section_problems_11_fall11

# section_problems_11_fall11 - Section Problems#11 7.1 and...

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Section Problems #11 7.1 and 7.2 material from book: 7.38 (page 430) Use df =1000. Round your answers to four decimal places . #1) You will have complete sales information for last month in a week, but right now you have data from a random sample of 41 stores. The mean change in sales in the sample x = -4 % and the standard deviation of the changes s = 11%. The population distribution is roughly normal. You have reason to believe that sales were down last month due to an aggressive advertising campaign by a competitor. Here are the null and alternative hypotheses: H 0 : μ = 0 H a : μ < 0 What is the t statistic? (Round your answer to three decimal places .) According to Table D, what is the lowest significance level (smallest α value) at which you would reject the H 0 ? #2) A bank wonders whether omitting the annual credit card fee for customers who charge at least \$3000 in a year would increase the amount charged on its credit card. The bank makes this offer to an SRS of 1001 of its existing credit card customers. It then compares how much these customers charge this year

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section_problems_11_fall11 - Section Problems#11 7.1 and...

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