Question

Bayus (1991) studied the mean numbers of auto dealers visited by
early and late replacement buyers. Letting *μ* 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 *μ* 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 x⎯⎯x¯ = 4.42 and
*s* = .65. Using a critical value and assuming approximate
normality to test the hypotheses you set up by setting α equal to
.10, .05, .01, and .001. Do we estimate that *μ* is less
than 4 or greater than 4? **(Round your answers to 3 decimal
places.)**

**t=_____**

tα/2 = 0.05

tα/2 = 0.025

tα/2 = 0.005

tα/2 = 0.0005

Answer #1

One-Sample T

Descriptive Statistics

N | Mean | StDev | SE Mean | 90% CI for μ |

100 | 4.4200 | 0.6500 | 0.0650 | (4.3121, 4.5279) |

μ: mean of Sample

Test

Null hypothesis | H₀: μ = 4 |

Alternative hypothesis | H₁: μ ≠ 4 |

= 6.46

T-Value | P-Value |

6.46 | 0.000 |

critical values are

tα/2 = 0.05 = 1.96

tα/2 = 0.025 = 1.984

tα/2 = 0.005 = 2.626

tα/2 = 0.0005 = 3.390

for all the cases we reject null hypothesis and conclude that the mean is significantly differ by 4.

In an article in the Journal of Marketing, Bayus studied the
differences between "early replacement buyers” and "late
replacement buyers” in making consumer durable good replacement
purchases. Early replacement buyers are consumers who replace a
product during the early part of its lifetime, while late
replacement buyers make replacement purchases late in the product’s
lifetime. In particular, Bayus studied automobile replacement
purchases. Consumers who traded in cars with ages of zero to three
years and mileages of no more than...

In an article in the Journal of Marketing, Bayus
studied the differences between "early replacement buyers” and
"late replacement buyers” in making consumer durable good
replacement purchases. Early replacement buyers are consumers who
replace a product during the early part of its lifetime, while late
replacement buyers make replacement purchases late in the product’s
lifetime. In particular, Bayus studied automobile replacement
purchases. Consumers who traded in cars with ages of zero to three
years and mileages of no more than...

In an article in the Journal of Marketing, Bayus
studied the differences between "early replacement buyers” and
"late replacement buyers” in making consumer durable good
replacement purchases. Early replacement buyers are consumers who
replace a product during the early part of its lifetime, while late
replacement buyers make replacement purchases late in the product’s
lifetime. In particular, Bayus studied automobile replacement
purchases. Consumers who traded in cars with ages of zero to three
years and mileages of no more than...

In an article in the Journal of Marketing, Bayus
studied the differences between "early replacement buyers" and
"late replacement buyers" in making consumer durable good
replacement purchases. Early replacement buyers are consumers who
replace a product during the early part of its lifetime, while late
replacement buyers make replacement purchases late in the product's
lifetime. In particular, Bayus studied automobile replacement
purchases. Consumers who traded in cars with ages of zero to three
years and mileages of no more than...

Imagine that you are studying automobile buyers who choose to
replace their current car near the end of its expected lifetime.
Specifically, you are interested in how many different dealers late
purchasers visit.
Let µ be the mean number of dealers visited by all late
replacement buyers. A random sample of 100 late replacement buyers
yields a mean and standard deviation of the number of dealers
visited of x¯ = 4.32 and s = 0.67.
The test statistic and the...

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