A survey of American Society of Investors found 30% of individual investors have used a discount broker. In a random sample of nine individuals, what is the probability that: a. Exactly two of the sample individuals have used a discount broker? P(x = 2) Enter answer rounded to 3 or 4 decimal places with 0 to the left of the decimal point. ______ b. None of the 9 individuals have used a discount broker. P(X = 0) Enter answer rounded to 3 or 4 decimal places with a 0 to the left of the decimal point. ________ c. Two or three individuals have used a discount broker. P( 2 <= X <= 3) Enter answer rounded to 3 or 4 decimal places with a 0 to the left of the decimal point. ________ d. What is the mean and standard deviation for this distribution? Enter each answer rounded to 2 decimal places in the order in which the question was asked. ________ ________ Question 2 0 / 25 points A.C. Nielesen Company provides information to organizations advertising on television. Prior research indicates that adult Americans watch an average of 6.0 hours of television per day with a standard deviation of 1.5 hours. Assuming the time distribution is normally distributed: What is the probability that a randomly selected adult Americans watches 5 or more hours of television per day? Enter answer rounded to 3 or 4 decimal places with a 0 to the left of the decimal point. Do not enter answer as a percent. ________ What is the probability that a randomly selected adult Americans watches between 7 and 8 hours (inclusive) of television per day? Enter answer rounded to 3 or 4 decimal places with a 0 to the left of the decimal point. Do not enter answer as a percent. ________ For how many hours per day must an adult American watch television in order to be in the top 5% of all the adult American television watchers? Enter answer rounded to 1 decimal place. ________ In a sample of 25 randomly selected adult Americans what is the probability that the average time for watching television per day will be equal to or exceeds 6.5 hours? Enter answer rounded to 3 decimal places with a 0 to the left of the decimal point. Do not enter answer as a percent. ________ Question 3 0 / 25 points The owner of the Britten's Egg Farm wants to estimate the mean number of eggs produced per chicken. A representative random sample of 20 chickens show they produce an average of 25 eggs per month with a sample standard deviation (s) of 2 eggs per month. The distribution is known to be symmetrical and is close enough to normal to be treated as a normal distribution. Answer the following questions related to the above paragraph and then calculate a 90% confidence interval for the mean number of eggs produced per chicken on the Britten's Egg Farm. What is the point estimate of the mean number of eggs produced per chicken? Enter answer with 0 decimal places (integer). ________ What is the appropriate distribution for calculating a 90% confidence interval? a Uniform distribution b Normal distribution c t distribution d Chi Square distribution Answer this question by entering the appropriate letter. ________ What is the degrees of freedom (dF) for the appropriate distribution. Enter Na if dF is not required by the appropriate distribution. ________ Calculate the margin of error for the 90% confidence interval for the mean amount of eggs laid per month on the Britten's Egg Farm. Enter answer rounded to 1 decimal point. Include a zero to the left of the decimal point if the margin of error is a number between -1 and +1. ________ The 90% conference interval for the mean number eggs produced per month is: Enter the lower and upper limits for the conference interval by entering the lower limit first. Rounded each conference limit to 1 decimal point. ________ ________ Prior to this study the owner of the Britten's Egg Farm Egg Farm believed the mean amount off eggs produced per month on his farm was 30. Does the study support his belief with a 90% confidence? a Yes. The mean amount of eggs produced per month on his farm could be 30 per month because the number 30 is not contained in the confidence interval. b Yes. The mean amount of eggs produced per month on his farm could be 30 per month because the number 30 is contained in the confidence interval. c No. The mean amount of eggs produced per month on his farm is most likely not 30 per month because the number 30 is not contained in the confidence interval. d No. The mean amount of eggs produced per month on his farm is most likely not 30 per month because the number 30 is contained in the confidence interval. e The owner can not comment on the mean amount of eggs produced per month on his farm because the confidence interval is based upon a sample. Enter the correct answer by selecting and entering the appropriate letter. ________ Question 4 0 / 25 points The waiting time for customers at MacBerger Restaurants follows a normal distribution with a population standard deviation of 1 minute. At the Warren Road MacBerger, the quality assurance department sampled 49 customers and found that the mean waiting time was 2.75 minutes. At the .05 significance level, can we conclude that the mean waiting time is less than 3 minutes. The Null Hypothesis is: a The waiting time for customers at MacBerger Restaurants is equal to _______. b The waiting time for customers at MacBerger Restaurants is greater than _______. c The waiting time for customers at MacBerger Restaurants is less than d The waiting time for customers at MacBerger Restaurants is not equal to _______. _______. Enter the correct answer by selecting the appropriate letter and then entering the correct number. Enter number to the same precision as presented in the question. ________ ________ The Alternate Hypothesis is: a The waiting time for customers at MacBerger Restaurants is equal to ______. b The waiting time for customers at MacBerger Restaurants is greater than ______. c The waiting time for customers at MacBerger Restaurants is less than ______. d The waiting time for customers at MacBerger Restaurants is not equal to ______. Enter the correct answer by selecting the appropriate letter and then entering the correct number. Enter number to the same precision as presented in the question. ________ ________ The appropriate distribution is: a b c d Uniform Distribution Normal Distribution t Distribution Chi Square Distribution The Hypothesis test is a: a b c Left tail test Right tail test Two tail test Enter the appropriate letters for answering the questions in the same order in which the questions are asked. ________ ________ Select and enter the letter for the appropriate decision rule. Enter the critical value as a decimal rounded to 2 or 3 places. Decision: a is Ha hypothesis: If the test statistic is equal to or greater than the critical value which _____. b is Ha hypothesis: If the test statistic is equal to or less than the critical value which _____. c Ha hypothesis: If the absolute value of the test statistic is equal to or greater than the critical value which is _____. ________ ________ The numerical value of the test statistic is: Enter answer rounded to 2 decimal places. ________ Hypothesis Test Decision: a Null Hypothesis: Do not reject the null hypothesis. The data does not support the Alternate Hypothesis. b Alternate Hypothesis: Reject the null hypothesis. The data supports the Alternate Hypothesis. c The waiting time for customers at MacBerger Restaurants cannot be determined because the data set is a sample. Enter the correct answer by selecting the appropriate letter. ________ An alternate method for performing the Hypothesis Test would be to calculate a Pvalue based upon the numerical value of the Test Statistic. If the Pvalue is larger than the significance level of the test the appropriate decision, based upon the numerical value of the test statistic, would be the Null Hypothesis. If the Pvalue is less than or equal to the significance level of the test the appropriate decision, based upon the numerical value of the test statistic, would be the Alternate Hypothesis. Based upon the data what is the Pvalue for the Hypothesis Test? Enter answer as a decimal rounded to 2 places with a zero to the left of the decimal point. Do not enter answer as a percent. ________