One-Sample Hypothesis Testing Cases

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Question description

Purpose of Assignment

The purpose of this assignment is to develop students' abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable.

Assignment Steps

Resources: Microsoft Excel®, Case Study Scenarios, SpeedX Payment Times (Please create a text box for each within Microsoft Excel to complete this objective)

Develop a summary on the statistical analysis based on the Case Study Scenarios and SpeedX Payment Times in the text boxes.

Include answers to the following:

Case 1: Election Results

  • Use 0.10 as the significance level (α).
  • Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state.

Case 2: SpeedX

  • Use 0.10 and the significance level (α).
  • Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable.

Click the Assignment Files tab to submit your Microsoft Excel data spreadsheet assignment

One-Sample Hypothesis Testing Cases Grading Guide QNT/561 Version 9 Applied Business Research and Statistics Copyright Copyright © 2017, 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. One-Sample Hypothesis Testing Cases Grading Guide QNT/561 Version 9 Edited in accordance with University of Phoenix® editorial standards and practices. 2 One-Sample Hypothesis Testing Cases Grading Guide QNT/561 Version 9 Individual Assignment: One-Sample Hypothesis Testing Cases Purpose of Assignment The purpose of this assignment is to develop students’ abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable. Resources Required • • • Microsoft Excel® Case Study Scenarios SpeedX Payment Times Grading Guide Content Met Partially Met Not Met Total Available Total Earned 3 #/3 Develop a summary on the statistical analysis based on the Case Study Scenarios and SpeedX Payment Times in the text boxes. Include answers to the following: Case 1: Election Results • • Use 0.10 as the significance level (α). Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state. Case 2: SpeedX • • Use 0.10 and the significance level (α). Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable. Comments: 3 One-Sample Hypothesis Testing Cases Grading Guide QNT/561 Version 9 Writing Guidelines Met Partially Met Not Met Total Available Total Earned 2 #/2 5 #/5 Includes sentence transitions that are present, logical, and maintain the flow throughout the summaries. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments: 4
Payment 27 24 14 39 13 31 26 33 13 23 17 24 18 34 13 23 16 32 30 29 21 19 22 14 27 20 11 20 30 24 18 21 24 18 27 27 27 21 22 23 18 17 23 26 20 20 22 21 13 36 18 25 26 19 16 28 16 20 16 14 25 14 35 17 16 19 19 17 18 22 23 22 27 23 23 21 20 18 29 32 27 15 21 26 32 20 29 25 15 21 30 24 23 14 18 22 37 24 35 29 24 17 27 15 19 12 19 21 19 21 15 17 20 21 31 19 27 19 26 26 26 23 12 20 34 21 24 20 21 16 23 13 19 18 31 29 23 28 19 19 22 24 21 23 14 25 17 22 21 18 22 15 27 14 23 25 24 24 17 16 30 24 17 27 24 17 10 25 15 13 29 21 22 11 25 30 23 18 19 18 14 21 22 17 19 23 31 26 25 15 16 28 27 22 12 25 12 21 19 26 16 21 30 16 25 13 11 13 22 28 14 21 30 19 14 31 9 14 21 28
Case Study – Election Results and SppedX QNT/561 Version 9 University of Phoenix Material Case Study – Election Results When an election for political office takes place, the television networks cancel regular programming and instead, provide election coverage. When the ballots are counted, the results are reported. However, for important offices such as president or senator in large states, the networks actively compete to see which will be the first to predict a winner. This is done through exit polls, wherein a random sample of voters who exit the polling booth is asked for whom they voted. From the data, the sample proportion of voters supporting the candidates is computed. Hypothesis testing is applied to determine whether there is enough evidence to infer the leading candidate will garner enough votes to win. Suppose in the exit poll from the state of Florida during the 2000 year elections, the pollsters recorded only the votes of the two candidates who had any chance of winning: Democrat Al Gore and Republican George W. Bush. In a sample of 765 voters, the number of votes cast for Al Gore was 358 and the number of votes cast for George W. Bush was 407. The network predicts the candidate as a winner if he wins more than 50% of the votes. The polls close at 8:00 P.M. Based on the sample results, conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state. Use 0.10 as the significance level (α). Case Study – SpeedX SpeedX, a large courier company, sends invoices to customers requesting payment within 30 days. The bill lists an address, and customers are expected to use their own envelopes to return their payments. Currently, the mean and standard deviation of the amount of time taken to pay bills are 24 days and 6 days, respectively. The chief financial officer (CFO) believes including a stamped self-addressed envelope would decrease the amount of time. She calculates the improved cash flow from a 2-day decrease in the payment period would pay for the costs of the envelopes and stamps. You have an MBA from the University of Phoenix, and work for SpeedX as a business analyst. One of your job duties is to run analytics and present the results to the senior management for critical decision-making. You see this as an opportunity to utilize some of the skills you gained in the Statistics course. Because of your strong understanding and background in inferential statistics, you decide to take up this important assignment. You have learned any analysis in inferential statistics starts with sampling. To test the CFO’s belief, you decide to randomly select 220 customers and propose to include a stamped self-addressed envelope with their invoices. The CFO accepts your proposal and allows you to run a pilot study. You then record the numbers of days until payment is received. Using your statistical expertise and skills you gained in the class, conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude that the plan will be profitable. Use 0.10 and the significance level (α). Copyright © 2017 by University of Phoenix. All rights reserved. 1

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