Business Quantitative Methods Confidence Intervals & Hypothesis Testing 1.1 In the following hypothesis statement below determine whether the 3 points hypothesis test is lower-tailed, upper-tailed, or two-tailed test and What is the parameter that being tested? Statement: HO : # = 5 versus H1: p # 5 Upper-tailed test, population mean Lower-tailed test; population standard deviation Two-tailed test; population mean Two-tailed test; sample mean 1.2 In the following hypothesis statement below determine whether the 2 points hypothesis test is lower-tailed, upper-tailed, or two-tailed test and What is the parameter that being tested? Statement: HO : p20.2 versus H1: p-:0.2 1000 Upper tailed test; population parameter Lower-tailed test; sample proportion two-tailed test; population parameter Lower-tailed test: population proportion 1.3 Suppose you want to estimate the average age of all Boeing 737-300 6 points airplanes now in active domestic RSA service. You want to be 95% confident, and you want your estimate to be within one year of the actual figure. The 737-300 was first placed in service about 24 years ago, but you believe that no active 737-300s in the RSA domestic fleet are more than 20 years old. How large of a sample should you take? the required sample size is 105 The required sample size is 95 The required sample size is 97 0 The required sample size is 82

1.4 According to the Swakopmund Housing Board, the mean price of a 2 points single-family home, in 2010, was N$245.950. A real estate broker believes that because of the credit standing and the interest rate, the mean price has increased since then. Using this information please:(a) State the Null and Alternative hypotheses. HQ: W < 245,950 versus H1: U s 245,950 HO: H > 245,950 versus H1: H s 245,950 HO: H $ 245,950 versus H1: [ > 245,950 HO: H = 245,950 versus H1: H < 245,950 1.5 The volume of Coke in a half-liter bottle of Diet Coke is a normally 7 points distributed random variable. The standard deviation of volume is known to be 1.20 ml. A sample of 10 bottles gives a sample mean volume is 503.4 ml. Construct a 90 percent confidence interval for . 0 0 0 90% confidence interval: [512.88, 513.42]. 90% confidence interval: [500.01, 503.42]. 90% confidence interval: [502.78, 504.02]. 90% confidence interval: [504.45, 505.32]. 1.6 Using the same information in question 1.5, Construct a 99% 5 points confidence interval for . 99% confidence interval: [502.42, 504.38]. 99% confidence interval: [503.11, 504.44]. 99% confidence interval: [501.54, 502.23]. 0 99% confidence interval: [502.98, 504.26].

1.7 A sample of 111 magazine advertisements in Sowetan showed 70 that 3 points listed a website. In Amagubane. a sample of 145 advertisements showed 131 that listed a website. At significance level of 0.025, does the Amagubane proportion differ from the Sowetan proportion by at least 20 percent? Form the list below tick the correct Null and Alterntive hypotheses for this problem. HO: 17-712 = 0.20 vs H1: n1-12 > 0.20 HO: 17-12 2 0.20 vs H1: 11-12 < 0.20 HO: 17-12 = 0.20 vs H1: 17-12 2 0.20 HO: 17-12 < 0.20 vs H1: 11-112 2 0.20 1.8 Using the information given in Question 1.7 calculate the test statistic 6 points at significance level of 0.025. does the Amagubane proportion differ from the Sowetan proportion by at least 20 percent? Tick the correct answer below. Z-stat = 1.104 Z-stat = 1.302 O Z-stat = 1.401 0 Z-stat = 1.203 1.9 The null hypothesis for a test is that the difference between 3 points groups is exactly zero. Two-tailed O Upper tailed One-tailed Lower tailed 1.10 A Type I error occurs when we . .. 3 points Reject the null hypothesis when it is false 0 Accept the null hypothesis when it is true Reject the null hypothesis when it is true Accept the null hypothesis when it is false

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