Business Statistics 2 Essay Assignment Paper

  1. Bloomberg poll asked consumers if they trusted “Growth Hormone Free” labels on Milk and meat products. Out of 1000 adults surveyed, 404 responded “yes.” We would like to test if the proportion of respondents that trust these labels is at least 40%.

Business Statistics 2 Essay Assignment Paper

The correct Null and alternative hypothesis are:

 

 

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  1. Ho: p< 0.40 and H1: p = .40
  2. Ho: p > 0.40 and H1: p ≤ .40
  3. Ho: p < 0.40 and H1: p ≥ .40
  4. Ho: p > 0.40 and H1: p > .40
  5. Ho: p < 0.40 and H1: p < .40

 

Business Statistics 2 Essay Assignment Paper

  1. The weights of sandwich patties sold by Crazy Burger are normally distributed. A random sample of 15 patties has a mean weight of 3.8 ounces with a sample standard deviation of 0.5 ounces.

 

At the .05 level of significance, perform a hypothesis test to see if the true mean weight is less than 4 ounces.

Business Statistics 2 Essay Assignment Paper

 

[ put your answer here]

  1. Given that all other factors are kept equal, a decrease in the level of confidence (α) desired will

Business Statistics 2 Essay Assignment Paper

  1. tighten the confidence interval.
  2. decrease the margin of error.
  3. increase precision.
  4. increase the margin of error.
  5. Both A and D.

 

Business Statistics 2 Essay Assignment Paper

  1. Tourism is the major source of foreign currencies of many developing countries. To quantitatively validate this suggestion, data are collected on the number of annual foreign visitors in many countries (in millions) and total tourism revenue (in billions of dollars) for a sample of 10 countries. Below is the linear regression analysis output:

 

Business Statistics 2 Essay Assignment Paper

The calculated t-statistic to test whether the regression slope is significant is

  1. 6.20
  2. 13.88
  3. 0.07917
  4. 2.58307
  5. 3.73

 

Business Statistics 2 Essay Assignment Paper

  1. Using this regression equation to predict salary for 10 years of experience gives us the following results. Which of the following is true?

 

How do you interpret the Confidence Interval?

 

  1. 95% of pharmacists with 10 years of experience earn between $38,960 and $65,130.

Business Statistics 2 Essay Assignment Paper

  1. 95% of pharmacists with 10 years of experience earn between $48,010 and $56,080.

 

  1. We are 95% confident that a particular pharmacist who has 10 years of experience earns between $38,960 and $65,130.

 

  1. We are 95% confident that a particular pharmacist who has 10 years of experience earns between $48,010 and $56,080

Business Statistics 2 Essay Assignment Paper

  1. 95% of pharmacists with 10 years of experience on average earn between $48,010 and $56,080.

 

Business Statistics 2 Essay Assignment Paper

  1. . The following tables are output from multiple regression analysis performed to develop a model for predicting a firm’s Price-Return (PR) ratio in relation to Growth Rate, Profit Margin, and if the firm is Green (1 = Yes, 0 = No).

 

Business Statistics 2 Essay Assignment Paper

  1. Using the above output, write the multiple regression model?

 

[ put your answer here]

 

 

  1. Using the above output, please construct a 95% Confidence Interval for Growth rate? And give your interpretation for the CI you constructed?

 

Business Statistics 2 Essay Assignment Paper

[ put your answer here]

 

 

  1. Using the output given in question 14, answer the following questions:

 

  1. Based on the F-statistic and associated p-value, what do you conclude about the multiple regression at α = .05?

[ put your answer here]

Business Statistics 2 Essay Assignment Paper

 

  1. Based on the above output what do you interpret about the regression coefficient of Profit Margin? What is your justification for your conclusion? Business Statistics 2 Essay Assignment Paper