Exercise 9.32 METHODS AND APPLICATIONS Bayus (1991) studied the mean numbers of
ID: 3437362 • Letter: E
Question
Exercise 9.32 METHODS AND APPLICATIONS
Bayus (1991) studied the mean numbers of auto dealers visited by early and late replacement buyers. Letting be the mean number of dealers visited by all late replacement buyers, set up the null and alternative hypotheses needed if we wish to attempt to provide evidence that differs from 4 dealers. A random sample of 100 late replacement buyers yields a mean and a standard deviation of the number of dealers visited of = 4.26 and s = .52. Using a critical value and assuming approximate normality to test the hypotheses you set up by setting equal to .10, .05, .01, and .001. Do we estimate that is less than 4 or greater than 4? (Round your answers to 3 decimal places.)
Explanation / Answer
>>
H0 : = 4 versus Ha : 4
>>
t = ( X - X-bar) / (Sample SD / sqrt(n))
= (4.26 -4 ) / (0.52/sqrt(100))
= 5 Answer
>> dF = 100-1 = 99
t/2 =0.0005= 3.174
Critical value is less than t value
Therefore , Greater than 4 Answer
t/2 = 0.05= 1.66 t/2 =0.025= 1.984 t/2 =0.005= 2.626t/2 =0.0005= 3.174
Critical value is less than t value
Therefore , Greater than 4 Answer
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