marketing research, consumer surveys may be used to determine the effectiveness of advertising. For example, in 1984, after releasing its wildly popular "Where's the Beef?" television ad, Wendy's fast-food restaurant increased its annual revenue by 31%. A company that manufactures different kinds of candy bars plans to launch an ad during the Super Bowl that ties a classic candy bar to childhood memories and wants to analyze the public's response by surveying potential customers in January, before the ad release, and in March, 1 month after the release. Ten raters are asked in January to eat the targeted candy bar and then rate their enjoyment level on a scale of 1 to 5, where 1 means "I did not enjoy this food at all" and 5 means "I enjoyed this food very much." In March, the raters were first shown the commercial, then given the candy bar to eat, and asked to rate their responses on the same scale. The ratings are expected to improve by at least 0.2 points. Here are the results of the 10 raters in January and March.

Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day. A sample of 64 stocks traded on the NYSE that day showed that 12 went up. You are conducting a study to see if the proportion of stocks that went up is significantly less than 0.3. You use a significance level of a = 0.02. What is the test statistic for this sample? (Report answer accurate to three decimal places.) test statistic What is the p-value for this sample? (Report answer accurate to four decimal places.) p-value W The p-value is... O less than (or equal to) a Ogreater than a This test statistic leads to a decision to... O reject the null Oaccept the null fail to…

Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day A sample of 55 stocks traded on the NYSE that day showed that 22 went up. You are conducting a study to see if the proportion of stocks that went up is is significantly more than 0.3. You use a significance level of a =0.02. What is the test statistic for this sample? (Report answer accurate to three decimal places.) test statistic= What is the p-value for this sample? (Report answer accurate to four decimal places.) p-value =

Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 61 stocks traded on the NYSE that day showed that 22 went up.You are conducting a study to see if the proportion of stocks that went up is is significantly more than 0.3. You use a significance level of α=0.002.What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value =

The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increases or decreases the amount of the winning bid. Bidders Price 9.0 5.1 9.0 8.0 3.0 9.7 10.0 7.8 5.0 7.7 10.0 5.5 7.0 8.3 11.0 5.5 6.0 10.3 6.0 8.0 4.0 8.8 7.0 9.4 7.0 8.6 7.0 8.1 6.0 7.8 Given:  Correlation of Coefficient: 0.7064 (This is correct) Coefficient of determination: 49.90% (This is correct) ŷ = 11.2360 + (-0.4667)x (This is correct) Create a scatter plot of the data Complete a regression analysis of the relationship. Slope = ______ Estimate the winning bid if there were seven bidders. Winning bid cost ______ millions. Compute the 95% prediction interval for a winning bid if there are seven bidders. [ _____________, ______________]

The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increases or decreases the amount of the winning bid. Bidders Price 9.0 5.1 9.0 8.0 3.0 9.7 10.0 7.8 5.0 7.7 10.0 5.5 7.0 8.3 11.0 5.5 6.0 10.3 6.0 8.0 4.0 8.8 7.0 9.4 7.0 8.6 7.0 8.1 6.0 7.8 GIVEN: correlation coefficient: - 0.7064 Slope: -0.4667 Coefficient of determination: 49.90% regression equation: ŷ= 11.2360 + (-4467)x FIND:  Estimate the winning bid if there were seven bidders. Winning bid cost _________ millions. Explain. Compute the 95% prediction interval for a winning bid if there are seven bidders.  [ _______________ , _______________ ] (Explain).

Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 62 stocks traded on the NYSE that day showed that 10 went up.You are conducting a study to see if the proportion of stocks that went up is significantly less than 0.3. You use a significance level of α=0.10α=0.10.What is the test statistic for this sample? (Report answer accurate to three decimal places.) test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.) p-value =

Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 77 stocks traded on the NYSE that day showed that 26 went up.You are conducting a study to see if the proportion of stocks that went up is significantly more than 0.3. You use a significance level of α=0.10What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value = The p-value is... less than (or equal to) αα greater than αα This test statistic leads to a decision to... reject the null accept the null fail to reject…

Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 55 stocks traded on the NYSE that day showed that 6 went up.You are conducting a study to see if the proportion of stocks that went up is significantly less than 0.3. You use a significance level of α=0.02α=0.02.What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value =

Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 65 stocks traded on the NYSE that day showed that 14 went up.You are conducting a study to see if the proportion of stocks that went up is is significantly less than 0.3. You use a significance level of α=0.005What is the test statistic for this sample? (Report answer accurate to three decimal places.) test statistic = _____What is the p-value for this sample? (Report answer accurate to four decimal places.) p-value = ________The p-value is...   (which one) less than (or equal to) αα greater than αα This test statistic leads to a decision to...   (which one)…