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business
business statistics communicating

Questions and Answers of Business Statistics Communicating

The Washington Post Weekly Edition quoted an Urban Institute study that stated that about 80% of the estimated $200 billion of federal housing subsidies consisted of tax breaks (mainly deductions for
Albertsons was once one of the largest grocery chains in the United States with over 1,100 grocery stores, but in the early 2000s the company began to feel the competitive pinch from companies like
Sherwin-Williams is a major paint manufacturer.Recently, the research and development (R&D)department came out with a new paint product designed to be used in areas that are particularly prone to
The marketing manager for a major retail grocery chain is wondering about the location of the stores’dairy products. She believes that the mean amount spent by customers on dairy products per visit
The management of the Seaside Golf Club regularly monitors the golfers on its course for speed of play.Suppose a random sample of golfers was taken in 2005 and another random sample of golfers was
Descent, Inc., produces a variety of climbing and mountaineering equipment. One of its products is a traditional three-strand climbing rope. An important characteristic of any climbing rope is its
Consider the following two independently chosen samples whose population variances are not equal to each other.Sample 1 Sample 2 12.1 10.5 13.4 9.5 11.7 8.2 10.7 7.8 14.0 11.1a. Using a significance
Given the following null and alternative hypotheses H0: m1 m2 0 HA: m1 m2 0 and the following sample information Sample 1 Sample 2 n1 125 n2 120 s1 31 s2 38 –x 1 130 –x 2
The following statistics were obtained from independent samples from populations that have normal distributions:1 2 ni 41 51 –x i 25.4 33.2 si 5.6 7.4a. Use these statistics to conduct a test of
Given the following null and alternative hypotheses, conduct a hypothesis test using an alpha equal to 0.05.(Note: The population standard deviations are assumed to be known.)H0: m1 m2 HA: m1 m2
Given the following null and alternative hypotheses H0: m1 m2 HA: m1 m2 together with the following sample information Sample 1 Sample 2 n1 14 n2 18 –x 1 565 –x 2 578 s1 28.9 s2
The following null and alternative hypotheses have been stated:H0: m1 m2 0 HA: m1 m2 0 Sample from Population 1 Sample from Population 2 33 29 35 46 43 42 39 39 41 46 44 47 25 33 38 50 43 39
A decision maker wishes to test the following null and alternative hypotheses using an alpha level equal to 0.05:H0: m1 m2 0 HA: m1 m2 0 The population standard deviations are assumed to be
The Federal Reserve reported in its comprehensive Survey of Consumer Finances, released every three years, that the average income of families in the United States declined from 2001 to 2004. This
Platinum Billiards, Inc., based in Jacksonville, Florida, is a retailer of billiard supplies. It stands out among billiard suppliers because of the research it does to assure its products are
The owner of the A.J. Fitness Center is interested in estimating the difference in mean years that female members have been with the club compared with male members. He wishes to develop a 95%
Logston Enterprises operates a variety of businesses in and around the St. Paul, Minnesota, area. Recently, the company was notified by the law firm representing several female employees that a
The Graduate Management Admission Council reported a shift in the job-hunting strategies among second-year masters of business administration (MBA)candidates. Even though their prospective base
A working paper (Mark Aguiar and Erik Hurst,“Measuring Trends in Leisure: The Allocation of Time over Five Decades,” 2006) for the Federal Reserve Bank of Boston concluded that average leisure
Wilson Construction and Concrete Company is known as a very progressive company that is willing to try new ideas to improve its products and service. One of the key factors of importance in concrete
Two companies that manufacture batteries for electronics products have submitted their products to an independent testing agency. The agency tested 200 of each company’s batteries and recorded the
A pet food producer manufactures and then fills 25-pound bags of dog food on two different production lines located in separate cities. In an effort to determine whether differences exist between the
A credit card company operates two customer service centers: one in Boise and one in Richmond. Callers to the service centers dial a single number, and a computer program routs callers to the center
Amax Industries operates two manufacturing facilities that specialize in doing custom manufacturing work for the semiconductor industry. The facility in Denton, Texas, is highly automated, whereas
Two random samples were selected independently from populations having normal distributions. The following statistics were extracted from the samples:x 1 42.3 –x 2 32.4a. If s1 3 and s2 2
Construct a 95% percent confidence interval for the difference between two population means using the following sample data that have been selected from normally distributed populations with
Construct a 95% confidence interval estimate for the difference between two population means based on the following information:Population 1 Population 2 x _ 1 355 x _ 2 320 s1 34 s2 40 n1
Construct a 90% confidence interval estimate for the difference between two population means given the following sample data selected from two normally distributed populations with equal
The following information is based on independent random samples taken from two normally distributed populations having equal variances:nl 24 n2 28 –x 1 130 –x 2 125 s1 19 s2 17.5 Based
The following information is based on independent random samples taken from two normally distributed populations having equal variances:n1 15 n2 13 –x 1 50 –x 2 53 s1 5 s2 6 Based on
TOMRA Systems ASA is a Norwegian company that manufactures reverse vending machines (RVMs). In most cases, RVMs are used in markets that have deposits on beverage containers, offering an efficient
At the annual meeting of the Golf Equipment Manufacturer’s Association, a speaker made the claim that over 30% of all golf clubs being used by nonprofessional United States Golf Association(USGA)
MBNA offers personal and business credit cards, loans, and savings products. It was bought by Bank of America in June 2005. One of the selling points for MBNA was its position relative to the rest of
The Inland Empire Food Store Company has stated in its advertising that the average shopper will save more than $5.00 per week by shopping at Inland stores.A consumer group has decided to test this
The Haines Lumber Company makes plywood for the furniture industry. One product it makes is 3/4-inch oak veneer panels. It is very important that the panels conform to specifications. One
The Wilson Company uses a great deal of water in the process of making industrial milling equipment. To comply with the federal clean water laws, it has a water purification system that all
The AJ Fitness Center has surveyed 1,214 of its customers. Of particular interest is whether over 60% of the customers who express overall service satisfaction with the club (represented by codes 4
The Cell Tone Company sells cellular phones and airtime in several northwestern states. At a recent meeting, the marketing manager stated that the average age of its customers is under 40. This came
Many companies have moved employee retirement plans to ones based on 401(k) savings. In fact, most large mutual fund companies, like Vanguard, offer 401(k) options. However, according to Nancy Trejos
Cisco Systems, Inc., is the leading maker of networking gear that connects computers to the Internet. Company managers are concerned with the productivity of their workers as well as their job
The Lazer Company has a contract to produce a part for Boeing Corporation that must have an average diameter of 6 inches and a standard deviation of 0.10 inch. The Lazer Company has developed the
The personnel manager for a large airline has claimed that, on average, workers are asked to work no more than 3 hours overtime per week. Past studies show the standard deviation in overtime hours
About 74% of Freddie Mac–owned loans were refinanced in the second quarter of 2005 (USA Today, Lifeline, August 3, 2005), resulting in new mortgages carrying loan amounts at least 5% above the
The Sledge Tire and Rubber Company plans to warranty its new mountain bike tire for 12 months.However, before it does this, the company wants to be sure that the mean lifetime of the tires is at
ACNielsen is a New York–based leading global provider of marketing research information services, analytical systems and tools, and professional client service. A recent issue of its magazine (Todd
The makers of Mini-Oats Cereal have an automated packaging machine that can be set at any targeted fill level between 12 and 32 ounces. At the end of every shift (eight hours), 16 boxes are selected
The college of business at a state university has a computer literacy requirement for all graduates.Students must show proficiency with a computer spreadsheet software package and with a
USA Today reports (Darryl Haralson, “It’s All about Overstock.com”) on an ad for Overstock.com, which sells discounted merchandise on its Web site. To evaluate the effectiveness of the ads,
Technological changes in golf equipment have meant people, in particular professional golfers, are able to hit golf balls much farther. Golf Digest reported on a survey conducted involving 300
The Utah State Tax Commission attempts to set up payroll tax–withholding tables such that by the end of the year, an employee’s income tax withholding is about $100 below his actual income tax
Sanchez Electronics sells electronic components for car stereos. It claims that the average life of a component exceeds 4,000 hours. To test this claim, it has selected a random sample of n 12 of
Fairfield Automotive is the local dealership selling Honda automobiles. It recently stated in an advertisement that Honda owners average more than 85,000 miles before trading in or selling their
For each of the following scenarios, indicate which test statistic would be used or which test could not be conducted using the materials from this chapter:a. testing a mean when s is known and the
The Oasis Chemical Company develops and manufactures pharmaceutical drugs for distribution and sale in the United States. The pharmaceutical business can be very lucrative when useful and safe drugs
While conducting a hypothesis test, indicate the effect ona. b when a is decreased while the sample size remains constantb. b when a is held constant and the sample size is increasedc. the power when
In a hypothesis test, indicate the type of statistical error that can be made ifa. The null hypothesis is rejected.b. The null hypothesis is not rejected.c. The null hypothesis is true.d. The null
What is the maximum probability of committing a Type I error called? How is this probability determined?Discuss.
Recall that the power of the test is the probability the null hypothesis is rejected when H0 is false. Explain whether power is definable if the given parameter is the value specified in the null
Examine the test statistic used in testing a population proportion. Why is it impossible to test the hypothesis that the population proportion equals zero using such a test statistic? Try to
Discuss why it is necessary to use an estimate of the standard error for a confidence interval and not for a hypothesis test concerning a population proportion.
Discuss the two types of statistical errors that can occur when a hypothesis is tested. Illustrate what you mean by using a business example for each.
Discuss the issues a decision maker should consider when determining the significance level to use in a hypothesis test.
What is meant by the term critical value in a hypothesis-testing situation? Illustrate what you mean with a business example.
In an article in Business Week (“Living on the Edge at American Apparel”), Dov Chaney, the CEO of American Apparel, indicated that the apparel store industry’s average sales were $1,800/7 (
USA Today reports (Gary Stoller, “Hotel Bill Mistakes Mean Many Pay Too Much”) that George Hansen, CEO of Wichita-based Corporate Lodging Consultants, conducted a recent review of hotel bills
The union negotiations between labor and management at the Stone Container paper mill in Minnesota hit a snag when management asked labor to take a cut in health insurance coverage. As part of its
Runzheimer International, a management consulting firm specializing in transportation reimbursement, released the results of a survey on July 28, 2005. It indicated that it costs more to own a car in
According to the Internet source Smartbrief.com, per capita U. S. beer consumption increased in 2008 after several years of decline. Current per capita is 22 gallons per year. A survey is designed to
According to CNN business partner Careerbuilder.com, the average starting salary for accounting graduates in 2008 was at least $47,413. Suppose that the American Society for Certified Public
Nationwide Mutual Insurance, based in Columbus, Ohio, is one of the largest diversified insurance and financial services organizations in the world, with more than $157 billion in assets. Nationwide
Waiters at Finegold’s Restaurant and Lounge earn most of their income from tips. Each waiter is required to“tip-out” a portion of tips to the table bussers and hostesses. The manager has based
Swift is the holding company for Swift Transportation Co., Inc., a truckload carrier headquartered in Phoenix, Arizona. Swift operates the largest truckload fleet in the United States. Before Swift
According to data from the Environmental Protection Agency, the average daily water consumption for a household of four people in the United States is approximately at least 243 gallons. (Source:
The following hypotheses are to be tested:H0: p 0.35 HA: p 0.35 A random sample of 400 is taken. Using each set of information following, compute the power of the test.a. a 0.01, true p 0.32b. a
The following hypotheses are to be tested:H0: p 0.65 HA: p 0.65 A random sample of 500 is taken. Using each set of information following, compute the power of the test.a. a 0.01, true p
Consider the following hypotheses:H0: m 201 HA: m 201 A sample is to be taken from a population with a mean of 203 and a standard deviation of 3. The hypothesis test is to be conducted using a
Consider the following hypotheses:H0: m 30 HA: m 30 A sample of size 50 is to be taken from a population with a standard deviation of 13. The hypothesis test is to be conducted using a
For each of the following situations, indicate what the general impact on the Type II error probability will be:a. The alpha level is increased.b. The “true” population mean is moved farther from
Solve for beta when the “true” population mean is 103 and the following information is given:H0: m 100 HA: m 100 a 0.05 s 10 n 49
Consider the following hypotheses:H0: m 103 HA: m 103 A sample of size 20 is to be taken from a population with a mean of 100 and a standard deviation of 4.Determine the probability of committing a
You are given the following null and alternative hypotheses:H0: m 500 HA: m 500 a 0.01 Calculate the probability of committing a Type II error when the population mean is 505, the sample size
You are given the following null and alternative hypotheses:H0: m 4,350 HA: m 4,350 a 0.05a. If the true population mean is 4,345, determine the value of beta. Assume the population standard
You are given the following null and alternative hypotheses:H0: m 1.20 HA: m 1.20 a 0.10a. If the true population mean is 1.25, determine the value of beta. Assume the population standard
You are given the following null and alternative hypotheses:H0: m 200 HA: m 200 a 0.10 Calculate the probability of committing a Type II error when the population mean is 197, the sample size
Joseph-Armand Bombardier in the 1930s founded the company that is now known as Seadoo in Canada.His initial invention of the snowmobile in 1937 led the way to what is now a 7,600-employee, worldwide
Cell phones are becoming an integral part of our daily lives. Commissioned by Motorola, a new behavioral study took researchers to nine cities worldwide from New York to London. Using a combination
The Electronic Controls Company (ECCO) is one of the largest makers of backup alarms in the world.Backup alarms are the safety devices that emit a highpitched beeping sound when a truck, forklift, or
According to the Employee Benefit Research Institute(www.ebri.org), 34% of workers between the ages of 35 and 44 owned a 401(k)-type retirement plan in 2002. Suppose a recent survey was conducted by
A study by the Investment Company Institute (ICI) in 2004, which randomly surveyed 3,500 households and drew on information from the IRS, found that 72% of households have conducted at least one IRA
A survey by the Pew Internet & American Life Project found that 21% of workers with an e-mail account at work say they are getting more spam than a year ago.Suppose a large multinational company,
Harris Interactive Inc., the 15th largest market research firm in the world, is a Rochester, New York–based company. One of its surveys indicated that 26% of women have had experience with a Global
A large number of complaints have been received in the past six months regarding airlines losing fliers’ baggage.The airlines claim the problem is nowhere near as great as the newspaper articles
The practice of “phishing,” or using the Internet to pilfer personal information, has become an increasing concern, not only for individual computer users but also for online retailers and
CEO Chris Foreman of Pacific Theaters Exhibition Corp. is taking steps to reverse the decline in movie attendance. Moviegoers’ comfort is one of the issues facing theaters. Pacific Theaters has
An Associated Press article written by Eileen Powell entitled “Credit Card Payments Going Up” described a recent change in credit card policies. Under pressure from federal regulators, credit
Assume that the sports page of your local newspaper reported that 65% of males over the age of 17 in the United States would skip an important event such as a birthday party or an anniversary dinner
A Washington Post–ABC News poll found that 72% of people are concerned about the possibility that their personal records could be stolen over the Internet.If a random sample of 300 college students
Because of the complex nature of the U.S. income tax system, many people have questions for the Internal Revenue Service (IRS). Yet, an article published by the Detroit Free Press entitled
A recent article in The Wall Street Journal entitled “As Identity Theft Moves Online, Crime Rings Mimic Big Business” states that 39% of the consumer scam complaints by American consumers are
A major issue facing many states is whether to legalize casino gambling. Suppose the governor of one state believes that more than 55% of the state’s registered voters would favor some form of

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