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(Solved): Question 15 (1 point)   Do sit down restaurant franchises and fast food franchises differ ...


Question 15 (1 point)

 

Do sit down restaurant franchises and fast food franchises differ significantly in stock price? Specifically, is the average stock price for sit-down restaurants greater than the average stock price for fast food restaurants? A hypothesis test for two independent samples is run on data recorded from the stock exchange and a p-value is calculated to be 0.0231. What is the appropriate conclusion?

Question 15 options:

 

1) 

 The average stock price of sit-down restaurants is significantly different from the average stock price of fast food restaurants.

 

2) 

 The average stock price of sit-down restaurants is significantly greater than the average stock price of fast food restaurants.

 

3) 

 We did not find enough evidence to say the average stock price of sit-down restaurants is greater than the average stock price of fast food restaurants.

 

4) 

 The average stock price of sit-down restaurants is significantly less than the average stock price of fast food restaurants.

 

5) 

 The average stock price of sit-down restaurants is less than or equal to the average stock price of fast food restaurants.

Question 16 (1 point)

 

A new gasoline additive is supposed to make gas burn more cleanly and increase gas mileage in the process. Consumer Protection Anonymous conducted a mileage test to confirm this. They took a sample of their cars, filled it with regular gas, and drove it on I-94 until it was empty. They repeated the process using the same cars, but using the gas additive. Using the data they found, they performed a paired t-test with data calculated as (with additive - without additive) with the following hypotheses: Null Hypothesis: ?D = 0, Alternative Hypothesis: ?D ? 0. If they calculate a p-value of 0.0456 in the paired samples t-test, what is the appropriate conclusion?

Question 16 options:

 

1) 

 The average difference in gas mileage is equal to 0.

 

2) 

 The average difference in gas mileage is significantly different from 0. There is a significant difference in gas mileage with and without the additive.

 

3) 

 We did not find enough evidence to say the average difference in gas mileage was not 0. The additive does not appear to have been effective.

 

4) 

 The average difference in gas mileage is significantly less than 0. The average gas mileage was higher without the additive.

 

5) 

 The average difference in gas mileage is significantly larger than 0. The average gas mileage was higher with the additive.

Question 17 (1 point)

 

Consumers Energy states that the average electric bill across the state is $49.57. You want to test the claim that the average bill amount is actually different from $49.57. The hypotheses for this situation are as follows: Null Hypothesis: ? = 49.57, Alternative Hypothesis: ? ? 49.57. If the true statewide average bill is $86.54 and the null hypothesis is not rejected, did a type I, type II, or no error occur?

Question 17 options:

 

1) 

 Type II Error has occurred.

 

2) 

 We do not know the degrees of freedom, so we cannot determine if an error has occurred.

 

3) 

 We do not know the p-value, so we cannot determine if an error has occurred.

 

4) 

 No error has occurred.

 

5) 

 Type I Error has occurred


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15) since p value < 0.05, we reject the null hypothesis The average stock price of si
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