Download Practice Problems 4 - Business Statistics | BMGT 230 and more Assignments Business Statistics in PDF only on Docsity! Erich StudGr -Ellis BMGT 230 - Practice Problems, Part 4 5pr,rJ Zoo? 1. The Floor Street Journal reported recently that 53oh of automobile loans in 1990 were processed by commercial banks and that 43o/o of automobile loans in 2000 were processed by commercial banks. The results were based on random samples of 100 automobile loans in 1990 and 100 automobile loans in 2000. Test whether the proportion of automobile loans processed by commercial banks changed significantly from 1990 to 2000 at the (cr:; 0.01 level of significance. lnclude the hypotheses tested, the ca-iculated value of the test statistic, the critical value of the test statistic, and the decision. 2.The shares of the U.S. automobile market held in 1990 by General Motors, Japanese manufacturers, Ford, Chrysler, and other manufacturers were 36o/o, 260A,2lo/o,9o/o, and 80/o, respectively. Suppose that a new survey of 1000 new-car buyers shows the following purchase frequencies: GM 391 Japanese 202 Ford 275 Chrysler 53 Other 79 Determine whether the market shares of the manufacturers have changed significantly since 1990 (use ct : 0.05). Include the hypotheses tested, the calculated value of the test statistic, the critical value of the test statistic, and the decision. 3. M&MA4ARS, makers of M&M candies, conducted a national poll in which more than l0 million persons indicated their preferences for a new color. The results of the poll led to the replacement of tan- colored M&Ms with blue-colored M&Ms. ln the brochure "Colors," made available by M&M/IvIARS Consumer Affairs, the distribution of colors for the plain candies is as follows: . Brown :30o/o Yellow :20o/o Red:2oolo Orange : loo/o Green :10o/o Blue: l0olo In a study reported in CHANCE, samples of one-pound bags of M&Ms were used to determine whether the percentages reported were valid. The following results were obtained for one sample of 370 plain candies: Brown:84 Yellow:79 Red:75 Orange:49 Green:36 B|nre:47 Use cr: 0.05 to determine whether the frequencies observed support the percentages reported by the company (i.e., the frequencies expected). Include the hlpotheses tested, the calculated value of the test statistic, the critical value of the test statistic, and the decision. 212 r,iti$i .' r:ehP ft fos.g ff r t'?P, 3{.rirt
