Questions from Business Statistics

Q: Carl Allen and Norm Nixon are two loan officers at Brea Federal

Carl Allen and Norm Nixon are two loan officers at Brea Federal Savings and Loan Bank. The bank manager is interested in comparing the default rate on the loans approved by Carl to the default rate on...

Q: The range for a set of data is estimated to be 36

The range for a set of data is estimated to be 36. a. What is the planning value for the population standard deviation? b. At 95% confidence, how large a sample would provide a margin of error of 3? c...

Q: Condé Nast Traveler conducts an annual survey in which readers rate their

Condé Nast Traveler conducts an annual survey in which readers rate their favorite cruise ship. All ships are rated on a 100-point scale, with higher values indicating better service. A sample of 37 s...

Q: USA Today reports that the average expenditure on Valentine’s Day is $

USA Today reports that the average expenditure on Valentine’s Day is $100.89. Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 40 male consu...

Q: Suppose that you are responsible for making arrangements for a business convention

Suppose that you are responsible for making arrangements for a business convention and that you have been charged with choosing a city for the convention that has the least expensive hotel rooms. You...

Q: Consumer Reports uses a survey of readers to obtain customer satisfaction ratings

Consumer Reports uses a survey of readers to obtain customer satisfaction ratings for the nation’s largest supermarkets (Consumer Reports, https://www.consumerreports.org/products/grocery-stores-super...

Q: Will improving customer service result in higher stock prices for the companies

Will improving customer service result in higher stock prices for the companies providing the better service? “When a company’s satisfaction score has improved over...

Q: The following results are for independent random samples taken from two populations

The following results are for independent random samples taken from two populations. Sample 1 ……………………………………. Sample 2 n1 = 20 …………………………………………. n2 = 30 x̅1 = 22.5 …………………………………….. x̅2 = 20.1 σ1 = 2....

Q: Find the following chi-square distribution values from Table 11.

Find the following chi-square distribution values from Table 11.1 or Table 3 of Appendix B. a. χ2.05 with df = 5 b. χ2.025 with df = 15 c. χ2.975 with df = 20 d. χ2.01 with df = 10 e. χ2.95 with df =...

Q: Consumer Reports uses a 100-point customer satisfaction score to rate

Consumer Reports uses a 100-point customer satisfaction score to rate the nation’s major chain stores. Assume that from past experience with the satisfaction rating score, a populati...