A pharmaceutical company is testing the effectiveness of a new drug for lowering cholesterol. As part of this trial, they wish to determine whether there is a difference between the effectiveness for women and for men. Using = .05, what is the value the test statistic? Women Men

A field researcher is gathering data on the trunk diameters of mature pine and spruce trees in a certain area. The following are the results of his random sampling. Can he conclude, at the .10 level of significance, that the average trunk diameter of a pine tree is greater than the average diameter of a spruce tree?

Pine trees Spruce trees
Sample size 40 70
Mean trunk diameter (cm) 45 39
Sample variance 100 150

A. The data do not support the claim because the test value 1.29 is greater than 1.28.
B. The data support the claim because the test value 2.78 is greater than 1.28.
C. The data support the claim because the test value 2.78 is greater than 1.64.
D. The data do not support the claim because the test value 1.29 is less than 1.64. Reset Selection

ANSWER: B

Question 3:

A researcher hypothesizes that the variation in the amount of money spent on business dinners is greater than the variation of the amount of money spent on lunches. The variance of nine business dinners was $6.12 and the variance of 12 business lunches was $0.87. What is the test value?

...required to complete four online quizzes individually on Blackboard. The topics covered include Consumer Theory (expected to be covered in lecture 4), Production and Cost (expected to be covered in lecture 5 to 6), Perfect Competition (expected to be covered in lecture 7 to 8) and Monopoly & Market Efficiency (expected to be covered in lecture 9 to 10). In each quiz, there are 10 multiple-choice questions, which are randomly selected from the test bank and assigned to each student. Each student is allowed to attempt each quiz via Blackboard ONCE only and there is no time limit for each test. The four quizzes will be posted on Blackboard on 4 October 2010.
The quiz requires in-depth understanding about the theories and their applications. To answer the questions correctly, you are expected to attend the lectures and read the corresponding chapters in the textbook before you attempt the quiz.
Intended Learning Outcomes to be assessed:
The “Online Quizzes” assess your ability to identify the economic concept(s) relevant to each question, and use it (them) to analyze the economic issue involved.
Grading of the Quiz:
The grading criteria are shown as follows:
|Upon completion of ALL four quizzes before the deadline |3 marks for task completion |
|Correctly answer 50% to 75% of the questions |7...

...1. An article in USA Today stated that ‘Internal surveys paid for by directory assistance providers show that even the most accurate companies give out wrong numbers 15% of the time.” Assume that you are testing such a provider by making 10 requests and also assume that the provider gives the wrong number 15% of the time.
a. Construct a probability distribution to model the situation described above.
It is given the percentages for us and also n=10 so automatically we have to work with Binomal Distribution and in our case we have probability of success is a wrong number.
b. Find the probability of getting exactly one wrong number.
P (1) = 0.347 or approximately 35% is the probability of getting exactly one wrong number.
c. Find the probability of getting at most one wrong number.
P (0) + P (1) = 0.544 or approximately 54% is the probability of getting at most one wrong number
d. Find the expected number of ‘wrong numbers.’
E(X) = Σ x *p(x) = 1.5
The expected number of “wrong numbers” is 1.5 which is a measure of central tendency that is usually labeled as the mean. In other words the “average” number of “wrong numbers” is 1.5.
2. The eating habits of Americans are continuously monitored by social scientists who are watching for changing trends and their effects on such factors as the economy and family life. The accompanying illustration is based on one form USA Today and a survey of adult Americans. It shows that 8% of...

...Other
Eastern Suburbs 81 161 148 39
Inner West & South 69 209 247 53
North Shore 75 148 165 64
2.
Assume that a 1% level of significance is to be used for the test.
3.
1. Calculate the test statistic, reporting your answer correct to three decimal places.Blank 1
4. Use the tables to determine the lower and upper bounds on the p-value for the test.
2. lower boundBlank 2 (if the lower bound is outside the values of the tables, type lt in the box)
5. 3. upper boundBlank 3 (if the upper bound is outside the values of the tables, type gt in the box)
4. Is the null hypothesis rejected for this test? Type yes or no.Blank 4
6. 5. Hence, on the basis of this test, is there a relationship between location and mode of transport? Type yes or no.Blank 5
5 points
Question 2
1. The four major competitors in the computer work-station market are Sun Microsystems (29%), Hewlett-Packard (18.8%), IBM (16%),and Digital Equipment (11.6%) with other manufacturers holding 24.6% of the market. One year later a survey of computer workstations found 106 Sun, 73 HP, 84 IBM, 45 Digital and 90 other. Test at the 10% level of significance whether changes have occurred during the 1-year period.
1. State the critical value for the test. Blank 1
2. Find the value of the test statistic (to 3 dec pl). Blank 2
3. Can we conclude that the proportions have changed during the year? (yes/no)Blank 3
4 points
Question 3
1. Using exponential...

...Statistics 1
Business Statistics
LaSaundra H. – Lancaster
BUS 308 Statistics for Managers
Instructor Nicole Rodieck
3/2/2014
Statistics 2
When we hear about business statistics, when think about the decisions that a manager makes to help make his/her business successful. But do we really know what it takes to run a business on a statistical level? While some may think that businessstatistics is too much work because it entails a detailed decision making process that includes calculations, I feel that without educating yourself on the processes first you wouldn’t know how to imply statistics. This is a tool managers will need in order to run a successful business. In this paper I will review types of statistical elements like: Descriptive, Inferential, hypothesis development and testing and the evaluation of the results. Also I will discuss what I have learned from business statistics.
My description of Descriptive statistics is that they are the numerical elements that make up a data that can refer to an amount of a categorized description of an item such as the percentage that asks the question, “How many or how much does it take to “ and the outcome numerical amount. According to “Dr. Ashram’s Statistics site” “The quantities most commonly used to measure the dispersion of the values about...

...STAT 600 Statistics and Quantitative Analysis
PROJECT: Stock return estimation
The project must be done by 6-15 a.m. October, 16th. You should submit your projects before the class begins. This is a group project. Read the course outline for general guidelines. Good luck!
The project is closely related to Lectures 1-5 of the class.
Today is September 15, 2013 and you have just started your new job with a financial planning firm. In addition to studying for all your license exams, you have been asked to review a portion of a client’s stock portfolio to determine the risk/return profiles of 12 stocks in the portfolio. Unfortunately, your small firm cannot afford the expensive databases that would provide all this information with a few simple keystrokes, but that’s why they hired you. Specifically, you have been asked to determine the monthly average returns and standard deviations for the 12 stocks for the past five years.
The stocks (with their symbols in parentheses) are:
Apple Computer (AAPL) Hershey (HSY)
Archer Daniels Midland (ADM) Motorola (MOT)
Boeing (BA) Procter and Gamble (PG)
Citigroup (C) Sirius XM radio (SIRI)
Caterpilar (CAT) Wal-Mart (WMT)
Deere&Co. (DE)...

...
MBA 501A – [STATISTICS]
ASSIGNMENT 4
INSTRUCTIONS: You are to work independently on this assignment. The total number of points possible is 50. Please note that point allocation varies per question. Use the Help feature in MINITAB 16 to read descriptions for the data sets so that you can make meaningful comments.
[10 pts] 1. Use the data set OPENHOUSE.MTW in the Student14 folder. Perform the Chi
Square test for independence to determine whether style of home and location are are related. Use α = 0.05. Explain your results.
Pearson Chi-Square = 37.159, DF = 3, P-Value = 0.000
Likelihood Ratio Chi-Square = 40.039, DF = 3, P-Value = 0.000
The P value associated with out chi square is 0.00 and the Alpha level is 0.05 so we reject the null hypothesis. The P- value is less than the alpha level. So, we conclude that style of homes and locations are not related.
[10 pts] 2. Use the data set TEMCO.MTW in the Student14 folder. Perform the Chi
Square test for independence to determine whether department and gender are related. Use α = 0.05. Explain your results.
Pearson Chi-Square = 1.005, DF = 3, P-Value = 0.800
Likelihood Ratio Chi-Square = 1.012, DF = 3, P-Value = 0.798
The P-value associated with out chi square is 0.800 and the Alpha level is 0.05 we can see that we are unable to reject the null hypothesis. The P- value is greater than the alpha level. So, we conclude that departments and gender are related..
[30 pts] 3. Use the data set...

...criterion we get the best model: y = -124.382 + 0.296X1 + 0.048X2 + 1.306X3 + 0.5198X4. This model contains all four predictor variables X1, X2, X3 and X4. This model is selected as best model by the MaxR criterion because it has the largest R-Square 0.9629, which is larger than 0.9615(model containing 3 variables), 0.9330(model containing 2 variables) and 0.8047(model containing 1 variable).
Below is a SAS output of the MaxR criterion.
Obviously, the “best” model obtained from MaxR criterion differs from that obtained from Stepwise and Backward Elimination Method. It is not hard to understand this phenomenon: Since for the Stepwise/Backward Elimination method, F-statistic plays an important role in selecting a variable: the F-statistic for a variable to be added must be significant at the SLENTRY level, the F-statistic for a variable to be removed must be significant at the SLSTAY level. While the MaxR method selects variables depending on which variable or variable combination can produce the largest R square. MaxR makes the switch that produces the largest increase in R square.
Appendix |
Code:
data job;
infile "C:\Users\sandra\Desktop\CH09PR10.txt";
input y x1 x2 x3 x4;
run;
proc reg data=job;
model y=x1 x2 x3 x4/selection=stepwise slstay=.10 slentry=.05;
title "Stepwise Selection";
run;
proc reg data=job;
model y=x1 x2 x3 x4/selection=adjrsq;
run;
proc reg data=job;
model y=x1 x2 x3...

...INTRODUCTION
A. Importance of Statistics
Statistical methods have been applied to problems ranging from business to medicine to agriculture. A review of the professional literature in almost any field will substantiate the extent of statistical analysis.
Accounting: Public accounting firms use statistical sampling procedures when conducting audits for their clients.
Economics: Economists use statistical information in making forecasts about the future of the economy or some aspect of it.
Marketing: Electronic point-of-sale scanners at retail checkout counters are used to collect data for a variety of marketing research applications.
Finance: Financial managers have routine contact with information in numerical form. Financial forecasts, break-even analyses, and investment decisions under uncertainty are but part of their activities.
Production: A variety of statistical quality control charts are used to monitor the output of a production process.
Statistics
the collection, organization, presentation, analysis, or interpretation of numerical data, especially as a branch of mathematics in which deductions are made on the assumption that the relationship between a sufficient sample of numerical data are characteristic of those between all such data.
it is a science which deals with the collection, organization, presentation, analysis, and interpretation of data.
B. Fields of Statistics
Descriptive...