1. In May 2004, a Gallup Poll of adults’ attitudes toward Health Maintenance Organizations (HMOs) found that 40% of adults had little or no confidence in HMOs, 39% had some confidence, 18% had a great deal of confidence, and 3% had no opinion (USA Today, June 22, 2004). The letters L, S, G, and N will be used to denote these percentages. A recent random sample of 500 adults gave the following distribution of responses.
L S G N
212 198 82 8 Total 500
Perform a Chi Square test using the .01 significance to test the hypothesis (Ho): The current distribution of adults’ attitudes toward HMOs is the same as that of 2004.
a. Find the Critical value (table Value) for Chi square
b. Calculate the Chi Square test statistic for the sample
c. Do you reject or not reject the Ho (Explain what your answer means)
In: Statistics and Probability
A study by a bank compared the mean savings of customers who were depositors for three years or less, with those who had been depositors for more than three years. The results of a sample are:
Depositors 3 years or less, sample size=100, mean saving balance=$1200, Population standard variation=$100
Depositors more than 3 years, sample size=150, mean saving balance=$1250, Population standard variation=$250
At the 0.10 significance level, can we conclude that those who had been depositing for more than three years carry higher balances than those who had been depositing three years or less? What is the p-value? Complete steps below.
A. State the null hypothesis and the alternate hypothesis.
B. State the level of significance.
C. State the test statistic.
D. Formulate the decision rule.
E. Make a decision. Please show your work.
F. Determine the p-value (please show your work); Interpret the result of the hypothesis test.
In: Statistics and Probability
A study by a bank compared the mean savings of customers who were depositors for three years or less, with those who had been depositors for more than three years. The results of a sample are:
Depositors 3 years or less, sample size=100, mean saving balance=$1200, Population standard variation=$100
Depositors more than 3 years, sample size=150, mean saving balance=$1250, Population standard variation=$250
At the 0.10 significance level, can we conclude that those who had been depositing for more than three years carry higher balances than those who had been depositing three years or less? What is the p-value? Complete steps below.
A. State the null hypothesis and the alternate hypothesis.
B. State the level of significance.
C. State the test statistic.
D. Formulate the decision rule.
E. Make a decision. Please show your work.
F. Determine the p-value (please show your work); Interpret the result of the hypothesis test.
In: Statistics and Probability
An Oxxo has a small parking lot with three spaces reserved for
customers. If the store is open cars arrive and use a space with an
average rate of 2 per hour. For n = 0, 1, 2, 3, the probability P n
of that there are exactly n spaces occupied is P 0 = 0.1, P 1 =
0.2, P 2 = 0.4, P 3 = 0.3.
a) Describe the interpretation of this parking lot as a queuing
system, that is, describe the parameters indicated. What level of
service is provided?
b) Determine the basic performance measures: L and W of this
queuing system.
In: Statistics and Probability
Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a Roth IRA. In 2019, their AGI before any IRA contributions deductions is $50,000. Harriet earned $46,000 and Harry earned $4,000.
a. How much can Harriet contribute to her Roth IRA if they file a joint return?
b. How much can Harriet contribute if she files a separate return?
c. How much can Harry contribute to his Roth IRA if they file separately?
In: Accounting
In a barber, the rate for the number of customers is 3 per hour. On average, the barber can serve customers at a rate of one every 15 minutes.
A) Find an average number of the customers in the barber (system) and queue?
B) Find average waiting time in the barber and queue?
C) What is the probability that the barber be empty?
D) What is the probability that exactly 2 customers present in the system?
C) with which probability that the number of customers in the system can be between 7 and 10?
In: Other
Company MNO generates between 11000 and 15000 million dollars revenue per year. Suppose that the company's revenue stays within this range. Use an interest rate of 9.75% per year compounded continuously. Fill in the blanks in the paragraph below, rounding your answers to the nearest tenth.
The present value of MNO's revenue over a five year period is
between _______________ and ______________ million dollars.
Over a twenty-five year period, the present value falls between ____________ and _____________ million dollars
In: Math
section 10.4
Medical research has shown that repeated wrist extension beyond 20 degrees increases the risk of wrist and hand injuries. Each of 24 students at a university used a proposed new computer mouse design. While using the mouse, each student's wrist extension was recorded. Data consistent with summary values given in a paper are given. Use these data to test the hypothesis that the mean wrist extension for people using this new mouse design is greater than 20 degrees. (Use
? = 0.05.
Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to three decimal places.)
27 26 25 24 27 28 28 25 25 25 28 26
22 28 25 26 27 24 31 28 26 27 27 28
t =
P-value =
In: Statistics and Probability
Q = 2,000 – 10(P)
Q = quantity of repairs demanded by customers per week.
P = average price per repair.
John chooses the price to charge to his customers (cause). The result (effect) will be the total number of repairs his customers want per week.
A. Draw the demand curve faced by John the plumber. Numerically label its two end points.
B. Create the table of numbers: P Q TR MR
P = average price per repair. You may skip numbers for price changes by $10 at a time.
TR = Total Revenue = PQ
MR = Marginal Revenue = (change in TR)/(change in Q)
Draw the MR curve on the diagram, as well/
C. The MC (Marginal Cost) to John per repair is $20. What price (P) will be charged per repair, and how many repairs (Q) per week? Show it on your diagram with solved numbers.
D. Label the Consumer Surplus on your diagram. Define Consumer Surplus, as well.
In: Economics
5. John the plumber has the following weekly demand for repairs by his business: Q = 2,000 – 10(P) Q = quantity of repairs demanded by customers per week. P = average price per repair. John chooses the price to charge to his customers (cause). The result (effect) will be the total number of repairs his customers want per week.
A. Draw the demand curve faced by John the plumber. Numerically label its two end points.
B. Create the table of numbers: P Q TR MR P = average price per repair. You may skip numbers for price changes by $10 at a time. TR = Total Revenue = PQ MR = Marginal Revenue = (change in TR)/(change in Q) Draw the MR curve on the diagram, as well/
C. The MC (Marginal Cost) to John per repair is $20. What price (P) will be charged per repair, and how many repairs (Q) per week? Show it on your diagram with solved numbers.
D. Label the Consumer Surplus on your diagram. Define Consumer Surplus, as well.
In: Economics