Business statistics

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Business Statistics

A sample of 100 mortgages approved during the current year showed that 31 were issued to a single-earner family or individual. The historical average is 25percent. (a) At the .05 level of significance in a right-tailed test, has the percentage of single-earner or individual mortgages risen? Include a sketch of yourdecision rule and show all work. (b) Is this a close decision? (c) State any assumptions that are required.
Business Statistics

Alumni donations are an important source of revenue for college and universities. If administrators could determine the factors that could lead to increases in thepercentage of alumni who make a donation, they might be able to implement policies that could lead to increased revenues. Research shows that students who are moresatisfied with their contact with teachers are more likely to graduate. As a result, one might suspect that smaller class sizes and lower student-faculty ratios mightlead to a higher percentage...
business statistics

UCLA College of Business obtained the following results from two independent random samples on the salaries of a recent graduating class: Sample Economics (1) Majors Sample Marketing (2) Majors Sample Size Economics Majors =36Sample Size Marketing Majors =54Mean Sample Economics = $51,230 ...

Business Statistics

1. Tíme spent serving a customer at a cafe is normally distributed, with $\mu=7$ minutes and $\sigma=1.8$ minutes.(a) If you select a random sample of duration serving twenty-five ( 25 ) customers, determine the probability that the sample mean is between 6.8 and 7.2 minutes.(b) If you select a random sample of 144 customers, determine the probability that the sample mean is between 6.8 and 7.2 minutes.(c) Explain the difference in the results of (i) and (ii).
Business Statistics

A factory manager collected a sample of ten (10) packets of 3 -in-1 coffee and the weights (in grams) of each packet are recorded as follow.$\begin{array}{lllll}25 & 23 & 26 & 28 & 24 \\ 21 & 26 & 24 & 25 & 27\end{array}$Calculate(a) the mean weight of a packet of 3 -in-1 coffee.(b) the sample standard deviation of the data collected.(c) find a $90 \%$ confidence interval for the weights of the 3 -in- 1 coffee.
Business Statistics

A service counter manager wishes to ensure that an average of 16 seconds to serve a customer. In order to analyse the efficiency of the service process, he takes a random sample of 56 customers. The mean service time of the sample is 15.8 seconds. Assume that the population standard deviation is 0.8 seconds.(a) State the null and the altemative hypotheses for the test.(b) Use the p-value approach to test the manager's concem at $\alpha=0.05$.(c) Confim your result in (ii)...

Business Statistics
Business Statistics

4. A survey camied out by John claims that the average cost of living for households in City 1 is more than that in City 2 :$$ \begin{array}{|c|c|} \hline \text { City } 1 & \text { City } 2 \\ \hline \overline{x_{1}}=164 & \overline{x_{2}}=159 \\ \hline \sigma_{1}=12.50 & \sigma_{2}=9.25 \\ \hline n_{1}=35 & n_{2}=30 \\ \hline \end{array} $$(a) Specify the competing hypotheses to test John's claim.(b) Calculate the value of the test statistic.(c) At the $5 \%$ significance level,...
Business Statistics

5. The market shares in 2012 of four (4) television companies, $\mathrm{A}, \mathrm{B}, \mathrm{C}$ and $\mathrm{D}$ are listed below. A survey was camied out in 2017 on 200 television buyers and the distribution of buyers to $\mathrm{A}, \mathrm{B}, \mathrm{C}$ and $\mathrm{D}$ are also listed in the last column.$$ \begin{array}{|c|c|c|} \hline \text { Company } & \text { Market share in 2012 } & \text { Number of buyer in 2017 } \\ \hline \text { A } & 0.40 &...