# Week 7 Quiz – A Survey Of American Society Of Investors Found

Question 16. 25 / 25 pointsA survey of American Society of Investors found 30% of individual investors have useda discount broker. In a random sample of nine individuals, what is the probability that: a. Exactly two of the sample individuals have used a discount broker? P(x = 2)Enter answer rounded to 3 or 4 decimal places with 0 to the left of the decimalpoint. b. None of the 9 individuals have used a discount broker. P(X = 0)Enter answer rounded to 3 or 4 decimal places with a 0 to the left of the decimalpoint. c. Two or three individuals have used a discount broker. P( 2 <,= X <,= 3)Enter answer rounded to 3 or 4 decimal places with a 0 to the left of the decimalpoint. d. What is the mean and standard deviation for this distribution?Enter each answer rounded to 2 decimal places in the order in which thequestion was asked. Question 20 / 25 pointsA. C. Nielesen Company provides information to organizations advertising on television. Prior research indicates that adult Americans watch an average of 6. 0 hours oftelevision per day with a standard deviation of 1. 5 hours. Assuming the time distribution is normally distributed: What is the probability that a randomly selected adult Americans watches 5 or morehours of television per day?Enter answer rounded to 3 or 4 decimal places with a 0 to the left of the decimal point. Do not enter answer as a percent. What is the probability that a randomly selected adult Americans watches between 7and 8 hours (inclusive) of television per day?Enter answer rounded to 3 or 4 decimal places with a 0 to the left of the decimal point. Do not enter answer as a percent. For how many hours per day must an adult American watch television in order to be inthe top 5% of all the adult American television watchers?Enter answer rounded to 1 decimal place. In a sample of 25 randomly selected adult Americans what is the probability that theaverage time for watching television per day will be equal to or exceeds 6. 5 hours?Enter answer rounded to 3 decimal places with a 0 to the left of the decimal point. Donot enter answer as a percent. Question 318. 75 / 25 pointsThe owner of the Britten’s Egg Farm wants to estimate the mean number of eggsproduced per chicken. A representative random sample of 20 chickens show theyproduce an average of 25 eggs per month with a sample standard deviation (s) of 2eggs per month. The distribution is known to be symmetrical and is close enough tonormal to be treated as a normal distribution. Answer the following questions related to the above paragraph and then calculate a90% confidence interval for the mean number of eggs produced per chicken on theBritten’s Egg Farm. What is the point estimate of the mean number of eggs produced per chicken?Enter answer with 0 decimal places (integer). What is the appropriate distribution for calculating a 90% confidence interval?aUniform distributionbNormal distributionct distributiondChi Square distributionAnswer this question by entering the appropriate letter. What is the degrees of freedom (dF) for the appropriate distribution. Enter Na if dF isnot required by the appropriate distribution. Calculate the margin of error for the 90% confidence interval for the mean amount ofeggs laid per month on the Britten’s Egg Farm. Enter answer rounded to 1 decimal point. Include a zero to the left of the decimal pointif the margin of error is a number between -1 and +1. The 90% conference interval for the mean number eggs produced per month is: Enter the lower and upper limits for the conference interval by entering the lower limitfirst. Rounded each conference limit to 1 decimal point. Prior to this study the owner of the Britten’s Egg Farm Egg Farm believed the meanamount off eggs produced per month on his farm was 30. Does the study support his belief with a 90% confidence?a Yes. The mean amount of eggs produced per month on his farm could be 30 permonth because the number 30 is not contained in the confidence interval. b Yes. The mean amount of eggs produced per month on his farm could be 30 permonth because the number 30 is contained in the confidence interval. c No. The mean amount of eggs produced per month on his farm is most likely not30 per month because the number 30 is not contained in the confidence interval. d No. The mean amount of eggs produced per month on his farm is most likely not30 per month because the number 30 is contained in the confidence interval. e The owner can not comment on the mean amount of eggs produced per month onhis farm because the confidence interval is based upon a sample. Enter the correct answer by selecting and entering the appropriate letter. View FeedbackQuestion 45 / 25 pointsThe waiting time for customers at MacBerger Restaurants follows a normal distributionwith a population standard deviation of 1 minute. At the Warren Road MacBerger, the quality assurance department sampled 49customers and found that the mean waiting time was 2. 75 minutes. At the . 05significance level, can we conclude that the mean waiting time is less than 3 minutes. The Null Hypothesis is: aThe waiting time for customers at MacBerger Restaurants is equal to_______. bThe waiting time for customers at MacBerger Restaurants is greater than _______. cThe waiting time for customers at MacBerger Restaurants is less thandThe waiting time for customers at MacBerger Restaurants is not equal to _______. _______. Enter the correct answer by selecting the appropriate letter and then entering thecorrect number. Enter number to the same precision as presented in the question. The Alternate Hypothesis is: aThe waiting time for customers at MacBerger Restaurants is equal to______. bThe waiting time for customers at MacBerger Restaurants is greater than______. cThe waiting time for customers at MacBerger Restaurants is less than______. dThe waiting time for customers at MacBerger Restaurants is not equal to______. Enter the correct answer by selecting the appropriate letter and then entering thecorrect number. Enter number to the same precision as presented in the question. The appropriate distribution is: abcdUniform DistributionNormal Distributiont DistributionChi Square DistributionThe Hypothesis test is a: abcLeft tail testRight tail testTwo tail testEnter the appropriate letters for answering the questions in the same order in which thequestions are asked. Select and enter the letter for the appropriate decision rule. Enter the critical value as a decimal rounded to 2 or 3 places. Decision: aisHa hypothesis: If the test statistic is equal to or greater than the critical value which_____. bisHa hypothesis: If the test statistic is equal to or less than the critical value which_____. c Ha hypothesis: If the absolute value of the test statistic is equal to or greater thanthe critical value which is _____. The numerical value of the test statistic is: Enter answer rounded to 2 decimal places. Hypothesis Test Decision: a Null Hypothesis: Do not reject the null hypothesis. The data does not support theAlternate Hypothesis. b Alternate Hypothesis: Reject the null hypothesis. The data supports the AlternateHypothesis. c The waiting time for customers at MacBerger Restaurants cannot be determinedbecause the data set is a sample. Enter the correct answer by selecting the appropriate letter. An alternate method for performing the Hypothesis Test would be tocalculate a Pvalue based upon the numerical value of the Test Statistic. If the Pvalue is larger than the significance level of the test the appropriatedecision, based upon the numerical value of the test statistic, would be theNull Hypothesis. If the Pvalue is less than or equal to the significance level ofthe test the appropriate decision, based upon the numerical value of the teststatistic, would be the Alternate Hypothesis. Based upon the data what is the Pvalue for the Hypothesis Test?Enter answer as a decimal rounded to 2 places with a zero to the left of thedecimal point. Do not enter answer as a percent.