Pages 92-93, Questions 64, 66, and 67
64.
a. Mean
Variables winning time = 3.71029
Payoff = 18.71818
Variables winning time = 2.38335
Payoff = 10.65
Median
b. Range
Variables time = 18.6772
Payoff = 100.9
Standard deviation
Variable time = 5.294558
Payoff
Alicia Wright
December 2, 2015
EC 315 Fall 2
Chapter 11
# 24. Clark Heter is an industrial engineer at Lyons Products. He would like to determine whether there
are more units produced on the night shift than on the day shift. Assume the population standar
Alicia Wright
December 2, 2015
EC 315 Fall 2
Chapter 11
# 24. Clark Heter is an industrial engineer at Lyons Products. He would like to determine whether there
are more units produced on the night shift than on the day shift. Assume the population standar
Divisions
Five plus Powerall
Match 5
Four plus Powerball
Match 4
Three plus Powerball
Match 3
Two plus Powerball
One plus Powerball
Zero plus Powerball
Payout
Odds
Probability
$50,000,000 146,107,962
6.844E-009
200,000
3,563,609 2.80614E-007
10,000
584,43
1. Give an example representing a discrete probability distribution and another example
representing a continuous probability distribution. Explain why your choices are discrete and
continuous.
Discrete distribution: A business sells CDs in a wholesale lo
What is a type I and type II errors in hypothesis testing? What would be examples of each? Explain
A type I error is when you reject a null hypothesis that is true. A type II error is when you do not reject a
null hypothesis that is false. An example of t
1. The F test is used in Analysis of Variance (ANOVA). When would a researcher use an ANOVA?
Explain.
The ANOVA analyzes the total variability of a data set by separating variability into different components,
which helps researchers find the source of th
1. What is correlation? Does correlation prove causation? Why or why not? Explain and provide
examples to support your explanation.
Correlation measures the relationship between two variables. However, correlation does not imply
causation, as the data may
Alicia Wright
November 18, 2015
EC 315 Fall 2
Chapter 14
# 40. A suburban hotel derives its gross income from its hotel and restaurant operations. The owners are
interested in a relationship between the number of rooms occupied on a nightly basis and the
Alicia Wright
November 11, 2015
EC 315 Fall 2
Chapter 10
#34. A recent article in Vitality magazine reported that the mean amount of leisure time per week for
American men is 40.0 hours. You believe this figure is too large and decide to conduct your own
1) Purpose Statement
State the correlation as in the following:
The dependent variable of a students GPA is determined by independent variables Age, IQ, Study Time,
and Class size.
The most important independent variable in this relationship is age becaus
Pages 318-319 and 321, Questions 34, 38 and 61
34
2. A recent article in Vitality magazine reported that the mean amount of leisure time per week for American men is 40.0 h
and
decide to conduct your own test. In a random sample of 60 men, you find that t
Question 1
When a researcher has two samples with two means, one of the assumptions for two samples is
independence of between the two samples. What does this mean? What happens if the independence
assumption is violated?
When a researcher has 2 samples w
Pages 351-352, Questions 24, 34, 37, and 38
345-351
(21)sq/54 - (28)sq/60
-1.3
Fail to reject. There is not enough evidence to conclude that more units are produced on the night shif
These are independent samples of sufficient size to use the z-test for p
Alicia Wright
October 21, 2015
EC 315 Fall 2
#64. The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louisville, Kentucky. The
race track is one and one-quarter miles.
a. Determine the mean and median for the variables winning time
Alicia Wright
October 27, 2015
EC 315 Fall 2
Chapter 6
#36. The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence
are shown below. The price of a ticket is $1.00. Find the mean and standard deviation of the pay
Alicia Wright
November 4, 2015
EC 315 Fall 2
Chapter 9
#33. The National Collegiate Athletic Association (NCAA) reported that the mean of number hours spent
per week on coaching and recruiting by college football assistant coaches during the season was 70
As a sample size approaches infinity, how does the students t distribution compare to the normal z
distribution? When a researcher draws a sample from a normal distribution, what can one conclude
about the sample distribution? Explain.
T-distributions bec