Suppose that in a given round in an online market experiment, there are a 10 students assigned roles of sellers and 10 assigned roles as buyers. Altogether, they are assigned numbers 1,2,3....22. Each even numbered student is a buyer, and each odd numbered student is a seller. The costs of sellers are twice their student number. The value of buyers is his student number.

a) What is the market clearing quantity?

b) What is the highest possible market clearing price?

c) What is the lowest possible market clearing price?

1. An experiment was conducted to test the effect of different lighting systems and the presence or absence of a watchman on the average number of car burglaries per month at a parking garage. The data are in the following table and also in the file GARAGE, where the variables are named BURGLAR, LIGHTING and WATCHMAN.

1. Using the Lenth procedure, find which effect(s) (if any) appear significant.

effects

2. Interpret all of these significant effects.
3. Permanently upgrading the lighting in the garage will cost $700 per month. Hiring awatchman will cost $3000 per month. It is estimated that lawsuits and loss of business cost on average $2000 per burglary. Is it worth it to hire a watchman, install lights or both?

These are the results of a health experiment that investigated effectiveness of aspirin of reducing heart attacks. This was a placebo eonctrolled study where 22, 071 male doctors in the United States were given either 325 mg or aspirin or placebo pill every other day for 5 years. The following are the data collected over 5 years.

-List 1. the most appropriate statistical test. 2. null and alternative hypotheses. 3. calculate appropriate test statistic. 4. determine critical value. 5. statistical conclusion.

5. It is known that the temperature of a laboratory experiment (X) and the experiment’s percentage yield (Y ) approximately satisfy the linear regression assumptions. The following sample was collected: Temp 110 110 120 130 140 150 160 170 180 190 200 %Yield 45 52 53 59 63 69 74 78 86 89 97 (a) Plot the data and the sample least squares regression line. (b) Interpret the slope of your sample least squares regression line. (c) Given a temperature of 165 what is the expected %yield? (d) Compute a 95% C.I. for βˆ. (e) Interpret the C.I. constructed in (d).

5. It is known that the temperature of a laboratory experiment (X) and the experiment’s percentage yield (Y ) approximately satisfy the linear regression assumptions. The following sample was collected: Temp 110 110 120 130 140 150 160 170 180 190 200 %Yield 45 52 53 59 63 69 74 78 86 89 97 (a) Plot the data and the sample least squares regression line. (b) Interpret the slope of your sample least squares regression line. (c) Given a temperature of 165 what is the expected %yield? (d) Compute a 95% C.I. for βˆ. (e) Interpret the C.I. constructed in (d).

Three groups are tested in an experiment and the results for the measurements are: Group 1: 5, 7, 5, 3, 5, 3, 3, 9 Group 2: 8, 1, 4, 6, 6, 4, 1, 2 Group 3: 7, 3, 4, 5, 2, 2, 3, 3 Test for the equality of the means at 5% significance.

the W's scientist at a pharmacy firm conducted an experiment of study the effectiveness of an herbal compound to treat common cold. individual was exposed to a cold virus, they was given herb or sugar solution. after several days they check each person condition, using a cold severity scale ranging from 0 to 5. no evidence of benfit of the compound

An experiment was conducted to verify the effect of training at the managerial level in decision making. Two factors were considered in experiment A: training level of the individual (if he has training or does not have training) and B: the type of situation for which the individual had to make the decision (normal or emergency situation).

Sixteen supervisors were selected and 8 were chosen randomly to receive management training. After receiving the training, 4 trained supervisors were selected and 4 of them were not trained to act in a normal situation. In the same way, the other group of 8 supervisors was taken to act in an emergency situation. The decision made by each individual was monitored by the researcher and evaluated on a scale from 0 to 100. The results are presented in the following table:

Will there be significant evidence to conclude that the factors are significant? Test α = 0.05 Perform and present your calculations by hand (not Excel, not Minitab, etc.).

1. The collection of all outcomes for an experiment is called ________________________.

2. A compound event includes ___________________________________________.

3. Two equally likely events _____________________________________________.

4. Two mutually exclusive events _________________________________________.

5. Two independent events _____________________________________________.

6. The following table gives the temperatures (in degrees Fahrenheit) at 6 PM and the attendance (rounded to hundreds) at a minor league baseball team's night games on 7 randomly selected evenings in May.

1. Do you think temperature depends on attendance or attendance depends on temperature?

__________________________________________________________________________

2. Construct a scatter diagram for these data. Does the scatter diagram exhibit a linear relationship between the two variables?

_________________________________________________________________________

An experiment is conducted to determine if classes offered in an online format are as effective as classes offered in a traditional classroom setting. Students were randomly assigned to one of the two teaching methods. Final exam scores reported below. a. Test the claim that the standard deviations for the two groups are equal. What is the p-value of the test? b. Construct a 95% confidence interval on the difference in expected final exam scores between the two groups. Does the data support the claim that there is no difference? Do not use mini tab