1-20chapter stats

Samples are taken and the number of ounces is

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Unformatted text preview: ll hypothesis B. Fail to reject the null hypothesis Reject H0 at α = .05 so we conclude that the protocol increases test scores Reject H0 if T+ ≤ T0 use T+ since we are looking for a shift of DB to the left of DA (that is the test scores are going to improve) T+ = 6.5 8 so we can reject the null hypothesis AACSB: Analytic Skills Bloom's: Application Difficulty: Hard Learning Objective: 3 Topic: Signed Ranks test 1-1864 Chapter 01 - An Introduction to Business Statistics 100. A readability analysis is conducted to determine how easy four different newspapers are to read for the average citizen. The sample scores are below: Calculate H A. 20.00 B. 14.95 C. 11.345 D. 12.06 N = 4*5 = 20 TA = 32.5, TB = 69.5, TC = 23, TD = 85 H = [12/(20*21)][(32.5)2/5 + (69.5)2/5 + (23)2/5 + (85)2/5] - 3(21) H = 14.95 AACSB: Analytic Skills Bloom's: Application Difficulty: Medium Learning Objective: 4 Topic: Kruskal-Wallis 1-1865 Chapter 01 - An Introduction to Business Statistics 101. A readability analysis is conducted to determine how easy four different newspapers are to read for the average citizen. The sample scores are below: At the = .01 level of significance, test the claim that the four newspapers have the same readability level. A. Reject the null hypothesis B. Fail to reject the null hypothesis Reject H0 so for the four newspapers, at least two differ in their readability level. H0: All newspapers have identical readability levels vs HA: At least two of the newspapers differ in their location χ2 for α = .01 with p = k-1 = 4-1 = 3 degrees of freedom = 11.345 N = 4*5 = 20 H = [12/(20*21)][(32.5)2/5 + (69.5)2/5 + (23)2/5 + (85)2/5] - 3(21) H = 14.95 Reject null hypothesis if H > χ2 AACSB: Analytic Skills Bloom's: Application Difficulty: Medium Learning Objective: 4 Topic: Kruskal-Wallis 1-1866 Chapter 01 - An Introduction to Business Statistics 102. For eight randomly selected states, the following table lists the per capita beer consumption (in gallons) and the per capita wine consumption (in gallons) Calculate the rank correlation coefficient when beer consumption = x and wine consumption =y A. rs = .506 B. rs = .703 C. rs = .711 D. rs = .494 rs = 1 - [6∑d2]/[n(n2-1) = 1 - [6*42.5]/[8*63] = 1 - .506 = .494 AACSB: Analytic Skills Bloom's: Application Difficulty: Medium Learning Objective: 5 Topic: Rank correlation coefficient 1-1867 Chapter 01 - An Introduction to Business Statistics 103. For eight randomly selected states, the following table lists the per capita beer consumption (in gallons) and the per capita wine consumption (in gallons) Test H0: ps = 0 vs HA: ps > 0 for the relationship between beer consumption and wine consumption at the state level at α = .05. A. Reject the null hypothesis B. Fail to reject the null hypothesis Cannot reject the null hypothesis so we have no evidence of a significant relationship between the amount of beer consumption per capita and the amount of wine consumption per capita t = (.494 * √6)/ √.7559 = 1.392 t.025,6 = 2.447 Reject H0 if t > t.025,6 AACSB: Analytic Skills Bloom's: Application Difficulty: Hard Learning Objective: 5 Topic: Rank correlation coefficient Chapter 19 Decision Theory True / False Questions 1. The maximin criterion finds the best possible payoff for each alternative and then chooses the alternative that yields the maximum payoff. True False 2. A set of potential future conditions that will have an affect on the results of a decision is called the states of nature. True False 1-1868 Chapter 01 - An Introduction to Business Statistics 3. The maximax criterion finds the worst possible payoff for each alternative and then chooses the alternative that yields the maximum payoff. True False 4. The maximin criterion finds the best possible payoff for each alternative and then chooses the alternative that yields the maximum payoff. True False 5. A tire manufacturer needs to make a decision about the amount of production for the coming month (high vs. low). The level of production largely depends on the level of demand. For this situation, the level of demand (high, medium, low) is the states of nature. True False 6. Maximin is a criterion used when making decisions under certainty. True False 1-1869 Chapter 01 - An Introduction to Business Statistics 7. Maximax is a criterion used when making decisions under uncertainty. True False 8. The maximin criterion is preferred by optimistic decision-makers. True False 9. When the maximin criterion is used, the decision-maker assumes that for any alternative action, the state of nature with the maximum payoff will take place. True False 10. A decision-maker's expected utility is based upon his/her attitude towards risk. True False 11. The maximax criterion is preferred by pessimistic decision-makers. True False 12. The maximax criterion finds the best possible payoff for each alternative, and then chooses the alternative that yields the maximum (best) possible payoff. True False 13. The expected monetary valu...
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