A+ Answers 2023 Business Finance

2023 If the confidence coefficient is 0 9 Points 1 we expect that 9 samples out of 100 will support

If the confidence coefficient is 0.9, ________. (Points : 1)

we expect that 9 samples out of 100 will support the null hypothesis

we expect that 90 out of 100 samples will support the null hypothesis

we expect that 10 samples out of 100 will support the null hypothesis

we expect that all 100 samples will support the null hypothesis

Question 2.2.

Use the information below to answer the question.

The following table provides data on a sample of customers who visited a local restaurant. The restaurant owner believes that the average profit per customer exceeds $25.

36.73 35.50

25.92 38.36

41.65 25.50

18.78 19.78

33.14 22.22

20.85 26.23

22.13 32.33

28.46 34.15

34.72 24.21

24.20 28.95

21.84 19.74

20.75

Which of the following is the correct conclusion? (Points : 1)

The null hypothesis that the average profit per customer exceeds $25 cannot be rejected.

The null hypothesis that the average profit per customer does not exceed $25 is rejected.

The null hypothesis that the average profit per customer does not exceed $25 cannot be rejected.

The null hypothesis that the average profit per customer exceeds $25 is rejected.

Question 3.3. Hypothesis testing is a technique that allows you to draw statistically valid conclusions about ________. (Points : 1)

random errors

sample statistics

population parameters

individuals

Question 4.4. Another term for p-value is ________. (Points : 1)

degrees of freedom

random effect

probability density function

observed significance level

Question 5.5. The null hypothesis ________. (Points : 1)

describes an existing theory or belief that is accepted as correct in the presence of contradictory data

describes an existing theory or belief that is accepted as correct in the absence of contradictory data

is based on new information provided by sample data

is based on new information provided by population data

Question 6.6. The power of the test represents the ________. (Points : 1)

probability of correctly failing to reject the null hypothesis when it is indeed true

probability of incorrectly rejecting the null hypothesis when it is actually true

probability of incorrectly failing to reject the null hypothesis when it is actually false

probability of correctly rejecting the null hypothesis when it is indeed false

Question 7.7. When conducting two-sample tests for means with independent samples, ________. (Points : 1)

it is always assumed that the population variances are equal

the test for equality of variances is conducted, and if the variances are not equal the t-test in Excel should not be used

the test for equality of variances is conducted to determine if the variances are equal and thereby choose the appropriate t-test in Excel

it is always assumed that the population variances are unequal

Question 8.8. The t-Test Statistic has a t distribution with ________ degrees of freedom. (Points : 1)

n

n + 1

n – 2

n – 1

Question 9.9.

Use the below information to answer the question.

A company wishes to test whether the proportion of female managers is the same as the proportion of male managers. The following table provides data for a sample of employees.

Females Males

Number of managers 18 23

Sample size 45 75

Which of the following is the conclusion? (Points : 1)

We reject H0 that the proportion of female managers is the same as the proportion of male managers.

We should not reject H0 that the proportion of female managers is not the same as the proportion of male managers.

We reject H0 that the proportion of female managers is not the same as the proportion of male managers.

We should not reject H0 that the proportion of female managers is the same as the proportion of male managers.

Question 10.10.

Use the information below to answer the question.

The following table provides data on a sample of customers who visited a local restaurant. The restaurant owner believes that the average profit per customer exceeds $25.

36.73 35.50

25.92 38.36

41.65 25.50

18.78 19.78

33.14 22.22

20.85 26.23

22.13 32.33

28.46 34.15

34.72 24.21

24.20 28.95

21.84 19.74

20.75

Formulate the null and the alternative hypotheses to determine if the data supports the restaurant owner’s claim. (Points : 1)

H0: The average profit per customer = $25

H1: The average profit per customer ? $25

H0: The average profit per customer = $25

H1: The average profit per customer > $25

H0: The average profit per customer = $25

H1: The average profit per customer < $25

H0: The average profit per customer > $25

H1: The average profit per customer = $25

Question 11.11. In statistical terminology, educational level is an example of a ________. (Points : 1)

continuous variable

residual

factor

dependent variable

Question 12.12. To assess the effect of an intervention such as the productivity of an employee before and after a training class, one would conduct a(n) ________. (Points : 1)

independent samples t-test

ANOVA

paired samples t-test

F-test

Question 13.13. Hypothesis testing involves drawing inferences about two contrasting ________ relating to the value of a population parameter. (Points : 1)

theorems

data sets

assumptions

propositions

Question 14.14. An online retailer wanted to see if purchasing patterns were different between male consumers and female consumers. Males were found to have spent a mean of $85 per month on online purchases, whereas females were found to have spent a mean of $78 per month. An independent samples t-test was conducted to assess the observed difference between the two groups of consumers. A two-tailed test was applied. The value of the t-Test Statistic for the observed differences was -4.7, where the p-value is less than 0.0002. What conclusion can be made about the observed difference? (Points : 1)

There is a statistically significant difference between the two groups of consumers.

There is statistically no significant difference between the two groups of consumers.

The independent samples t-test is not the appropriate hypothesis-testing procedure.

There is not sufficient information to conclude.

Question 15.15.

Use the below information to answer the following question.

A company wishes to test whether the proportion of female managers is the same as the proportion of male managers. The following table provides data for a sample of employees.

Females Males

Number of managers 18 23

Sample size 45 75

Formulate the null and the alternative hypotheses to determine if the proportion of female managers is the same as the proportion of male managers. (Points : 1)

H0: pfemales – pmales ≠ 0

H1: pfemales – pmales = 0

H0: pfemales – pmales = 0

H1: pfemales – pmales > 0

H0: pfemales – pmales = 0

H1: pfemales – pmales ≠ 0

H0: pfemales – pmales = 0

H1: pfemales – pmales < 0

Question 16.16. Two-tailed tests ________. (Points : 1)

have only lower critical values

have only upper critical values

have both upper and lower critical values

do not have any critical values

Question 17.17. Statistical inference is the process of drawing conclusions about ________ from sample data. (Points : 1)

surveys

populations

individuals

sampling errors

Question 18.18. The alternative hypothesis ________. (Points : 1)

___________ describes an existing theory or belief that is accepted as correct in the absence of contradictory data.

is based on new information provided by population data.

is based on new information provided by sample data.

is not deemed to be an important part of inferential statistics.

Question 19.19.

Use the information below to answer the question.

The following table provides data on a sample of customers who visited a local restaurant. The restaurant owner believes that the average profit per customer exceeds $25.

36.73 35.50

25.92 38.36

41.65 25.50

18.78 19.78

33.14 22.22

20.85 26.23

22.13 32.33

28.46 34.15

34.72 24.21

24.20 28.95

21.84 19.74

20.75

Which of the following is the test statistic?

(Points : 1)

1.717

-1.867

1.867

-1.826

Question 20.20. The power of the test depends on ________. (Points : 1)

the true value of the population mean

the level of confidence used

the sample size

all of the above

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