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…
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 m…
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 conc…
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 bro…
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 conditio…
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 probabi…
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…
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 knowledg…
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 eff…
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