Business and Finance Homework

Need finance homework help? Ask an Expert

Connect one-on-one with {0} who will answer your question

Related Business and Finance Homework Questions
I need the answer to the questions: 1. A consultant for Dell
1. A consultant for Dell was investigating computer usage among students at a particular university. 200 undergraduates and 100 postgraduates were chosen and asked if they owned a laptop. It was found that 81 of the undergraduates and 63 of the postgraduates owned a laptop. The consultant calculated that 48% (144 out of 300) of the students interviewed owned a laptop. Explain, with reasons, whether the figure of 48% would be a good estimate of the proportion of all students who own a laptop. Hint: The answer is ‘Well James, it depends!', but obviously reasons are required! (10 marks) 2. A 95% confidence interval for the mean income of shop assistants in a certain city, based on a random sample of n shop assistants, is found to be (£18,000, £21,000). Explain what this means briefly (in at most 2–3 sentences). Would a 90% confidence interval be better than a 95% confidence interval? Justify your answer. Hint: The answer is ‘Well James, it depends!', but obviously reasons are required! (10 marks) 3. For a certain variable, the standard deviation in a large population is equal to 16. How large a random sample is needed to be 99% confident that the sample mean is within 2 units of the population mean? Would you recommend a confidence level other than 99%? Hint 1: Use the confidence interval Excel utility. Hint 2: The answer is ‘Well James, it depends!', but obviously reasons are required! (10 marks) 4. An accounting firm wishes to test the claim that no more than 6% of a large number of transactions contain errors. In order to test this claim, they examine a random sample of 225 transactions and find that exactly 20 of these are in error. What conclusion should the firm draw? Use a 5% significance level. Hint: Use the hypothesis testing Excel utility (one population). 5. Explain (in no more than a paragraph for each) the purpose of: (a) sampling (b) hypothesis testing. Discuss any advantages and limitations of each. 2 (10 marks) (10 marks) 6. A lumber company makes plywood for the furniture industry. One product it makes is 3/4-inch panels. It is very important that the panels conform to specifications. One specification calls for the panels to be made to an average thickness of 0.75 inches. Each hour, 5 panels are selected at random and measured. After 20 hours, a total of 100 panels have been measured (so the sample size is n = 100). The data are in the file ‘Lumber.xls'. (a) Based on the sample data, what should the company conclude about the status of its product meeting the thickness specification? Test at a 1% significance level. Discuss your results in a brief ‘executive summary' to the production manager. Hint: Use the hypothesis testing Excel utility (one population). (b) The production manager has looked at the results of your test. He wishes to repeat this sampling process and wants a rule to compare future X ̄ values only. So, based just on a sample mean of any new random sample of panels, without having to conduct a formal hypothesis test, he wishes to decide whether the thickness specification is being met, again using a 1% significance level. Develop a suitable rule. Hint: Use the hypothesis testing Excel utility (one population). (c) The manager wishes to know what type of error in (a) could have been made and what the potential consequences of the error might be. (25 marks) 7. A bookstore samples its order record to examine the number of days between placing an order and receiving the goods. The results (in days) are shown below. Assess and comment on the differences between surface transportation and air freight. You may use Excel! The data are in the file ‘Bookstore.xls'. Hint: This question is deliberately open-ended. You may investigate the data any way you like, for example calculating some descriptive statistics. Surface transportation 18 20 24 23 28 32 24 39 18 29 25 27 19 24 21 19 24 27 33 37 15 20 26 21 17 26 25 23 25 35 Air freight 12 12 13 21 18 14 9 16 18 14 13 11 15 11 17 14 12 13 11 17 19 16 14 14 12 … read more
F. Naz
Bachelor's Degree
CA Finalist & Completed B.com
608 satisfied customers
you have answered them already but how do I get the answers?
I. Research Scenario: An organization wants to know if participants with varying levels of expertise (professionals, paraprofessionals, and nonprofessionals) improve their knowledge after completing a… read more
R.R. Jha
Bachelor's Degree
6,909 satisfied customers
Resolved Question: 1 A 95% conﬁdence interval for the mean
Resolved Question: 1 A 95% conﬁdence interval for the mean income of shop assistants in a certain city is found to be (£12,000, £15,000). Say in one sentence what this means. Would a 99% conﬁdence int… read more
R.R. Jha
Bachelor's Degree
6,909 satisfied customers
9.3 If you use a 0.10 level of significance in a two-tail hypothesis
9.3 If you use a 0.10 level of significance in a two-tail hypothesis test, what is your decision rule for rejecting a null hypothesis that the population mean is 500 if you use the Z test? For problem… read more
R.R. Jha
Bachelor's Degree
6,909 satisfied customers
2. To answer the question, refer to the following list of raw
2. To answer the question, refer to the following list of raw data. 63, 71, 72, 77, 77, 78, 86, 77, 88, 88 What is the mode for the data? A. 77.7, B. 88, C. 77, D. 77.5 3. A population is a collection… read more
Mark Twain
142 satisfied customers
for rrjha I have another few questions over this week. Class
for rrjha I have another few questions over this week. Class – spend some time reviewing the chapter 6 reading assignment listed above as well as the documents I have left in the Course Materials Foru… read more
R.R. Jha
Bachelor's Degree
6,909 satisfied customers
(For getsetgo) Please.QuestionUsing an MS Excel spreadsheet,
Question Using an MS Excel spreadsheet, compute the following information about a data set. The data set is shown in Table 1 below. There are three groups in the complete data set: Group 1—Learning vi… read more
getsetgo
Master's Degree
2,385 satisfied customers
4. A certain population of observations is bimodal (see Figure
4. A certain population of observations is bimodal (see Figure 3.10b). (a) Suppose you want to obtain a fairly accurate picture of the sampling distribution of means for random samples of size 3 drawn… read more
Trigeoscal
Other
Master's Degree
530 satisfied customers
1 A 95% conﬁdence interval for the mean income of shop assistants
1 A 95% conﬁdence interval for the mean income of shop assistants in a certain city is found to be (£12,000, £15,000). Say in one sentence what this means. Would a 99% conﬁdence interval be better tha… read more
R.R. Jha
Bachelor's Degree
6,909 satisfied customers
Question 1 of 20 5.0 Points The __________ test is useful
Question 1 of 20 5.0 Points The __________ test is useful for before/after experiments. A. goodness-of-fit B. sign C. median D. chi-square Reset Selection Mark for Review What's This? Question 2 of 20… read more
R.R. Jha
Bachelor's Degree
6,909 satisfied customers
RRJha, I need the Module 7 work we discussed. Following
RRJha, I need the Module 7 work we discussed. Following is the format that the professor has said we must use to report the data (7 steps for each question). Thank you. Reporting Results Step 1: State… read more
R.R. Jha
Bachelor's Degree
6,909 satisfied customers
Hello my question is for Business Statistics and it is Give
Hello my question is for Business Statistics and it is Give an example of a hypothesis test you could perform at work or at home. State what the Null and the Alternative hypotheses would be in your te… read more
unvrs
Lecturer of Mathematics
Master's Degree
36 satisfied customers
Chapter 12 48. Time Magazine reported that in a 1994 survey
Chapter 12 48. Time Magazine reported that in a 1994 survey of 507 randomly selected adult American Catholics, 59% answered yes to the question, “Do you favor allowing women to be priests?” A. Set up … read more
unvrs
Lecturer of Mathematics
Master's Degree
36 satisfied customers
It is recommended that people try to keep their cholesterol
It is recommended that people try to keep their cholesterol level below 200. The following Minitab output is for the control patients: test of mu = 200.00 vs mu < 200.00 Variable N Mean StDev SE Me… read more
R.R. Jha
Bachelor's Degree
6,909 satisfied customers
Chapter 13 True/False 3. Audit sampling applies to control
Chapter 13 True/False 3. Audit sampling applies to control risk and detection risk. 10. In PPS sampling, the auditor chooses a logical sampling unit compatible with the nature of the auditing procedur… read more
Expert
357 satisfied customers
Statistical Symbols and Definitions Matching Assignment
Statistical Symbols and Definitions Matching Assignment Match the letter of the definition on the right to the appropriate symbol on the left. Symbols 1. S (Uppercase Sigma) ____ 2. m (Mu) ____ 3. s (… read more
SusanAthena
Master's Degree
Master's Degree
13 satisfied customers
You have decided to do a research project. Describe
FOR CC I. You have decided to do a research project. Describe the project that you have decided on and then answer the following general knowledge questions as well as questions about your project. De… read more
ConceptsCoach
Master's Degree
266 satisfied customers
13-36 (Mt. Hood Furniture PPS sampling problem) You have been
13-36 (Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have separate… read more
Neo
12,656 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

I couldn't be more satisfied! This is the site I will always come to when I need a second opinion.

JustinKernersville, NC

Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around.

EstherWoodstock, NY

Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know.

RobinElkton, Maryland

He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here.

DianeDallas, TX

< Previous | Next >

Meet the Experts:

linda_us

Master's Degree

852 satisfied customers

A tutor for Business, Finance, Accounts and other related topics.

F. Naz

Bachelor's Degree

608 satisfied customers

Have completed B.COM and CA Finalist

357 satisfied customers

dasdasd

Bizhelp

Accountant

260 satisfied customers

BA degree and Certified Public Accountant

Mr. Gregory White

Master's Degree

215 satisfied customers

M.A., M.S. Education / Educational Administration

Brittany

Professional

30 satisfied customers

AA/Accounting BS/Business

SusanAthena

Master's Degree

13 satisfied customers

12 years experience consulting & management

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x