Business Statistic

Business Statistic1.Use the information below to answer the question.The following table provides data on a sample of customers who visited a local restaurant. The restaurant owner believes that the average profit per customer exceeds $25.36.73 35.5025.92 38.3641.65 25.5018.78 19.7833.14 22.2220.85 26.2322.13 32.3328.46 34.1534.72 24.2124.20 28.9521.84 19.7420.75Which of the following is the critical value using a level of significance of 0.05? (Points : 1)1.717-1.7171.7139-2.0739Question 2.2. The null hypothesis ________. (Points : 1)describes an existing theory or belief that is accepted as correct in the presence of contradictory datadescribes an existing theory or belief that is accepted as correct in the absence of contradictory datais based on new information provided by sample datais based on new information provided by population dataQuestion 3.3. A Type I error occurs when ________. (Points : 1)the null hypothesis is actually false, but the hypothesis test incorrectly fails to reject itthe null hypothesis is actually true, and the hypothesis test correctly fails to reject itthe null hypothesis is actually false, and the hypothesis test correctly reaches this conclusionthe null hypothesis is actually true, but the hypothesis test incorrectly rejects itQuestion 4.4. The alternative hypothesis is denoted by ________. (Points : 1)HNH0H1HAlQuestion 5.5. The probability of making a Type I error is generally denoted by ________. (Points : 1)aß?µQuestion 6.6. The alternative hypothesis ________. (Points : 1)describes an existing theory or belief that is accepted as correct in the absence of contradictory data.is based on new information provided by population data.is based on new information provided by sample data.is not deemed to be an important part of inferential statistics.Question 7.7.Use the information below to answer the question.The following table provides data on a sample of customers who visited a local restaurant. The restaurant owner believes that the average profit per customer exceeds $25.36.73 35.5025.92 38.3641.65 25.5018.78 19.7833.14 22.2220.85 26.2322.13 32.3328.46 34.1534.72 24.2124.20 28.9521.84 19.7420.75Which of the following is the correct conclusion? (Points : 1)The null hypothesis that the average profit per customer exceeds $25 cannot be rejected.The null hypothesis that the average profit per customer does not exceed $25 is rejected.The null hypothesis that the average profit per customer does not exceed $25 cannot be rejected.The null hypothesis that the average profit per customer exceeds $25 is rejected.Question 8.8. A helpful analogy of hypothesis testing might be the concept of ________. (Points : 1)the U.S. legal system-innocent until proven guiltybetter safe than sorry.the theory of relativitythe central limit theoremQuestion 9.9. In statistical terminology, educational level is an example of a ________. (Points : 1)continuous variableresidualfactordependent variableQuestion 10.10.Use the below information to answer the question.A company wishes to test whether the proportion of female managers is the same as the proportion of male managers. The following table provides data for a sample of employees.Females MalesNumber of managers 18 23Sample size 45 75Compute the 99% confidence interval estimate of the difference between the two proportions. [Hint: Use PHStat] (Points : 1)(0.139, -0.326)(0.084, -0.270)(-0.084, 0.270)(-0.139, 0.326)Question 11.11.Use the below information to answer the question.A company wishes to test whether the proportion of female managers is the same as the proportion of male managers. The following table provides data for a sample of employees.Females MalesNumber of managers 18 23Sample size 45 75Which of the following is the conclusion? (Points : 1)We reject H0 that the proportion of female managers is the same as the proportion of male managers.We should not reject H0 that the proportion of female managers is not the same as the proportion of male managers.We reject H0 that the proportion of female managers is not the same as the proportion of male managers.We should not reject H0 that the proportion of female managers is the same as the proportion of male managers.Question 12.12. Another term for p-value is ________. (Points : 1)degrees of freedomrandom effectprobability density functionobserved significance levelQuestion 13.13. In most practical applications, the population standard deviation will not be known but it is estimated from the ________. (Points : 1)populationsampletest statistict-distributionQuestion 14.14.Use the below information to answer the following question.A company wishes to test whether the proportion of female managers is the same as the proportion of male managers. The following table provides data for a sample of employees.Females MalesNumber of managers 18 23Sample size 45 75Formulate the null and the alternative hypotheses to determine if the proportion of female managers is the same as the proportion of male managers. (Points : 1)H0: pfemales – pmales ? 0H1: pfemales – pmales = 0H0: pfemales – pmales = 0H1: pfemales – pmales > 0H0: pfemales – pmales = 0H1: pfemales – pmales ? 0H0: pfemales – pmales = 0H1: pfemales – pmales < 0Question 15.15. To determine if there was a statistically significant difference in the means of two independent groups, which statistical tool would one be most likely to employ to assess the significance of any observed difference? (Points : 1)paired samples t-testchi-square test for independenceLevene’s test for homogeneity of variancesindependent samples t-testQuestion 16.16. Hypothesis testing involves drawing inferences about two contrasting ________ relating to the value of a population parameter. (Points : 1)theoremsdata setsassumptionspropositionsQuestion 17.17.Use the below information to answer the question.A company wishes to test whether the proportion of female managers is the same as the proportion of male managers. The following table provides data for a sample of employees.Females MalesNumber of managers 18 23Sample size 45 75Which of the following is the test statistic? [Hint: Use PHStat] (Points : 1)1.96-1.04-1.961.04Question 18.18. The power of the test represents the ________. (Points : 1)probability of correctly failing to reject the null hypothesis when it is indeed trueprobability of incorrectly rejecting the null hypothesis when it is actually trueprobability of incorrectly failing to reject the null hypothesis when it is actually falseprobability of correctly rejecting the null hypothesis when it is indeed falseQuestion 19.19. The t-Test Statistic has a t distribution with ________ degrees of freedom. (Points : 1)nn + 1n – 2n – 1Question 20.20. The power of the test has a value of ________. (Points : 1)1 – a1 + ß1 – ßa – ß

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