Use the textbook: The Practice of Statistics for Business and Economics, 2020, Fifth Edition, by Alwan, Craig and McCabe.
Worth: 3 Points+ 1 Bonus Participation Points=4 points (Assignment will evaluate out 3 points and 1 bonus points for submission by Tuesday 2pm)
Q1. Review the four common steps to test of significance described in the textbook page 365 and also review Example 7.15 (IPO Initial Returns).
a) If the sample size decreases from 464 IPO to 125 IPO, then does this change the conclusion?
b) Repeat 7.15 example using 90% confidence interval and show how does choice of confidence interval or alpha affects decision? Describes 4 common steps to get full marks. [Tips: solved 7.15 using four common steps then change sample size and follow the same process]
Q2. Review the four common steps to test of significance described in the textbook page 365 and also review Example 7.12 (Blood pressure of Executives).
a) Using the example information, is this provide evidence that the mean blood pressure for all company’s young male executives is lower than the national average?
b) is this provide evidence that the mean blood pressure for all company’s young male executives is different than the national average? Using the same information, describes 4 common steps to get full marks [Tips: solved 7.14 using four common steps]
Q3. Review 7.53; 7.54 and 7.55 from textbook and answer the following to formulate hypothesis and 7.55, 7.61 to solves the following questions:
a) Prof. Ian Hudson, Head, Dept. of Economics claims that the students in his department are above average intelligence. A random sample of thirty students IQ scores have a mean score of 112.5. Is there sufficient evidence to support the head’s claim? The mean population IQ is 100 with a standard deviation of 15.
b) Manitoba’s Provincial Election commission supposes that at least 80% of the 7,00,000 voters will turn up to vote in upcoming elections. A survey of 100 randomly sampled voters finds that only 71 percent will turn up. How to find the region of acceptance, assuming a significance level of 0.05 or 5%?
c) A sample of 700 people has a mean age of 23 with a population standard deviation (σ) of 8. Test the hypothesis that the population mean is 23.9 at α = 0.05. [Tips: Describes 4 common steps to get full marks]