Unit 3 Exam Practice Problems Chapters 9 & 14 Chapter 9 Ho: μ20 Consider the following hypothesis test: 1. H1: H20 A sample of 50 provided a sample mean of 19.4. The population standard deviation is 2. a. Compute the value of the test statistic. b. What is the p-value? c. Using a .05, what is your conclusion? d. What is the rejection rule using the critical value? What is your conclusion? Ho: μ245 Consider the following hypothesis test: 2. H1: H<45 A sample of 36 is used. Identify the p-value and state your conclusion for each of the following sample results. Use a= .01. x=44 and s = 5.2 a. b. x 43 and s = 4.6 5.0 x46 and s C. Ten years ago 53 % of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicate that the percentage is now 46% (The Wall Street Journal. October 5, 2012). 3. Develop appropriate hypotheses such that rejection of Ho will support the conclusion that a smaller proportion of American families own stocks or stock funds in 2012 than 10 years ago. a. Assume that the Investment Company Institute sampled 300 American families to estimate the percent owning stocks or stock funds was 46% in 2012. What is the p-value for your hypothesis test? At a .01, what is your conclusion? b. C. Chapter 14

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Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products. 

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.