The average credit card debt carried by college students was compared at public versus private universities. It was reported that a statistically significant difference existed between the two types of institutions and that students at private universities carried higher credit card debt. Explain what​ “statistically significant” means in this context. 

Top management of a large multinational corporation wants to create a culture of innovativeness and change. A consultant hired to assess the​ company’s organizational culture finds that only​ 15% of employees are open to new ideas and approaches toward their work. Consequently the company conducts a program for employees in order to reinforce the new corporate philosophy. After the program is​ completed, employees are surveyed to see if a greater percentage is now open to innovativeness and change. What is the correct alternative​ hypothesis?

Describe how the width of a​ 95% confidence interval for a mean changes as the standard deviation​(s​) of a sample​ increases, assuming sample size remains the same.

Suppose the​ P-value is 0.1039 at α equals=0.05. Make a conclusion.

A survey of investors finds that​ 60% use a full service brokerage firm to invest in​ stocks, 30% trade stocks online and​ 24% do both. What is the probability that an investor selected at random uses a full service brokerage firm or trades stocks​ online?

Which of the following is not an assumption​ and/or condition required for constructing a confidence interval for the​ proportion?

A​ men’s clothing store has determined the following probability distribution for the number of special size orders placed per month. Based on this​ distribution, what is the standard deviation in the number of special size orders placed per​ month? Number Ordered Probability 0 0.10 5 0.10 10 0.12 15 0.30 20 0.38

In a particular production​ process, drying times for newly pained parts are uniformly distributed between 2 and 8 minutes. What is the probability that a part dries in less than 6​ minutes?

A researcher is conducting a study to determine how knowledgeable teenagers are about making good food choices. She decides to interview teenagers eating at a fast food restaurant. The results may be biased because this is what type of​ sample?

An advocacy group is investigating whether gender has an effect on job category in large investment firms. She surveyed a sample of firms with the results shown in the following table. What is the probability that a randomly selected​ employee’s job category is executive​ / managerial given that she is​ female? Job Category Male Female Clerical​ / Technical 85 215 Professional Staff 720 480 Executive​ / Managerial 400 100