EconHM7 - Q uestion#1 T his question is identical to...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Question #1 This question is identical to example #1 on page 45 (slide 26) of your course packet. To determine whether a new steel-belted radial tires lasts longer than an existing model, Firestone designs the following experiment. One tire of each type (an existing model and an old model) were installed on the rear wheels of 20 randomly selected cars. The number of miles driven by each driver, until tires wore out, were recorded and are stored here . What is the relevant point estimate? 4.55 What is the value of the test statistic? 2.817586929 What is the p-value for this test? 0.005496978 Allowing for a 5% chance of a Type I error, what is your conclusion for this test? Reject the null hypothesis and conclude there is not enough evidence to claim that new tires last longer. Reject the null hypothesis and conclude that new tires last longer. Do not reject the null hypothesis and conclude there is not enough
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
evidence to claim that new tires last longer. Do not reject the null hypothesis and conclude that new tires last longer. Now create a 95% confidence interval for the difference in means of the two populations. The lower and upper bounds are 1.170065444 and 7.929934556 respectively. Question #2 This question is the same as example #2 on page 46 (slide 30) of the course packet. In an agricultural experiment, two expensive high-yield varieties of corn are to be tested and yield improvements are to be measured. The experiment is arranged so that each variety is planted in ten pairs of similar plots. Data is collected on yield increases obtained for these two varieties. Plot Variety A Variety B 1 12.6 10.5 2 9.2 8.1 3 6.4 6.2
Background image of page 2
4 9.8 10.1 5 15.3 12.2 6 16.1 14 7 12.3 10.1 8 11.3 13.6 9 12.2 9.8 10 14.1 13.4 Which of the following tests should be used? A paired sample t-test should be used since we have dependent samples. An unequal variance t-test should be used because even though we have independent samples, the sample variances appear to be rather different. A paired sample t-test should be used since we have independent samples. A pooled variance t-test should be used since we have dependent
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 11

EconHM7 - Q uestion#1 T his question is identical to...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online