Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please look at the pictures A market research firm used a sample of individuals to rate the purchase potential of a particular product before and

Please look at the picturesimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

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 a = 0.05 and the following data to test the hypothesis and comment on the value of the commercial. Purchase Rating Individual After Before 1 6 2 6 4 3 7 4 4 3 5 3 7 6 9 8 7 7 5 8 6 6 State the null and alternative hypotheses. (Use = mean rating after - mean rating before.) O Ho: Md > 0 Ha: Hd So Ho: Md 0 Ha: Hd = 0 HO: Hd So Ha: Hd > 0 | Ho: Md = 0 Ha: g 0 Ho: Hd 0 Ha: Hd = 0 Calculate the value of the test statistic. (Round your answer to three decimal places.) 1.357 X Calculate the p-value. (Round your answer to four decimal places.) p-value = 0.108 x A travel association reported the domestic airfare (in dollars) for business travel for the current year and the previous year. Below is a sample of 12 flights with their domestic airfares shown for both years. Current Previous Year Year 345 315 526 451 420 450 216 206 285 263 405 432 635 585 710 650 605 545 517 547 570 496 610 580 (a) Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. O Ho: Md 20 Ha: Hd 0 Ho: Md 0 Ho: Md = 0 Ha: d=0 Ho: Hd > 0 Ha: Hd 0 Ho: Hd = 0 Ha: Hd #0 Ho: Md so Ha: Hd = 0 Calculate the test statistic. (Round your answer to three decimal places.) Calculate the p-value. (Round your answer to four decimal places.) p-value = What is your conclusion? O Reject Ho. We can conclude that there is a significant difference between the population mean scores for the math test and the writing test. O Reject Ho. We cannot conclude that there is a significant difference between the population mean scores for the math test and the writing test. O Do not reject Ho. We cannot conclude that there is a significant difference between the population mean scores for the math test and the writing test. O Do not reject Ho. We can conclude that there is a significant difference between the population mean scores for the math test and the writing test. (b) What is the point estimate of the difference between the mean scores for the two tests? (Use math score - writing score.) What are the estimates of the population mean scores for the two tests? Math Writing Which test reports the higher mean score? The math test reports a ---Select--- mean score than the writing test. 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 a = 0.05 and the following data to test the hypothesis and comment on the value of the commercial. Purchase Rating Individual After Before 1 6 2 6 4 3 7 4 4 3 5 3 7 6 9 8 7 7 5 8 6 6 State the null and alternative hypotheses. (Use = mean rating after - mean rating before.) O Ho: Md > 0 Ha: Hd So Ho: Md 0 Ha: Hd = 0 HO: Hd So Ha: Hd > 0 | Ho: Md = 0 Ha: g 0 Ho: Hd 0 Ha: Hd = 0 Calculate the value of the test statistic. (Round your answer to three decimal places.) 1.357 X Calculate the p-value. (Round your answer to four decimal places.) p-value = 0.108 x A travel association reported the domestic airfare (in dollars) for business travel for the current year and the previous year. Below is a sample of 12 flights with their domestic airfares shown for both years. Current Previous Year Year 345 315 526 451 420 450 216 206 285 263 405 432 635 585 710 650 605 545 517 547 570 496 610 580 (a) Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. O Ho: Md 20 Ha: Hd 0 Ho: Md 0 Ho: Md = 0 Ha: d=0 Ho: Hd > 0 Ha: Hd 0 Ho: Hd = 0 Ha: Hd #0 Ho: Md so Ha: Hd = 0 Calculate the test statistic. (Round your answer to three decimal places.) Calculate the p-value. (Round your answer to four decimal places.) p-value = What is your conclusion? O Reject Ho. We can conclude that there is a significant difference between the population mean scores for the math test and the writing test. O Reject Ho. We cannot conclude that there is a significant difference between the population mean scores for the math test and the writing test. O Do not reject Ho. We cannot conclude that there is a significant difference between the population mean scores for the math test and the writing test. O Do not reject Ho. We can conclude that there is a significant difference between the population mean scores for the math test and the writing test. (b) What is the point estimate of the difference between the mean scores for the two tests? (Use math score - writing score.) What are the estimates of the population mean scores for the two tests? Math Writing Which test reports the higher mean score? The math test reports a ---Select--- mean score than the writing test

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Multinational Financial Management

Authors: Alan C. Shapiro

7th Edition

0471395307, 9780471395300

More Books

Students also viewed these Finance questions

Question

What impediments deal with regulators?

Answered: 1 week ago

Question

What are their performance levels?

Answered: 1 week ago