mcox w6 - Workshop 6 Group Review Questions 1 Complete six...

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Workshop 6 Group Review Questions 9.69 b.Compute the p-value and interpret its meaning. Interpret the meaning 9.72 Step 1 1. Complete six of the following problems with your team. Note: use Excel whenever pos available for you to ask questions and to assist your peers with their questions: a. Chapter 9: 9.69, and 9.72 through 9.74. b. Chapter 10: 10.28, 10.29, and 10.83. 2. Save your work and submit your team’s answers via Submit Assignments. All work MUS appropriate box to the location cell on the specific worksheet that contains the answer. Rem worksheet for full credit. Late payments of medical claims can add to the cost of health care. An article reported that for one insurance c 85.1% of the claims were paid in full when first submitted. Suppose that the insurance company developed a n payment system in an effort to increase this percentage. A sample of 200 claims processed under this system r 180 of the claims were paid in full when first submittted. a.At the 0.05 level of significance, is there evidence that the proportion of claims processed under this new system is higher than the article reported for the previsou system? A wall Street Journal poll asked respondents if they trusted energy-efficiency ratings on cars and appliances; 5 responded yes and 531 responded no. a.At the 0.05 level of significance, use the six-step critical value approach to hypothesis testing to try to prove that the percentage of people who trust energy-efficiency ratings differ from 50%.
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Step 2 Step 3 Step 4 Step 5 Step 6 b.Use the five step p-value approach. Step 1 Step 2 Step 3 Step 4 Step 5 c.Intepret the results 9.73 One of the biggest issues facing e-retailers is the ability to reduce the proportion of customers who cancel their transactions after they have selected their products. It has been estimated that about 1/2 of prospective custom their transactions after they have selected their products. Suppose a company changed its Web site so that cust could use a single-page checkout process rather than multiple pages. A sample of 500 customers who had sele products were provided with the new checkout. Of these 500 customers, 210 canceled their tranactions after th selected their products.
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