Question
In: Statistics and Probability
A professor in the school of business at a certain university wants to investigate the claim...
A professor in the school of business at a certain university wants to investigate the claim that the prices of new textbooks in the campus store are higher than a competing national online bookstore by more than 50 cents. The professor randomly chooses required texts for 12 business school courses. Use α=0.05
. The data is given in
the table below.
| Book | Campus Store | Online Store |
| A | 171.79 | 171.56 |
| B | 155.76 | 154.72 |
| C | 108.11 | 106.57 |
| D | 161.67 | 156.68 |
| E | 151.47 | 151.18 |
| F | 137.68 | 136.36 |
| G | 131.8 | 130.78 |
| H | 39.99 | 39.46 |
| I | 139.67 | 138.87 |
| J | 244.38 | 240.41 |
| K | 115.13 | 114.37 |
| L | 139.49 | 139.26 |
(b) Carry out the appropriate statistical test and find the
P-value, to at least three decimal places.
P=
Solutions
orchestra answered 1 year agoRelated Solutions
A professor in the school of business at a certain university wants to investigate the claim...
A professor in the
school of business at a certain university wants to investigate the
claim that the prices of new textbooks in the campus store are
higher than a competing national online bookstore by more than 50
cents. The professor randomly chooses required texts for 12
business school courses. Use α=0.05α=0.05. The data is given in the
table below.
Book
Campus Store
Online Store
A
108.51
109.42
B
200.06
201.93
C
223.52
226.39
D
186.12
183.9
E
121.65
122.13...
A professor in the school of business at a certain university wants to investigate the claim...
A professor in the
school of business at a certain university wants to investigate the
claim that the prices of new textbooks in the campus store are
higher than a competing national online bookstore. The professor
randomly chooses required texts for 12 business school courses. The
data is given in the table below.
Book Number
Campus Store
Online Store
Book 1
125.45
124.27
Book 2
88.37
86.21
Book 3
230.98
229.6
Book 4
151.8
153.02
Book 5
236.44
237.4
Book...
A professor in the School of Business wants to investigate the prices of new textbooks in...
A professor in the School of Business wants to investigate the
prices of new textbooks in the campus bookstore and the Internet.
The professor randomly chooses the required texts for 12 business
school courses and compares the prices in the two stores. The
results are as follows:
Book
Campus Store
Internet Price
1
$55.00
$50.95
2
47.50
45.75
3
50.50
50.95
4
38.95
38.50
5
58.70
56.25
6
49.90
45.95
7
39.95
40.25
8
41.50
39.95
9
42.25
43.00
10...
A professor in the School of Business wants to investigate the prices of new textbooks in...
A professor in the School of Business wants to investigate the
prices of new textbooks in the campus bookstore and the Internet.
The professor randomly chooses the required texts for 12 business
school courses and compares the prices in the two stores. The
results are as follows:
Book
Campus Store
Internet Price
1
$55.00
$50.95
2
47.50
45.75
3
50.50
50.95
4
38.95
38.50
5
58.70
56.25
6
49.90
45.95
7
39.95
40.25
8
41.50
39.95
9
42.25
43.00
10...
A professor in the School of Business wants to investigate the prices of new textbooks in...
A professor in the School of Business wants to investigate the
prices of new textbooks in the campus bookstore and the Internet.
The professor randomly chooses the required texts for 12 business
school courses and compares the prices in the two stores. The
results are as follows:
Book
Campus Store
Internet Price
1
$55.00
$50.95
2
47.50
45.75
3
50.50
50.95
4
38.95
38.50
5
58.70
56.25
6
49.90
45.95
7
39.95
40.25
8
41.50
39.95
9
42.25
43.00
10...
Richard Thaler, (Professor, The University of Chicago Booth School of Business) said: “We failed to learn...
Richard
Thaler, (Professor, The University of Chicago Booth School of
Business) said: “We failed to learn from the hedge fund failures of
the late ’90s.” His message (Links to an external site.)to
overconfident risk managers: There’s more risk out there than you
think.
a) What do you
think of Wall Street (or any financial markets)? Do we need Wall
Street? Why or Why not?
b) What is
"The Paradox of Thrift"? How does that apply to our current
situation?
Richard Thaler, (Professor, The University of Chicago Booth School of Business) said: “We failed to learn...
Richard Thaler, (Professor, The University of Chicago Booth
School of Business) said: “We failed to learn from the hedge fund
failures of the late ’90s.” His message (Links to an external
site.)to overconfident risk managers: There’s more risk out there
than you think.
a) What do you think of Wall Street (or any financial markets)?
Do we need Wall Street? Why or Why not?
b) What is "The Paradox of Thrift"? How does that apply to our
current situation?
2. A statistic professor wants to investigate that there is a difference between a man's height...
2. A statistic professor wants to investigate that there
is a difference between a man's height and a woman's height at SMC.
She gathered 23 female statistics students in her class and found
their mean height is 64.217 inches and their standard deviation is
2.2755 inches. On the other hand, there were 12 male statistics
students who were asked their height; their mean height is 67.833
inches and the standard deviation is 3.738
inches.
Construct a 95% confidence interval estimate...
In a university 20% students belong to the school of business (B), 15% to the school...
In a university 20% students belong to the school of business
(B), 15% to the school of
engineering(E) and 30% belong to the school of social sciences(S).
Of the school of
business students 35% have taken a statistics course, of the school
of engineering
students 45% have taken a statistics course, and of the school of
social sciences
students, 20% have taken a statistics course. Between the three
schools, what fraction
of students have taken a statistics course (Q)? If...
Question 35 A professor in the Accountancy Department of a business school indicated that there is...
Question 35
A professor in the Accountancy Department of a business school
indicated that there is much more variability in the final exam
scores of students taking the introductory accounting course as a
requirement than for students taking the course as part of their
major. Random samples of 16 non-accounting majors and 10 accounting
majors taken from the professor's class roster in his large lecture
and the following results are computed based on the final exam
scores:
Non-Accounting Major (1)...
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