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Kaplan Gb513 unit 3 assignment




Question;Make sure to use the GB513 Unit 3 Assignment Template (found in your online course) tosubmit your answers.Question 1A group of investors wants to develop a chain of fast-food restaurants. In determining potential costsfor each facility, they must consider, among other expenses, the average monthly electric bill. Theydecide to sample some fast-food restaurants currently operating to estimate the monthly cost ofelectricity. They want to be 90% confident of their results and want the error of the interval estimate tobe no more than $100. They estimate that such bills range from $600 to $2,500. How large a sampleshould they take?Question 2Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is$3.16. You believe that the figure is higher in your area of the country. You decide to test this claimfor your part of the United States by randomly calling gasoline stations. Your random survey of 25stations produces the following prices (all in $). Assume gasoline prices for a region are normallydistributed. Do the data you obtained provide enough evidence to reject the claim? Use a 1% level ofsignificance.3.27 3.29 3.16 3.20 3.373.20 3.23 3.19 3.20 3.243.16 3.07 3.27 3.09 3.353.15 3.23 3.14 3.05 3.353.21 3.14 3.14 3.07 3.10Question 3Where do CFOs get their money news? According to Robert Half International, 47% get their moneynews from newspapers, 15% get it from communication/colleagues, 12% get it from television, 11%from the Internet, 9% from magazines, 5% from radio, and 1% do not know. Suppose a researcherwants to test these results. She randomly samples 67 CFOs and finds that 40 of them get theirmoney news from newspapers. Does the test show enough evidence to reject the findings of RobertHalf International? Use a =.05.Unit 3 [GB513: Business Analytics]Question 4To answer this question, use the Data Analysis Toolpack in Excel and select ?t-Test: Two-SampleAssuming Equal Variances? from the list of available tools. Explain your answer (how did you decide ifmen spend more) and include the output table. Some studies have shown that in the United States,men spend more than women buying gifts and cards on Valentine?s Day. Suppose a researcherwants to test this hypothesis by randomly sampling nine men and 10 women with comparabledemographic characteristics from various large cities across the United States to be in a study. Eachstudy participant is asked to keep a log beginning one month before Valentine?s Day and record allpurchases made for Valentine?s Day during that one-month period. The resulting data are shownbelow. Use these data and a 1% level of significance to test to determine if, on average, men actuallydo spend significantly more than women on Valentine?s Day. Assume that such spending is normallydistributed in the population and that the population variances are equal.Men Women107.48 125.98143.61 45.5390.19 56.35125.53 80.6270.79 46.3783.00 44.34129.63 75.21154.22 68.4893.80 85.84126.11


Paper#62070 | Written in 18-Jul-2015

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