e71_hw2 - Stats for Strategy Fall 2008 HOMEWORK 2 (Due...

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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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e71_hw2 - Stats for Strategy Fall 2008 HOMEWORK 2 (Due...

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