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With individual lines at the checkouts, a store manager finds that the standard deviation for the waiting times on Monday mornings is 5.2 minutes. After switching to a single waiting line, he finds that for a random sample of 29 customers, the waiting times have a standard deviation of 5.7 minutes. Use a 0.025 significance level to test the claim that with a single line, waiting times vary less than with individual lines.
A random selection of accounting firms from three regions is taken and they are asked to state the starting salary for a new accounting graduate. Do a one-way ANOVA to analyze these data using a 1% level of significance:
How can the binomial distribution be used in a business situation? What type of data would you use and what would you learn from this?
Of those female students, 85% of them will graduate, whereas 90% of males will successfully complete the same programme. If a new TESL student is chosen at random, what is the probability that: They graduate and they are female?
Discuss at least three reasons why these predictions may not be accurate and offer three ways in which you can increase the likelihood of accurately predicting your customers' purchases.
Sample data are reported for 50 employees of small companies, 75 employees of medium companies, and 100 employees of large companies.
Determine the critical region and critical values for z that would be used to test the null hypothesis at the given level of significance, as described in each of the following:
What is the probability that of the last 100 new juvenile delinquents put on probation, 30 or more will commit another crime?
What is the p-value associated with the sample results? What is your conclusion based on the p- value?
A car manufacturer has redesigned the anti-theft device on one of its models to increase the time that it takes for a professional car thief to be able to steal the car.
Explain the logic of what you have done, writing as if you are speaking to someone who has never heard of correlation (but who does understand the mean, deviation scores, and hypothesis testing);
Using the results, describe the effect of an outlier or extreme value on the confidence interval.
What total size sample would be necessary if we wanted to estimate the true proportion to within ±0.08 using 90% confidence?
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