Meaghan wants to study her friends’ drinking habits. Meaghan knows that people drink, on average, 0.6 alcoholic beverages per day, with standard deviation 0.5. Meaghan investigates how many alcoholic drinks her 49 friends drink. Meaghan finds that her group of friends drinks, on average, 0.7 alcoholic beverages per day. Do Meaghan’s friends’ drinking habits differ significantly from people in general. In the provided space, type in the answers to the following questions.

1. Which statistical test would you use to solve this problem?

2. State the null and alternative hypotheses in words.

3. Locate the critical value that defines the critical region.

4. Calculate your statistic.

5. Make a decision with respect to the null hypothesis.

6. Write a concluding sentence in everyday language.

7. Calculate and evaluate Cohen’s d.

1.The following probability distribution lists the probability of getting a certain number of questions correct on a five question True/False quiz.

Five-question true/false quiz

( x = number correct)

x P(x)

0 0.03125

1 0.15625

2 0.3125

3 0.3125

4 0.15625

5 0.03125

1A. What is the mean of the probability distribution?

1B. What is the standard deviation?

1C. What is the probability of getting more than 3 questions correct?

2.

2A. The probability that a student passes a certain math exam in 0.7. If the exam is given to 15 students, find the probability that at least 12 of them pass? Hint: This is binomial calculator

2B.On a typical day a credit union opens 5 new accounts. Find the probability that the credit union opens exactly 6 accounts in the next two days. Hint: Use Poisson calculator

Plant Food Case

A garden center wishes to determine if there are in fact differences in the effect of three different brands of plant food on the growth of sunflowers and the rank of their effectiveness in promoting growth. To do so, they selected 15 sunflower seedlings at random from the greenhouse and fed 5 of the seedlings with Plant Food A, 5 with Plant Food B, and 5 with Plant Food C. The weekly growth of each seedling was measured in inches and is summarized below.

1. Describe the purpose of the study
2. Conduct a Single Factor Analysis of Variance Hypothesis Test at alpha =.05
3. Explain the method used to set up and conduct the test
4. Describe the results
5. State a conclusion
6. Justify the conclusion

Question 3

A valuable property of the ln (natural logarithm) function is that:

Question 3 options:

Question 4

Suppose you estimate the following regression model using OLS: Y_i = β₀ + β₁X_i + β₂X_i² + β₃X_i³+ u_i. You estimate that β₃has a value of 0.6 with a standard error of 0.7. This implies:

Question 4 options:

Imagine an alternate universe where the value of the Planck constant is 6.62607·10^8 J·s

.In that universe, which of the following objects would require quantum mechanics to describe, that is, would show both particle and wave properties? Which objects would act like everyday objects, and be adequately described by classical mechanics?

1. A buckyball with a mass of 1.2 x 10^-21 g, 0.7 nm wide, moving at 16. m/s.

Classical or Quantum

2. An airplane with a mass of 1.58 x 10⁴ kg, 13.0 m long, moving at 800. km/h.

Classical or Quantum

3. A turtle with a mass of 720. g, 28. cm long, moving at 1.7 cm/s.

Classical or Quantum

4. An eyelash mite with a mass of 11.8 µg, 340 µm wide, moving at 50. µm/s.

Classical or Quantum

MCO Leather Goods manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $14 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $17,000 per month. The company’s policy is to end each month with direct materials inventory equal to 20% of the next month’s materials requirement. At the end of August the company had 4,180 pounds of direct materials in inventory. The company’s production budget reports the following.

(1) Prepare direct materials budgets for September and October.
(2) Prepare direct labor budgets for September and October.
(3) Prepare factory overhead budgets for September and October.

Question 4

1).Suppose you have $200,000 in a bank term account. You earn 5% interest per annum from this account. You anticipate that the inflation rate will be 4% during the year. However, the actual inflation rate for the year is 6%.

Calculate the impact of inflation on the bank term deposit you have and examine the effects of inflation in your city of residence with attention to food and accommodation expenses.

2) The Australian Bureau of Statistics (ABS) reported in May 2017 that the civilian population in Australia over 15 years of age was 20.8 million.

Of this population of 20.8 million Australians, 13.5 million were employed and 0.7 million were unemployed.

Calculate Australia’s labor force and the number of people in the civilian population who were not in the labor force? Also, with examples examine the causes of structural unemployment in Australia

1. Which of the following statements is NOT true about the Revenue Management?
a. Revenue management is based on setting and updating prices.
b. Revenue management is originated in the airline industry.
c. Through revenue management, the firms can allocate their capacity to different fare classes over time in order to maximize revenue.
d. Revenue management focuses on shaping demand via controlling supply under the limited capacity.

2. According to the Littlewood’s Rule, which of the following does NOT generate pressure to increase the booking limit?
a. Increase in the full-fare price
b. Increase in the discount-fare price
c. Increase in the plane capacity
d. Decrease in the average full-fare demand

3. A hotel has 200 rooms and the historical show rate is 90%. What will be the (closest) optimal overbooking level given by the deterministic overbooking heuristic?
a. 222
b. 180
c. 200
d. None of the above
e. 220

A survey found that​ women's heights are normally distributed with mean 62.6 in. and standard deviation 2.6 in. The survey also found that​ men's heights are normally distributed with a mean 67.6 in. and standard deviation 2.7. Complete parts a through c below.

a. Most of the live characters at an amusement park have height requirements with a minimum of 4 ft 9 in. and a maximum of 6 ft 3 in. Find the percentage of women meeting the height requirement.

The percentage of women who meet the height requirement is__​%.

​(Round to two decimal places as​ needed.)

b. Find the percentage of men meeting the height requirement.

The percentage of men who meet the height requirement is__%.

​(Round to two decimal places as​ needed.)

c. If the height requirements are changed to exclude only the tallest​ 5% of men and the shortest​ 5% of​ women, what are the new height​ requirements?

The new height requirements are at least__in. and at most__in.

(Round to one decimal place as needed.)

The GDP is an inaccurate measure of wellbeing because:

Which of the following items is counted toward US GDP

A used textbook buyer who has been laid off because students can sell used textbooks online is an example of

Full employment means