1.A marketing researcher wants to estimate the mean savings ($) realized by shoppers

| August 30, 2017

Question
1.A marketing researcher wants to estimate the mean savings ($) realized by shoppers who showroom. Showrooming is the practice of inspecting products in retail stores and then purchasing the products online at a lower price. You want to test whether the population mean savings for all showroomers who purchased a consumer electronics item is different from $50.
1. The Type I error in the context of this question is_____________

A. The population mean saving for all showroomers who purchased a consumer electronics item is different from 50$.

B. The population mean saving for all showroomers who purchased a consumer electronics item is not different from 50$.

C. The population mean saving for all showroomers who purchased a consumer electronics item is different from 50$ and you conclude that it is not.

D. The population mean saving for all showroomers who purchased a consumer electronics item is not different from 50$ and you conclude that it is.

2.The Type II error in the context of this question is____________

A. The population mean saving for all showroomers who purchased a consumer electronics item is different from 50$.

B. The population mean saving for all showroomers who purchased a consumer electronics item is not different from 50$.

C. The population mean saving for all showroomers who purchased a consumer electronics item is different from 50$ and you conclude that it is not.

D. The population mean saving for all showroomers who purchased a consumer electronics item is not different from 50$ and you conclude that it is.

3.A manufacturer of chocolate candies uses machines to package candies as they move along a filling line. Although the packages are labeled as 8 ounces, the company wants the packages to contain a mean of 8.17 ounces so that virtually none of the packages contain less than 8 ounces. You want to test whether the population mean amount is different from 8.17 ounces.

Suppose thep-value of the evidence for this test is 0.32. Using a 0.10 level of significance, your decision for the test should be to_________

A. to reject the null hypothesis

B. to not reject the null hypothesis

C. to accept the null hypothesis

D. reject the alternative hypothesis

4. An insurance company has the business objective of reducing the amount of time it takes to approve applications for life insurance. The ability to deliver approved policies to customers in a timely manner is critical to the profitability of this service. You want to test whether the mean processing time was 45 days.

Suppose you decide to reject the null hypothesis based on the p-value of the evidence obtained. Your conclusion should be that__________

A. there is insufficient evidence that the mean processing time was 45 days.

B. there is insufficient evidence that the mean processing time was not 45 days.

C. there is sufficient evidence that the mean processing time was 45 days.

D. there is sufficient evidence that the mean processing time was not 45 days.

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