preview

Qnt561 One and Two Samples Sets Week 5

Satisfactory Essays

One- and Two-Sample Tests of Hypothesis, Variance, and Chi-squared Analysis Problem Sets
University of Phoenix
Applied Business Research and Statistics
QNT 561
August 5, 2011

Chapter 10

Exercise Question 31: A new weight-watching company, Weight Reducers International, advertises that those who join will lose, on the average, 10 pounds the first two weeks with a standard deviation of 2.8 pounds. A random sample of 50 people who joined the new weight reduction program revealed the mean loss to be 9 pounds. At the .05 level of significance, can we conclude that those joining Weight Reducers on average will lose less than 10 pounds? Determine the p-value

To calculate the test statistics:
Z=(9-10)/(2.8/sqrt(50))= -2.525 …show more content…

He selects a sample of 15 families, some with only a single insured driver, others with several teenage drivers, and pays each family a stipend to contact the two companies and ask for a price quote. To make the data comparable, certain features, such as the deductible amount and limits of liability, are standardized. The sample information is reported below. At the .10 significance level, can we conclude that there is a difference in the amounts quoted?
Geico Mutual Insurance

Family | Progressive Car Insurance | GEICO Mutual Insurance | Becker | 2,090 | 1,610 | Berry | 1,683 | 1,247 | Cobb | 1,402 | 2,327 | Debuck | 1,830 | 1,367 | DuBrul | 930 | 1,461 | Eckroate | 697 | 1,789 | German | 1,741 | 1,621 | Glasson | 1,129 | 1,914 | King | 1,018 | 1,956 | Kucic | 1,881 | 1,772 | Meredith | 1,571 | 1,375 | Obeid | 874 | 1,527 | Price | 1,579 | 1,767 | Phillips | 1,577 | 1,636 | Tresize | 860 | 1,188 |

Chapter 12
Exercise Question 23: A real estate agent in the coastal area of Georgia wants to compare the variation in the selling price of homes on the oceanfront with those one to three blocks from the ocean. A sample of 21 oceanfront homes sold within the last year revealed the standard deviation of the selling process was $45,600. A sample of 18 homes, also sold within the last year, that were one to three blocks from the ocean revealed that the standard deviation was $21,330. As the .01 significance level, can

Get Access