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Hypothesis Testing And Probability Analysis Solve Business Problems
Order Number 45471455714
Type of Paper
Essay Writer Classification Level
Undergraduate
Style of Writing
MLA/APA/CHICAGO/
Sources and References 5
Number of Pages
4
Paper Instructions
In this assignment, you will be assessed based on the following outcome:
GB513-2: Apply hypothesis testing and probability analysis to solve business problems.
This assignment has two parts. Part 1 has questions about probability calculations. Part 2 has questions about hypothesis testing. You will use Excel only in Question 6. All other questions should be calculated manually. Follow all instructions carefully.
Make sure to use the Unit 3 Assignment template located in the Course Documents module to submit your answers. Type in your calculations. Pictures of hand written work are not acceptable.
Part 1
Question 1
In a class where the exam averages are normally distributed, the mean score is 75 and the standard deviation is 15. If you want to find out the probability that a randomly picked student has scored 105 or above, what is the z-value that you should look up on the normal distribution table?
Question 2
According to a report by Scarborough Research, the average monthly household cellular phone bill is $73. Suppose local monthly household cell phone bills are normally distributed with a standard deviation of $22.
a. What is the probability that a randomly selected monthly cell phone bill is less than $95?
b. What is the probability that a randomly selected monthly cell phone bill is between $62 and $84?
Question 3
A Travel Weekly International Air Transport Association survey asked business travelers about the purpose for their most recent business trip. 19% responded that it was for an internal company visit. Suppose 950 business travelers are randomly selected.
a. What is the probability that more than 20% of the business travelers say that the reason for their most recent business trip was an internal company visit?
b. What is the probability that between 18% and 20% of the business travelers say that the reason for their most recent business trip was an internal company visit?
Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is $3.16. You believe that the figure is higher in your area of the country. You decide to test this claim for your area of the United States by randomly calling gasoline stations. Your random survey of 25 stations produces the following prices (all in dollars). Assume gasoline prices for a region are normally distributed.
Did the data you obtained provide enough evidence to reject the claim? Use a 1% level of significance.
Make sure you clearly state both the null and the alternative hypotheses in full sentences. Following your calculations, clearly state the conclusion in the same manner (do not simply say “accept/reject null”) and explain how you arrived at this conclusion (based on which metrics).
3.27
3.3
3.16
3.15
3.11
3.05
3.54
3.25
3.05
3.11
3.13
3.15
3.27
3.14
3.14
3.2
3.3
3.09
3.05
3.07
3.37
3.34
3.35
3.35
3.1
Question 5
Where do CFOs get their money news? According to Robert Half International, 47% get their money news from newspapers, 15% get it from communication/colleagues, 12% get it from television, 11% from the Internet, 9% from magazines, 5% from radio, and 1% do not know. Suppose a researcher wants to test these results. She randomly samples 76 CFOs and finds that 40 of them get their money news from newspapers. Does the test show enough evidence to reject the findings of Robert Half International? Use a = .05.
Make sure you clearly state both the null and the alternative hypotheses in full sentences. Following your calculations, clearly state the conclusion in the same manner (do not simply say “accept/reject null”) and explain how you arrived at this conclusion (based on which metrics).
Question 6
To answer this question, use the Data Analysis Toolpack in Excel and select “t-Test: Two-Sample Assuming Equal Variances” from the list of available tools. Conduct a hypothesis test using this tool. Explain your answer (how you decided if men spend more or not) and include the output table.
Some studies have shown that in the United States, men spend more than women buying gifts and cards on Valentine’s Day. Suppose a researcher wants to test this hypothesis by randomly sampling men and women with comparable demographic characteristics from various large cities across the United States to be in a study. Each study participant is asked to keep a log beginning 1 month before Valentine’s Day and record all purchases made for Valentine’s Day during that 1-month
period. The resulting data are shown below. Use these data and a 1% level of significance to test to determine if, on average, men actually do spend significantly more than women on Valentine’s Day. Assume that such spending is normally distributed in the population and that the population variances are equal.
Make sure you clearly state both the null and the alternative hypotheses in full sentences. Include the output table; then, clearly state the conclusion in the same manner (do not simply say “accept/reject null”) and explain how you arrived at this conclusion (based on which metrics).
Men
Women
107.48
125.98
143.61
59.32
90.19
96.35
125.53
80.62
70.79
77.6
83
84.34
129.63
75.21
154.22
68.48
93.8
65.84
111.25
126.11
78.6
82.54
89.35
123.5
Distinguished (100%)
Proficient (85%)
Basic (70%)
Below Expectations (50%)
Non-Performance (0%)
Thesis Statement Raises the strongest objection to the thesis presented in the assignment. The objection is strongly grounded in research and logical reasoning. Raises a plausible objection to the thesis presented in the assignment. The objection is mostly grounded in research and logical reasoning.
Raises an objection to the thesis presented in the assignment. The objection is somewhat grounded in research and logical reasoning. Attempts to raise an objection to the thesis presented in the assignment. The objection is minimally grounded in research and logical reasoning.
The objection to the thesis is either nonexistent or lacks the components described in the assignment instructions. Counter Argument Provides a strong, thorough rebuttal to the objection. The rebuttal effectively demonstrates that the thesis can withstand the objection and applies the principles of charity and accuracy.
Provides a rebuttal to the objection. The rebuttal mostly demonstrates that the thesis can withstand the objection and mostly applies the principles of charity and accuracy.
Provides a limited rebuttal to the objection. The rebuttal somewhat demonstrates that the thesis can withstand the objection and somewhat applies the principles of charity and accuracy.
Attempts to provide a rebuttal to the objection; however, the rebuttal minimally demonstrates that the thesis can withstand the objection and does not apply the principles of charity and accuracy.
The rebuttal is either nonexistent or lacks the components described in the assignment instructions. Conclusion Provides clear and concise closing remarks that comprehensively summarize the essay. The remarks consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problem.
Provides closing remarks that summarize the essay. The remarks mostly consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problem. The closing remarks are somewhat unclear.
Provides closing remarks that minimally summarizes the essay. The remarks minimally consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problems. The closing remarks are unclear and/or vague.
Attempts to provide closing remarks that summarize the essay; however, the remarks do not consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problem. The closing remarks are unclear and vague. The closing remarks are either nonexistent or lack the components described in the assignment instructions.
Written Communication: Context of and Purpose for Writing
Demonstrates methodical application of organization and presentation of content. The purpose of the writing is evident and easy to understand. Summaries, quotes, and/or paraphrases fit naturally into the sentences and paragraphs. Paper flows smoothly.
Demonstrates sufficient application of organization and presentation of content. The purpose of the writing is, for the most part, clear and easy to understand. There are some problems with the blending of summaries, paraphrases, and quotes. Paper flows somewhat smoothly. Demonstrates a limited understanding of organization and presentation of content in written work. The purpose of the writing is somewhat evident but may not be integrated throughout the assignment. There are many problems with the blending of summaries, paraphrases, and quotes. Paper does not flow smoothly in all sections.
Organization and presentation of content are extremely limited. The purpose of the writing is unclear. There is little or no blending of summaries, paraphrases, and quotes. Paper does not flow smoothly when read.
The assignment is either nonexistent or lacks the components described in the instructions.
Written Communication: Control of Syntax and Mechanics
– Displays meticulous comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains no errors and is very easy to understand.
Displays comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains only a few minor errors and is mostly easy to understand Displays basic comprehension of syntax and mechanics, such as spelling and grammar. Written work contains a few errors which may slightly distract the reader.
Fails to display basic comprehension of syntax or mechanics, such as spelling and grammar. Written work contains major errors which distract the reader.
The assignment is either nonexistent or lacks the components described in the instructions.
Written Communication: Required Formatting
Accurately uses required formatting consistently throughout the paper, title page, and reference page.
Exhibits required formatting throughout the paper. However, layout contains a few minor errors. Exhibits limited knowledge of required formatting throughout the paper. However, layout does not meet all requirements.
Fails to exhibit basic knowledge of required formatting. There are frequent errors, making the layout difficult to distinguish as required style.
The assignment is either nonexistent or lacks the components described in the instructions.
Written Communication: Word Requirement
The length of the paper is equivalent to the required number of words. The length of the paper is nearly equivalent to the required number of words.
The length of the paper is equivalent to at least three quarters of the required number of words. The length of the paper is equivalent to at least one half of the required number of words.
The assignment is either nonexistent or lacks the components described in the instructions.
Written Communication: Resource Requirement Uses more than the required number of scholarly sources, providing compelling evidence to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment.
Uses the required number of scholarly sources to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment.
Uses less than the required number of sources to support ideas. Some sources may not be scholarly. Most sources on the reference page are used within the body of the assignment. Citations may not be formatted correctly. Uses an inadequate number of sources that provide little or no support for ideas. Sources used may not be scholarly. Most sources on the reference page are not used within the body of the assignment. Citations are not formatted correctly.
The assignment is either nonexistent or lacks the components described in the instructions. https://essaysolving.com/orders/ordernow
