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Children in the United States account directly for $ 36 billion in sales annually. When their indirect influence over product decisions is considered, the total economic spending affected by children in the US is $ 290 billion. It is estimated that by age 10, a child makes an average of more than 5 trips per week to a store. Suppose that you want to prove that children in Los Angeles average more than 5 trips a week to a store. Let represent the population mean number of times children in Los Angeles make trips to a store.
a) State the null and the alternative hypotheses.
b) Explain the meaning of the Type I and Type II errors in the context of this scenario.
c) In Los Angeles, you take a sample of 100 children and find that the mean number of trips to the store is 5.47 and the sample standard deviation of the number of trips to the store is 1.6. At the 0.01 level of significance, is there evidence that the population mean number of trips to the store is greater than 5 per week?
You purchased a $10,000.00 face value commercial bond for $9000.00 on June 1, 2007. The bond pays $500.00 interest at the end of each six months. It is now June 1, 2008. Thus, you have already received two $500.00 payments. The bond matures in fiv..
Q 1 5 20 bags. Q 2 5 15 bags. Q 3 5 27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The price at c is $5 per bag. The price at f is $59 per bag. The price at g is $31 per bag. Apply the formula for the area of ..
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After receiving good reviews for her work at a series of art shows, Jean Rodin considers quitting her job as a management consultant to pursue full time her hobby of sculpting. Jean figures that she can sell $90,000 worth her art each year. She fo..
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Starting with the estimated demand function for Chevrolet: Qc = 100,000 - 100Pc + 2000N + 50I + 30Pf - 1000Pg +3A + 40,000Pi. Assume the average value of the independent variables changes to N= 225 million, I= 12,000, Pf= 10,000, Pg= 100 cents, A=..
Following is a multiple regression in which dependent variable is market value of houses and independent variables are the age of the house and square footage of the house.
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