sp98ex1b - COURSE: MSCI 3710 EXAM 1 Version B SEMESTER:...

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COURSE: MSCI 3710 Print Name: EXAM 1 Signature: Version B S.S.#: SEMESTER: Spring 1998 Seat Number: Note: Whenever question(s) are connected you may be asked to assume a result (given a value) from the previous question but this result may or may not be correct. This is to prevent you from losing points on a second question because you made a mistake on a previous question.
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The next three questions are connected. A manufacturer of potato chips would like to know whether its bag filling machine works correctly at the 20 oz setting. Based on a sample of 40 bags where = 19.9 ozs and s = 1.3 ozs, is there sufficient evidence, at the 0.01 significance level, that their bags are under filled? 1. What are the null hypothesis and alternative hypothesis for this test? A. Ho: µ ≥ 20 Ha: µ < 20 B. Ho: µ ≥ 40 Ha: µ < 40 C. Ho: µ = 20 Ha: µ ≠ 20 D. Ho: µ ≥ 19.9 Ha: µ < 19.9 E. Ho: µ = 19.9 Ha: µ ≠19.9 2. What is the calculated value of the test statistic? A. Z* = − 1.55 B. Z* =− 2.33 C. Z* =− 0.49 D. Z* = 0.53 E. Z* = 1.98 3. What are the decision and conclusion of the test assuming the calculated value of the test statistic is −1.55? A. Fail to reject the null hypothesis, conclude there is insufficient evidence the bags are under filled. B. Reject the null hypothesis, conclude there is evidence the bags are under filled. C. Fail to reject the null hypothesis, conclude there is evidence the bags are under filled. D. Reject the null hypothesis, conclude there is insufficient evidence the bags are under filled. E. Fail to reject the null hypothesis, conclude there is overwhelming evidence the bags are not under filled.
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The next two questions are connected. A manufacturer of jack fruit chips would like to know whether its bag filling machine works correctly at the 12 oz setting. Based on a sample of 16 bags where =12.3 ozs and s = 1.1 ozs, is there sufficient evidence at the 0.05 level that their bags are overfilled or under filled? 4. What is the calculated value of the test statistic? A. t* = −5.02 B. t* = 1.09 C. t* = 3.12 D. t* = 0.21 E. t* = −2.33 5. What is the decision rule for this test? A. Fail to reject Ho if t* > 1.746 B. Reject Ho if t* > 2.602 ∣ ∣ C. Reject Ho if t* ≤ 1.746 ∣ ∣ D. Reject Ho if | t*| > 2.131 E. Fail to reject Ho if t* < 2.262 The next five questions refer to the following information . A real estate broker believes that the average difference between interest rates on 30-year, fixed- rate mortgage loans and 15-year, fixed-rate mortgage loans by mortgage lenders in the Dallas- Fort Worth metroplex is, less than 0.5%. To test her belief, she collected a random sample of 30- year fixed mortgage rates from 10 lending institutions in the area then collected another random
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sp98ex1b - COURSE: MSCI 3710 EXAM 1 Version B SEMESTER:...

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