Question\u00a01\tA\u00a0group\u00a0of\u00a0investors\u00a0wants\u00a0to\u00a0develop\u00a0a\u00a0chain\u00a0of\u00a0fast-food\u00a0restaurants.\u00a0In\u00a0determining\u00a0potential\u00a0costs\u00a0for\u00a0each\u00a0facility,\u00a0they\u00a0must\u00a0consider,\u00a0among\u00a0other\u00a0expenses,\u00a0the\u00a0average\u00a0monthly\u00a0electric\u00a0bill.\u00a0They\u00a0decide\u00a0to\u00a0sample\u00a0some\u00a0fast-food\u00a0restaurants\u00a0currently\u00a0operating\u00a0to\u00a0estimate\u00a0the\u00a0monthly\u00a0cost\u00a0of\u00a0electricity.\u00a0They\u00a0want\u00a0to\u00a0be\u00a090%\u00a0confident\u00a0of\u00a0their\u00a0results\u00a0and\u00a0want\u00a0the\u00a0error\u00a0of\u00a0the\u00a0interval\u00a0estimate\u00a0to\u00a0be\u00a0no\u00a0more\u00a0than\u00a0$100.\u00a0They\u00a0estimate\u00a0that\u00a0such\u00a0bills\u00a0range\u00a0from\u00a0$600\u00a0to\u00a0$2,500.\u00a0How\u00a0large\u00a0a\u00a0sample\u00a0should\u00a0they\u00a0take?\tQuestion\u00a02\tSuppose\u00a0a\u00a0study\u00a0reports\u00a0that\u00a0the\u00a0average\u00a0price\u00a0for\u00a0a\u00a0gallon\u00a0of\u00a0self-serve\u00a0regular\u00a0unleaded\u00a0gasoline\u00a0is\u00a0$3.16.\u00a0You\u00a0believe\u00a0that\u00a0thefigure\u00a0is\u00a0higher\u00a0in\u00a0your\u00a0area\u00a0of\u00a0the\u00a0country.\u00a0You\u00a0decide\u00a0to\u00a0test\u00a0this\u00a0claim\u00a0for\u00a0your\u00a0part\u00a0of\u00a0the\u00a0United\u00a0States\u00a0by\u00a0randomly\u00a0calling\u00a0gasoline\u00a0stations.\u00a0Your\u00a0random\u00a0survey\u00a0of\u00a025\u00a0stations\u00a0produces\u00a0the\u00a0following\u00a0prices\u00a0(all\u00a0in\u00a0$).\u00a0Assume\u00a0gasoline\u00a0prices\u00a0for\u00a0a\u00a0region\u00a0are\u00a0normally\u00a0distributed.\u00a0Do\u00a0the\u00a0data\u00a0you\u00a0obtained\u00a0provide\u00a0enough\u00a0evidence\u00a0to\u00a0reject\u00a0the\u00a0claim?\u00a0Use\u00a0a\u00a01%\u00a0level\u00a0of\u00a0significance.\t3.27\u00a03.29\u00a03.20\u00a03.23\u00a03.16\u00a03.07\u00a03.15\u00a03.23\u00a03.21\u00a03.14\tQuestion\u00a03\t3.16\u00a03.20\u00a03.37\u00a03.19\u00a03.20\u00a03.24\u00a03.27\u00a03.09\u00a03.35\u00a03.14\u00a03.05\u00a03.35\u00a03.14\u00a03.07\u00a03.10\tWhere\u00a0do\u00a0CFOs\u00a0get\u00a0their\u00a0money\u00a0news?\u00a0According\u00a0to\u00a0Robert\u00a0Half\u00a0International,\u00a047%\u00a0get\u00a0their\u00a0money\u00a0news\u00a0from\u00a0newspapers,\u00a015%\u00a0get\u00a0it\u00a0from\u00a0communication\/colleagues,\u00a012%\u00a0get\u00a0it\u00a0from\u00a0television,\u00a011%\u00a0from\u00a0the\u00a0Internet,\u00a09%\u00a0from\u00a0magazines,\u00a05%\u00a0from\u00a0radio,\u00a0and\u00a01%\u00a0do\u00a0not\u00a0know.\u00a0Suppose\u00a0a\u00a0researcher\u00a0wants\u00a0to\u00a0test\u00a0these\u00a0results.\u00a0She\u00a0randomly\u00a0samples\u00a067\u00a0CFOs\u00a0and\u00a0finds\u00a0that\u00a040\u00a0of\u00a0them\u00a0get\u00a0their\u00a0money\u00a0news\u00a0from\u00a0newspapers.\u00a0Does\u00a0the\u00a0test\u00a0show\u00a0enough\u00a0evidence\u00a0to\u00a0reject\u00a0the\u00a0findings\u00a0of\u00a0Robert\u00a0Half\u00a0International?\u00a0Use\u00a0a\u00a0=\u00a0.05.\tQuestion\u00a04\tTo\u00a0answer\u00a0this\u00a0question,\u00a0use\u00a0the\u00a0Data\u00a0Analysis\u00a0Toolpack\u00a0in\u00a0Excel\u00a0and\u00a0select\u00a0“t-Test:\u00a0Two-Sample\u00a0Assuming\u00a0Equal\u00a0Variances”\ufffd\u00a0from\u00a0the\u00a0list\u00a0of\u00a0available\u00a0tools.\u00a0Explain\u00a0your\u00a0answer\u00a0(how\u00a0did\u00a0you\u00a0decide\u00a0if\u00a0men\u00a0spend\u00a0more)\u00a0and\u00a0include\u00a0the\u00a0output\u00a0table.\u00a0Some\u00a0studies\u00a0have\u00a0shown\u00a0that\u00a0in\u00a0the\u00a0United\u00a0States,\u00a0men\u00a0spend\u00a0more\u00a0than\u00a0women\u00a0buying\u00a0gifts\u00a0and\u00a0cards\u00a0on\u00a0Valentine’s\u00a0Day.\u00a0Suppose\u00a0a\u00a0researcher\u00a0wants\u00a0to\u00a0test\u00a0this\u00a0hypothesis\u00a0by\u00a0randomly\u00a0sampling\u00a0nine\u00a0men\u00a0and\u00a010\u00a0women\u00a0with\u00a0comparable\u00a0demographic\u00a0characteristics\u00a0from\u00a0various\u00a0large\u00a0cities\u00a0across\u00a0the\u00a0United\u00a0States\u00a0to\u00a0be\u00a0in\u00a0a\u00a0study.\u00a0Each\u00a0study\u00a0participant\u00a0is\u00a0asked\u00a0to\u00a0keep\u00a0a\u00a0log\u00a0beginning\u00a0one\u00a0month\u00a0before\u00a0Valentine’s\u00a0Day\u00a0and\u00a0record\u00a0all\u00a0purchases\u00a0made\u00a0for\u00a0Valentine’s\u00a0Day\u00a0during\u00a0that\u00a0one-month\u00a0period.\u00a0The\u00a0resulting\u00a0data\u00a0are\u00a0shown\u00a0below.\u00a0Use\u00a0these\u00a0data\u00a0and\u00a0a\u00a01%\u00a0level\u00a0of\u00a0significance\u00a0to\u00a0test\u00a0to\u00a0determine\u00a0if,\u00a0on\u00a0average,\u00a0men\u00a0actually\u00a0do\u00a0spend\u00a0significantly\u00a0more\u00a0than\u00a0women\u00a0on\u00a0Valentine’s\u00a0Day.\u00a0Assume\u00a0that\u00a0such\u00a0spending\u00a0is\u00a0normally\u00a0distributed\u00a0in\u00a0the\u00a0population\u00a0and\u00a0that\u00a0the\u00a0population\u00a0variances\u00a0are\u00a0equal.\tMen\u00a0Women\t107.48\u00a0125.98\u00a0143.61\u00a045.53\u00a090.19\u00a056.35\u00a0125.53\u00a080.62\u00a070.79\u00a046.37\u00a083.00\u00a044.34\u00a0129.63\u00a075.21\u00a0154.22\u00a068.48\u00a093.80\u00a085.84\t126.11<\/p>\n","protected":false},"excerpt":{"rendered":"
Question\u00a01 A\u00a0group\u00a0of\u00a0investors\u00a0wants\u00a0to\u00a0develop\u00a0a\u00a0chain\u00a0of\u00a0fast-food\u00a0restaurants.\u00a0In\u00a0determining\u00a0potential\u00a0costs\u00a0for\u00a0each\u00a0facility,\u00a0they\u00a0must\u00a0consider,\u00a0among\u00a0other\u00a0expenses,\u00a0the\u00a0average\u00a0monthly\u00a0electric\u00a0bill.\u00a0They\u00a0decide\u00a0to\u00a0sample\u00a0some\u00a0fast-food\u00a0restaurants\u00a0currently\u00a0operating\u00a0to\u00a0estimate\u00a0the\u00a0monthly\u00a0cost\u00a0of\u00a0electricity.\u00a0They\u00a0want\u00a0to\u00a0be\u00a090%\u00a0confident\u00a0of\u00a0their\u00a0results\u00a0and\u00a0want\u00a0the\u00a0error\u00a0of\u00a0the\u00a0interval\u00a0estimate\u00a0to\u00a0be\u00a0no\u00a0more\u00a0than\u00a0$100.\u00a0They\u00a0estimate\u00a0that\u00a0such\u00a0bills\u00a0range\u00a0from\u00a0$600\u00a0to\u00a0$2,500.\u00a0How\u00a0large\u00a0a\u00a0sample\u00a0should\u00a0they\u00a0take? Question\u00a02 Suppose\u00a0a\u00a0study\u00a0reports\u00a0that\u00a0the\u00a0average\u00a0price\u00a0for\u00a0a\u00a0gallon\u00a0of\u00a0self-serve\u00a0regular\u00a0unleaded\u00a0gasoline\u00a0is\u00a0$3.16.\u00a0You\u00a0believe\u00a0that\u00a0thefigure\u00a0is\u00a0higher\u00a0in\u00a0your\u00a0area\u00a0of\u00a0the\u00a0country.\u00a0You\u00a0decide\u00a0to\u00a0test\u00a0this\u00a0claim\u00a0for\u00a0your\u00a0part\u00a0of\u00a0the\u00a0United\u00a0States\u00a0by\u00a0randomly\u00a0calling\u00a0gasoline\u00a0stations.\u00a0Your\u00a0random\u00a0survey\u00a0of\u00a025\u00a0stations\u00a0produces\u00a0the\u00a0following\u00a0prices\u00a0(all\u00a0in\u00a0$).\u00a0Assume\u00a0gasoline\u00a0prices\u00a0for\u00a0a\u00a0region\u00a0are\u00a0normally\u00a0distributed.\u00a0Do\u00a0the\u00a0data\u00a0you\u00a0obtained\u00a0provide\u00a0enough\u00a0evidence\u00a0to\u00a0reject\u00a0the\u00a0claim?\u00a0Use\u00a0a\u00a01%\u00a0level\u00a0of\u00a0significance. 3.27\u00a03.29\u00a03.20\u00a03.23\u00a03.16\u00a03.07\u00a03.15\u00a03.23\u00a03.21\u00a03.14 Question\u00a03 3.16\u00a03.20\u00a03.37\u00a03.19\u00a03.20\u00a03.24\u00a03.27\u00a03.09\u00a03.35\u00a03.14\u00a03.05\u00a03.35\u00a03.14\u00a03.07\u00a03.10 Where\u00a0do\u00a0CFOs\u00a0get\u00a0their\u00a0money\u00a0news?\u00a0According\u00a0to\u00a0Robert\u00a0Half\u00a0International,\u00a047%\u00a0get\u00a0their\u00a0money\u00a0news\u00a0from\u00a0newspapers,\u00a015%\u00a0get\u00a0it\u00a0from\u00a0communication\/colleagues,\u00a012%\u00a0get\u00a0it\u00a0from\u00a0television,\u00a011%\u00a0from\u00a0the\u00a0Internet,\u00a09%\u00a0from\u00a0magazines,\u00a05%\u00a0from\u00a0radio,\u00a0and\u00a01%\u00a0do\u00a0not\u00a0know.\u00a0Suppose\u00a0a\u00a0researcher\u00a0wants\u00a0to\u00a0test\u00a0these\u00a0results.\u00a0She\u00a0randomly\u00a0samples\u00a067\u00a0CFOs\u00a0and\u00a0finds\u00a0that\u00a040\u00a0of\u00a0them\u00a0get\u00a0their\u00a0money\u00a0news\u00a0from\u00a0newspapers.\u00a0Does\u00a0the\u00a0test\u00a0show\u00a0enough\u00a0evidence\u00a0to\u00a0reject\u00a0the\u00a0findings\u00a0of\u00a0Robert\u00a0Half\u00a0International?\u00a0Use\u00a0a\u00a0=\u00a0.05. Question\u00a04 To\u00a0answer\u00a0this\u00a0question,\u00a0use\u00a0the\u00a0Data\u00a0Analysis\u00a0Toolpack\u00a0in\u00a0Excel\u00a0and\u00a0select\u00a0“t-Test:\u00a0Two-Sample\u00a0Assuming\u00a0Equal\u00a0Variances”\ufffd\u00a0from\u00a0the\u00a0list\u00a0of\u00a0available\u00a0tools.\u00a0Explain\u00a0your\u00a0answer\u00a0(how\u00a0did\u00a0you\u00a0decide\u00a0if\u00a0men\u00a0spend\u00a0more)\u00a0and\u00a0include\u00a0the\u00a0output\u00a0table.\u00a0Some\u00a0studies\u00a0have\u00a0shown\u00a0that\u00a0in\u00a0the\u00a0United\u00a0States,\u00a0men\u00a0spend\u00a0more\u00a0than\u00a0women\u00a0buying\u00a0gifts\u00a0and\u00a0cards\u00a0on\u00a0Valentine’s\u00a0Day.\u00a0Suppose\u00a0a\u00a0researcher\u00a0wants\u00a0to\u00a0test\u00a0this\u00a0hypothesis\u00a0by\u00a0randomly\u00a0sampling\u00a0nine\u00a0men\u00a0and\u00a010\u00a0women\u00a0with\u00a0comparable\u00a0demographic\u00a0characteristics\u00a0from\u00a0various\u00a0large\u00a0cities\u00a0across\u00a0the\u00a0United\u00a0States\u00a0to\u00a0be\u00a0in\u00a0a\u00a0study.\u00a0Each\u00a0study\u00a0participant\u00a0is\u00a0asked\u00a0to\u00a0keep\u00a0a\u00a0log\u00a0beginning\u00a0one\u00a0month\u00a0before\u00a0Valentine’s\u00a0Day\u00a0and\u00a0record\u00a0all\u00a0purchases\u00a0made\u00a0for\u00a0Valentine’s\u00a0Day\u00a0during\u00a0that\u00a0one-month\u00a0period.\u00a0The\u00a0resulting\u00a0data\u00a0are\u00a0shown\u00a0below.\u00a0Use\u00a0these\u00a0data\u00a0and\u00a0a\u00a01%\u00a0level\u00a0of\u00a0significance\u00a0to\u00a0test\u00a0to\u00a0determine\u00a0if,\u00a0on\u00a0average,\u00a0men\u00a0actually\u00a0do\u00a0spend\u00a0significantly\u00a0more\u00a0than\u00a0women\u00a0on\u00a0Valentine’s\u00a0Day.\u00a0Assume\u00a0that\u00a0such\u00a0spending\u00a0is\u00a0normally\u00a0distributed\u00a0in\u00a0the\u00a0population\u00a0and\u00a0that\u00a0the\u00a0population\u00a0variances\u00a0are\u00a0equal. Men\u00a0Women 107.48\u00a0125.98\u00a0143.61\u00a045.53\u00a090.19\u00a056.35\u00a0125.53\u00a080.62\u00a070.79\u00a046.37\u00a083.00\u00a044.34\u00a0129.63\u00a075.21\u00a0154.22\u00a068.48\u00a093.80\u00a085.84 126.11<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-217229","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/217229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=217229"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/217229\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=217229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=217229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=217229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}