2000 (31452) Final Exam Question 1 of 15 This test: 41 point(s) possible This question: 3 point(s) possible Submit test K A magazine reported that at the top 50 business schools in a region, students studied an average of 18.7 hours. Set up a hypothesis test to try to prove that the mean number of hours studied at your school is different from the reported 18.7 hour benchmark. Complete parts (a) through (c) below. a. State the null and alternative hypotheses. Choose the correct answer below. O A. Ho: B = 18.7 O B. Ho: H = 18.7 H1 : B* 18.7 O C. Ho: & # 18.7 OD. Ho: @ = 18.7 H1: H # 18.7 H1 : B = 18.7 H1 : a # 18.7 O E. Ho: B# 18.7 OF. HO: H # 18.7 O G. Ho: H # 18.7 H1 : B = 18.7 OH. Ho: X = 18.7 H1: X = 18.7 H1 : H = 18.7 H1: X # 18.7 Ol. Ho: a # 18.7 O J. Ho: X# 18.7 OK. Ho: Q = 18.7 OL. Ho: H = 18.7 H1: a = 18.7 H1: X = 18.7 H1: B # 18.7 H1 : X # 18.7 b. What is a Type I error for your test? A. Concluding that the mean number of hours studied at your school is not different from the reported 18.7 hour benchmark when in fact it is different O B. Concluding that the mean number of hours studied at your school is different from the reported 18.7 hour benchmark when in fact it is not different O C. Concluding that the mean number of hours studied at your school is different from the reported 18.7 hour benchmark when in fact it is different c. What is a Type II error for your test? O A. Concluding that the mean number of hours studied at your school is not different from the reported 18.7 hour benchmark when in fact it is not different O B. Concluding that the mean number of hours studied at your school is different from the reported 18.7 hour benchmark when in fact it is not different O C. Concluding that the mean number of hours studied at your school is not different from the reported 18.7 hour benchmark when in fact it is different Time Remaining: 02:58:25 Next0 3 4 ' ( 1 52) Final Exam Question2of15 Thistest:4'i pointis)possiblo This question: 3 point(s) possible ['63 Sme\" 105:" Fitting a straight line to a set 0! date yields the following predlction line. Complete (a) through (c) below. : A Y|I1O - 0.4x| a. interpret the meaning of the Y-lntercept, b0. Choose the correct answer below. 0 A. The Yintercept. b0 = 10. lmpiles that for each increase of 1 unit in X, the value of Y is expected to increase by 10 units. C) B. The Y~lntercept, b0 = 10. implies that the average value of Y 15 10. O c. The Y-lntercept. b0 = 10. implies that when the value of X is 0. the mean value oiY is 10. O D. The Y-lntercept. b0 = - 0.4. implies that when the value of X is 0. the mean value of Y Is - 0.4. b. Interpret the meaning of the slope, b1. Choose the correct answer below. 0 A. The slope, b1 =10, implies that for each increase of 1 unit in X, the value of Y is expected to increase by 10 units. 0 B. The slope. b1 = 0.4. implies that for each increase ol1 unit in X, the value of Y is expected to increase by 0.4 units. 0 C. The slope. h1 = 0.4. implies that for each increase of 1 unit In X, the value of Y is estimated to decrease by 0.4 units. 0 D. The slope. b1 = -0.4, implies that the average value on is -0.4. c. Predict the mean value of Y for X = 7. Y, = E! (Type an integer or a decimal.) 11rne Remaining: 02585 lestion 3 of 15 This test: 41 point(s) possible This question: 3 point(s) possible Submit test A magazine used the summated rating of 10 restaurants to predict the cost of a restaurant meal. For that data, SSR = 130,858.53 and SST = 142,729.42. Complete parts (a) through (c). a. Determine the coefficient of determination, r, and interpret its meaning. 2 =(Round to four decimal places as needed.) Interpret the meaning of It means that % of the variation in the cost of a meal be explained by the variation in summated ratings. (Round to two decimal places as needed.) b. Determine the standard error of the estimate. Syx =(Round to four decimal places as needed.) c. How useful do you think this regression model is for predicting the cost of a meal? A. It is not very useful for predicting the cost of a meal because although the coefficient of determination is close to 1, the standard error of the estimate is fairly small. O B. It is very useful for predicting the cost of a meal because the coefficient of determination is close to 1 and the standard error of the estimate is fairly small. O C. It is very useful for predicting the cost of a meal because the coefficient of determination is close to 1. The standard error of the estimate does not indicate whether a regression model is useful. D. It is not very useful for predicting the cost of a meal because the coefficient of determination is close to 0 and the standard error of the estimate is fairly large. Time Remaining: 02:58:09 Next