EBK BUSINESS ANALYTICS
3rd Edition
ISBN: 9780135231906
Author: Evans
Publisher: VST
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Chapter 3, Problem 14PE
In the Excel file Banking Data, apply the following data visualization tools:
- Use data bars to visualize the relative values of
median home value. - Use color scales to visualize the relative values of median household wealth.
- Use an icon set to show high, medium, and low average bank balances, where high is above
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Suppose a company sells bacon in packages that they claim average a weight of 12 ounces. Timothy believes that the actual
average weight of the packages is different than what the company claims, and would like to test this using a significance level of
0.01. He takes a random sample of 31 packages and gets a sample mean of 12.49 ounces and a sample standard deviation of 1.02
ounces.
a) What are the null and alternative hypotheses?
Ho: μ
÷
== 12
÷
HA: M
=
± =
12
b) What is the test statistic? (Round your answer to 3 decimal places, if needed.)
2.678
Your last answer was interpreted as follows:
2.678
c) Using the statistical table, the p-value is 0.01 < p-value < 0.02 →
d) Based on the p-value, Timothy should fail to reject ✰ the null hypothesis.
e) This data does not provide
sufficient evidence to conclude that the actual average weight of the packages is
different from → what the company claims.
Check
The Office of Student Affairs receives numerous appeals from students seeking reevaluation of their enrollment status. The office has observed that, on average, 30% of appeals are successful. Suppose the office has recently received 15 appeals.
Calculate the probability that none of the appeals will be successful.
Determine the probability that exactly three appeals will be successful.
Find the probability that at least two appeals will be successful. At least two appeals means P(x≥2).
Compute the probability that less than half of the appeals will be successful. Less than half means P(x<8) or P(x≤7).
A college wants to estimate what students typically spend on textbooks. A report fromthe college bookstore observes that textbooks range in price from $22 to $186. Toobtain a 95% confidence level for a confidence interval estimate to plus or minus $10,how many students should the college survey?
Chapter 3 Solutions
EBK BUSINESS ANALYTICS
Ch. 3 - Prob. 2PECh. 3 - Create a line chart for the closing prices for all...Ch. 3 - Create a pie chart showing the breakdown of...Ch. 3 - Create a stacked area chart contrasting primary...Ch. 3 - A national homebuilder builds single-family homes...Ch. 3 - The Excel file Facebook Survey provides data...Ch. 3 - Create a bubble chart for the first five colleges...Ch. 3 - Construct a column chart for the data in the Excel...Ch. 3 - The Excel file Internet Usage provides data about...Ch. 3 - Construct an appropriate chart to show the...
Ch. 3 - A marketing researcher surveyed 92 individuals,...Ch. 3 - In the Excel file Banking Data, apply the...Ch. 3 - Apply three different colors of data bars to...Ch. 3 - For the Store and Regional Sales database, apply a...Ch. 3 - For the Excel file Closing Stock Prices, apply...Ch. 3 - Create a useful dashboard for the data in the...Ch. 3 - Create a useful dashboard for the data in the...Ch. 3 - Create a useful dashboard for the data in the...
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