![EBK STATISTICS FOR BUSINESS AND ECONOMI](https://www.bartleby.com/isbn_cover_images/8220103633567/8220103633567_largeCoverImage.jpg)
EBK STATISTICS FOR BUSINESS AND ECONOMI
13th Edition
ISBN: 8220103633567
Author: Sincich
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 7.4, Problem 7.44ACI
Solder-joint inspections. Current technology uses high-resolution X-rays and lasers for inspection of solder-joint defects on printed circuit boards (PCBs) (Global SMT & Packaging, April 2008). A particular manufacturer of laser-based inspection equipment claims that its product can inspect on average at least 10 solder joints per second when the joints are spaced .1 inch apart. The equipment was tested by a potential buyer on 48 different PCBs. In each case, the equipment was operated for exactly 1 second. The number of solder joints inspected on each run follows:
- a. The potential buyer wants to know whether the sample data refute the manufacturer’s claim. Specify the null and alternative hypotheses that the buyer should test.
- b. In the context of this exercise, what is a Type I error? A Type II error?
- c. Conduct the hypothesis test you described in part a and interpret the test’s results in the context of this exercise. Use α = .05.
Expert Solution & Answer
![Check Mark](/static/check-mark.png)
Want to see the full answer?
Check out a sample textbook solution![Blurred answer](/static/blurred-answer.jpg)
Students have asked these similar questions
A merchant who sells newspapers and magazines at the corner kiosk heard you manage the Times’ inventory and asks for your advice. She has a small, variable number of customers who daily purchase the Chicago Sun Times. In order to get the newspapers in time, she has to place an order for the next day’s newspapers before noon. She pays $0.50 for each newspaper and sells them for $1.50 each. She has kept detailed records of her past sales of the Chicago Sun Times and estimates that 10% of the time she sells 10 newspapers, 40% of the time she sells 11, 30% of the time she sells 12, and 20% of the time she sells 13. (a) What is the merchant’s marginal profit and marginal loss? (b) Determine how many Chicago Sun Times newspapers she should buy every day to maximize expected profits. (c) Calculate the merchant’s expected profits for the optimal order quantity. (d) The merchant has always purchased 13 newspapers, thinking that the best way to maximize profits was to always meet the demand.…
Please do not provide answer in image formate thank you.
Sue is a customer account representative for ABC Company. She recently acquired several new accounts when a previous representative, Dan, took an early retirement. Sue reviewed each of Dan’s accounts to help familiarize herself with his clients and understand how she can better serve each one’s individual needs. As she was reviewing the client list, she found a major customer she had never heard of before. Surprised that she had not yet done business with the company, she called it to introduce herself as the new representative.
When Sue placed the call, she found that the reported number had been disconnected. Thinking that the customer may have done business with ABC in the past and have moved on, she reviewed the account transactions and found that the most recent transaction had taken place the week prior. During her review, she also noticed the latest transaction was for an unusually large amount for ABC.
As Sue pursued her curiosity, she went to other employees to find out more…
Chapter 7 Solutions
EBK STATISTICS FOR BUSINESS AND ECONOMI
Ch. 7.2 - Which hypothesis, the null or the alternative, is...Ch. 7.2 - Which element of a test of hypothesis is used to...Ch. 7.2 - What is the level of significance of a test of...Ch. 7.2 - What is the difference between Type I and Type II...Ch. 7.2 - List the four possible results of the combinations...Ch. 7.2 - We reject the null hypothesis when the test...Ch. 7.2 - If you test a hypothesis and reject the null...Ch. 7.2 - For each of the following rejection regions,...Ch. 7.2 - Use the applet Hypothesis Test for a Mean to...Ch. 7.2 - Americans favorite sport. The Harris Poll...
Ch. 7.2 - Play Golf America program. The Professional Golf...Ch. 7.2 - Student loan default rate. The national student...Ch. 7.2 - A border protection avatar. The National Center...Ch. 7.2 - Calories in school lunches. A University of...Ch. 7.2 - Libor interest rate. The interest rate at which...Ch. 7.2 - Prob. 7.15ACICh. 7.2 - Authorizing computer users with palm prints....Ch. 7.2 - Jury trial outcomes. Sometimes, the outcome of a...Ch. 7.2 - Intrusion detection systems. The Journal of...Ch. 7.3 - Consider the test of H0: = 7. For each of the...Ch. 7.3 - If a hypothesis test were conducted using = .05,...Ch. 7.3 - For each and observed significance level...Ch. 7.3 - In a test of the hypothesis H0: = 50 versus H0: ...Ch. 7.3 - In a test of H0: = 100 against Ha: 100 the...Ch. 7.3 - In a test of the hypothesis H0: = 10 versus Ha: ...Ch. 7.3 - In a test of H0: = 100 against Ha: 100, the...Ch. 7.3 - In a test of H0: = 75 performed using the...Ch. 7.3 - An analyst tested the null hypothesis that 20...Ch. 7.4 - Consider the test H0: = 70 versus Ha: 70 using...Ch. 7.4 - Suppose you are interested in conducting the...Ch. 7.4 - A random sample of 100 observations from a...Ch. 7.4 - A random sample of 64 observations produced the...Ch. 7.4 - Use the applet Hypotheses Test for a Mean to...Ch. 7.4 - Use the applet Hypotheses Test for a Mean to...Ch. 7.4 - Use the applet Hypotheses Test for a Mean to...Ch. 7.4 - Corporate sustainability of CPA firms. Refer to...Ch. 7.4 - Packaging of a childrens health food. Can...Ch. 7.4 - Stability of compounds in new drugs. Refer to the...Ch. 7.4 - Facial structure of CEOs. Refer to the...Ch. 7.4 - Trading skills of institutional investors. The...Ch. 7.4 - Producers and consumers risk. In quality-control...Ch. 7.4 - Unethical corporate conduct. Refer to the...Ch. 7.4 - Time required to complete a task. When a person is...Ch. 7.4 - Tipping points in daily deal transactions. Refer...Ch. 7.4 - Point spreads of NFL games. During the National...Ch. 7.4 - Revenue for a full-service funeral. According to...Ch. 7.4 - Buy-side vs. sell-side analysts earnings...Ch. 7.4 - Solder-joint inspections. Current technology uses...Ch. 7.4 - Prob. 7.45ACACh. 7.4 - Salaries of postgraduates. The Economics of...Ch. 7.5 - a. Consider testing H0: = 80. Under what...Ch. 7.5 - For each of the following rejection regions,...Ch. 7.5 - A random sample of n observations is selected from...Ch. 7.5 - A sample of five measurements, randomly selected...Ch. 7.5 - Suppose you conduct a 1-test for the null...Ch. 7.5 - Performance-based logistics. Refer to the Journal...Ch. 7.5 - Accidents at construction sites. In a study...Ch. 7.5 - Lobster trap placement. Refer to the Bulletin of...Ch. 7.5 - Radon exposure in Egyptian tombs. Refer to the...Ch. 7.5 - Performance of stock screeners. Recall, from...Ch. 7.5 - Oxygen bubble velocity in a purification process....Ch. 7.5 - Shopping vehicle and judgment. Refer to the...Ch. 7.5 - Minimizing tractor skidding distance. Refer to the...Ch. 7.5 - Crude oil biodegradation. Refer to the Journal of...Ch. 7.5 - Increasing hardness of polyester composites....Ch. 7.5 - Arsenic in smelters. The Occupational Safety and...Ch. 7.6 - Suppose a random sample of 100 observations from a...Ch. 7.6 - Suppose the sample in Exercise 7.64 has produced...Ch. 7.6 - A statistics student used a computer program to...Ch. 7.6 - Refer to Exercise 6.441 (p. 332), in which 50...Ch. 7.6 - For the binomial sample sizes and null...Ch. 7.6 - Use the applet Hypotheses Test for a Proportion to...Ch. 7.6 - Use the applet Hypotheses Test for a Proportion to...Ch. 7.6 - Customer participation in store loyalty card...Ch. 7.6 - Fraud survey of Asia-Pacific firms. The opinions...Ch. 7.6 - TV subscription streaming. Streaming of television...Ch. 7.6 - Gummi Bears: Red or yellow? Companies that produce...Ch. 7.6 - Toothpaste brands with the ADA seal. Consumer...Ch. 7.6 - Vacation-home owners. The National Association of...Ch. 7.6 - Organic-certified coffee. Coffee markets that...Ch. 7.6 - Dehorning of dairy calves. For safety reasons,...Ch. 7.6 - Effectiveness of skin cream. Ponds Age-Defying...Ch. 7.6 - Prob. 7.78ACICh. 7.6 - Prob. 7.79ACICh. 7.6 - Prob. 7.80ACACh. 7.6 - Prob. 7.81ACACh. 7.7 - Let X02 be a particular value of X2 Find the value...Ch. 7.7 - A random sample of n observations is selected from...Ch. 7.7 - A random sample of seven measurements gave x=9.4...Ch. 7.7 - Refer to Exercise 7.841. Suppose we had n = 100,...Ch. 7.7 - A random sample of n = 7 observations from a...Ch. 7.7 - Trading skills of institutional investors. Refer...Ch. 7.7 - Lobster trap placement. Refer to the Bulletin of...Ch. 7.7 - Prob. 7.89ACBCh. 7.7 - Oil content of fried sweet potato chips. Refer to...Ch. 7.7 - Strand bond performance of pre-stressed concrete....Ch. 7.7 - Drug content assessment. Refer to the Analytical...Ch. 7.7 - Jitter in a water power system. Refer to the...Ch. 7.7 - Cooling method for gas turbines. During periods of...Ch. 7.7 - Why do small firms export? The Journal of Small...Ch. 7.8 - a. List three factors that will increase the power...Ch. 7.8 - Prob. 7.97LMCh. 7.8 - Prob. 7.98LMCh. 7.8 - Prob. 7.99LMCh. 7.8 - Refer to Exercise 7.99. a. Find for each of the...Ch. 7.8 - Prob. 7.101LMCh. 7.8 - Prob. 7.102ACICh. 7.8 - Prob. 7.103ACICh. 7.8 - Prob. 7.104ACICh. 7.8 - Prob. 7.105ACICh. 7.8 - Prob. 7.106ACICh. 7.8 - Prob. 7.107ACICh. 7 - Specify the differences between a large-sample and...Ch. 7 - Complete the following statement; The smaller the...Ch. 7 - Which of the elements of a test of hypothesis can...Ch. 7 - If you select a very small value for when...Ch. 7 - If the rejection of the null hypothesis of a...Ch. 7 - A random sample of 20 observations selected from a...Ch. 7 - A random sample of 175 measurements possessed a...Ch. 7 - A random sample of n = 200 observations from a...Ch. 7 - A t-test is conducted for the null hypothesis H0 :...Ch. 7 - A random sample of 41 observations from a normal...Ch. 7 - Effectiveness of online courses. The Survey of...Ch. 7 - Prob. 7.119ACBCh. 7 - Latex allergy in health care workers. Refer to the...Ch. 7 - Latex allergy in health care workers (contd)....Ch. 7 - Made in the USA survey. Refer to the Journal of...Ch. 7 - Beta value of a stock. The beta coefficient of a...Ch. 7 - Accuracy of price scanners at Walmart. Refer to...Ch. 7 - Paying for music downloads. If you use the...Ch. 7 - Prob. 7.126ACBCh. 7 - Prob. 7.127ACBCh. 7 - Prob. 7.128ACICh. 7 - Prob. 7.129ACICh. 7 - Drivers use of the Lincoln Tunnel. The Lincoln...Ch. 7 - Prob. 7.131ACICh. 7 - Prob. 7.132ACICh. 7 - Prob. 7.133ACICh. 7 - Prob. 7.134ACICh. 7 - Prob. 7.135ACICh. 7 - Prob. 7.136ACICh. 7 - Prob. 7.137ACICh. 7 - Prob. 7.138ACICh. 7 - Prob. 7.139ACICh. 7 - Prob. 7.140ACICh. 7 - Prob. 7.141ACICh. 7 - Prob. 7.142ACICh. 7 - Prob. 7.143ACICh. 7 - Ages of cable TV shoppers. Cable TVs Home Shopping...Ch. 7 - Factors that inhibit learning in marketing. What...Ch. 7 - Prob. 7.146ACACh. 7 - The hot tamale caper. Hot tamales are chewy,...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- DO NOT USE LAGRANGIANarrow_forwardAccording to Wine-Searcher, wine critics generally use a wine-scoring scale to communicate their opinions on the relative quality of wines. Wine scores range from 0 to 100, with a score of 95 – 100 indicating a great wine, 90 – 94 indicating an outstanding wine, 85 – 89 indicating a very good wine, 80 – 84 indicating a good wine, 75 - 79 indicating a mediocre wine, and below 75 indicating that the wine is not recommended. Random ratings of a pinot noir recently produced by a newly established vineyard in 2018 follow: Excel File: data07-11.xlsx 87 91 86 82 72 91 60 77 80 79 83 96 a. Develop a point estimate of mean wine score for this pinot noir (to 2 decimals). b. Develop a point estimate of the standard deviation for wine scores received by this pinot noir (to 4 decimals).arrow_forwardIt is not graded it is a practice question.arrow_forward
- A polling company reported that 33% of 2286 surveyed adults said that they play football. Complete parts (a) through (d) below. C a. What is the exact value that is 33% of 2286? The exact value is (Type an integer or a decimal.) b. Could the result from part (a) be the actual number of adults who said that they play football? Why or why not? O A. No, the result from part (a) could not be the actual number of adults who said that they play football because that is a very rare activity. O B. Yes, the result from part (a) could be the actual number of adults who said that they play football because the results are statistically significant. O C. Yes, the result from part (a) could be the actual number of adults who said that they play football because the polling numbers are accurate. O D. No, the result from part (a) could not be the actual number of adults who said that they play football because a count of people must result in a whole number. c. What could be the actual number of…arrow_forwardA polling company reported that 53% of 2286 surveyed adults said that they play football. Complete parts (a) through (d) below. C a. What is the exact value that is 53% of 2286? The exact value is (Type an integer or a decimal.) b. Could the result from part (a) be the actual number of adults who said that they play football? Why or why not? O A. No, the result from part (a) could not be the actual number of adults who said that they play football because a count of people must result in a whole number. O B. Yes, the result from part (a) could be the actual number of adults who said that they play football because the results are statistically significant. O C. No, the result from part (a) could not be the actual number of adults who said that they play football because that is a very rare activity. O D. Yes, the result from part (a) could be the actual number of adults who said that they play football because the polling numbers are accurate. c. What could be the actual number of…arrow_forwardf (x, y) = 3x² + y³ + 4xy² +8 Of(x,y) dr Of(x,y) dy What is the value of when x = 4 and y = 5? (Note: the answer may not be a whole number, so please round to the nearest hundredth) (Note: the numbers may change between questions, so read carefully)arrow_forward
- The manager of a carpet store is trying to determine the best installation crew size. He has tried various crew sizes with the results shown below. Based on productivity, what crew size do you recommend? Crew Size Yards Installed 716 4 1298 1017 1002 1278 702 3 1 4arrow_forwardAt an output of 14, MC = $50 and ATC = $55. At an output of 15, MC = $65 and ATC= $56. Estimate the ATC at the break-even pointarrow_forwardWas there a mistake when the tutor wrote P = 79 - 2Q? It is supposed to be P = 79 - 0.5Qarrow_forward
- This question is intended to have a written response given. The writtenresponse should be 2-3 paragraphs maximum and focused on answer the specific questions of interest using the tools/concepts from lecture/tutorials. You may include agraph to support your argument/ideas, but this is not required (note: I would recommend you sketch a graph when thinking about how to answer this question, thoughthat does not need to be submitted). Leung and Seo wrote an article “How do government transfer payments affect retail prices and welfare? Evidence from SNAP” (Jan,2023) in the Journal of Public Economics. To answer this question, you do not need togo read the paper. I would in fact recommend against it as the paper is very technicaland assumes a knowledge of statistics that most students taking Econ 201 will nothave (some of the ideas will be discussed in Econ 233 and Econ 333). We will use theinformation/main ideas as a starting framework.In the United States, one of the largest welfare…arrow_forwardHand written answer is not allowed.arrow_forwardmultiple answer can also be here.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
![Text book image](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Text book image](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
![Text book image](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education
Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY
Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY