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##### Economics Week 3 Assignment

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Question;Please complete problems 2, 4, 6, 8, 10, 12, 14, 16, 18, 20For Exercises 14, answer the questions: (a) Is this a one- or two-tailed test? (b) What is the decisionrule? (c) What is the value of the test statistic? (d) What is your decision regarding H0? (e) What is the pvalue? Interpret it.2. A sample of 36 observations is selected from a normal population. The sample mean is 12, and thepopulation standard deviation is 3. Conduct the following test of hypothesis using the.02 significancelevel.4. A sample of 64 observations is selected from a normal population. The sample mean is 215, and thepopulation standard deviation is 15. Conduct the following test of hypothesis using the.03 significancelevel.For Exercises 58: (a) State the null hypothesis and the alternate hypothesis. (b) State the decision rule.(c) Compute the value of the test statistic. (d) What is your decision regarding H0? (e) What is the pvalue? Interpret it.6. The waiting time for customers at MacBurger Restaurants follows a normal distribution with a meanof 3 minutes and a standard deviation of 1 minute. At the Warren Road MacBurger, the qualityassurance department sampled 50 customers and found that the mean waiting time was 2.75 minutes.At the.05 significance level, can we conclude that the mean waiting time is less than 3 minutes?8. At the time she was hired as a server at the Grumney Family Restaurant, Beth Brigden was told, Youcan average $80 a day in tips. Assume the population of daily tips is normally distributed with astandard deviation of $3.24. Over the first 35 days she was employed at the restaurant, the mean dailyamount of her tips was $84.85. At the.01 significance level, can Ms. Brigden conclude that her daily tipsaverage more than $80?10.Given the following hypothesis:Ho: u=400H1:u does not equal 400A random sample of 12 observations is selected from a normal population. The sample mean was 407and the sample standard deviation 6. Using the.01 significance level:a. State the decision rule.b. Compute the value of the test statistic.c. What is your decision regarding the null hypothesis?12.The management of White Industries is considering a new method of assembling its golf cart. Thepresent method requires 42.3 minutes, on the average, to assemble a cart. The mean assembly time fora random sample of 24 carts, using the new method, was 40.6 minutes, and the standard deviation ofthe sample was 2.7 minutes. Using the.10 level of significance, can we conclude that the assembly timeusing the new method is faster?14.Most air travelers now use e-tickets. Electronic ticketing allows passengers to not worry about a paperticket, and it costs the airline companies less to handle than paper ticketing. However, in recent timesthe airlines have received complaints from passengers regarding their e-tickets, particularly whenconnecting flights and a change of airlines were involved. To investigate the problem, an independentwatchdog agency contacted a random sample of 20 airports and collected information on the number ofcomplaints the airport had with e-tickets for the month of March. The information is reported below.14 14 16 12 12 14 13 16 15 1412 15 15 14 13 13 12 13 10 13At the.05 significance level, can the watchdog agency conclude the mean number of complaints perairport is less than 15 per month?a. What assumption is necessary before conducting a test of hypothesis?b. Plot the number of complaints per airport in a frequency distribution or a dot plot. Is it reasonable toconclude that the population follows a normal distribution?c. Conduct a test of hypothesis and interpret the results.16.Given the following hypothesis:Ho:u = 100H1:u does not equal 100A random sample of six resulted in the following values: 118, 105, 112, 119, 105, and 111. Assume anormal population. Using the.05 significance level, can we conclude the mean is different from 100?a. State the decision rule.b. Compute the value of the test statistic.c. What is your decision regarding the null hypothesis?d. Estimate the p-value.18.The liquid chlorine added to swimming pools to combat algae has a relatively short shelf life before itloses its effectiveness. Records indicate that the mean shelf life of a 5-gallon jug of chlorine is 2,160hours (90 days). As an experiment, Hold longer was added to the chlorine to find whether it wouldincrease the shelf life. A sample of nine jugs of chlorine had these shelf lives (in hours):2,159 2,170 2,180 2,179 2,160 2,167 2,171 2,181 2,185At the.025 level, has Holdlonger increased the shelf life of the chlorine? Estimate the p-value.20. Hugger Polls contends that an agent conducts a mean of 53 in-depth home surveys every week. Astreamlined survey form has been introduced, and Hugger wants to evaluate its effectiveness. Thenumber of in-depth surveys conducted during a week by a random sample of agents is:53 57 50 55 58 54 60 52 59 62 60 60 51 59 56At the.05 level of significance, can we conclude that the mean number of interviews conducted by theagents is more than 53 per week? Estimate the p-value.

Paper#56107 | Written in 18-Jul-2015

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