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Calculate the p value associated with the test

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Unformatted text preview: : Analytic Bloom's: Application Difficulty: Medium Topic: Hypothesis testing 140. Failure to meet payments on student loans guaranteed by the US government has been a major problem for both banks and the government. Approximately 50% of all student loans guaranteed by the government are in default. A random sample of 350 loans to college students in one region of the US indicates that 147 are in default. Calculate the p-value associated with the test statistic. A. .0028 B. .0262 C. .0525 D. .0014 E. .0012 AACSB: Analytic Bloom's: Application Difficulty: Easy Topic: Hypothesis testing 1-814 Chapter 01 - An Introduction to Business Statistics 141. Failure to meet payments on student loans guaranteed by the US government has been a major problem for both banks and the government. Approximately 50% of all student loans guaranteed by the government are in default. A random sample of 350 loans to college students in one region of the US indicates that 147 are in default. Calculate an interval that tests the hypotheses at α = .01. A. [.35 .49] B. [.37 .47] C. [.33 .51] D. [.34 .50] E. [.36 .48] AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Hypothesis testing 142. A survey of the wine market has shown that the preferred wine for 17% of Americans is merlot. A wine producer in California where merlot is produced believes the figure is higher in California. She contacts a random sample of 550 California residents and asks which wine they purchase most often. Suppose 115 replied that merlot was the primary wine. Calculate the appropriate test statistic to test the hypotheses. A. 2.25 B. 2.44 C. 1.11 D. -2.25 E. -2.44 AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Hypothesis testing 1-815 Chapter 01 - An Introduction to Business Statistics 143. A survey of the wine market has shown that the preferred wine for 17% of Americans is merlot. A wine producer in California where merlot is produced believes the figure is higher in California. She contacts a random sample of 550 California residents and asks which wine they purchase most often. Suppose 115 replied that merlot was the primary wine. Calculate the p-value associated with the test statistic. A. .0146 B. .0122 C. .0073 D. .1335 E. .0244 AACSB: Analytic Bloom's: Application Difficulty: Easy Topic: Hypothesis testing 144. One survey conducted by a major leasing company determined that the Lexus is the favorite luxury car for 25% of leases in Atlanta. Suppose a US car manufacturer conducts its own survey in an effort to determine if this figure is correct. Of the 384 leases in Atlanta surveyed, 79 lease a Lexus. Calculate the appropriate test statistic to test the hypotheses. A. -2.15 B. -2.00 C. -0.91 D. 2.00 E. 2.51 AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Hypothesis testing 1-816 Chapter 01 - An Introduction to Business Statistics 145. One survey conducted by a major leasing company determined that the Lexus is the favorite luxury car for 25% of leases in Atlanta. Suppose a US car manufacturer conducts its own survey in an effort to determine if this figure is correct. Of the 384 leases in Atlanta surveyed, 79 lease a Lexus. Calculate the p-value associated with the test statistic. A. 0.0228 B. 0.0456 C. 0.1814 D. 0.3628 E. 0.4772 AACSB: Analytic Bloom's: Application Difficulty: Easy Topic: Hypothesis testing 146. One survey conducted by a major leasing company determined that the Lexus is the favorite luxury car for 25% of leases in Atlanta. Suppose a US car manufacturer conducts its own survey in an effort to determine if this figure is correct. Of the 384 leases in Atlanta surveyed, 79 lease a Lexus. Calculate a confidence interval that tests the hypotheses at α = . 02. A. [.165 .246] B. [.179 .232] C. [.142 .269] D. [.153 .259] E. [.158 .254] AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Hypothesis testing 1-817 Chapter 01 - An Introduction to Business Statistics 147. If you live in California, the decision to buy earthquake insurance is an important one. A survey revealed that only 133 of 337 randomly selected residences in one California county were protected by earthquake insurance. Calculate the appropriate test statistic to test the claim that less than 40% of the residents in the county are protected by earthquake insurance. A. 0.20 B. 0.40 C. -0.13 D. -0.20 E. -0.40 AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Hypothesis testing 148. If you live in California, the decision to buy earthquake insurance is an important one. A survey revealed that only 133 of 337 randomly selected residences in one California county were protected by earthquake insurance. What is the p-value associated with the test statistic calculated to test the claim that less than 40% of the county residents are protected by earthquake insurance. A. 0.0793 B. 0.1554 C. 0.3446 D. 0.4207 E. 0.4483 AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Hypothesis testing Chapter 10 Statistical Inferences Based on Two Sam...
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This document was uploaded on 01/20/2014.

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