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BUS 240 TEST 4 QUESTIONS WITH ACTUAL ANSWERS!!
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BUS 240 TEST 4 QUESTIONS WITH ACTUAL ANSWERS!!
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BUS 240 TEST 4QUESTIONS
WITH ACTUAL
ANSWERS!!
Evatee 10/3/24 BUS 240
,BUS 240 TEST 4 QUESTIONS WITH ACTUAL
ANSWERS!!
A national manufacturer of ball bearings is experimenting with two different
processes for producing precision ball bearings. It is important that the
diameters be as close as possible to an industry standard. The output from
each process is sampled and the average error from the industry standard is
measured in millimeters. The results are shown on the table. The researcher is
interested in determining whether there is evidence that the two processes
yield different average errors. The population standard deviations are unknown
but are assumed equal. If we test the null hypothesis at the 1% level of
significance, what is the decision? Answer - Reject the null hypothesis and
conclude the means are different.
Twenty randomly selected statistics students were given 15 multiple-choice
questions and 15 open-ended questions, all on the same material. The
professor was interested in determining if students scored higher on the
multiple-choice questions. This experiment is an example of
________________. Answer - A paired t-test
A recent study focused on the number of times men and women send a Twitter
message in a day. The sample information is summarized below. We want to
know if, at the .01 significance level, is there a difference in the mean number
of times men and women send a Twitter message in a day. What is the test
statistic for this hypothesis? Answer - z-statistic
Accounting procedures allow a business to evaluate its inventory costs based
on two methods: LIFO (Last In First Out) or FIFO (First In First Out). A
manufacturer evaluated its finished goods inventory (in $000s) for five
products with the LIFO and FIFO methods. To analyze the difference, they
computed (FIFO - LIFO) for each product. Based on the following results, and
, testing if the LIFO method result in a lower cost of inventory than the FIFO
method. What is the decision at the 5% level of significance? Answer - Fail to
reject the null hypothesis.
Which condition must be met to conduct a test for the difference in two
sample means using a z-statistic? Answer - The two population standard
deviations must be known.
A national manufacturer of ball bearings is experimenting with two different
processes for producing precision ball bearings. It is important that the
diameters be as close as possible to an industry standard. The output from
each process is sampled and the average error from the industry standard is
measured in millimeters. The results are shown on the table. The researcher is
interested in determining whether there is evidence that the two processes
yield different average errors. The population standard deviations are unknown
but are assumed equal. What is the computed value of t? Answer - -3.299
Accounting procedures allow a business to evaluate their inventory costs based
on two methods: LIFO (Last In First Out) or FIFO (First In First Out). A
manufacturer evaluated its finished goods inventory (in $000s) for five
products with the LIFO and FIFO methods. To analyze the difference, they
computed (FIFO - LIFO) for each product. Based on the following results, and
testing if the LIFO method result in a lower cost of inventory than the FIFO
method. What are the degrees of freedom? Answer - 4
For a hypothesis comparing two population means, H0: μ1 ≤ μ2, what is the
critical value for a one-tailed hypothesis test, using a 5% significance level, with
both sample sizes equal to 13? Assume the population standard deviations are
equal. Answer - 1.711
A national manufacturer of ball bearings is experimenting with two different
processes for producing precision ball bearings. It is important that the
diameters be as close as possible to an industry standard. The output from
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