317 exam 3 Spring 2008B

# 317 exam 3 Spring 2008B - Econ 317 Form B Exam 3 Name 1 A...

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Econ 317 Form B Exam 3 Name_______________________ 1. A consumer advocacy group is interested in learning whether there is a difference among the average life of 3 different brands of tire. Samples from the 3 tire brands presented in the following table. Where the numbers are life of tires in 1000 miles. Goodyear Toyo General 48 67 75 66 72 72 64 62 71 70 66 Test to determine if a difference exists in the mean life of the 3 brands of tire. Use α = 0.05. 2. We are interested in estimating the difference between the default rate of adjustable rate mortgages and fixed rate mortgages using a 95% confidence interval of width 0.08. If we have no prior knowledge of the proportions how large should each sample size be? 3. We are interested in investigating the difference between the default rate of adjustable rate mortgages (ARM) and fixed rate mortgages (FRM). To investigate this matter 350 ARM and 220 FRM were randomly selected. It was found that that 33 of the ARM and 28 of FRM were in default

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317 exam 3 Spring 2008B - Econ 317 Form B Exam 3 Name 1 A...

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