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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 GradesExcellent 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?
3. An Ohio university wishes to demonstrate that car ownership is detrimental to academic achievement. A random sample of 100 students who do not own cars had a mean GPA of 2.68 with a standard deviation of 0.6, while the same size of sample who own cars had a mean GPA of 2.55 with a standard deviation of 0.7. Can the university justify that the mean GPA for non-car owners is greater than the mean GPA for car owners at a 99% confidence?
History suggests that the average number of hurricanes formed during a year is 6.0 hurricanes. Find the probability of at most three hurricanes being formed during a randomly selected year.
Do the data indicate a significant difference? Test with ∝ = .05.
In 2010, the average age of students at UTC was 22 with a standard deviation of 3.96. In 2013, the average age was 24 with a standard deviation of 4.08. In which year do the ages show a more dispersed distribution? Show your complete work and supp..
A start-up publishing company estimates that the fixed costs of its first major project will be $190,000, the variable cost will be $18, and the selling price per book will be $34.
An insurance company has gathered the following information regarding the number of accidents reported per day over a period of 100 days.
The retail price of 12-pack soda can be characterized as having a normal distribution with a mean of 3.00 dollars and a standard deviation of 0.25. Below what price do you find 30 percent of all 12-packs?
Assuming that these are a random sample of all publicly traded companies, construct a 95% confidence interval for the overall noncompliance proportion.
The mean weight of trucks traveling on the the highway is unknown. A state highway inspector needs an estimated mean. He selects 49 trucks passing the weighing station and gets a mean of 15.8 tons
Can we conclude from this that most workers there earn between $25 and $35 per hour? Is this the right interpretation for the margin of error?
If the true mean for Saturday sales is now $4500, what is the probability of accepting the (false) null hypothesis in (a) above (the probability of not sharing the manager's concern because of lack of evidence)?
The data show that 48 of the doctors picked Brand X. If these data are evaluated using a chi-square test for goodness of fit, what is the expected frequency for Brand X?
Describe how you would develop a random sample from among students.
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