Reference no: EM131087095
Econ 310, Spring 2014- Week 11:
Problem 1 - A fortune cookie writer calculated the mean and standard deviation from a sample of 51. They are x¯ = 120 and s = 15.
1. Estimate the population mean with 95 percent confidence interval.
2. 90 percent.
3. 80 percent.
4. What is the effect of decreasing the confidence level?
Problem 2 - A citrus fruit dryer randomly sampled 10 observations and found x = 103 and s = 17.
1. Is there sufficient evidence at the 10 percent significance level to conclude that the population mean is less than 110?
2. Repeat Part 1 assuming that you know that the population standard deviation is σ = 17.
3. Are the conclusions different?
Problem 3- A vise president in charges of sales for a large corporation claims that salespeople are averaging no more than 15 sales contacts per week. (He would like to increase this figure.) Based on 36 sample, the mean and variance are 17 and 9, respectively. If he or she wishes to test H0: µ = 15 against H1: µ = 16, please find the type II error β in this test.
Problem 4- A company produces machined engine parts that are supposed to have diameter variance no larger than 0.0002 (diameters measured in inches). A random sample of 10 parts gives a sample variance of 0.0003.
1. Test, at the 5% level, H0: σ2 = 0.0002 against H1: σ2 > 0.0002.
2. Please construct 90% confidence interval for σ2.
|
Observations on tensile strength of synthetic fabric specime
: The following numbers are observations on tensile strength of synthetic fabric specimens selected from a production process at equally spaced time intervals.
|
|
Find the armature current
: Find the armature current.
|
|
Rejecting opportunities strategically
: In this SLP, you are given two scenarios that require you to reject opportunities using written communication. These scenarios are a continuation of your job search, begun in SLP 1. In your submissions, you are expected to apply the concepts cover..
|
|
The number of scratches on the surface
: The number of scratches on the surface of each of 24 rectangular metal plates is determined, yielding the following data: 8, 1, 7, 5, 2, 0, 2, 3, 4, 3, 1, 2, 5, 7, 3, 4, 6, 5, 2, 4, 0, 10, 2, 6. Construct an appropriate control chart, and comment.
|
|
Estimate the population mean
: A fortune cookie writer calculated the mean and standard deviation from a sample of 51. They are x¯ = 120 and s = 15. Estimate the population mean with 95 percent confidence interval
|
|
Good decision on promotion effectiveness
: Which Promotion is the best promotion for General Mills and which is the best for Safeway? Explain why? Based on what metrics? In the ideal world, what other data would you want to make a good decision on promotion effectiveness?
|
|
A maximum and the corresponding value of aoql
: a. Calculate AOQ for p = .01, .02,..., .10. What does this suggest about the value of p for which AOQ is a maximum and the corresponding AOQL?
|
|
Self-fulfilling prophecy effects
: Discuss how stereotyping, attribution, and self-fulfilling prophecy effects influence the perceptual process. Share a personal experience. The response should be at least 200 words in length.
|
|
Type of shared liability rules
: Please explain who is liable on the contract to purchase purchase 100 gallons of milk from Jim (e.g., Nora, Henry, both). If you believe both Nora and Henry might be liable, please describe the type of shared liability rules applicable to them.
|