Question

A national study of people who purchase cars found the mean age of a car buyer to be 48 and the population standard deviation 4 years. Your dealership decides to see if your customers fit this same pattern. A sample of 80 customers found the mean to be 46 years of age. Are your customers younger than the national average at the .005 level of significance? Use the five-step procedure to answer the question and include the p-value.

Answer #1

Solution :

This is the two tailed test .

The null and alternative hypothesis is ,

H_{0} :
= 48

H_{a} :
48

Test statistic = z

= ( - ) / / n

= (46 - 48) / 4 / 80

= -4.47

P(z < -4.47) = 0

P-value = 2 * 0 = 0

= 0.005

P-value <

Reject the null hypothesis .

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
10
8.3
2
7
6.9
3
14
1.4
4
18
2.4
5
8
6.8
6
8
9.4
7
8
7.5
8
15
5.6
9
13
5.6
10
18
3.1
11
6
9.4
12
6
7.6...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car Age (years)
Selling Price ($000)
1
11
12.2
2
8
11.0
3
16
4.9
...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
12
10.7
2
8
8.8
3
13
3.0
4
15
2.7
5
10
6.0
6
9
12.1
7
10
9.0
8
13
7.8
9
12
7.8
10
15
4.7
11
6
10.8
12
6
8.9...

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
10
11.7
2
7
10.7
3
12
5.1
4
13
4.8
5
8
8.0
6
8
13.1
7
8
10.2
8
12
9.6
9
11
9.6
10
13
3.7
11
6
11.5
12
6
10.2...

Consider a study found that failure to purchase or correctly use
car seats on the part of the mother’s raised the risk of death to
their children by 0.0003, or three out of ten thousand from birth
to age four. It collected data on 190 people (all women) leaving a
shopping mall with their kids; only 33% either had a car seat or
were using it correctly. The study calculated that properly hooking
the kids in would take about 69...

Rob Whitner is the owner of Whitner Autoplex. Rob’s father
founded the dealership in 1964, and for more than 30 years, they
sold exclusively Pontiacs. In the early 1990s, Rob’s father’s
health began to fail, and Rob took over more of the day-to-day
operation of the dealership. At this same time, the automobile
business began to change-dealers began to sell vehicles from
several manufacturers-and Rob was faced with some major decisions.
The first came when another local dealer, who handles...

ASE STUDY
Miss Yinnary is one of the many women who own their own
businesses and her experience is not very different from others,
who must contend with being a mother, a spouse and a family
cheerleader in addition to owning and operating a business. She is
the owner of the famous Y-Hotel. It was her first business, though
she had some family background in this business. Her two sisters
were also in the same line of business. But she...

1. Summarize in a few sentences what Ayers found about pricing
strategies in car markets.
2. Do you think that this is a profit maximizing strategy? Do
you think this is an appropriate and reasonable strategy for
businesses to undertake it it increases their profits?
3. Can you think of other goods or services that could be - or
are - priced the same way? Check out the article on discrimination
in coffee shops "Waiting for Good Joe" for some...

Findings In a cohort of 2215 adults
with COVID-19 who were admitted to intensive care units at 65
sites, 784 (35.4%) died within 28 days, with wide variation among
hospitals. Factors associated with death included older age, male
sex, morbid obesity, coronary artery disease, cancer, acute organ
dysfunction, and admission to a hospital with fewer intensive care
unit beds.
Meaning This study identified
demographic, clinical, and hospital-level factors associated with
death in critically ill patients with COVID-19 that may be used to...

Review and submit the Donatos: Finding the New Pizza
case study below. Answer the following two questions:
2. Evaluate the Wassup meeting as an exploratory methodology to
help define the research question.
4. What measurement scales would you have used on the survey that
was part of the in-restaurant product tests?
Abstract and Written Case:
The pizza segment of the fast-food industry is very aggressive.
As people’s tastes change and new diets become the rage, restaurant
chains must decide if...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 3 minutes ago

asked 3 minutes ago

asked 3 minutes ago

asked 3 minutes ago

asked 4 minutes ago

asked 4 minutes ago

asked 4 minutes ago

asked 8 minutes ago

asked 9 minutes ago

asked 10 minutes ago

asked 12 minutes ago

asked 12 minutes ago