What decision should the director make about the books

Reference no: EM131258589

1. Confidence Interval:

Compute a 95% confidence interval for the population mean, based on the sample numbers 21, 22, 33, 34, 25, 26, and 139.

Change the last value to 29 and re-compute the confidence interval.

What is an outlier and how does it affect the confidence interval?

2. Confidence Interval:

A sample from a normal population has size = 109 observations, mean = 7.99, and standard deviation = 3.67. What is the 95 percent confidence interval for the population mean? Use the Excel function, =CONFIDENCE.NORM() and the mean to find the two limits.

3. Confidence Limit:

The director of admissions at the University of Maryland, University College is concerned about the high cost of textbooks for the students each semester. A sample of 25 students enrolled in the university indicates that x(bar) = $315.40 and s = $43.20.

a. Using the .10 level of significance, is there evidence that the population mean is above $300?

b. What is your answer if x(bar) = $315.40, s = $75.00, and the level of significance is 0.05?

c. What is your answer if x(bar) = $305.11, s = $43.20, and the level of significance is 0.10?

d. D. Based on the information in part a, what decision should the director make about the books used for the courses if the goal is to keep the cost below $300?

4. t-Test: Paired Two Sample for Means

In week 7 we will study Hypothesis Testing in detail.

For answering the following question, you need a brief idea of what hypothesis testing is.

Please read the following introduction:

https://www.socialresearchmethods.net/kb/hypothes.php

The director for Weight Watchers International wants to determine if the changes in their program results in better weight loss. She selected 25 Weight Watcher members at random and compared their weight 6 months later to weight at the start of the program. Here are the results: (The weight in the column labeled "After" represents their weights six months later and "Before" represents their weight at the start of the six-month period.) The director used .05 as the significance level.

Use Excel to test H0: After - Before ≥ 0 vs. HA: After - Before < 0.

For each paired difference, compute After - Before. In Data Analysis, t-Test: Paired Two Sample for means, select the After data for Variable 1 Range. Note that the critical value output by Data Analysis for this test is always positive. In this problem, the sign of the critical value is negative corresponding to a 1-tailed test with lower reject region and negative lower critical value. State your conclusion.

Person	Before	After
1	176	164
2	192	191
3	185	176
4	177	176
5	196	185
6	178	169
7	196	196
8	181	172
9	158	158
10	201	193
11	191	185
12	193	189
13	176	175
14	212	210
15	177	173
16	183	180
17	210	204
18	198	192
19	157	152
20	213	200
21	161	161
22	177	166
23	210	203
24	192	186
25	178	170

Reference no: EM131258589

Questions Cloud

Create a program which will determine a users age in months : Create a program which will determine a user's age in months, given their age in years. Include meaningful comments in your code. Be sure the user understands I/O via meaningful messages.

Determine the true cycle time with a confidence level : Based on this small sample, what number of observations would be necessary to determine the true cycle time with a 95% confidence level and an accuracy of 5%?

Define the business cycle : Define the business cycle. Identify the phases of the business cycle and explain what is happening to spending, output and income, employment and prices in each phase.

Discuss how consumer buying decisions are heavily influenced : Lamb et al. (2014) explain that the same basic principles of marketing apply to businesses as they do for consumers. However, businesses make buying decisions differently than consumers due to the different characteristics that influence their buy..

What decision should the director make about the books : MGMT 650 Fall 2016 - What is an outlier and how does it affect the confidence interval and what decision should the director make about the books used for the courses if the goal is to keep the cost below $300?

Utility function of an individual : Suppose that the utility function of an individual can be described as U(X,Y) = 4X + 2Y. For this utility function the MRS

What should be the proper number of observations : Is this sample adequate in size for the firm to be 99% confident that the standard time is within {5% of the true value? If not, what should be the proper number of observations?

Important parts of the grant writing process : Create a 1,050- to 1,750-word grant writing guide that incorporates the most important parts of the grant writing process from beginning to end. The guide does not have to be in APA format, but the information you include from outside sources must..

Develop a menu-driven program that inputs two numbers : Develop a menu-driven program that inputs two numbers and at the user's option, finds their sum, difference, product or quotient.

User Account

All Pages