MGMT 305
Homework 3: Answer Key
(5pts)
1.
a.
The Type I error is rejecting H
0
when it is true.
In this case, this error occurs if the
researcher concludes that the mean newspaperreading time for individuals in
management positions is greater than the national average of 8.6 minutes when in
fact it is not.
(2.5pts)
b.
The Type II error is accepting H
0
when it is false.
In this case, this error occurs if
the researcher concludes that the mean newspaperreading time for individuals in
management positions is less than or equal to the national average of 8.6 minutes
when in fact it is greater than 8.6 minutes.
(2.5pts)
(10pts)
2.
a.
H
0
:
μ
= 5600
H
a
:
≠
5600
(5pts)
b.
Degrees of freedom =
n
– 1 = 24
(10pts)
Because
t
< 0,
p
value is two times the upper tail area
Using
t
table: area in lower tail is between .01 and .025; therefore,
p
value is
between .02 and .05.
Exact
p
value corresponding to
t
= 2.26 is .0332
p
value < .05; reject H
0
. The mean diamond price in New York City differs.
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 Fall '08
 Priya
 Management, Statistics, Normal Distribution, researcher, Type I and type II errors, mean newspaperreading time

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