Hypothesis Testing in Business Statistics

Please answer all questions. Please show all your work (detailed solution) so i can understand how you came up with the anwer. Thanks

(See attached file for full problem description)

Don't use plagiarized sources. Get Your Custom Essay on
Hypothesis Testing in Business Statistics
From $10/Page
Order Essay


EXHIBIT 1: A manager at a local bank analyzed the relationship between monthly salary and three independent variables: length of service (measured in months), gender (0=female, 1=male) and job type (0=clerical, 1=technical). The following tables summarizes the regression results:

df SS MS F
Regression SS 3 1004346.771 334782.257 5.96
Unexplained SS 26 1461134.596 56197.48445

Coefficients Standard Error t Stat P-Value
Constant 784.92 322.25 2.44 0.02
Service 9.19 3.20 2.87 0.01
Gender 222.78 89.00 2.50 0.02
Job -28.21 89.61 -0.31 0.76

(1) Referencing Exhibit 1, based on the SS table and 0.05 significance level, the global null hypothesis test of the multiple regression model (2 points):
(a) Will be rejected and conclude that monthly salary is related to all the independent variables
(b) Will be rejected and conclude that monthly salary is related to at least one of the independent variables
(c) Will not be rejected
(d) Will show a high multiple coefficient of determination
(e) Cannot be ascertained given the above information ______________

(2) Referencing Exhibit 1, the adjusted multiple coefficient of determination is (3 points):
(a) 5.93%
(b) 59.3 %
(c) 40.7 %
(d) 33.9%
(e) None of the above ________________

(3) Referencing Exhibit 1, based on hypothesis tests for the individual regression coefficients at a 5% significance level (2 points),
(a) All the regression coefficients are not equal to zero,
(b) “Job” is the only significant independent variable in the model
(c) Only “Service” and “Gender” are significantly related to monthly salary
(d) “Service” is the only significant variable in the model
(e) None of the variables are significant ________________

(4) Referencing Exhibit 1, which of the variables are dummy variables in the model (2 points)?
(a) Salary
(b) Service
(c) Service and gender
(d) Gender and job
(e) Service, gender and job ________________

(5) Referencing Exhibit 1, the results for the variable “Gender” show (2 points)
(a) Males average $222.78 more than females in monthly salary
(b) Females average $222.78 more than males in monthly salary
(c) Gender is not related to monthly salary
(d) Gender and months of service are correlated ________________

(6) A survey of 144 retail stores revealed that a particular brand and model of a VCR retails for $375 with a standard deviation of $20. What is a 99% confidence interval to estimate the true cost of the VCR?

_____________________

(7) A survey of an urban university (population 25,450) showed that 870 of 1100 students sampled supported a fee increase to fund improvements to the student recreation center. Using the 95% level of confidence, what is the confidence interval for the true proportion who support the fee increase?

_____________________

(8)The average cost of tuition, room and board at small private liberal arts colleges is reported to be $8,500 per term but a financial administrator believes that the average cost is higher. A study conducted using 150 small liberal arts colleges showed that the average cost per term is $9,000 with a standard deviation of $1,200. What is the decision at 0.05 level of significance?

_____________________

(9) The mean weight of newborn infants at a community hospital is 6.6 pounds. A sample of seven infants is randomly selected and their weights are recorded as 9.0; 7.3; 6.0; 8.8; 6.8; 8.4; and 6.6 pounds. What is the decision for a statistical significant change in average weights at birth at the 5% level of significance?

_____________________

(10) A manufacturer of automobile transmissions uses three different processes. The management ordered a study of the production costs to see if there is a difference among the three processes. A summary of the findings is shown below.
Process 1 Process 2 Process 3
Process Totals ($ 100’s) 137 108 107
Sample Size 10 10 10
Sum of Squares 1893 1188 1175
What is the sum of squares for treatments?
_____________________
For problem 10, what is the sum of squares for error?
_____________________
For problem 10, what is your conclusion at alpha = .05?

_____________________

(11) A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of sales. To verify this belief, the following data was collected:

Salesperson # of Contacts Sales ($ ‘000)
1 14 24
2 12 14
3 20 28
4 16 30
5 46 80
6 23 30
7 48 90
8 50 85
9 55 120
10 50 110

What is the value of coefficient of determination ?

_____________________

For problem 11, what is the regression equation?
_____________________

(See attached file for full problem description) Solution Preview
EXHIBIT 1: A manager at a local bank analyzed the relationship between monthly salary and three independent variables: length of service (measured in months), gender (0=female, 1=male) and job type (0=clerical, 1=technical). The following tables summarize the regression results:

df SS MS F
Regression SS 3 1004346.771 334782.257 5.96
Unexplained SS 26 1461134.596 56197.48445
Total SS 29 2465481.367

Coefficients Standard Error t Stat P-Value
Constant 784.92 322.25 2.44 0.02
Service 9.19 3.20 2.87 0.01
Gender 222.78 89.00 2.50 0.02
Job -28.21 89.61 -0.31 0.76

(1) Referencing Exhibit 1, based on the SS table and 0.05 significance level, the global null hypothesis test of the multiple regression model (2 points):
(a) Will be rejected and conclude that monthly salary is related to all the independent variables
(b) Will be rejected and conclude that monthly salary is related to at least one of the independent variables
(c) Will not be rejected
(d) Will show a high multiple coefficient of determination
(e) Cannot be ascertained given the above information ______________

Solution: We see that the
Table F(3,26, 5% level) = 2.9752 and calculated F-value = 5.96
Clearly, calculated value is greater than table F-value at 5% level of significance.
Hence we reject the null hypothesis Ho.
Answer b) Ho will be rejected and conclude that the monthly salary is related to at least one of the independent variables.

(2) Referencing Exhibit 1, the adjusted multiple coefficient of determination is (3 points):
(a) 5.93%
(b) 59.3 %
(c) 40.7 %
(d) 33.9%
(e) None of the above ________________

Solution:

Coefficient of determination r2 = Unexplained SS/ Total SS

=> r2 = 1461134.596 / 2465481.367 = 0.5926 ~ 0.593 or 59.3 %

(3) Referencing Exhibit 1, based on hypothesis tests for the individual regression coefficients at a 5% significance level (2 …

Solution Summary
Detailed solution about hypothesis testing with with different sample sizes. There are detailed solutions to all 11 questions in a word document.

To continue with the answer check on mycoursewriter.com/

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 20% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with My Course Writer
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 10k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Psychology
On point! Appreciate all the hard work!!
Customer 452483, August 16th, 2021
Group Dynamics
Great job. I appreciate it.
Customer 452521, November 22nd, 2021
Communications
Well done! I thank you very much!
Customer 452483, July 9th, 2021
Communications
Thank you for your hard work; I enjoyed reading the essay and appreciate your writing.
Customer 452483, July 18th, 2021
Sociology
Perfect! Appreciate all of your help! Thank you so much!
Customer 452483, November 14th, 2021
Psychology
Very clear, and complete information presented. I, thank you for all of your hard work, appreciate it!
Customer 452483, August 9th, 2021
Introduction to Sociology
Amazing! Thank you so much for your hard work, appreciate it!!
Customer 452483, October 24th, 2021
Psychology
Thank you so much for all of your hard work & help! It’s perfect! Appreciate it!!
Customer 452483, September 11th, 2021
English 101
Perfect! Very informative! Appreciate all of your hard work! Thank you very much.
Customer 452483, September 22nd, 2021
Mathematics
Job WELL DONE! Thank You very much!!
Customer 452483, July 12th, 2021
Healthcare Writing & Communications
Perfect! Thank you so much for all of your help!
Customer 452483, October 31st, 2021
Microbiology
Appreciate all of your hard work! Thank you so much!!
Customer 452483, September 14th, 2021
1159
Customer reviews in total
96%
Current satisfaction rate
2 pages
Average paper length
47%
Customers referred by a friend
OUR GIFT TO YOU
20% OFF your first order
Use a coupon 20OFF and enjoy expert help with any task at the most affordable price.
Claim my 20% OFF Order in Chat
Open chat
Chat with us Live Here
Get in Touch with Our Live Chat Agents via WhatsApp on +1(346) 416-0954. Get Unlimited Access to Answers on Any Queries With Your Paper.