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COURSE:
MSCI 3710
Print Name:
Exam 1 – B
Signature:
Spring 2005
Student ID#:
INSTRUCTIONS:
•
Please print your name and student ID number on this exam.
Also, put your
signature on this exam.
•
On your scantron PRINT your name and exam version.
To better protect your
privacy also print your name on the backside of your scantron.
•
You have
75 minutes
to complete this exam.
The exam is open book, open
notes, and open mind.
You may use any type of hand calculator but please show
all your work on the exam and mark all answers on the scantron.
Usage of cell
phones, digital cameras, PDAs, and other communication devices is strictly
prohibited.
•
Many of the questions follow the format of those in Hawkes Learning Systems
Business Statistics.
The remaining questions are either based on the Excel
assignments or use an HLSBSlike approach with problems nearly identical to
those assigned in the textbook.
•
Please DO NOT pull this exam apart. When you have completed the exam, please
turn your scantron and exam booklet into your instructor, at the front desk.
•
No cheating.
•
Good luck and we wish you well on the exam.
Note: Whenever question(s) are connected you may be asked to assume a result (given a
value) as an answer for the previous question but this result (value) may or may not be
correct.
The procedure is set in place to prevent you from losing points on a subsequent
question because you made a mistake on some previous question/s.
1
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View Full Document Use the information given in the following paragraph to answer first
four
questions.
A potential buyer who is considering purchasing a franchise store believes that the average
weekly revenue is less than $10,000.
He obtains a random sample of weekly revenues from 10
stores and conducts a statistical analysis on the data using Excel, partial results of which are
shown below.
Number of Observations
10
Sample Standard Deviation
748.42
Sample Mean
9132.00
Ho: xxxxxx
Ha: xxxxxx
T*
xxxxxx
P[
T
≤
T*]
0.0026
T Critical,
α
= 0.025
2.2622
t Test for Population Mean
1. What is the null hypothesis for testing the potential buyer’s belief?
A. Ho:
μ
>
10,000 *
B. Ho:
μ
≠Η
10,000
C. Ho:
μ
< 10,000
D. Ho:
μ
> 10,000
E. Ho:
μ
<
10,000
2. What is the calculated test statistic to test the buyer’s belief?
A. – 1.833
B.
0.0026
C.
3.668
D. – 2.262
E. – 3.668 *
2
3.
Suppose
the calculated test statistic is
–1.85,
which one of the following would best
describe the pvalue for the test?
A. p > .1
B. .05 < p <
.10
C. .025 < p <
.05 *
D. .01 < p <
.025
E. p <
.01
4.
Suppose
the pvalue of the test is
0.03
. What is the conclusion of the test concerning the
potential buyer’s belief, conducted at the 0.05 significance level, and reason for the
conclusion?
A. Conclude there is insufficient evidence the average weekly revenue is less than $10,000
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This note was uploaded on 03/09/2011 for the course DSC 3710 taught by Professor Staff during the Spring '09 term at North Texas.
 Spring '09
 staff

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