Reference no: EM131008405
1. P-value. Have harsher penalties and ad campaigns increased seat-belt use among drivers and passengers? Observations of commuter traffic have failed to find evidence of a significant change compared with three years ago. Explain what the study's P-value of 0.17 means in this context.
2. Another P-value. A company developing scanners to search for hidden weapons at airports has concluded that a new device is significantly better than the current scanner. The company made this decision based on a P-value of 0.03. Explain the meaning of the P-value in this context.
3. Ad campaign. An information technology analyst believes that they are losing customers on their website who find the checkout and purchase system too compli- cated. She adds a one-click feature to the website, to make it easier but finds that only about 10% of the customers are using it. She decides to launch an ad awareness campaign to tell customers about the new feature in the hope of increasing the percentage. She doesn't see much of a differ- ence, so she hires a consultant to help her. The consultant selects a random sample of recent purchases, tests the hypothesis that the ads produced no change against the alternative that the percent who use the one-click feature is now greater than 10%, and finds a P-value of 0.22. Which conclusion is appropriate? Explain.
a) There's a 22% chance that the ads worked.
b) There's a 78% chance that the ads worked.
c) There's a 22% chance that the null hypothesis is true.
d) There's a 22% chance that natural sampling variation could produce poll results like these if the use of the oneclick feature has increased.
e) There's a 22% chance that natural sampling variation could produce poll results like these if there's really no change in website use.
|
Contemporary business environment
: Evaluate the utility and relevance of any ONE of the operations management topics to the contemporary business environment
|
|
Determine the mean crack size
: The size y (in millimetres) of a crack in a Pontiac Trans Am's front sub-frame weld is described by a random variable X with the following PDF: Sketch the PDF and CDF. Determine the mean crack size
|
|
Product effectiveness
: A pharmaceutical company's old antacid formula provided relief for 70% of the people who used it. The company tests a new formula to see if it is better and gets a P-value of 0.27. Is it reasonable to conclude that the new formula and the old one ..
|
|
Problem regarding the mutual funds
: A mutual fund manager claims that at least 70% of the stocks she selects will increase in price over the next year. We examined a sample of 200 of her selections over the past three years. Our P-value turns out to be 0.03. Test an appropriate hypo..
|
|
Observations of commuter traffic
: Have harsher penalties and ad campaigns increased seat-belt use among drivers and passengers? Observations of commuter traffic have failed to find evidence of a significant change compared with three years ago. Explain what the study's P-value of ..
|
|
Is an investment in treasury bills always classified
: Is an investment in Treasury bills always classified as a cash equivalent? Explain.
|
|
Problem regarding the house sales
: The realty company in Exercise 21b looks at a recent sample of houses that have sold. On testing the null hypothesis that 50% of the houses take more than three months to sell against the hypothesis that more than 50% of the houses take more than ..
|
|
Construct a cumulative relative frequency plot
: If the pacemaker must be replaced as soon as the ?rst electrical malfunction occurs, approximately what proportion required replacement between 1 and 2 years after implantation?
|
|
Describe an exception to this generalization
: Describe an exception to this generalization. What is the essential characteristic of the transaction that qualifies as an exception?
|