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Unformatted text preview: Stats for Strategy Fall 2008 HOMEWORK 2 (Due Monday, Sept. 8) DIRECTIONS: • Please use the Four Steps (see Notes page 43) whenever the exercise asks for a hypothesis test. • Prof. Whitten has altered or added instructions to some exercises. A. Homework Problems with Posted Solutions (One MINITAB exercise + 13 textbook exercises) MINITAB EXERCISE Example 6 using MINITAB ’s One-Proportion Procedure Open MINITAB . Please briefly review Example 6 (Financial goals) and the answers which we wrote for Example 6 in the Notes (page 23.) Compare answers from MINITAB to answers in the Notes as you go along. (a) Find the P-value: Stat > Basic Statistics > 1 Proportion > (Choose “Summarized data” and input number of “trials” and “events”) > Check the box “Perform hypothesis test” and enter 0.7 for the hypothesized value > Options > (Select Alternative not equal ) > (Check the box “Use test and interval based on normal distribution”) > OK > OK What are the exact Z statistic and P-value from MINITAB ? (Use all available decimal places.) Are these answers similar to the answers from Example 6 in the notes?...
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This note was uploaded on 02/03/2012 for the course 06E 071 taught by Professor Stuff during the Fall '11 term at University of Iowa.
- Fall '11