A consumer advocate agency is concerned about reported failures of two brands of MP3 players, which we will label Brand A and Brand B. In a random sample of 197 Brand A players, 33 units failed within 1 year of purchase. Of the 290 Brand B players, 25 units were reported to have failed within the first year following purchase. The agency is interested in the difference between the population proportions, , for the two brands. What is the 99% confidence interval estimate of the true difference, ?

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general 10 months ago 6607

The competitive advantage of small American factories such as Tolerance Contract Manufacturing lies in their ability to produce parts with highly narrow requirements, or tolerances, that are typical in the aerospace industry. Consider a product with specifications that call for a maximum variance in the lengths of the parts of 0.0004. Suppose the sample variance for 30 parts turns out to be s2 = 0.0005. Use α = 0.05 to test whether the population variance specification is being violated.

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general 10 months ago 8615

15. If other factors are held constant, what is the effect of decreasing the sample size? a. It will increase the estimated standard error and increase the likelihood of rejecting H0 b. It will increase the estimated standard error and decrease the likelihood of rejecting H0 c. It will decrease the estimated standard error and increase the likelihood of rejecting H0 d. It will decrease the estimated standard error and decrease the likelihood of rejecting H0

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general 10 months ago 3411

Jane and Joan are twins. They both went to work at age 25 with similar jobs, and at the end of each year they will be receiving bonuses of $2000. But there was one (BIG?) difference: Jane is conservative and concerned about her future. Her plan is to invest her $2000 bonus each year in a retirement savings program until age 35, and then have some fun in life by spending the remaining bonuses on Caribbean vacations until she retires at 65. Joan, on the other hand, is convinced she should take opportunities to enjoy life and not be too concerned about saving for the future early on. For the first ten years she plans to spend her $2000 bonuses on vacations in the Bahamas. At age 35, she will start saving for her future and from that time on she will invest her $2000 bonuses until she retires at 65. Each sister is proud of her well-thought-out plan, but who will have more???Your Job: Investigate what happens to each sister’s money over time assuming a long term annual rate of 7%. Write a report to the sisters instructing them on the best plan, be sure to point out who invested more and who had more money at retirement.

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general 10 months ago 9122