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Business Analytics Study Set 2
Quiz 7: Statistical Inference
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Question 21
Multiple Choice
Which of the following 2016 Excel functions computes the p-value for the chi-square test?
Question 22
Multiple Choice
Which of the following is true while applying the Excel ANOVA tool?
Question 23
True/False
In a two-sample test for means with the population variance being known, the z-test uses a test statistic that is based on the standard normal distribution.
Question 24
Multiple Choice
For a lower-tail test, the p-value in the output from an Excel tool:
Question 25
True/False
In conducting a hypothesis test, what is usually to be proven statistically is identified as the null hypothesis.
Question 26
True/False
For a two-sample test for means with the population variance being known, the Excel procedure used is the Excel z-test.
Question 27
Multiple Choice
Which of the following Excel tools is used for a two-sample test for equality of variances?
Question 28
Essay
Use the data given below to answer the following questions). The following extract from a manufacturer's database shows a sample of 10 suppliers, their transportation charges, and the estimated and actual total costs of supplying materials. Note: Assume a significance level of 0.05 wherever necessary.)
Ā SupplierĀ
Ā TransportationĀ
Ā ChargesĀ
Ā EstirnatedĀ TotalĀ
Ā CostĀ
Ā ActualĀ TotalĀ CostĀ
Ā PeterĀ
340
4
,
500
4
,
680
Ā JdhryĀ
560
4
,
500
4
,
790
Ā MartinĀ
480
4
,
500
5
,
110
Ā PhilipĀ
290
4
,
500
4
,
780
Ā MarkĀ
370
4
,
500
4
,
810
Ā ThomasĀ
520
4
,
500
4
,
770
Ā JaisonĀ
350
4
,
500
5
,
250
Ā DavidĀ
430
4
,
500
4
,
930
Ā CarterĀ
510
4
,
500
5
,
010
Ā LeonardĀ
270
4
,
500
4
,
810
\begin{array} { | l | c | c | c | } \hline \text { Supplier } & \begin{array} { c } \text { Transportation } \\\text { Charges }\end{array} & \begin{array} { c } \text { Estirnated Total } \\\text { Cost }\end{array} & \text { Actual Total Cost } \\\hline \text { Peter } & 340 & 4,500 & 4,680 \\\hline \text { Jdhry } & 560 & 4,500 & 4,790 \\\hline \text { Martin } & 480 & 4,500 & 5,110 \\\hline \text { Philip } & 290 & 4,500 & 4,780 \\\hline \text { Mark } & 370 & 4,500 & 4,810 \\\hline \text { Thomas } & 520 & 4,500 & 4,770 \\\hline \text { Jaison } & 350 & 4,500 & 5,250 \\\hline \text { David } & 430 & 4,500 & 4,930 \\\hline \text { Carter } & 510 & 4,500 & 5,010 \\\hline \text { Leonard } & 270 & 4,500 & 4,810 \\\hline\end{array}
Ā SupplierĀ
Ā PeterĀ
Ā JdhryĀ
Ā MartinĀ
Ā PhilipĀ
Ā MarkĀ
Ā ThomasĀ
Ā JaisonĀ
Ā DavidĀ
Ā CarterĀ
Ā LeonardĀ
ā
Ā TransportationĀ
Ā ChargesĀ
ā
340
560
480
290
370
520
350
430
510
270
ā
Ā EstirnatedĀ TotalĀ
Ā CostĀ
ā
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
ā
Ā ActualĀ TotalĀ CostĀ
4
,
680
4
,
790
5
,
110
4
,
780
4
,
810
4
,
770
5
,
250
4
,
930
5
,
010
4
,
810
ā
ā
-Conduct the appropriate type of one-sample test-statistic to determine whether the average transportation charge is less than $430. Apply a decision rule using the observed level of significance and draw a conclusion.
Question 29
Essay
Use the data given below to answer the following questions). The following extract from a manufacturer's database shows a sample of 10 suppliers, their transportation charges, and the estimated and actual total costs of supplying materials. Note: Assume a significance level of 0.05 wherever necessary.)
Ā SupplierĀ
Ā TransportationĀ
Ā ChargesĀ
Ā EstirnatedĀ TotalĀ
Ā CostĀ
Ā ActualĀ TotalĀ CostĀ
Ā PeterĀ
340
4
,
500
4
,
680
Ā JdhryĀ
560
4
,
500
4
,
790
Ā MartinĀ
480
4
,
500
5
,
110
Ā PhilipĀ
290
4
,
500
4
,
780
Ā MarkĀ
370
4
,
500
4
,
810
Ā ThomasĀ
520
4
,
500
4
,
770
Ā JaisonĀ
350
4
,
500
5
,
250
Ā DavidĀ
430
4
,
500
4
,
930
Ā CarterĀ
510
4
,
500
5
,
010
Ā LeonardĀ
270
4
,
500
4
,
810
\begin{array} { | l | c | c | c | } \hline \text { Supplier } & \begin{array} { c } \text { Transportation } \\\text { Charges }\end{array} & \begin{array} { c } \text { Estirnated Total } \\\text { Cost }\end{array} & \text { Actual Total Cost } \\\hline \text { Peter } & 340 & 4,500 & 4,680 \\\hline \text { Jdhry } & 560 & 4,500 & 4,790 \\\hline \text { Martin } & 480 & 4,500 & 5,110 \\\hline \text { Philip } & 290 & 4,500 & 4,780 \\\hline \text { Mark } & 370 & 4,500 & 4,810 \\\hline \text { Thomas } & 520 & 4,500 & 4,770 \\\hline \text { Jaison } & 350 & 4,500 & 5,250 \\\hline \text { David } & 430 & 4,500 & 4,930 \\\hline \text { Carter } & 510 & 4,500 & 5,010 \\\hline \text { Leonard } & 270 & 4,500 & 4,810 \\\hline\end{array}
Ā SupplierĀ
Ā PeterĀ
Ā JdhryĀ
Ā MartinĀ
Ā PhilipĀ
Ā MarkĀ
Ā ThomasĀ
Ā JaisonĀ
Ā DavidĀ
Ā CarterĀ
Ā LeonardĀ
ā
Ā TransportationĀ
Ā ChargesĀ
ā
340
560
480
290
370
520
350
430
510
270
ā
Ā EstirnatedĀ TotalĀ
Ā CostĀ
ā
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
4
,
500
ā
Ā ActualĀ TotalĀ CostĀ
4
,
680
4
,
790
5
,
110
4
,
780
4
,
810
4
,
770
5
,
250
4
,
930
5
,
010
4
,
810
ā
ā
-On studying the database, the manufacturer found out that the average difference between the estimated and actual total costs was $394. Based on the sample data, can the manufacturer conclude that the average difference between the estimated and actual total costs is different from zero?
Question 30
Multiple Choice
Use the data given below to answer the following questions) . In a lower one-tailed hypothesis test, chosen level of significance = 0.10, sample size = 55, and t- test statistic = -1.76. -Which of the following is the conclusion?