Evidence of a significant difference

Assignment Help Business Economics
Reference no: EM132518568

Two different companies are competing for the same government contract to fix computers. They both produced very similar bids. The person in charge of determining who is awarded the contract is very interested in response times (i.e. how long it takes from when the call is made until when the computer is fixed) and he will differentiate the two companies based on this fact. He obtains both companies records for the past 3 years, randomly selects 50 jobs from each and records the response times. His summary statistics are given in the table.
Mean
SD
Company A
8.0 hrs
1.8 hrs
Company B
6.4 hrs
2.5 hrs

Is there evidence of a significant difference in the response times for the two groups? Justify your answer.

Reference no: EM132518568

Questions Cloud

Find an example of an article : Find an example of an article that that relates two variables. Is the article stating that the two variables are correlated or that they have a causal relations
Pedestrian deaths that were caused by automobile accidents : The table summarizes results from 980 pedestrian deaths that were caused by automobile accidents.
Develop a GUI based game of Rock, Paper, Scissors : Develop a GUI based game of "Rock, Paper, Scissors" in JAVA using good software design and coding principles, practices and methodology
Find present value of tax benefits from depreciation : Estimate the present value of the tax benefits from depreciation.The cost of capital is 9 percent, and the firm's tax rate is 34 percent.
Evidence of a significant difference : Is there evidence of a significant difference in the response times for the two groups? Justify your answer.
Benefits of Use-Case Modeling : How would you describe the difference between logical and physical system models?
What is the difference in two firms required rates of return : Analysts expect the firm to grow at 12 percent per year for the next five years. What is the difference in the two firms' required rates of return?
What were the sweet spots and the hard spots : Research and submit a paper on the Sri Lanka Easter Bombings it should be relevant to the concept and practical application of intelligence-Led Policing.
What is change in price the bond will experience in dollars : You believe that in one year, the yield to maturity will be 6.8 percent. What is the change in price the bond will experience in dollars?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd