TABLE 3-1
Health care issues are receiving much attention in both academic and political arenas. A
sociologist recently conducted a survey of citizens over 60 years of age whose net
worth is too high to qualify for Medicaid. The ages of 25 senior citizens were as
follows:
Referring to Table 3-1, what type of shape does the distribution of the sample appear to
have?
TABLE 9-8
One of the biggest issues facing e-retailers is the ability to turn browsers into buyers.
This is measured by the conversion rate, the percentage of browsers who buy something
in their visit to a site. The conversion rate for a company’s website was 10.1%. The
website at the company was redesigned in an attempt to increase its conversion rates. A
sample of 200 browsers at the redesigned site was selected. Suppose that 24 browsers
made a purchase. The company officials would like to know if there is evidence of an
increase in conversion rate at the 5% level of significance.
Referring to Table 9-8, the largest level of significance at which the null hypothesis will
not be rejected is ________.
TABLE 19-5
The following payoff table shows profits associated with a set of 2 alternatives under 3
possible events.
Suppose that the probability of Event 1 is 0.2, Event 2 is 0.5, and Event 3 is 0.3.
Referring to Table 19-5, what is the EMV for Action B?
TABLE 12-11
The director of admissions at a state college is interested in seeing if admissions status
(admitted, waiting list, denied admission) at his college is independent of the type of
community in which an applicant resides. He takes a sample of recent admissions
decisions and forms the following table:
He will use this table to do a chi-square test of independence with a level of
significance of 0.01.
Referring to Table 12-11, the value of the test statistic is ________.
TABLE 16-15
Given below are the average prices for three types of energy products for five
consecutive years.
Referring to Table 16-15, what is the unweighted aggregate price index for the group of
three energy items in year 5 using year 1 as the base year?
TABLE 17-12
The marketing manager for a nationally franchised lawn service company would like to
study the characteristics that differentiate home owners who do and do not have a lawn
service. A random sample of 30 home owners located in a suburban area near a large
city was selected; 15 did not have a lawn service (code 0) and 15 had a lawn service
(code 1). Additional information available concerning these 30 home owners includes
family income (Income, in thousands of dollars), lawn size (Lawn Size, in thousands of
square feet), attitude toward outdoor recreational activities (Attitude 0 = unfavorable, 1
= favorable), number of teenagers in the household (Teenager), and age of the head of
the household (Age).
The Minitab output is given below:
Referring to Table 17-12, what is the estimated odds ratio for a 48-year-old home owner
with a family income of $100,000, a lawn size of 5,000 square feet, a negative attitude
toward outdoor recreation, and one teenager in the household?
The amount of time necessary for assembly line workers to complete a product is a
normal variable with a mean of 15 minutes and a standard deviation of 2 minutes. The
probability is ________ that a product is assembled in less than 20 minutes.
TABLE 17-3
A financial analyst wanted to examine the relationship between salary (in $1,000) and 4
variables: age (X1 = Age), experience in the field (X2 = Exper), number of degrees (X3 =
Degrees), and number of previous jobs in the field (X4 = Prevjobs). He took a sample of
20 employees and obtained the following Microsoft Excel output:
SUMMARY OUTPUT
Regression Statistics
ANOVA
Referring to Table 17-3, the net regression coefficient of X2 is ________.
TABLE 9-12
A drug company is considering marketing a new local anesthetic. The effective time of
the anesthetic the drug company is currently producing has a normal distribution with a
mean of 7.4 minutes with a standard deviation of 1.2 minutes. The chemistry of the new
anesthetic is such that the effective time should be normally distributed with the same
standard deviation. The company will market the new local anesthetic as being better if
there is evidence that the population mean effective time is greater than the 7.4 minutes
of the current local anesthetic.
Referring to Table 9-12, if you select a sample of 25 new local anesthetics and are
willing to have a level of significance of 0.1, the power of the test is ________ if the
population mean effective time is 8 minutes.