Exhibit 9-9The sales of a grocery store had an average of $8…
Exhibit 9-9The sales of a grocery store had an average of $8,000 per day. The store introduced several advertising campaigns in order to increase sales. To determine whether or not the advertising campaigns have been effective in increasing sales, a sample of 64 days of sales was selected. It was found that the average was $8,300 per day. From past information, it is known that the standard deviation of the population is $1,200.Refer to Exhibit 9-9. The value of the test statistic is
Read DetailsAccording to the United States Census Bureau, the average si…
According to the United States Census Bureau, the average single-family home constructed in 2016 was 2,438 square feet. Carmen wondered if families in her area still want a smaller home in comparison to the average. She randomly selected 45 people and asked what the ideal square footage of a home is for them. From the responses, she calculated the sample mean equals 1,550 square feet with a sample standard deviation of 54 square feet. What are the competing hypotheses?
Read DetailsPeter provided an analysis for the building of a multi-unit…
Peter provided an analysis for the building of a multi-unit retail strip for Corning Construction using the following hypothesis: H0:μ = Do not build the Strip Mall; Build the Strip Mall. Based on his calculations of the area, and the probabilities for growth, he shows the project will be profitable. The client built the strip mall to a profit loss. What type of error would this represent?
Read DetailsExhibit 10-8In order to determine whether or not there is a…
Exhibit 10-8In order to determine whether or not there is a significant difference between the hourly wages of two companies, the following data have been accumulated. Company ACompany BSample size8060Sample mean$16.75$16.25Population standard deviation$1.00$0.95Refer to Exhibit 10-8. The p-value is
Read DetailsBased on the following table, what is the sample regression…
Based on the following table, what is the sample regression equation? Coefficients Standard Error t Stat p-value Intercept 10,789.9253 7,623.4613 1.311 0.1927 Cost 0.1211 0.073 3.917 0.0002 Grad 163.0168 80.9780 2.574 0.0114 Debt 159.0355 110.6640 1.207 0.2300
Read DetailsExhibit 9-4The manager of a grocery store has taken a random…
Exhibit 9-4The manager of a grocery store has taken a random sample of 100 customers. The average length of time it took the customers in the sample to check out was 3.1 minutes with a standard deviation of 0.5 minutes. We want to test to determine whether or not the mean waiting time of all customers is significantly more than 3 minutes.Refer to Exhibit 9-4. The p-value is between
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