five-star restaurant has the business objective of improving customer waiting time during the noon-to-1 p.m. lunch period. The manager decides to compare the waiting time between the restaurant's two locations. A random sample of 15 customers was selected from Location 1, and another random sample of 15 customers was selected from location 2 on the same day. The waiting times collected from both samples are stored in the following table.   Location 1 Location 2 4.21 9.66 5.55 5.90 3.02 8.02 5.13 5.79 4.77 8.73 2.34 8.01 3.54 8.35 3.20 10.49 4.50 6.68 6.10 5.64 0.38 4.08 5.12 6.17 6.46 9.91 6.19 5.47 3.79 3.82   At a 0.05 level of significance, is there evidence of a difference in the means waiting time between the two locations? Determine the p-value in (a) and interpret its meaning. What assumption about the population distribution of each location is necessary for (a)? Is the assumption valid for these data?

QUESTION 3 (Figure: US Business Cycle Expansions and Contractions) From the data on averages for all cycles we can conclude that over time: Business cycles data.pdf O The number of cycles during 1945-2020 exceeded the number of cycles during 1854-1919. The number of cycles during 1919-1945 exceeded the number of cycles during 1945-2020. The average duration of contractions during 1854-1919 was shorter than the average duration of contractions during 1945-2020. The average duration of expansions during 1854-1919 was shorter than the average duration of expansions during 1945-2020.

the unemployment rate for 18- to 34-year-olds was reported to be 10.8% (the Cincinnati Enquirer, november 6, 2012). assume that this report was based on a random sample of four hundred 18- to 34-year-olds. a. a political campaign manager wants to know if the sample results can be used to conclude that the unemployment rate for 18- to 34-years-olds is significantly higher than the unemployment rate for all adults. according to the bureau of labor Statistics, the unemployment rate for all adults was 7.9%. develop a hypothesis test that can be used to see if the conclusion that the unemployment rate is higher for 18- to 34-year-olds can be supported.b. use the sample data collected for the 18- to 34-year-olds to compute the p-value for the hypothesis test in part (a). using a 5 .05, what is your conclusion?c. explain to the campaign manager what can be said about the observed level of significance for the hypothesis testing results using the p-value

The microstructure of an iron carbon alloy consists of proeutectoid ferrite and pearlite; the mass fractions of these microconstituents are 0.22 and 0.78, respectively. Determine the concentration of carbon in this alloy.

QUESTION 2 You work for a big retail chain that operates in a large number of regional markets and you want to investigate the effect of increased marketing spending on sales. You randomly select half of the markets and increase the marketing budget in these markets by 10%. The rest of the markets are allocated the same marketing budget as before. Then comparing the average sales in the markets with increased marketing budget and average sales in the remaining markets will give an unbiased estimate of the true causal effect of increased marketing spending on sales. True O False

A rectangle is a four-sided figure that has two sets of parallel sides, so that we have two sides of one length and two sides of another length; a square is just a special case of a rectangle in which all four sides are the same length. Therefore, the procedure for calculating area is the same no matter whether we are dealing with a rectangle or a square. The area of a rectangle is calculated as follows: Area = base x height = b × h In this formula, the base is the width of the rectangle and the height is simply how tall the rectangle Is. For example, if we have a rectangle that is 20 centimeters wide and 10 centimeters tall, its area can be calculated as follows: Area = 20 cm x 10 cm = 200 cm² Note the superscript '2' In our answer; this is because we have multiplied centimeters by centimeters. In economics, we are more likely to be dealing with quantities bought or sold and prices, so don't worry about it too much for our discussion. The area of a triangle A triangle is really just a…

The following relationships between wage (W) and education (EDU) are estimated using a sample of 100 individuals. Excel results are reported below Model 1: W=4.3-0.07 EDU+0.9 EDU2 ; se (4.9) (0.07) (0.03) SSR=0.74; SSE=22.7; SST=23.44; Model 2: W=894-21.96 EDU+0.6 EDU2-75.0 What2+6.5 What3; se (885) (25.54) (0.06) (85.0) (3.2) SSR=0.82; SSE=21.68; SST=22.50; where W is wage and What is the fitted value of W. 1. In Model 1 test the hypothesis that education has no effect on wage 2. Test the adequacy of model W=B1+B2 EDU+B3 EDU?

A few minutes ago, Joe Doe learned that his company was having a bad year and thus merit salary increases will be smaller than expected. His division’s budget has been set and so he knows that he will receive a salary increase of $400 over his present salary. Joe Doe has also been offered a transfer to another division in the company. He is unsure of the salary situation in the other division. However, his best information leads him to conclude that if he took the new job, there is a 60% chance that he would receive a salary increase of $600 over his present salary, and a 40% chance that he would receive only a $150 increase over his present salary. To summarize, Joe Doe can either stick with his current job and get a salary increase of $400, or take a transfer to a new job and get a salary increase of either $600 with a 60% probability, or $150 with a 40% probability. Amount ($X) Value (v($X)) $0 -5 $150 -2.5 $200 -2 $300 0 $350 0.5 $400 1 $600 1.85…

In June 2015, Gallup conducted a poll of a random sample of 14802 adults to determine the well-being of people living in the United States. One question asked, "Did you exercise at least 30 minutes for 3 or more days in the past week?" In the survey, 57.3% of males and 42.7% of females responded yes to this question. Which of the following is true about this scenario?A. 57:3% and 42.7% are both statistiesB. 57.3% and 42.7% are both parameter.C. If we took another random sample of 14802 adults, we would expect to get the exact same results.

Select the scenario which is an example of simple random sampling. Answer Keypad Keyboard Shortcuts Tables A mobile network operator wants to determine the mean age of its most active subscribers. A random sample of subscribers with the number of text messages exceeding 30 per day was chosen. City managers want to find out the public's opinion of a newly reconstructed road. They use a local TV station to encourage citizens to make a call to their hot line and share their experience. Half of the working-age population in the county is under 35 years old, and another half is over 35 years old. The county administration wants to estimate the mean O salary for the two age groups, so they select 500 working-age residents that are younger than 35 and 500 working-age residents that are older than 35 and ask them about their salary. O Two friends conducted a survey among their schoolmates to find out how much time schoolchildren spend reading books during the summer.