1. Consider the following hypothesis test. H0: 1 - 0 Ha: 2 1 - >0 The following results are for two independent samples taken from the two populations. 2 a. What is the value of the test statistic (round to 2 decimals)? b. What is the p-value (round to 4 decimals)? c. alpha= .05, what is your hypothesis testing conclusion p-value H0 2. The average annual cost (including tuition, room, board, books and fees) to attend a public college takes nearly a third of the annual income of a typical family with college-age children (Money, April 2012). At private colleges, the average annual cost is equal to about 60% of the typical family's income. The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Click on the webfile logo to reference the data. a. Compute the sample mean and sample standard deviation for private and public colleges. Round your answers to two decimal places. S1: S2: b. What is the point estimate of the difference between the two population means? Round your answer to one decimal place. Interpret this value in terms of the annual cost of attending private and public colleges. c. Develop a 95% confidence interval of the difference between the annual cost of attending private and pubic colleges. 95% confidence interval, private colleges have a population mean annual cost $ to $ more expensive than public colleges. 3.A market research firm used a sample of individuals to rate the purchase potential of a particular product before and after the individuals saw a new television commercial about the product. The purchase potential ratings were based on a 0 to 10 scale, with higher values indicating a higher purchase potential. The null hypothesis stated that the mean rating "after" would be less than or equal to the mean rating "before." Rejection of this hypothesis would show that the commercial improved the mean purchase potential rating. Use = .05 and the following data to test the hypothesis and comment on the value of the commercial. Purchase Rating Individual After Before Purchase Rating Individual After Before 1 7 5 5 4 5 2 6 4 6 8 8 3 8 8 7 7 6 4 4 3 8 6 7 What are the hypotheses? H0: Ha: Compute d bar (to 3 decimals). Compute sd (to 1 decimal). What is the p-value? What is your decision? 4. Consider the following results for independent samples taken from two populations. Sample 1 Sample 2 n1 = 400 n2= 200 p1= 0.46 p2= 0.36 a. What is the point estimate of the difference between the two population proportions (to 2 decimals)? b. Develop a 90% confidence interval for the difference between the two population proportions (to 4 decimals). c. Develop a 95% confidence interval for the difference between the two population proportions (to 4 decimals). 5. Management proposed the following regression model to predict sales at a fast-food outlet. The following estimated regression equation was developed after 20 outlets were surveyed. a. What is the expected amount of sales attributable to the drive-up window? b. Predict sales for a store with two competitors, a population of 8000 within one mile, and no drive-up window. Estimate sales c. Predict sales for a store with one competitor, a population of 3000 within one mile, and a drive-up window. Estimate sales