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The Atlanta Convention & Visitors Bureau just released a report on the percentage of available hotel rooms in Fulton County that were rented (occupied) in 2003. Looking over the report you note that room occupancy in March of 2003 was 77.6% (total rooms available is 14,800) and in December of 2003 it was 55.5% (of the 14,600 available rooms). Being of an inquisitive mind and wishing to impress your current statistics instructor, you determine to figure if there is a significant difference in the two occupancy rates - that is, must something other than statistical error and normal chance be impacting the number of people staying at local hotels in March over that in December.
Then you show this information to a friend of yours who does market research for an advertising agency. He responds that it is impossible to know without knowing means and standard deviations. But, you still wonder if there is a way.
1. Can it be done? Yes ______ No ______
2. If yes, how would you do it? What statistical method would you use? Name the statistical method (equation) and explain why. Then, set up the Ho and H1.
How can you tell when you should use the ANOVA versus a t-test? What is one problem with using the ANOVA when the t-test is the appropriate data analysis?
A federal bank examiner is interest in estimating the mean outstanding defaulted loans balance of all defaulted loans over the last three years. Calculate a 90% confidence interval for the mean balance of defaulted loans over the past three years.
When the Sharpe Ratio for the market portfolio is 0.5, what risk-free rate Rf is the market anticipate? Draw on a diagram for the Capital Market Line derived from the above data. Make sure to clarify the intercept and the slope.
Recent studies indicate that the typical 50-year-old woman spends $350 per year for personal-care products. The distribution of the amounts spent is positively skewed.
We want to estimate the population mean within 5, with a 99% confidence level. The population std dev is estimated to be 15. How large is the required sample size?
20% of teenagers in a small town say they like reading news online. Suppose you randomly select 7 teenagers from the town and ask them whether or not they enjoy reading news online. Find the probability that at least 3 say they enjoy reading news ..
Researcher expects 12 point treatment effect and plans to use two-tailed hypothesis test with u α = .05. Calculate the power of test if researcher uses a sample of n = 16 individuals.
Using 5% level of significance, is there any difference in proportion of guests who would select the two resorts? What is your conclusion?
The demand for airplane passengers (Y) is a function of a average fare (X1), the fare of the competing airline, and the annual per capital income of the passengers(X3)
Construct a 99% confidence interval for the difference between the true average boot times of the two types of hard drives. Assume the difference will represent (HDD-SSD) and that the population standard deviations are statistically the same.
The coffee/soup machine at the local bus station is supposed to fill cups with 6 ounces of soup. Ten cups of soup are brought with results of a mean of 5.93 ounces and a standard deviation of 0.13 ounces. Construct a 99% confidence interval for th..
Test research hypotheses that there is a difference in level of education between liberals and conservatives, set alpha at .01. Would your decision have been different if alpha were set at .05?
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