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JZ Thirdexam - Problem 1 2 3 4 5 6 7 8 Earned 12 12 12 12...

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Problem Value Earned 1 12 12 2 12 12 3 12 12 4 12 12 5 12 12 6 12 12 7 13 8 8 15 15 Total 100 95 1) In new housing developments, it is sometimes difficult to get utilities (water, electricity, natural gas) installed in a timely fashion. Your firm is considering investing in a new development which can finish housing construction in 90 days. A random sample of the times (in days) from the request for service connection to the time of service completion yielded the following data: 114 78 96 137 150 103 117 126 86 99 114 114 104 73 86 Is this data consistent with the hypothesis that on average it takes 90 days from request to connection of utility service? Use the 5% level of significance. Mean 106.47 HYPOTHESIS Std Dev 21.45 Ho: mu = 90 Sample 15 Ha: mu != 90 Alpha 0.05 Template for Confidence Interval Sample Sample Sample Mean SD n alpha Enter ===> 106.47 21.45 15 0.05 Confidence Interval is 94.59 to 118.35 Since 90 does not lie between the confidence interval we REJECT the null hypothesis On average it takes 94.58778 to 118.3456 days from request to connection of utility se

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s ervice
2) An auditor for a government agency is assigned the task of evaluating reimbursement for office visits to doctors paid by Medicare. The audit is to be conducted for all Medicare payments in a specific geographical area during a certain month. In that area and for that month there were a total of 25,056 visits. Since this is too large a number to process in a timely manner, the auditor decides to take a random sample from these visits. She wishes to estimate the average Medicare payment to within \$4.00 with a confidence of 95%. How large a sample should she take? In a preliminary sample of size 30, she found that the standard deviation of Medicare payments was \$35.42. z for 95% confidence interval = 1.96 Preliminary sample Sample Size = 30 Sample Std.Dev s = 35.42 Desired Width W = 4 n >= 301.21 Approximately 302 Therefore we approximately need 302 random observations. Since we already took 30 observations we need 302-30 = 272 observations more.

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3) The marketing branch of the Mexican Tourist Office would like to increase the proportion of tourists who purchase silver jewelry while vactioning in Mexico from its present value of 40%. Toward this end, promotional literature describing both the beauty and value of the jewlery is prepared and distributed to all passengers on airplanes arriving at a certain seaside resort during a one week period. A random sample of 500 returning passengers was selected and it was found that 247 had purchased silver jewelry while in Mexico.
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JZ Thirdexam - Problem 1 2 3 4 5 6 7 8 Earned 12 12 12 12...

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