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1. A financial planner wants to compare the yield of income- and growth-oriented mutual funds. Fifty thousand dollars is invested in each of a sample of 35 income-oriented and 40 growth-oriented funds. The mean increase for a two-year period for the income funds is $1100 with a standard deviation of $45. For the growth‑oriented funds the mean increase is $1090 with a standard deviation of $55. At the 0.01 significance level is there a difference in the mean yield of the two funds?
a. State the null and alternate hypotheses.
H0:H1:
b. State the decision rule.
c. Compute the value of the test statistic.
d. Compute the p-value.
e. What is your decision regarding the null hypothesis?
Recent medical research demonstrated there is a strong (r=.60) correlation between the excessive weight and incidences of breast cancer. How can we interpret this statement?
The winning team's score in 13 high school basketball games was recorded. If the sample mean is 54.3 points and the sample standard deviation is 11.0 points, find the 98% confidence interval of the true mean.
Assume the probability that you will make a sale on any given telephone call is 0.11. Find the probability that you make your first sale on the fifth call, make your sale on the first, second, or third call, and do not make a sale the first three ..
Explain the effect outliers can have on the analysis of the center of this data set. Based on the box-plot and histogram you created for problem 1, do there appear to be any outliers?
Find a 96% confidence interval for the true percentage of all households that have central air conditioning. Write a sentence that interprets this interval.
What is the 99% confidence interval for the true proportion of all e-mail subscribers that opened the e-mail within 24 hours of receiving it?
The probability distribution for the possible results of an experiment is given, Determine the mean of the distribution.
Find out the decision strategy company must follow, expected value of strategy, and maximum amount the company must pay market research firm for survey results.
Nancy believes that the average running time of movies is equal to 140 minutes. A sample of 4 movies was taken and the following running times were obtained. Assume the population of the running times is normally distributed.
What is the difference between a point estimate and an interval estimate? How would you calculate a confidence interval with a z test?
Describe your answer to a person who has never had a course in statistics.
The budgeting process for a Midwestern college resulted in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. Since the actual expenses are unknown, the following respective probabilities are assigned: .3, .2, .25..
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