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Traffic sign maintenance. The Federal Highway Administration (FHWA) recently issued new guidelines for maintaining and replacing traffic signs. Civil engineers at North Carolina State University conducted a study of the effectiveness of various sign maintenance practices developed to adhere to the new guidelines and published the results in the Journal of Transportation Engineering (June 2013). One portion of the study focused on the proportion of traffic signs that fail the minimum FHWA retroreflectivity requirements. Of 1,000 signs maintained by the North Carolina Department of Transportation (NCDOT), 512 were deemed failures. Of 1,000 signs maintained by county-owned roads in North Carolina, 328 were deemed failures. Conduct a test of hypothesis to determine whether the true proportions of traffic signs that fail the minimum FHWA retroreflectivity requirements differ depending on whether the signs are maintained by the NCDOT or by the county. Test using α = .05.
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Chapter 8 Solutions
EBK STATISTICS FOR BUSINESS AND ECONOMI
- For the students of the college, the visual appearance of the campus is _______(rival/nonrival) and ______(nonexcludable/excludable). Thus, the visual appearance would be classified as a public good. Suppose the college administrators estimate that the beautification initiative will cost $34,980. To decide whether the initiative should be undertaken, administrators conduct a survey of the college's 1,460 students, asking each of them their willingness to pay for the beautification project. The average willingness to pay, as revealed by the survey, is $32. The benefit of the beautification initiative, as suggested by the survey, is $_______. Because the estimated benefit is _______(less/greater) than the cost, the college administrators _______(should not/should) undertake the beautification initiative. The calculation of the benefit of the beautification initiative relied on the ability of the administrators to capture the true willingness to pay of each student accurately. Which…arrow_forwarda) For each, find the expressions for marginal utilities and the marginal rate of substitution, and determine whether monotonicity and convexity are met.arrow_forwardRainbow Harbor Cruises charges $16/adult and $8/child for a round-trip ticket. The records show that, on a certain weekend, 900 took the cruise on Saturday and 1000 took the cruise on Sunday. The total receipts for Saturday were $12,800, and the total receipts for Sunday were $12,000. Determine how many adults and children took the cruise on Saturday and on Sunday. Saturday adults children Sunday adults childrenarrow_forward
- An improvement in the process has resulted in increase of Cpk from 0·06to 0·09. Estimate the reduction in % of non-conforming products.Assume the following : Process average has not changed, Cp = Cpk andprocess is in statistical controlarrow_forwardRequired information Alamo Power historically allocates IDC for its safety program to generation facilities in Cities A and B based on the number of employees. Last year, $300,000 was distributed and the employee count was 790 in city A and 450 in city B. Implementation of the ABC method took place this year to allocate IDC on the basis of number of accidents. City A reported 320 events and city B had 142 accidents reported. Determine the number of accidents per employee. What is its impact on the ABC allocation to the cities? The number of accidents per employee in city A is The number of accidents per employee in city B is (Click to select)arrow_forwardPLEASE ALSO SOLVE FOR EQUIVALENT VARIATION (EV)arrow_forward
- 3E2: use the following to complete the question.arrow_forwardUsing demand and supply analysis to discuss the recent price increases in the Singapore resale HDB and private property market. Are the price increases concentrated in certain locations or are they broad base changes?Use the straits times news and real statistic to discuss instead of using chatgpt to give unsupportive answer.All discussions must support by one most recent example.arrow_forwardDefine the Ordinary Least Squares Estimator? how OLS Estimates the Relationship Between Test Scores and the Student–Teacher Ratio?arrow_forward
- A study by University of Minnesota economist, Joel Waldfogel, estimated the difference in the actual monetary value of gifts received and how much the recipients would have been willing to pay to buy them on their own. The study suggested that the average recipient’s valuation was approximately 90% of the actual purchase price. a. In 2017, it was estimated that the average amount spent on winter holiday gifts in the United States was $906. Based on the estimate from the Waldfogel study, how much of this would be deadweight loss? Enter your answer to the cent. b. In 2017, approximately 250 million people in the United States were above the age of 18. Assuming that each individual purchased $906 worth of gifts, what was the total deadweight loss associated with gift-giving in the United States? Round your answer to the nearest billion dollars.arrow_forwardIn sample 400 parts manufactured by a factory, the number of defective parts was found to be 30. The company, however, claimed that almost 5% of their product is defective. Is the claim tenable?arrow_forwardPlease provide calculation and justification for both questionsarrow_forward
- 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
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