Exam1Sp02b - COURSE MSCI 3710 Exam 1 Version B Spring 2002...

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COURSE: MSCI 3710 PRINT Name: Exam 1 Signature: Version B Student ID#: Spring 2002 Seat Number: Note: Whenever question(s) are connected you may be asked to assume a result (i.e., given a value as answer to a previous question); but this result (i.e., the given value) need not be the correct response for the previous question. This is done only to prevent you from losing points on a subsequent question because you made a mistake on one. Instructions: n Please PRINT your name, student ID#, and seat number on this exam. Also, put your signature on this exam. a Please PRINT your name, exam-version, and seat number on the Scantron . Also print your name on the backside of your Scantron . a You have 75 minutes to complete this exam. The exam is open book, open notes, and open mind. You may use any type of calculator, but please show all your work on the exam and mark all answers on the scantron. a Many of the questions follow the format of those in Adventures in Business Statistics. The remaining questions are either based on Excel outputs, or use an Adventures-like approach with problems similar to those assigned in the textbook. The chapter numbers given against in questions are only indicative, and you may need to integrate the concepts from other chapters. a Do not detach this exam. When you have completed the exam, please insert the scantron into the exam booklet and return them both to your instructor. a No cheating. a Good luck and we wish you well on the exam.
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Use the paragraph below to answer the next six questions (Kvanli Chapter 8). The Caribbean boasts of inexpensive weddings. From past data, the average cost of a wedding is known to be $7400, with a standard deviation of $1050. To test if the true mean costs have changed, a random sample of 30 current weddings is taken. Their average is $7720. Is there evidence that currently, the true mean cost of wedding differs from the usual $7400? Perform the test at a= 0.05. 1. What are the null hypothesis and alternative hypothesis for this test? A. Ho: a = 7720 Ha: a a7720 B. Ho: a a 7720 Ha: a < 7720 C. Ho: a = 7400 Ha: a a 7400 * D. Ho: a > 7400 Ha: a a 7400 E. Ho: a = 7400 Ha: a <7400
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