 level of significance. If the computed z is -1.07, what is our decision?
a. Reject the null hypothesis
b. Do not reject the null hypothesis
c. Take a larger sample
d. Reserve judgment
A major department store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain's new store in the mall.
Determine what analysis would you do on each problem (ie, one-sample z-test, one-sample t-test, proportion test, two-sample independent t-test, or paired test)?
Criterion of realism or Hurwitz. Assume that the payoff from an investment depends on market conditions. Illustrate what is the criterion of realism value.
Test to determine if there is a significant negative relationship between the independent and dependent variable at a = .05 and .01
A manufacturer produces and sells chilled, ready-to-eat pasta salad in round lots of 50 serving units each. These items have a very limited shelf life; therefore, if items are made but not sold, they have no value.
The expense ratio of a mutual fund measures the percentage of the fund's assets used to pay for annual administrative overhead. Funds with higher ratios spend more of the fund's return to operate the fund.
At the .01 significance level, can we conclude that there is more variation in the selling prices of the oceanfront homes?
A study is made by an auto insurance company to determine if there is a relationship between the driver's age and the number of automobile accident claims submitted during a one-year period. From a sample of 300 claims, the following information w..
Does this result support original claim, or is population percentage considerably less than 45%. Use alpha=.05 for level of significance.
Find the value of k that makes f(x; y) a valid probability distribution.
When an experiment is conducted, one variable is manipulated to see the impact on another variable -- that's why experiments address causation.
Classify as independent or dependent samples: The average price of gasoline at ten local stations, and the average price of gasoline at ten stations in another state.
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