Practice8-1Solns

Practice8-1Solns - Solutions to BUAD 310 In-Class Practice...

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- 1 - Solutions to BUAD 310 In-Class Practice for Quiz 2 3/1/10 1. a) Determine the p-value for H 0 : p = 0.5 versus H a : p > 0.5 when n = 225 and ˆ p = 0.55. Soln: 0.0668 4332 . 0 5 . 0 ) 5 . 1 ( 5 . 1 225 / ) 5 . 0 ( 5 . 0 5 . 0 55 . 0 / ) 1 ( ˆ Z P value p n p p p p Z by using the normal table. b) For a test with a significance level of = 0.10, what would you decide? Soln: Since the p-value is less than 0.10, I would reject the null hypothesis. c) What if the alternative hypothesis had been two-sided? Now what is the p-value? Soln: For a two-sided hypothesis, we need to double the probability. So now the p-value is between 0.1 and 0.2. d) What is your decision for the two-sided test? Soln: At this p-value, I would NOT reject the null hypothesis at either the 0.05 or the 0.1 level. 2. Customers of a company were surveyed as to whether they were satisfied with the service they received. A sample of 2,000 customers yielded ˆ p = 0.60 (proportion of customers satisfied with service in the sample.) What is the standard error of the sample proportion of customers satisfied with service? Soln: 011 . 0 2000 ) 4 . 0 ( 6 . 0 ) ˆ 1 ( ˆ ) ˆ ( n p p p SE 3.
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