Celebrating valentine day

Assignment Help Macroeconomics
Reference no: EM131097733

Assignments must have a cover page (refer to the course outline).  Please write on one side of the page only and show ALL your work. Answer questions with sentences. Include any printout for a question with the question and clearly label the printout with the question number and part.  Keep three decimal places.

1) AT&T would like to test the hypothesis that the average revenue per retail user for Verizon Wireless customers equals $50. A random sample of 32 Verizon Wireless customers provided an average revenue of $54.70. It is believed that the population standard deviation for the revenue per retail user is $11.00. AT&T would like to set α = 0.05. Use the critical value approach to test this hypothesis.

2) Hallmark would like to test the hypothesis that those celebrating Valentine's Day will spend more than an average of $125 on gifts. A random sample of 18 people celebrating Valentine's Day spent an average of $148.50 with a standard deviation of $34.90. Hallmark would like to set α = 0.01. Use the p-value approach to test this hypothesis.

3) Hotels.com would like to test the hypothesis that the proportion of American travelers in Europe that prefer an American-branded hotel equals 0.42. A random sample of 90 Americans found that 49 preferred American-branded hotels. Hotels.com would like to set α = 0.05. Use the critical value approach to test this hypothesis.

4) A professor would like to test the hypothesis that the average grade for a student taking a 10 am statistics class averages five points higher than the average grade from a student in an 8 am statistics class. The following data shows the sample size and average grades for students in the two class times along with the population standard deviations.

 

10 am

8 am

Sample mean

87.1

81.4

Sample size

32

30

Population standard deviation

3.4

3.2

Define Population 1 is defined as the 10 am class and Population 2 the 8 am class. Construct an 80% confidence interval for the difference in population mean and interpret the results.

5) Traveler's Insurance would like to test the hypothesis that the average number of miles driven per month by a male teenage driver exceeds the average number of miles driven per month by a female teenage driver by more than 50 miles. The following data summarizes the sample statistics for the miles driven per month by each gender. Assume that the population variances are equal.

 

Male

Female

Sample mean

685

580

Sample size

13

16

Sample standard deviation

130

120

Define Population 1 as male drivers and Population 2 as female drivers and use the critical value approach to test this hypothesis with α = 0.05.

6) American Greetings would like to test the hypothesis that the average amount of money spent per person on Mother's Day increased by more than $10 this year when compared to last year. The following data represents the amount of money that the same eight individuals spent on Mother's Day during the past two holidays.

Person

1

2

3

4

5

6

7

8

Last Year

$140

$113

$86

$147

$140

$162

$150

$142

This Year

$133

$110

$156

$170

$160

$166

$183

$154

Define Population 1 as this year and Population 2 as last year and use the p-value approach to test this hypothesis with α = 0.05.

7) John is the manager at the Deerfield Golf Course and would like to test the hypothesis that the average golf score at his course is different from the average golf score at the Pike Creek Golf Course, which is a competitor in the area. The following data represents the golf scores for seven golfers who recently played at both courses.

Golfer

1

2

3

4

5

6

7

Deerfield

85

93

96

83

78

80

80

Pike Creek

88

91

99

94

82

85

91

Define Population 1 as the Deerfield course and Population 2 as the Pike Creek course. Construct a 95% confidence interval for the difference in population mean and interpret the results.

8) The Marseille Water Taxi ferries tourists from the harbor at Marseille, France, to the Frioul Islands in the Mediterranean Sea. The table below shows the number of passengers on the noontime ferry over seven randomly selected days along with the current ambient temperature in degrees Celsius.

Temperature

Passengers

16

15

19

20

22

20

26

22

18

10

24

18

Use the Marseille Water Taxi data to:

A) Describe the regression line that will predict the number of passengers on the noontime ferry based on the ambient temperature.

B) Interpret the slope of the regression equation.

C) Predict number of passengers on the noontime ferry on a day that the ambient temperature is 19 degrees Celsius.

9) The table below shows the number of interceptions thrown during the season by seven randomly selected National Football League teams and the number of games those teams won during the season.

Wins

Interceptions

3

28

6

19

11

16

14

6

10

9

8

25

8

11

Use the NFL team data to calculate:

A) The standard error of the estimate.

B) The 95% confidence interval for the average number of wins for a team that throws 14 interceptions during the season.

10) A manufacturer of flash drives for data storage operates a production facility that runs on three 8-hour shifts per day. The following contingency table shows the number of flash drives that were defective and not defective from each shift.

Shift

Defective

Not Defective

7AM-3PM

7

113

3PM-11PM

10

90

11PM-7AM

4

76

Perform a hypothesis test to determine if the quality of the flash drive production and the production shift are independent variables using α = 0.05.

Reference no: EM131097733

Questions Cloud

Read the call-of-the-question carefully : Brief the facts of the case and assume your boss is seeking your opinions as noted on what facts the Supreme Court of Ohio based its decision and what could the Partners have done differently that would have changed the decision in this case.
Convert the following c-like code : Convert the following C-like code, which calculates the greatest conunon divisor (GCD) of the two 8-bit numbers a and b, into a high-level state machine.
Different esl standards at the appropriate grade level : For this unit plan, you will be creating a 5 day unit plan to support a class of intermediate students at the grade level of your choice. You may manipulate the timing of the unit to fit your needs (e.g. two-hour block schedule unit).
The total revenue and price elasticity at this point : Always Round Tire finds that their demand curve is P = 50 − .02 Q (note: Marginal Revenue has twice the slope as the demand curve). What price and quantity combination will maximize the firm's revenue? Q=1250 P=25 ***What are the total revenue and pr..
Celebrating valentine day : Hallmark would like to test the hypothesis that those celebrating Valentine's Day will spend more than an average of $125 on gifts. A random sample of 18 people celebrating Valentine's Day spent an average of $148.50 with a standard deviation of $..
An entrepreneur needs funds for project : An entrepreneur needs funds for a project. He has funds of his own, but enough to cover the required investment of $100. If the entrepreneur doesn’t misbehave, the project will succeed with probability .9, yielding a gross return of 120 in one year.
Two types of potential borrowers : Suppose there are two types of potential borrowers. Half are Type A borrowers who have projects that require an investment of 1 unit. They have equal probability of returning 3 or 0 gross in one year. First, find the equilibrium interest rates on the..
Find optimal money demand : Use the Baumol-Tobin model to find money demand under the following assumptions. Income is $5000 per month (which can be broken down into 2500 in real income and a price level of 2) paid at the beginning of each month in the form of interest-earning ..
Splitting field for some polynomial : Suppose that F is a field of characteristic 0 and E is the splitting field for some polynomial over F. If Gal(E/F ) is isomorphic to D6, prove that there are exactly three fields L such that E subset L subset F and [E:L] 5 6.

Reviews

Write a Review

 

Macroeconomics Questions & Answers

  Problem regarding the comprehensive marketing plan

This week you will continue your comprehensive marketing plan, researching the SAME company that you researched in previous units. Again, utilizing the CSU Online Library, you will research the various elements of the marketing plan as it relates ..

  Discouraged workers and the economy

A discouraged worker is an individual without a job who has a desire to work; however, the worker has not actively searched for a job within the last six months, because the worker believes that there are no jobs available. Such a worker is not in..

  Graphically representation of isoquant

Graph the isoquant that these calculations imply. Explain in very clear and complete terms why the isoquant has the shape that you observe.

  Economic growth and expected profit in recession

Suppose that the car manufacturer allows the car dealer to return all unsold cars at the end of a recessionary year. What is the car dealer's profit in a growth year and in a recession? What is their expected profit?

  Questions to make decision about a business idea

Use the following questions to make decision about a business idea of your choice. Be sure to write out your answers...to remember your decisions and build on them.

  Firm ability to increase or decrease prices

Students will then apply the elasticity concept to determine how the price elasticity of demand for the firm's goods or services would be categorized, and they will examine what that suggests for the firm's ability to increase or decrease prices.

  Question on international trade

Assume we decline to sell goods to any country that decrease or halted its exports to us. Who would profit and who would lose from such retaliation?

  What is the point of the circular flow model

What is the point of the circular flow model, what are some leakages and injections into the circular flow model, and how are the leakages and injections related to the circular flow?

  Explaimn the assumption of law of diminishingmarginal

Define economics. also explain the use of studyingeconomics as a subject.Q.2. Explaimn the assumption of law of diminishingmarginal utility. also give the exceptions of this law ofdiminishing marginal utility and show the pratical importance ofthis l..

  Strategy for camera shop

Price comparison services on the Internet (as well as shopbots) are a popular way for retailers to advertise their products and a convenient way for consumers to simultaneously obtain price quotes from several firms selling an identical product.

  Calculate the nominal interest rate and after tax expected

Suppose that the Fisher hypothesis holds for an economy that an expected real interest rate of 2 percent. For each of the expected inflation rates of 0, 2, 4, 6, and 8 percent, calculate the nominal interest rate and after tax expected real interest ..

  What inferences should be drawn from this analysis

If FCI raised rents at one complex by $100, what would you expect to happen to the number of units rented? If FCI raised rents at an average apartment building, what would happen to FCI’s total revenues?

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