HW_12.doc - QMST 2333 Homework#12 1 Fairfield Automotive is the local dealership selling Honda automobiles It recently stated in an advertisement that

HW_12.doc - QMST 2333 Homework#12 1 Fairfield Automotive is...

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QMST 2333 Homework #12 1. Fairfield Automotive is the local dealership selling Honda automobiles. It recently stated in an advertisement that Honda owners averages 85,000 with a standard deviation of 10,000 miles before trading in or selling their Hondas. To test this, an independent agency selected a simple random sample of 80 Honda owners who have either traded or sold their Hondas and determined the number of miles on the car when the owner parted with the car. If the sample mean is 86,200 miles, what conclusion should be reached about the claim at 90% confidence level? Ho:_____________ Ha:_____________ Decision Rule: _______________________ Test Statistics: _______________________ Decision: _____________________ Interpretation: __________________ Page 1 of 6
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2. The National Club Association does periodic studies on issues important to its membership. The 2015 Executive Summary of the Club Managers Association of America reported that the average country club initiation fee was $31,912. Suppose a random sample taken in 2016 of 12 country clubs has an average imitation fee of $30,175 with a standard deviation of $4,165. Based on the sample information, can you conclude at the α=0.05 level of significance that the average 2016 country club initiation fees are lower than the 2015 fees? Ho:_____________ Ha:_____________ Test Statistics: _______________________ Decision Rule: _______________________ Decision: _____________________ Interpretation: ___________ 3. A recent random sample of employees nationwide that have a 401(k) retirement plan found that 18% of them had borrowed against it in the last year. A random sample of 100 employees from a
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