Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Reference the screenshot from 1, 2, 3, and 4 part questions. please show work and explain the steps. T L 1. 4. According to the

Reference the screenshot from 1, 2, 3, and 4 part questions. please show work and explain the steps.

image text in transcribed
T L 1. 4. According to the National Association of Realtors, it took an average of three weeks to sell a home in 2017. Data for the sale of 30 randomly selected homes sold in Greece County, Ohio, in 2017 showed a sample mean of 3.6 weeks with a sample standard deviation of 2 weeks. Conduct a hypothesis test to determine whether the number of weeks until a house sold in Greece County differed from the national average in 2017, Use a@ = 0.05 for the level of significance, and state your conclusion. An airline promotion to business travelers is based on the assumption that two-thirds of business travelers use a laptop computer on overnight business trips. a.State the hypotheses that can be used to test the assumption. b. What is the sample proportion from an American Express sponsored survey that found 355 of 546 business travelers use a laptop computer on overnight business trips? . What is the p-value? d. Use a = 0.05. What is your conclusion? Michigan State University's Collegiate Employment Research Institute found that starting salary for recipients of bachelor's degree in business was $50,032 in 2017. The results for a sample of 100 business majors receiving a bachelor's degree in 2018 showed a mean starting salary of $51,276. Population standard deviation is assumed $5200. Conduct a hypothesis test to determine whether the mean starting salary for business majors in 2018 is greater than the mean starting salary in 2017. Use @ = 0.01 as the level of significance. The competitive advantage of some small American factories such as In Tolerance Contract Manufacturing lies in their ability to produce parts with very narrow requirements, or tolerances that are typical in the aerospace industry. Consider a product with specifications that call for a maximum variance in the lengths of the parts of .0004, Suppose the sample variance for 30 parts turns out to be s? = .0005. Use @ = 0.05 to test whether the population variance specification is being violated. |

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

Making Hard Decisions with decision tools

Authors: Robert Clemen, Terence Reilly

3rd edition

538797576, 978-0538797573

More Books

Students also viewed these Mathematics questions