Exam 19: Questions that Involve Online Topics

The Analysis of Means (ANOM) is more appropriate if you want to identify the group(s) that has(have) a higher or lower mean than the overall mean while the One-Way Analysis of Variance (One-way ANOVA) is more appropriate when you just want to see if the means of all the different groups are the same.

TABLE 12-2 An agronomist wants to compare the crop yield of 3 varieties of chickpea seeds. She plants all 3 varieties of the seeds on each of 5 different patches of fields. She then measures the crop yield in bushels per acre. Treating this as a randomized block design, the results are presented in the table that follows. -Referring to Table 12-2, the decision made at a 0.01 level of significance on the Friedman rank test for the difference in medians implies that the 3 medians are not all the same.

Blossom's Flowers purchases roses for sale for Valentine's Day. The roses are purchased for $10 a dozen and are sold for $20 a dozen. Any roses not sold on Valentine's Day can be sold for $5 per dozen. The owner will purchase 1 of 3 amounts of roses for Valentine's Day: 100, 200, or 400 dozen roses. If the probability of selling 100 dozen roses is 0.2 and 200 dozen roses is 0.5, then the probability of selling 400 dozen roses is

You use the finite population correction factor when

TABLE 19-2 The following payoff matrix is given in dollars. -Referring to Table 19-2, what is the best action using the maximin criterion?

TABLE 12-2 An agronomist wants to compare the crop yield of 3 varieties of chickpea seeds. She plants all 3 varieties of the seeds on each of 5 different patches of fields. She then measures the crop yield in bushels per acre. Treating this as a randomized block design, the results are presented in the table that follows. -Referring to Table 12-2, what are the degrees of freedom of the Friedman rank test for the difference in the medians at a level of significance of 0.01?

Based on past experience, only 0.5% of the invoices of a company contain an error. Out of the 1,500 invoices that the company will issue, what is the approximate probability that less than 4 invoices will contain an error?

TABLE 19-5 The following payoff table shows profits associated with a set of 2 alternatives under 3 possible events. -Referring to Table 19-5, what is the coefficient of variation for Action A?

TABLE 19-1 The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. -Referring to Table 19-1, if the probability of S1 is 0.5, what is the optimal alternative using EMV?

Blossom's Flowers purchases roses for sale for Valentine's Day. The roses are purchased for $10 a dozen and are sold for $20 a dozen. Any roses not sold on Valentine's Day can be sold for $5 per dozen. The owner will purchase 1 of 3 amounts of roses for Valentine's Day: 100, 200, or 400 dozen roses. The opportunity loss for buying 400 dozen roses and selling 200 dozen roses at the full price is

TABLE 19-1 The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. -Referring to Table 19-1, if the probability of S1 is 0.5, then the expected opportunity loss (EOL) for A1 is

TABLE 19-1 The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. -Referring to Table 19-1, what is the best action using the maximin criterion?

TABLE 12-1 A perfume manufacturer is trying to choose between 2 magazine advertising layouts. An expensive layout would include a small package of the perfume. A cheaper layout would include a "scratch-and-sniff" sample of the product. The manufacturer would use the more expensive layout only if there is evidence that it would lead to a higher approval rate. The manufacturer presents both layouts to 5 groups and determines the approval rating from each group on both layouts. The data are given below. Use this to test whether the median difference in approval rating is different from zero in favor of the more expensive layout with a level of significance of 0.05. -Referring to Table 12-1, the null hypothesis should be rejected.

TABLE 9-3 A drug company is considering marketing a new local anesthetic. The effective time of the anesthetic the drug company is currently producing has a normal distribution with a mean of 7.4 minutes with a standard deviation of 1.2 minutes. The chemistry of the new anesthetic is such that the effective time should be normally distributed with the same standard deviation. The company will market the new local anesthetic as being better if there is evidence that the population mean effective time is greater than the 7.4 minutes of the current local anesthetic. -Referring to Table 9-3, if you select a sample of 25 new local anesthetics and are willing to have a level of significance of 0.05, the probability of the company not marketing the new local anesthetic when it is not better is ________.

Based on past experience, only 0.5% of the invoices of a company contain an error. Out of the 1,500 invoices that the company will issue, what is the approximate probability that exactly 2 invoices will contain an error?

TABLE 19-5 The following payoff table shows profits associated with a set of 2 alternatives under 3 possible events. -Referring to Table 19-5, what is the optimal action using EMV?

If the number of blocks in the experiment is larger than 5, the Friedman rank test statistic can be approximated by a standardized normal distribution.

TABLE 7-1 Times spent studying by students in the week before final exams follow a normal distribution with standard deviation 8 hours. A random sample of 4 students was taken from a population of 50 in order to estimate the mean study time for the population of all students. Use the finite population correction. -Referring to Table 7-1, 80% of all the samples of 4 will have a sample mean of no more than how many hours from the population mean?

TABLE 19-1 The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. -Referring to Table 19-1, if the probability of S1 is 0.4, then the probability of S2 is

TABLE 7-2 According to a survey, only 15% of customers who visited the website of a major retail store made a purchase. Random samples of size 50 are selected from a population of 900. Use the finite population correction factor. -Referring to Table 7-2, what proportion of the samples will have between 20% and 30% of customers who will make a purchase after visiting the website?