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- 3 0 The margin of error for a 95% interval estimate for the population slope parameter Is: I: 1.033 343 c 0.925 344 d 0.786 3'45 34.7 a -10.211 348 b 43.190 349 c -8.271 350 d 4.444 351 352 353 a 2.169 35'4- b 2.603 355 c 3.123 d 3.748 A B C D E F G H K L M N O P Q R S 315 24 The model predicts that when raising the price by $1, sales would change by $_ thousand. 316 a -11.113 317 b -10.002 318 c -9.002 319 d -8.101 320 321 25 The predicted sales for a price of $6.00 per burger is $ thousand. 322 a 83.207 323 b 79.047 324 C 75.095 325 d 71.340 326 327 26 Given that E(y -y)? = 1572.444 828 the sample data show that fraction of variations is sales is explained by price. 329 0.508 330 0.432 331 0.367 332 d 0.312 333 334 27 The regression result shows the observed sales deviate from the predicted sales, on average, by $ thousand. 335 a 7.373 336 b 6.267 337 5.327 338 d 4.528m m m m at +1- Ui-FA-(a-'rJI'D'C: '4 m a m m m in ac: a: h-l't'l Regardless how you answered the previous question, which of the following statements is correct? If the mean age is in fact less than 45 and the hypothesis test leads you to conclude that it is greater than 45, then you have committed a Type II error. If the mean age is In fact greater than 45 and the hypothesis test leads you to conclude that it Is a last 45, then you have committed a Type II error. If the mean age is in fact less than 45 and the hypothesis test leads you to conclude that it is greater than 45, then you have committed a Type I error. If the mean age is In fact greater than 45 and the hypothesis test leads you to conclude that it Is less than 45, then you have committed a Type I error. You are reading a report that contains a hypothesis test you are interested in The writer of the report writes that the p-value for the test you are interested in is 0.091, but does not tell you the value of the test statistic. From this information you can: Reject the hypothesis at a Probability of Type I error = 0.10, but not reject at a Probability of Type I error = 0.05 Not reject the hypothesis at a Probability of Type I error = 0.1 0, and not reject at a Probability of Type I error = 0.05 Reject the hypothesis at a Probability of Type I error = 0.10, and reject at a Probability of Type I error = 0.05 You cannot decide based on this limited information You need to know the value of the test statistic. A B C D E F G H K L M N P Q R S T 197 198 16 You run a bank and want to estimate the bank's average number of customers per day (the population is all the 199 days you are open for business in a year). You take a random sample and record the numbers of customers on 200 those days. The sample data is shown below. 201 187 131 180 167 213 172 181 142 202 203 180 166 147 153 147 161 178 203 172 157 196 106 159 201 101 133 204 89 152 127 141 149 142 135 131 205 151 99 179 204 130 176 172 194 206 152 167 166 134 174 163 159 150 207 160 110 176 190 184 181 128 215 208 209 The 95% confidence interval for the bank's average number of customers per day is 210 a 147 171 211 b 151 167 212 154 164 213 156 162 214 215 17 As the manager of the bank in the previous question, you want the 95% interval estimate to capture the 216 population mean customers per day within $5 customers. Using a planning value of & = 25, how many days 217 should you include in the sample? 218 a 112 219 105 220 97 221 d 88' . 2 2 The national obesity statistics Indicates that 44% of adults In the United States are obese. In a random sample of n = 950 adults in Indiana, the proportion who were obese was 1! = 0.459. Does the sample provide significant evidence that the obesity rate In Indiana Is grater than the national rate? The P-value for the this test is . a 0.033 Reject Ha. Conclude the proportion of adults In Indiana who are obese is greater than the national proportion. b 0.046 Reject Ha. Conclude the proportion of adults In Indiana who are obese is greater than the national proportion. c 0.1 1') [Jo not reject u. Do not conclude the proportion of adults in Indiana who are obese is greater than the national proportion. d 0.1 51 [Jo not reject HE. Do not conclude the proportion of adults In Indiana who are obese Is greater than the national proportion. ' ' - . r I. . -. - S 1 To determine the Impact of variations In price on sales the t of Big Bob's Burger Barn sets different ' .. prices in Its burger joints In 75 stores located in different cities 3 Using the sales and price data, a simple regression is run with sales [in thousands of dollars) as the depenth 284 variable and price [In dollars) as the Independent variable 2 S 5 Use the following calculations and the accompanying regression summary output to answer questions 23:33]. E 2 7 zxy = 32903.44 )7 = 5.5312 :58 2x3 = 2444.551 ,7 = 77.5773 289 n = 75 290 291 DEPENDENT VARIABLE= SALE 292 Regrem Samoa 293 Multiple R A B C D E F G H K L M N P Q R S 291 DEPENDENT VARIABLE = SALES 292 Regression Statistics 293 Multiple R 294 R Square 295 Adjusted R Square 0.4237 296 Standard Error 297 Observations 75 298 299 ANOVA 300 df SS MS F Stat P-value 301 Regression 55.415691 1.55E-10 302 Residual 303 Total 3643.8515 304 305 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 306 Intercept 6.2133 19.9094 3.198E-31 111.3198 136.0859 307 PRICE 1.55E-10 808 309 23 The numerator of the formula to find the slope coefficient in the regression equation is 310 -179.453 311 b -186.631 312 C -194.096 313 d -201.860B C D E F G H K L M N 0 P R S 222 223 18 You work for a charitable organization and you want to estimate the average age of the people who donate to 224 your organization. You obtain the following random sample of age data. 225 226 51 56 52 54 55 54 43 44 47 52 227 60 27 50 36 51 44 59 55 43 23 228 51 49 56 55 53 56 39 40 33 34 229 33 56 50 33 41 55 39 54 38 52 230 58 53 59 52 45 43 45 47 50 52 231 26 39 51 43 41 27 63 58 42 65 232 32 49 46 40 48 50 36 39 73 35 233 56 47 44 36 54 43 46 31 63 39 234 51 32 44 52 40 29 46 50 34 54 235 236 The interval estimate with a 95% level of confidence is 237 42.6 50.1 238 44.3 48.4 239 C 45.2 47.4 240 d 45.7 46.9 241 242 19 In the previous question you want to test the hypothesis, at the 5 percent level of significance, that the average 243 age is greater than 45. Compute the probability value for the test. 244 a 0.097 Do not reject the null hypothesis and do not conclude the mean age is greater than 45. 245 b 0.097 Reject the null hypothesis and conclude the mean age is greater than 45. 246 0.039 Do not reject the null hypothesis and do not conclude the mean age is greater than 45. 247 d 0.039 Reject the null hypothesis and conclude the mean age is greater than 45