1) A real estate sales agency specializes in selling vacation property. Its records indicate that the mean selling time of vacation property is 90 days. However, it believes that because of the recent floodings, the mean selling time is now greater than 90 days. A survey of 100 properties sold recently revealed that the mean selling time was 94 days, with a standard deviation of 24 days.

At the 0.05 significance level, has there been an increase in selling time?

a. What is the decision rule? (Round the final answer to 3 decimal places.)

Reject H₀: 90 and acceptH₁: > 90when the test statistic is (Click to select) greater than less than equal to .

b. What is the value of the test statistic? (Round the final answer to 2 decimal places.)

Value of the test statistic =

c. What is your decision regarding H₀?

2) A shopping centre wants to examine the amount of space required for parking. Studies indicated that 52% of staff and shoppers use public transportation. A survey of 1002 was taken, and 491 responded that they used public transportation.

a. State the null hypothesis and the alternate hypothesis. Round the final answers to 2 decimal places.

H₀: p =

H₁: p

b. State the decision rule for 0.05 significance level. (Negative answer should be indicated by a minus sign. Round the final answers to 2 decimal places.)

Reject H₀ if z > or z < .

c. Compute the value of the test statistic. (Negative answer should be indicated by a minus sign. Round the final answer to 2 decimal places.)

Value of the test statistic

d. At the 0.05 significance level, is it reasonable to conclude that the survey results indicate a change?

(Click to select) Do not reject Reject H₀. There is (Click to select) not enough enough evidence to indicate that the results have changed.

3). The cost of a wedding has skyrocketed in recent years. As a result, many couples are opting to have their weddings in the Caribbean. A Caribbean vacation resort recently advertised that the cost of a Caribbean wedding was less than $10 000. Listed below is the total cost (in $ thousands) for a sample of eight Caribbean weddings:

$9.2

$10.6

$10.1

$9.7

$10.2

$9.2

$9.7

$10.9

a. State the null hypothesis and the alternate hypothesis. (Enter the final answers in thousands of dollars.)

H₀: $

H₁: < $

b. State the decision rule for 0.01 significance level. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.)

Reject H₀ if t < .

c. Compute the value of the test statistic. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.)

Value of the test statistic

d. At the 0.01 significance level, is it reasonable to conclude the mean wedding cost is less than $10 000 as advertised?

(Click to select) Reject Do not reject H₀. There is (Click to select) enough not enough evidence to conclude that the cost is less than $10 000.

4). The Quick Change Oil Company has a number of outlets. The numbers of oil changes at the Oak Street outlet in the past 20 days are as follows:

84	72	94	99	85	68	91	54	69	79
57	80	83	87	93	85	94	79	52	78

The data are to be organized into a frequency distribution.

a. How many classes would you recommend?

b. What class interval would you suggest? (Round up the final answer to the nearest whole number.)

c. What lower limit would you recommend for the first class?

d. Organize the information into a frequency distribution and determine the relative frequency distribution. (Round the "Relative frequency" answers to 2 decimal places.)

Units	Frequency	Relative frequency
to under
to under
to under
to under
to under
Total

e. Comment on the shape of the distribution. (Enter the intervals in ascending order.)

The largest concentration is in classes______ to under______ and_______ to under______ .

5) The ages of a sample of Canadian tourists flying from Toronto to Hong Kong were: 63, 70, 66, 39, 61, 76, 36, 36, 62, and 68.

a. Compute the range.

Range

b. Compute the mean deviation. (Round the mean deviation to 2 decimal places.)

Mean deviation

c. Compute the standard deviation. (Round the standard deviation to 2 decimal places.)

Standard deviation

d. Using Chebyshev's theorem, at least what percentage of the observations must be within 2.9 standard deviations of the mean? (Round the final answer to the nearest whole number.)

Percent of the observations______ %

e. Using the Empirical Rule, about 95% of the values would occur between what values?(Round the final answers to 2 decimal places.)

Between_____ and _____