Question

17)An analyst at a local bank wonders if the age distribution of customers coming for service at his branch in town is the same as at the branch located near the mall. He selects 100 transactions at random from each branch and researches the age information for the associated customer. Here are the data:

17) An analyst at a local bank wonders if the age distribution of customers coming for service at his branch in town is the same as at the branch located near the mall. He selects 100 transactions at random from each branch and researches the age information for the associated customer. Here are the data: Age 56 or older 30-55 Total Less than 30 In-Town Branch 20 40 40 100 30 20 Mall Branch 50 100 Total 50 90 60 200 What is the expected number of less-than-30-year-old customers coming for service at the branch located near the mall? A) 25 B) 45 C) 30 D) 40 E) 50 18) An analyst at a local bank wonders if the age distribution of customers coming for service at his branch in town is the same as at the branch located near the mall. He selects 100 transactions at random from each branch and researches the age information for the associated customer. Here are the data: Age 56 or older Less than 30 Total 30-55 In-Town Branch | 20 40 40 100 20 Mall Branch 30 50 100 Total 50 90 60 200 The p-value for the chi-square statistic is 0.231. At the significance level of 0.05, the correct decision and conclusion are (is): I. Fail to reject the null hypothesis that the age distribution of customers coming for service at is the same as at both branches. II. Reject the null hypothesis that the age distribution of customers coming for service at is the same as at both branches III. There is sufficient evidence that the age distribution of customers coming for service at is not the same as at both branches. IV. There is not sufficient evidence that the age distribution of customers coming for service at is not the same as at both branches A) III only B) Both II and III C) Both I and IV D) I only E) IV only 19) Data were collected on the following variables: turnover rate, job growth, number of employees, and innovative index in a sample of firms was selected from the high-tech industry (Industry = 1) and the financial services sector (Industry 0). The regression output to predict Turnover Rate is as below. What does the scatterplot below suggest about developing a multiple regression model to predict turnover rate using job growth, industry, innovative index, and employees as predictor variables? Dependent Variable is Turnover Rate Predictor SE Coef P Coef T 9.2439 0.7871 11.74 0.000 Constant Innovative Index Job Growth -0.02402 0.01524 -1.58 0.134 -0.50127 0.07287 -6.88 0.000 Employees Industry 0.0006144 0.0005461 1.13 0.276 -2.8329 0.4699 -6.03 0.000 Scatterplot of Turnover Rate vs Job Growth Industy 10 0 8 -2 0 7 4 6 10 Job Growth A) Using the interaction term Job Growth*Industry in the model is appropriate. B) Using Job Growth as a dummy variable in this model is appropriate. C) Job Growth should not be included in the model as a variable. D) Using Industry as a dummy variable in this model is appropriate. E) Innovative Index should be included in the model as a variable Turnover ajex

Answer 1

17) The expected number of less than 30 years old customer getting service at the branch near the mall is A)25

Solution is 50*100/200 = 25

18)Since p value >0.05 the answer is D) I only

Fail to reject null hypothesis that the age distribution is same at both the branches

19) Since the p value < 0.05 for industry , the dummy variable is significantly affecting turnover and hence D) Using Industry in the model as dummy variable ia appropriate.