Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Refer to given Exercise. For each situation, define a type I and a type II error in the appropriate context. Consider the costs of such errors and discuss the implications.
Exercise State the null and alternative hypotheses in the following situations by defining the parameters used. Also, state any assumptions that you need to make to conduct the test:
(a) The Postal Service wishes to prove that the mean delivery time for packages is less than 5 days.
(b) A financial institution believes that it has an average loan processing time of less than 10 days.
(c) A marketing firm believes that the average contract for a customer exceeds $50,000.
(d) A Web-order company wishes to test if it has improved its efficiency of operations by reducing its average response time.
(e) A manufacturer of consumer durables believes that over 70% of its customers are satisfied with the product.
Verified Expert
Writes null and alternate hypothesis for a range of real life situations that require hypothesis testing. It also explains Type I and Type II errors in each case.
When talkin about the efforts your expert gave in the assignment - every bit is 100% current ....Null hypothesis is the hypothesis that we want to prove .....For instance, take b ) - Now The financial institution wants to prove that the loan processing time is less than 5 days...So Null Hypothesis : Loan processing time is less than 5 days; Alternate Hypothesis : Loan processing time is greater than 5 days...........So if the financial institution wants to prove that Loan processing time is less than 5 days then Null hypothesis being less than 5 days is a more perfect answer than what the client is saying.....The confusion in my mind is probably because of the term “Null” in “Null Hypothesis “ ....i think Null means 0 or something.....Null In Null Hypothesis implies that hypothesis which has 0 difference from what is to be claimed or tested.......So null hypothesis of processing time less than 5 days has 0 difference from what the financial institution wants to test .
Team, I am very glad to say that all answers provided, was correct and logically explained-. In each case the answer was exactly the same it should be of what was provided, answers are well explained, i was expecting only the solution but the logical part that was explained was such a great thing to provide. I am very glad in this situation.
MATH1550H: Assignment: Question: A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..
MATH1550H: Assignment: Question: what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?
MATH1550H: Assignment: Question: Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form
MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?
MATH1550H: Assignment: Questions: Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.
Caselet on McDonald’s vs. Burger King - Waiting time
Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.
Problems on Sampling Variability and Standard Error and Confidence Intervals
Estimate the population mean
Conduct a marketing experiment in which students are to taste one of two different brands of soft drink
Find out the probability
LINEAR PROGRAMMING MODELS
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd