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 analyst wants to use a t test to test for the significance of
the coefficient of X3. The value of the test statistic is ________.
The average score of all pro-golfers for a particular course has a mean of 70 and a
standard deviation of 3.0. Suppose 36 pro-golfers played the course today. Find the
probability that the average score of the 36 pro-golfers exceeded 71.
TABLE 9-11
An appliance manufacturer claims to have developed a compact microwave oven that
consumes a population mean of no more than 250 W. From previous studies, it is
believed that power consumption for microwave ovens is normally distributed with a
population standard deviation of 15 W. If there is evidence that the population mean
consumption is greater than 250 W, the manufacturer will be unable to make the claim.
Referring to Table 9-11, if you select a sample of 20 compact microwave ovens and are
willing to have a level of significance of 0.10, the probability of making a Type II error
is ________ if the mean power consumption of all such microwave ovens is in fact 248
W.
TABLE 3-6
The rate of return of an Internet Service Provider over a 10-year period are: 10.25%,
12.64%, 8.37%, 9.29%, 6.23%, 42.53%, 29.23%, 15.25%, 21.52%, -2.35%.
Referring to Table 3-6, compute the arithmetic mean rate of return per year.
Most colleges admit students based on their achievements in a number of different
areas. Whether a student has taken any advanced placement courses is an example of a
________ variable.
A personal computer user survey was conducted. Number of personal computers owned
is an example of a ________ numerical variable.
TABLE 10-7
A buyer for a manufacturing plant suspects that his primary supplier of raw materials is
overcharging. In order to determine if his suspicion is correct, he contacts a second
supplier and asks for the prices on various identical materials. He wants to compare
these prices with those of his primary supplier. The data collected is presented in the
table below, with some summary statistics presented (all of these might not be
necessary to answer the questions which follow). The buyer believes that the
differences are normally distributed and will use this sample to perform an appropriate
test at a level of significance of 0.01.
Referring to Table 10-7, if the buyer had decided to perform a two-tail test, the p-value
would have been ________.
TABLE 9-11
An appliance manufacturer claims to have developed a compact microwave oven that
consumes a population mean of no more than 250 W. From previous studies, it is
believed that power consumption for microwave ovens is normally distributed with a
population standard deviation of 15 W. If there is evidence that the population mean
consumption is greater than 250 W, the manufacturer will be unable to make the claim.
Referring to Table 9-11, if you select a sample of 20 compact microwave ovens and are
willing to have a level of significance of 0.01, the power of the test is ________ if the
mean power consumption of all such microwave ovens is in fact 248 W.