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# QNT 561 Final Exam

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## QNT 561 Week 2 Weekly Learning Assessments

Chapter 5 Exercise 4
A large company must hire a new president. The Board of Directors prepares a list
of five candidates, all of whom are equally qualified. Two of these candidates are
members of a minority group. To avoid bias in the selection of the candidate, the
company decides to select the president by lottery.
a. What is the probability one of the minority candidates is hired? (Round your
b. Which concept of probability did you use to make this estimate?
Chapter 5 Exercise 14
The chair of the board of directors says, "There is a 50% chance this company will
earn a profit, a 30% chance it will break even, and a 20% chance it will lose money
next quarter."
a. Use an addition rule to find the probability the company will not lose money
b. Use the complement rule to find the probability it will not lose money next
Chapter 5 Exercise 22
A National Park Service survey of visitors to the Rocky Mountain region revealed
that 50% visit Yellowstone Park, 40% visit the Tetons, and 35% visit both.

a. What is the probability a vacationer will visit at least one of these attractions?
b. What is the probability .35 called?
c. Are the events mutually exclusive?
Chapter 5 Exercise 34
P(A1) = .20, P(A2) = .40, and P(A3) = .40. P(B1|A1) = .25. P(B1|A2) = .05, and
P(B1|A3) = .10.
Use Bayes' theorem to determine P(A3|B1). (Round your answer to 4 decimal
places.)
Chapter 5 Exercise 40
Solve the following:
a. 20!

17!

b. 9P3
c. 7C2
Chapter 6 Exercise 4
Which of these variables are discrete and which are continuous random variables?
a. The number of new accounts established by a salesperson in a year.
b. The time between customer arrivals to a bank ATM.
c. The number of customers in Big Nicks barber shop.
d. The amount of fuel in your cars gas tank.
e. The number of minorities on a jury.
2

## f. The outside temperature today.

Chapter 6 Exercise 14
The U.S. Postal Service reports 95% of first-class mail within the same city is
delivered within 2 days of the time of mailing. Six letters are randomly sent to
different locations.
a. What is the probability that all six arrive within 2 days? (Round your answer to 4
decimal places.)
b. What is the probability that exactly five arrive within 2 days? (Round your
c. Find the mean number of letters that will arrive within 2 days. (Round your
d-1. Compute the variance of the number that will arrive within 2 days. (Round
d-2. Compute the standard deviation of the number that will arrive within 2 days.
Chapter 6 Exercise 20
In a binomial distribution, n = 12 and = .60.
a. Find the probability for x = 5? (Round your answer to 3 decimal places.)
b. Find the probability for x 5? (Round your answer to 3 decimal places.)
c. Find the probability for x 6? (Round your answer to 3 decimal places.)
Chapter 6 Exercise 26
A population consists of 15 items, 10 of which are acceptable.
3

In a sample of four items, what is the probability that exactly three are acceptable?
Assume the samples are drawn without replacement. (Round your answer to 4
decimal places.)
Chapter 7 Exercise 4
According to the Insurance Institute of America, a family of four spends between
\$400 and \$3,800 per year on all types of insurance. Suppose the money spent is
uniformly distributed between these amounts.
a. What is the mean amount spent on insurance?
b. What is the standard deviation of the amount spent? (Round your answer to 2
decimal places.)
c. If we select a family at random, what is the probability they spend less than
\$2,000 per year on insurance per year? (Round your answer to 4 decimal places.)
d. What is the probability a family spends more than \$3,000 per year? (Round your
Chapter 7 Exercise 10
The mean of a normal probability distribution is 60; the standard deviation is 5.
a. About what percent of the observations lie between 55 and 65?
b. About what percent of the observations lie between 50 and 70?
c. About what percent of the observations lie between 45 and 75?
Chapter 7 Exercise 14
A normal population has a mean of 12.2 and a standard deviation of 2.5.
a. Compute the z value associated with 14.3. (Round your answer to 2 decimal
places.)

b. What proportion of the population is between 12.2 and 14.3? (Round your
c. What proportion of the population is less than 10.0? (Round your answer to 4
decimal places.)
Chapter 7 Exercise 18
A normal population has a mean of 80.0 and a standard deviation of 14.0.
a. Compute the probability of a value between 75.0 and 90.0. (Round intermediate
calculations to 2 decimal places. Round final answer to 4 decimal places.)
b. Compute the probability of a value of 75.0 or less. (Round intermediate
calculations to 2 decimal places. Round final answer to 4 decimal places.)
c. Compute the probability of a value between 55.0 and 70.0. (Round intermediate
calculations to 2 decimal places. Round final answer to 4 decimal places.)
Chapter 7 Exercise 28
For the most recent year available, the mean annual cost to attend a private
university in the United States was \$26,889. Assume the distribution of annual
costs follows the normal probability distribution and the standard deviation is
\$4,500.
Ninety-five percent of all students at private universities pay less than what
amount? (Round z value to 2 decimal places and your final answer to the nearest
whole number.)
QNT 561 Week 3 Weekly Learning Assessments
Chapter 8 Exercise 2
The following is a list of 29 hospitals in the Cincinnati (Ohio) and Northern
Kentucky region. The hospitals are identified by numbering them 00 through 28.
Also included is whether the hospital is a general medical/surgical hospital (M/S)
or a specialty hospital (S). We are interested in estimating the average number of
full- and part-time nurses employed in the area hospitals.
5

A sample of five hospitals is to be randomly selected. The random numbers are 09,
16, 00, 49, 54, 12, and 04. Which hospitals are included in the sample? (Select
hospital names included in sample in numerical order.)
A sample is to consist of every fifth location. We select 02 as the starting point.
Which hospitals will be included in the sample? (Hint: Enter the ID number used
to identify the hospitals) (Select hospital names included in sample in numerical
order.)

Chapter 8 Exercise 8
A population consists of the following five values: 2, 2, 4, 5, 6.
a. List all samples of size 3, and compute the mean of each sample. (Round sample
means to 2 decimal places.)
Sample

Values

2, 2, 4

2, 2, 5

2, 2, 6

2, 4, 5

2, 4, 6

2, 5, 6

2, 4, 5

2, 4, 6

2, 5, 6

10

Sum

Mean

4, 5, 6

b. Compute the mean of the distribution of sample means and the population mean.
6

Chapter 8 Exercise 12
Scrapper Elevator Caompany has 20 sales representatives who sell its product
throughout the United States and Canada. The number of units sold last month by
each representative is listed below. Assume these sales figures to be the population
values.
2

b. Compute the mean of the population. (Round your answer to 1 decimal place.)
Chapter 8 Exercise 16
A normal population has a mean of 75 and a standard deviation of 5. You select a
sample of 40.
Compute the probability the sample mean is: (Round z values to 2 decimal places
and final answers to 4 decimal places):
a. Less than 74.
b. Between 74 and 76.
c. Between 76 and 77.
d. Greater than 77.

Chapter 9 Exercise 4
Suppose you know and you want an 85% confidence level. What value would
you use as z in formula of confidence interval for a population mean? (Round your

Chapter 9 Exercise 6
7

A research firm conducted a survey to determine the mean amount steady smokers
spend on cigarettes during a week. They found the distribution of amounts spent
per week followed the normal distribution with a population standard deviation of
\$5. A sample of 64 steady smokers revealed that . formula233.mml.
a. What is the 95% confidence interval estimate of formula22.mml ? (Round your

Chapter 9 Exercise 10
Use Appendix B.5 to locate the value of t under the following conditions. (Round
a. The sample size is 15 and the level of confidence is 95%.
b. The sample size is 24 and the level of confidence is 98%.
c. The sample size is 12 and the level of confidence is 90%.

Chapter 9 Exercise 26
Past surveys reveal that 30% of tourists going to Las Vegas to gamble spend more
than \$1,000. The Visitors Bureau of Las Vegas wants to update this percentage.
a. The new study is to use the 90% confidence level. The estimate is to be within
1% of the population proportion. What is the necessary sample size? (Round your
answer to the next whole number.)
b. The Bureau feels the sample size determined above is too large. What can be
done to reduce the sample? Based on your suggestion, recalculate the sample size.
(Hint: Use an allowable error in the range of 0.01 to 0.05) (Round your answer to
the next whole number.)

Chapter 9 Exercise 28
8

Forty-nine items are randomly selected from a population of 500 items. The
sample mean is 40 and the sample standard deviation 9.
Develop a 99% confidence interval for the population mean. (Round your answers
to 3 decimal places.)
QNT 561 Week 4 Weekly Learning Assessments
Chapter 10 Exercise 2
[The following information applies to the questions displayed below.]
A sample of 36 observations is selected from a normal population. The sample
mean is 12, and the population standard deviation is 3. Conduct the following test
of hypothesis using the 0.01 significance level
H0: 10
H1: > 10
1. Award: 10 out of 10.00 points
a. Is this a one- or two-tailed test?
b. What is the decision rule?
c. What is the value of the test statistic?
d. What is your decision regarding H0?
e. What is the p-value?

Chapter 10 Exercise 10
Given the following hypotheses:
H0 : = 400
H1 : 400
9

## A random sample of 12 observations is selected from a normal population. The

sample mean was 407 and the sample standard deviation 6. Using the .01
significance level:
a. State the decision rule. (Negative amount should be indicated by a minus sign.
b. Compute the value of the test statistic. (Round your answer to 3 decimal places.)
c. What is your decision regarding the null hypothesis?

Chapter 10 Exercise 12
The management of White Industries is considering a new method of assembling
its golf cart. The present method requires 42.3 minutes, on the average, to assemble
a cart. The mean assembly time for a random sample of 24 carts, using the new
method, was 40.6 minutes, and the standard deviation of the sample was 2.7
minutes. Using the .10 level of significance, can we conclude that the assembly
time using the new method is faster?
a. What is the decision rule? (Negative amount should be indicated by a minus
b. Compute the value of the test statistic. (Negative amount should be indicated by
c. What is your decision regarding H0?

Chapter 10 Exercise 16

## Given the following hypotheses:

H0 : = 100
H1 : 100
10

A random sample of six resulted in the following values: 118, 105, 112, 119, 105,
and 111. Assume a normal population.
a. Using the .05 significance level, determine the decision rule? (Negative
amounts should be indicated by a minus sign. Round your answers to 3 decimal
places.)
b. Compute the value of the test statistic. (Round your answer to 2 decimal places.)
c-1. What is your decision regarding the H0?
c-2. Can we conclude the mean is different from 100?
d. Estimate the p-value.

Chapter 11 Exercise 2
A sample of 65 observations is selected from one population with a population
standard deviation of 0.75. The sample mean is 2.67. A sample of 50 observations
is selected from a second population with a population standard deviation of 0.66.
The sample mean is 2.59. Conduct the following test of hypothesis using the .08
significance level.
H0 : 1 2
H1 : 1 > 2
a. This a -tailed test.
b. State the decision rule. (Negative values should be indicated by a minus sign.
c. Compute the value of the test statistic. (Round your answer to 2 decimal places.)
d. What is your decision regarding H0?
e. What is the p-value? (Round your answer to 4 decimal places.)

11

Chapter 11 Exercise 8

## The null and alternate hypotheses are:

A random sample of 15 observations from the first population revealed a sample
mean of 350 and a sample standard deviation of 12. A random sample of 17
observations from the second population revealed a sample mean of 342 and a
sample standard deviation of 15.
At the .10 significance level, is there a difference in the population means?
a. This is a -tailed test.
b. The decision rule is to reject if (Negative amounts should be indicated by a
c. The test statistic is (Round your answer to 3 decimal places.)
d. What is your decision regarding?
e. The p-value is between and .

Chapter 11 Exercise 14

## The null and alternate hypotheses are:

H0: 1 2
H1: 1 > 2
A random sample of 20 items from the first population showed a mean of 100 and
a standard deviation of 15. A sample of 16 items for the second population showed
a mean of 94 and a standard deviation of 8. Use the .05 significant level.
a. Find the degrees of freedom for unequal variance test. (Round down your
answer to the nearest whole number.)
12

b. State the decision rule for .05 significance level. (Round your answer to 3
decimal places.)
c. Compute the value of the test statistic. (Round your answer to 3 decimal places.)
d. What is your decision regarding the null hypothesis? Use the .05 significance
level.

Chapter 12 Exercise 8
The following are six observations collected from treatment 1, four observations
collected from treatment 2, and five observations collected from treatment 3. Test
the hypothesis at the 0.05 significance level that the treatment means are equal.
Treatment1

Treatment 2

Treatment 3

13

10

20

11

14

15

13

14

12

15

10
a. State the null and the alternate hypothesis.
Ho :
H1 : Treatment means are all the same.
b. What is the decision rule? (Round your answer to 2 decimal places.)
c. Compute SST, SSE, and SS total. (Round your answers to 2 decimal places.)
d. Complete the ANOVA table. (Round SS, MS and F values to 2 decimal places.)
e. State your decision regarding the null hypothesis.
13

Chapter 12 Exercise 14

A stock analyst wants to determine whether there is a difference in the mean rate of
return for three types of stock: utility, retail, and banking stocks. The following
output is obtained:
a. Using the .05 level of significance, is there a difference in the mean rate of
return among the three types of stock?
b. Can the analyst conclude there is a difference between the mean rates of return
for utility and retail stocks? For utility and banking stocks? For banking and retail
stocks? Explain.

Chapter 12 Exercise 18
There are three hospitals in the Tulsa, Oklahoma, area. The following data show
the number of outpatient surgeries performed on Monday, Tuesday, Wednesday,
Thursday, and Friday at each hospital last week. At the 0.05 significance level, can
we conclude there is a difference in the mean number of surgeries performed by
hospital or by day of the week?
Number of Surgeries Performed
Day
St. Luke's
St. Vincent
Mercy
Monday

14
18
14

24
Tuesday
20
24
14

Wednesday

16
22
14

Thursday
18
20
22

Friday

20
28
24

15

## 1.Set up the null hypothesis and the alternative hypothesis.

For Treatment:
Null hypothesis
H0: St. Luke's = St. Vincent =

2. Alternative hypothesis
H1: Not all means are

3. For blocks:
Null hypothesis
H0: Mon = Tue = Wed = Thu =

4. Alternative hypothesis
H1: Not all means are

5. State the decision rule for .05 significance level. (Round your answers to 2
decimal places.)

For Treatment:
Reject H0 if F>
For blocks:
Reject H0 if F>

16

## 6. Complete the ANOVA table. (Round SS, MS and F to 2 decimal places.)

7.What is your decision regarding the null hypothesis?
The decision for the F value (Treatment) at 0.05 significance is:
Do not Reject

## 8. The decision for the F value (Block) at 0.05 significance is:

Do not Reject
9. Can we conclude there is a difference in the mean number of surgeries
performed by hospital or by day of the week?
There is no in the mean number of surgeries performed by hospital or by day of the
week.
Chapter 13 Exercise 16
Mr. James Mc Whinney, president of Daniel-James Financial Services, believes
there is a relationship between the number of client contacts and the dollar amount
of sales. To document this assertion, Mr. Mc Whinney gathered the following
sample information. The X column indicates the number of client contacts last
month, and the Y column shows the value of sales (\$ thousands) last month for
each client sampled.
Number of
Sales

Sales

Contacts,
thousands),

(\$ thousands),

X
Y

Number of

Y
14

Contacts,

(\$

X
24

30

17

23

12

14

48

20

28

50

16

30

55

46

80

50

90
85
120
110
a. Determine the regression equation. (Negative amounts should be indicated by a
minus sign. Do not round intermediate calculations. Round final answers to 2
decimal places.)
b. Determine the estimated sales if 40 contacts are made.(Do not round
intermediate calculations. Round final answers to 2 decimal places.)
Chapter 13 Exercise 18
We are studying mutual bond funds for the purpose of investing in several funds.
For this particular study, we want to focus on the assets of a fund and its five-year
performance. The question is: Can the five-year rate of return be estimated based
on the assets of the fund? Nine mutual funds were selected at random, and their
assets and rates of return are shown below.
Assets

Return

(\$ millions)

(%)

Assets

Return
Fund
millions)

Fund

(\$

(%)

## AARP High Quality Bond

11.6

\$622.20

10.8

MFS Bond A

Babson Bond L
9.5

160.4

11.3

Nichols Income

Compass Capital
18

\$494.50
158.3

Fixed Income

275.7

11.4

T. Rowe Price
Short-term

681

Thompson Income B

241.3

8.2
Galaxy Bond Retail
6.8

433.2

9.1

437.9

9.2

## b-1. Compute the coefficient of correlation. (Round your answer to 3 decimal

places. Negative amount should be indicated by a minus sign.)
b-2. Compute the coefficient of determination. (Round your answer to 3 decimal
places.)
c. Give a description of the degree of association between the variables.
d. Determine the regression equation. Use assets as the independent variable.
(Round your answers to 4 decimal places. Negative amounts should be indicated
by a minus sign.)
e. For a fund with \$400.0 million in sales, determine the five-year rate of return (in

Chapter 13 Exercise 30
On the first statistics exam, the coefficient of determination between the hours
studied and the grade earned was 80%. The standard error of estimate was 10.
There were 20 students in the class. Develop an ANOVA table for the regression
analysis of hours studied as a predictor of the grade earned on the first statistics
exam.
Source

DF

SS

MS

Regression
Error
Total
19

## QNT 561 Week 5 Weekly Learning Assessments

Chapter 13 Exercise 6
The owner of Maumee Ford-Mercury-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a random sample of
12 used cars sold at the dealership during the last year.
Car

Age (years)

Selling Car

Age (years)

## Selling Price (\$000)

Price (\$000)
1
7.6

8.1

2
8.0

6.0

11

3
8.0

11

3.6

10

4
6.0

12

4.0

10

12

5
8.6

5.0

11

6
8.0

10.0

12

a. If we want to estimate selling price on the basis of the age of the car, which
variable is the dependent variable and which is the independent variable?
b-1. Determine the correlation coefficient. (Negative amounts should be indicated
b-2. Determine the coefficient of determination. (Round your answer to 3 decimal
places.)
c. Interpret the correlation coefficient. Does it surprise you that the correlation
20

Chapter 13 Exercise 12
The Student Government Association at Middle Carolina University wanted to
demonstrate the relationship between the number of beers a student drinks and his
or her blood alcohol content (BAC). A random sample of 18 students participated
in a study in which each participating student was randomly assigned a number of
12-ounce cans of beer to drink. Thirty minutes after they consumed their assigned
number of beers, a member of the local sheriffs office measured their blood
alcohol content. The sample information is reported below.
Student
BAC

Beers

BAC

Student

Beers

1
0.07

0.1

10

2
0.05

0.09

11

3
0.08

0.09

12

4
0.04

0.1

13

5
0.07

0.1

14

6
0.06

0.07

15

7
0.12

0.1

16

8
0.05

0.12

17

9
0.02

0.09

18

21

## Use a statistical software package to answer the following questions.

a-1. Choose a scatter diagram that best fits the data.
Picture
Picture
Picture
Picture

## b. Fill in the blanks below. (Round your answers to 3 decimal places.)

c. Determine the coefficient of correlation and coefficient of determination. (Round
c-1. State the decision rule for .01 significance level: H0: 0; H1: > 0. (Round

c-2. Compute the value of the test statistic. (Round your answer to 2 decimal
places.)
c-3. What is the p-value? (Hint: use your analysis software) (Round p-value to 4
decimal places.)
c-4. At the .01 significance level, is it reasonable to conclude that there is a
positive relationship in the population between the number of beers consumed and
the BAC?

Chapter 13 Exercise 14
The following sample observations were randomly selected.
a. Determine the regression equation. (Negative amounts should be indicated by a
22

## b. Determine the value of when X is 7. (Round your answer to 3 decimal places.)

Chapter 13 Exercise 22
The owner of Maumee Ford-Mercury-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a random sample of
12 used cars sold at the dealership during the last year.
Car
Age (years)
Selling Price (\$000)

## Selling Price (\$000)

Car

Age (years)

1
7.6

8.1

2
8

11

3
8

11

3.6

10

4
6

12

10

12

5
8.6

11

6
8

10

12

The regression equation is, the sample size is 12, and the standard error of the
slope is 0.23. Use the .05 significance level. Can we conclude that the slope of the
regression line is less than zero?
Chapter 13 Exercise 26
The owner of Maumee Ford-Mercury-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a random sample of
12 used cars sold at the dealership during the last year.
Car

Age (years)

23

8.1

6.0

11

3.6

12

4.0

5.0

10.0

7.6

11

8.0

10

8.0

10

12

6.0

11

8.6

12

8.0

## a. Determine the standard error of estimate. (Round your answer to 3 decimal

places.)
b. Determine the coefficient of determination. (Round your answer to 3 decimal
places.)
c. Interpret the coefficient of determination. (Round your answer to the nearest
whole number.)

Chapter 14 Exercise 2
Thompson Photo Works purchased several new, highly sophisticated processing
machines. The production department needed some guidance with respect to
qualifications needed by an operator. Is age a factor? Is the length of service as an
operator (in years) important? In order to explore further the factors needed to
estimate performance on the new processing machines, four variables were listed:
24

## X1 = Length of time an employee was in the industry

X2 = Mechanical aptitude test score
X3 = Prior on-the-job rating
X4 = Age
Performance on the new machine is designated y.
Thirty employees were selected at random. Data were collected for each, and their
performances on the new machines were recorded. A few results are:
Mechanical

Performance
Prior

on New
On-the-Job
Machine,
Performance,

Length of
Time in

Aptitude

Industry,
Age,

Score,

Name
X2

Y
X3

X1

Mike Miraglia
121

112
52

12

Sue Trythall
123

113
27

X4

## The equation is:

= 11.6 + 0.4X1 + 0.286X2 + 0.112X3 + 0.002X4
a. What is this equation called?
b. How many dependent and independent variables are there?
c. What is the number 0.286 called?

25

312
380

d. As age increases by one year, how much does estimated performance on the new
e. Carl Knox applied for a job at Photo Works. He has been in the business for 6
years and scored 280 on the mechanical aptitude test. Carls prior on-the-job
performance rating is 97, and he is 35 years old. Estimate Carls performance on

Chapter 14 Exercise 6
Consider the ANOVA table that follows.
Analysis of Variance Source
MS
F
Regression
742

DF

SS
5

3710

12.89

Residual Error
2647.38 57.55

46

Total
6357.38

51

a-1. Determine the standard error of estimate. (Round your answer to 2 decimal
places.)
a-2. About 95% of the residuals will be between what two values? (Round your
b-1. Determine the coefficient of multiple determination. (Round your answer to 3
decimal places.)
b-2. Determine the percentage variation for the independent variables. (Round your
c. Determine the coefficient of multiple determination, adjusted for the degrees of
26

Chapter 14 Exercise 8
The following regression output was obtained from a study of architectural firms.
The dependent variable is the total amount of fees in millions of dollars.
Predictor

Co eff

SE Co eff

&n

## QNT 561 Week 5 Weekly Learning Assessments

Chapter 13 Exercise 6
The owner of Maumee Ford-Mercury-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a random sample of
12 used cars sold at the dealership during the last year.
Car

Age (years)

Selling Car

Age (years)

## Selling Price (\$000)

Price (\$000)
1
7.6

8.1

2
8.0

6.0

11

3
8.0

11

3.6

10

4
6.0

12

4.0

10

12

5
8.6

5.0

11

6
8.0

10.0

12

a. If we want to estimate selling price on the basis of the age of the car, which
variable is the dependent variable and which is the independent variable?
27

## b-1. Determine the correlation coefficient. (Negative amounts should be indicated

b-2. Determine the coefficient of determination. (Round your answer to 3 decimal
places.)
c. Interpret the correlation coefficient. Does it surprise you that the correlation

Chapter 13 Exercise 12
The Student Government Association at Middle Carolina University wanted to
demonstrate the relationship between the number of beers a student drinks and his
or her blood alcohol content (BAC). A random sample of 18 students participated
in a study in which each participating student was randomly assigned a number of
12-ounce cans of beer to drink. Thirty minutes after they consumed their assigned
number of beers, a member of the local sheriffs office measured their blood
alcohol content. The sample information is reported below.
Student
BAC

Beers

BAC

Student

Beers

1
0.07

0.1

10

2
0.05

0.09

11

3
0.08

0.09

12

4
0.04

0.1

13

5
0.07

0.1

14

28

6
0.06

0.07

15

7
0.12

0.1

16

8
0.05

0.12

17

9
0.02

0.09

18

## Use a statistical software package to answer the following questions.

a-1. Choose a scatter diagram that best fits the data.

Picture
Picture
Picture
Picture
b. Fill in the blanks below. (Round your answers to 3 decimal places.)
c. Determine the coefficient of correlation and coefficient of determination. (Round
c-1. State the decision rule for .01 significance level: H0: 0; H1: > 0. (Round
c-2. Compute the value of the test statistic. (Round your answer to 2 decimal
places.)
c-3. What is the p-value? (Hint: use your analysis software) (Round p-value to 4
decimal places.)

29

## c-4. At the .01 significance level, is it reasonable to conclude that there is a

positive relationship in the population between the number of beers consumed and
the BAC?

Chapter 13 Exercise 14
The following sample observations were randomly selected.
a. Determine the regression equation. (Negative amounts should be indicated by a

## b. Determine the value of when X is 7. (Round your answer to 3 decimal places.

Chapter 13 Exercise 22

## The owner of Maumee Ford-Mercury-Volvo wants to study the relationship

between the age of a car and its selling price. Listed below is a random sample of
12 used cars sold at the dealership during the last year.

Car
Age (years)
Selling Price (\$000)

## Selling Price (\$000)

Car

Age (years)

1
7.6

8.1

2
8

11

3
8

11

3.6

30

10

4
6

12

10

12

5
8.6

11

6
8

10

12

The regression equation is, the sample size is 12, and the standard error of the
slope is 0.23. Use the .05 significance level. Can we conclude that the slope of the
regression line is less than zero?

Chapter 13 Exercise 26
The owner of Maumee Ford-Mercury-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a random sample of
12 used cars sold at the dealership during the last year.

Car

Age (years)

8.1

6.0

11

3.6

12

4.0

5.0

10.0

7.6

11

8.0

10

8.0
31

10

12

6.0

11

8.6

12

8.0

## a. Determine the standard error of estimate. (Round your answer to 3 decimal

places.)
b. Determine the coefficient of determination. (Round your answer to 3 decimal
places.
c. Interpret the coefficient of determination. (Round your answer to the nearest
whole number.)

Chapter 14 Exercise 2
Thompson Photo Works purchased several new, highly sophisticated processing
machines. The production department needed some guidance with respect to
qualifications needed by an operator. Is age a factor? Is the length of service as an
operator (in years) important? In order to explore further the factors needed to
estimate performance on the new processing machines, four variables were listed:
X1 = Length of time an employee was in the industry
X2 = Mechanical aptitude test score
X3 = Prior on-the-job rating
X4 = Age
Performance on the new machine is designated y.
Thirty employees were selected at random. Data were collected for each, and their
performances on the new machines were recorded. A few results are:
Mechanical

Performance
Prior

Length of

32

on New
On-the-Job
Machine,
Performance,

Time in

Aptitude

Industry,
Age,

Score,

Name
X2

Y
X3

X1

Mike Miraglia
121

112
52

12

Sue Trythall
123

113
27

X4
312
380

## The equation is:

= 11.6 + 0.4X1 + 0.286X2 + 0.112X3 + 0.002X4

## a. What is this equation called?

b. How many dependent and independent variables are there?
c. What is the number 0.286 called?
d. As age increases by one year, how much does estimated performance on the new

e. Carl Knox applied for a job at Photo Works. He has been in the business for 6
years and scored 280 on the mechanical aptitude test. Carls prior on-the-job
performance rating is 97, and he is 35 years old. Estimate Carls performance on

33

Chapter 14 Exercise 6

## Consider the ANOVA table that follows.

Analysis of Variance Source
MS
F
Regression
742

DF

SS
5

3710

12.89

Residual Error
2647.38 57.55

46

Total
6357.38

51

a-1. Determine the standard error of estimate. (Round your answer to 2 decimal
places.)
a-2. About 95% of the residuals will be between what two values? (Round your
b-1. Determine the coefficient of multiple determination. (Round your answer to 3
decimal places.)
b-2. Determine the percentage variation for the independent variables. (Round your
c. Determine the coefficient of multiple determination, adjusted for the degrees of

Chapter 14 Exercise 8

The following regression output was obtained from a study of architectural firms.
The dependent variable is the total amount of fees in millions of dollars.
34

Predictor

Co eff

SE Co eff

&n

## QNT 561 Week 6 Weekly Learning Assessments

Chapter 18 Exercise 2

Listed below is the number of movie tickets sold at the Library Cinema-Complex,
in thousands, for the period from 2001 to 2013. Compute a five-year weighted
moving average using weights of 0.15, 0.1, 0.2, 0.17, and 0.38, respectively.
Describe the trend in yield. (Round your answers to 3 decimal places.)
2001

8.41

2002

8.14

2003

7.77

2004

6.59

2005

7.17

2006

6.78

2007

6.81

2008

6.51

2009

5.78

2010

5.57

2011

5.84

2012

5.59

2013

5.53

35

Chapter 18 Exercise 10
Appliance Center sells a variety of electronic equipment and home appliances. For
the last 4 years, 2010 through 2013, the following quarterly sales (in \$ millions)
were reported.
Year

II

III

IV

2010

5.3

4.1

6.8

6.7

2011

4.8

3.8

5.6

6.8

2012

4.3

3.8

5.7

2013

5.6

4.6

6.4

5.9

Determine a typical seasonal index (adjusted) for each of the four quarters. (Round