QNT 561 Week 4

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QNT 561 Week 4 Weekly Learning Assessments

Chapter 10 Exercise 2
[The following information applies to the questions displayed
below.]
A sample of 36 observations is selected from a normal
population. The sample mean is 12, and the population
standard deviation is 3. Conduct the following test of
hypothesis using the 0.01 significance level
H0: 10
H1: > 10
1. Award: 10 out of 10.00 points
a. Is this a one- or two-tailed test?
b. What is the decision rule?
c. What is the value of the test statistic?
d. What is your decision regarding H0?
e. What is the p-value?

Chapter 10 Exercise 10
Given the following hypotheses:
H0 : = 400
H1 : 400
A random sample of 12 observations is selected from a normal
population. The sample mean was 407 and the sample
standard deviation 6. Using the .01 significance level:
a. State the decision rule. (Negative amount should be
indicated by a minus sign. Round your answers to 3 decimal
places.)
b. Compute the value of the test statistic. (Round your answer
to 3 decimal places.)
c. What is your decision regarding the null hypothesis?
Chapter 10 Exercise 12
The management of White Industries is considering a new
method of assembling its golf cart. The present method
requires 42.3 minutes, on the average, to assemble a cart. The
mean assembly time for a random sample of 24 carts, using the
new method, was 40.6 minutes, and the standard deviation of
the sample was 2.7 minutes. Using the .10 level of significance,
can we conclude that the assembly time using the new method
is faster?
a. What is the decision rule? (Negative amount should be
indicated by a minus sign. Round your answer to 3 decimal
places.)
b. Compute the value of the test statistic. (Negative amount
should be indicated by a minus sign. Round your answer to 3
decimal places.)
c. What is your decision regarding H0?
Chapter 10 Exercise 16
Given the following hypotheses:
H0 : = 100
H1 : 100

A random sample of six resulted in the following values: 118,

105, 112, 119, 105, and 111. Assume a normal population.
a. Using the .05 significance level, determine the decision rule?
(Negative amounts should be indicated by a minus sign. Round
your answers to 3 decimal places.)
b. Compute the value of the test statistic. (Round your answer
to 2 decimal places.)
c-1. What is your decision regarding the H0?
c-2. Can we conclude the mean is different from 100?
d. Estimate the p-value.
Chapter 11 Exercise 2
A sample of 65 observations is selected from one population
with a population standard deviation of 0.75. The sample mean
is 2.67. A sample of 50 observations is selected from a second
population with a population standard deviation of 0.66. The
sample mean is 2.59. Conduct the following test of hypothesis
using the .08 significance level.
H0 : 1 2
H1 : 1 > 2
a. This a -tailed test.
b. State the decision rule. (Negative values should be indicated
by a minus sign. Round your answer to 2 decimal places.)
c. Compute the value of the test statistic. (Round your answer
to 2 decimal places.)
d. What is your decision regarding H0?
e. What is the p-value? (Round your answer to 4 decimal
places.)
Chapter 11 Exercise 8
The null and alternate hypotheses are:
A random sample of 15 observations from the first population
revealed a sample mean of 350 and a sample standard
deviation of 12. A random sample of 17 observations from the
second population revealed a sample mean of 342 and a
sample standard deviation of 15.
At the .10 significance level, is there a difference in the
population means?

a. This is a -tailed test.

b. The decision rule is to reject if (Negative amounts should be
indicated by a minus sign. Round your answers to 3 decimal
places.)
c. The test statistic is (Round your answer to 3 decimal places.)
d. What is your decision regarding?
e. The p-value is between and .
Chapter 11 Exercise 14
The null and alternate hypotheses are:
H0: 1 2
H1: 1 > 2
A random sample of 20 items from the first population showed
a mean of 100 and a standard deviation of 15. A sample of 16
items for the second
population showed a mean of 94 and a standard deviation of 8.
Use the .05 significant level.
a. Find the degrees of freedom for unequal variance test.
(Round down your answer to the nearest whole number.)
b. State the decision rule for .05 significance level. (Round your
answer to 3 decimal places.)
c. Compute the value of the test statistic. (Round your answer
to 3 decimal places.)
d. What is your decision regarding the null hypothesis? Use
the .05 significance level.
Chapter 12 Exercise 8
The following are six observations collected from treatment 1,
four observations collected from treatment 2, and five
observations collected from treatment 3. Test the hypothesis at
the 0.05 significance level that the treatment means are equal.
Treatment1
9
7
11

Treatment 2
13
20
14

Treatment 3
10
9
15

9
12
10

13

14
15

a. State the null and the alternate hypothesis.

Ho :
H1 : Treatment means are all the same.
b. What is the decision rule? (Round your answer to 2 decimal
places.)
c. Compute SST, SSE, and SS total. (Round your answers to 2
decimal places.)
d. Complete the ANOVA table. (Round SS, MS and F values to 2
decimal places.)
e. State your decision regarding the null hypothesis.

Chapter 12 Exercise 14
A stock analyst wants to determine whether there is a
difference in the mean rate of return for three types of stock:
utility, retail, and banking stocks. The following output is
obtained:
a. Using the .05 level of significance, is there a difference in the
mean rate of return among the three types of stock?
b. Can the analyst conclude there is a difference between the
mean rates of return for utility and retail stocks? For utility and
banking stocks? For banking and retail stocks? Explain.
Chapter 13 Exercise 16
Mr. James Mc Whinney, president of Daniel-James Financial
Services, believes there is a relationship between the number of
client contacts and the dollar amount of sales. To document this
assertion, Mr. Mc Whinney gathered the following sample
information. The X column indicates the number of client
contacts last month, and the Y column shows the value of sales
($ thousands) last month for each client sampled.

Number
Number of
Contacts,
Contacts,
X
X

of

Sales
Sales
($
thousands),
($ thousands),
Y
Y
14

24
23

30

12

14
48

90

20

28
50

85

16

30
55

120

46

80
50

110

a. Determine the regression equation. (Negative amounts

should be indicated by a minus sign. Do not round intermediate
calculations. Round final answers to 2 decimal places.)
b. Determine the estimated sales if 40 contacts are made.(Do
not round intermediate calculations. Round final answers to 2
decimal places.)
Chapter 13 Exercise 18
We are studying mutual bond funds for the purpose of investing
in several funds. For this particular study, we want to focus on
the assets of a fund and its five-year performance. The question
is: Can the five-year rate of return be estimated based on the
assets of the fund? Nine mutual funds were selected at random,
and their assets and rates of return are shown below.
Assets
Return
Assets
Return
Fund
($
millions)
(%)
Fund
($ millions)
(%)
AARP High Quality Bond
$622.20
10.8
MFS Bond
A
$494.50
11.6

Babson Bond L
Income
158.3
Compass Capital
Fixed Income
Price

160.4
9.5
275.7

11.3

Nichols

11.4

T. Rowe
Short-

term
681
8.2
Galaxy Bond Retail
433.2
Income B
241.3
6.8
Keystone
Custodian
B-1
9.2

9.1

Thompson
437.9

b-1. Compute the coefficient of correlation. (Round your answer

to 3 decimal places. Negative amount should be indicated by a
minus sign.)
b-2. Compute the coefficient of determination. (Round your
answer to 3 decimal places.)
c. Give a description of the degree of association between the
variables.
d. Determine the regression equation. Use assets as the
independent variable. (Round your answers to 4 decimal
places. Negative amounts should be indicated by a minus sign.)
e. For a fund with $400.0 million in sales, determine the fiveyear rate of return (in percent). (Round your answer to 4
decimal places.)

Chapter 13 Exercise 30
On the first statistics exam, the coefficient of determination
between the hours studied and the grade earned was 80%. The
standard error of estimate was 10. There were 20 students in the
class. Develop an ANOVA table for the regression analysis of
hours studied as a predictor of the grade earned on the first
statistics exam.
Source
Regression
Error
Total

DF

SS

MS

Chapter 13 Exercise 6
The owner of Maumee Ford-Mercury-Volvo wants to study
the relationship between the age of a car and its selling
price. Listed below is a random sample of 12 used cars sold
at the dealership during the last year.
Car
Age (years)
Selling Price ($000)
1
7
2
8
3
9
4
10
5
11
6
12

9
8
7
11
11
10
12
12
8
6
7
6

Selling

Car

Age (years)

Price ($000)
8.1
7.6
6.0
8.0
3.6
8.0
4.0
6.0
5.0
8.6
10.0
8.0

a. If we want to estimate selling price on the basis of the age of

the car, which variable is the dependent variable and which is
the independent variable?
b-1. Determine the correlation coefficient. (Negative amounts
should be indicated by a minus sign. Round your answers to 3
decimal places.)
b-2. Determine the coefficient of determination. (Round your
answer to 3 decimal places.)
c. Interpret the correlation coefficient. Does it surprise you that
the correlation coefficient is negative? (Round your answer to
nearest whole number.)
Chapter 13 Exercise 12
The Student Government Association at Middle Carolina
University wanted to demonstrate the relationship between
the number of beers a student drinks and his or her blood
alcohol content (BAC). A random sample of 18 students

participated in a study in which each participating student

was randomly assigned a number of 12-ounce cans of beer
to drink. Thirty minutes after they consumed their assigned
number of beers, a member of the local sheriffs office
measured their blood alcohol content. The sample
information is reported below.
Student
Beers
BAC
Student
Beers
BAC
1
6
0.1
10
3
0.07
2
7
0.09
11
3
0.05
3
7
0.09
12
7
0.08
4
4
0.1
13
1
0.04
5
5
0.1
14
4
0.07
6
3
0.07
15
2
0.06
7
3
0.1
16
7
0.12
8
6
0.12
17
2
0.05
9
6
0.09
18
1
0.02
Use a statistical software package to answer the following
questions.
a-1. Choose a scatter diagram that best fits the
b. Fill in the blanks below. (Round your answers to 3 decimal
places.)
c. Determine the coefficient of correlation and coefficient of
determination. (Round your answers to 3 decimal places.)
c-1. State the decision rule for .01 significance level: H0: 0;
H1: > 0. (Round your answer to 3 decimal places.)
c-2. Compute the value of the test statistic. (Round your answer
to 2 decimal places.)
c-3. What is the p-value? (Hint: use your analysis software)
(Round p-value to 4 decimal places.)

c-4. At the .01 significance level, is it reasonable to conclude

that there is a positive relationship in the population between
the number of beers consumed and the BAC?

Chapter 13 Exercise 14
The following sample observations were randomly selected.
a. Determine the regression equation. (Negative amounts
should be indicated by a minus sign. Round your answers to
3 decimal places.)
b. Determine the value of when X is 7. (Round your answer to 3
decimal places.)
Chapter 13 Exercise 22
The owner of Maumee Ford-Mercury-Volvo wants to study
the relationship between the age of a car and its selling
price. Listed below is a random sample of 12 used cars sold
at the dealership during the last year.
Car
Age (years)
Selling Price ($000)
Car
Age (years)
Selling Price ($000)
1
9
8.1
7
8
7.6
2
7
6
8
11
8
3
11
3.6
9
10
8
4
12
10
12
5
8
11
6
6
7
12
6
The regression equation is, the sample
standard error of the slope is 0.23. Use

4
6
5
8.6
10
8
size is 12, and the
the .05 significance

level. Can we conclude that the slope of the regression line is

less than zero?
Chapter 13 Exercise 26
The owner of Maumee Ford-Mercury-Volvo wants to study
the relationship between the age of a car and its selling
price. Listed below is a random sample of 12 used cars sold
at the dealership during the last year.
Car
Age (years)
Selling Price ($000)
1
9
8.1
2
7
6.0
3
11
3.6
4
12
4.0
5
8
5.0
6
7
10.0
7
8
7.6
8
11
8.0
9
10
8.0
10
12
6.0
11
6
8.6
12
6
8.0
a. Determine the standard error of estimate. (Round your
answer to 3 decimal places.)
b. Determine the coefficient of determination. (Round your
answer to 3 decimal places.)
c. Interpret the coefficient of determination. (Round your
answer to the nearest whole number.)
Chapter 14 Exercise 2
Thompson Photo Works purchased several new, highly
sophisticated processing machines. The production department
needed some guidance
with respect to qualifications needed by an operator. Is age a
factor? Is the length of service as an operator (in years)
important? In order to explore further the factors needed to
estimate performance on the new processing machines, four
variables were listed:
X1 = Length of time an employee was in the industry
X2 = Mechanical aptitude test score

X3 = Prior on-the-job rating

X4 = Age
Performance on the new machine is designated y.
Thirty employees were selected at random. Data were
collected for each, and their performances on the new
machines were recorded. A few results are:
Performance
Length
of
Mechanical
Prior
on
New
Time
in
Aptitude
Onthe-Job
Machine,
Industry,
Score,
Performance,
Age,
Name
Y
X1
X2
X3
X4
Mike
Miraglia
112
12
312
121
52
Sue
Trythall
113
2
380
123
27
The equation is:
= 11.6 + 0.4X1 + 0.286X2 + 0.112X3 + 0.002X4
a. What is this equation called?
b. How many dependent and independent variables are there?
c. What is the number 0.286 called?
d. As age increases by one year, how much does estimated
performance on the new machine increase? (Round your
answer to 3 decimal places.)
e. Carl Knox applied for a job at Photo Works. He has been in
the business for 6 years and scored 280 on the mechanical
aptitude test. Carls prior on-the-job performance rating is 97,
and he is 35 years old. Estimate Carls performance on the new
machine. (Round your answer to 3 decimal places.)

Chapter 14 Exercise 6
Consider the ANOVA table that follows.
Analysis
of
Variance Source
DF
SS
MS
Regression
5
3710
12.89
Residual
Error
46
2647.38 57.55
Total
51
6357.38

F
742

a-1. Determine the standard error of estimate. (Round your

answer to 2 decimal places.)
a-2. About 95% of the residuals will be between what two
values? (Round your answers to 2 decimal places.)
b-1. Determine the coefficient of multiple determination.
(Round your answer to 3 decimal places.)
b-2. Determine the percentage variation for the independent
variables. (Round your answer to 1 decimal place. Omit the "%"
sign in your response.)
c. Determine the coefficient of multiple determination, adjusted
for the degrees of freedom. (Round your answer to 3 decimal
places.)
Chapter 14 Exercise 8
The following regression output was obtained from a study
of architectural firms. The dependent variable is the total
amount of fees in millions of dollars.
Predictor
Co eff
SE Co eff
t
p-value
Constant
7.987
2.967
2.69
0.01
X1
0.122
0.031
3.92
0
X2
1.120
0.053
2.270
0.028
X3
0.063
0.039
1.610
0.114

X4
3.69
X5
1.620
0.112

0.523
0.001
0.065

0.142
0.04

Analysis
Variance
Source
SS
value
Regression
3710
0
Residual Error
Total
6357.38

of
DF
MS

742
46

p5
12.89
2647.38 57.55
51

X1 is the number of architects employed by the company.

X2 is the number of engineers employed by the company.
X3 is the number of years involved with health care projects.
X4 is the number of states in which the firm operates.
X5 is the percent of the firms work that is health carerelated.
a. Write out the regression equation. (Round your answers to 3
decimal places. Negative answers should be indicated by a
minus sign.)
b. How large is the sample? How many independent variables
are there?
c-1. State the decision rule for .05 significance level: H0: 1 =
2 = 3 =4 =5 =0; H1: Not all 's are 0. (Round your answer
to 2 decimal places.)
c-2. Compute the value of the F statistic. (Round your answer to
2 decimal places.)
c-3. Can we conclude that the set of regression coefficients
could be different from 0? Use the .05 significance level.
d-1. State the decision rule for .05 significance level. (Round
your answers to 3 decimal places.)
d-2. Compute the value of the test statistic. (Round your
answers to 2 decimal places. Negative answers should be
indicated by a minus sign.)
d-3. Which variable would you consider eliminating?

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