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Consider the veracity or falsehood of each of the following statements. For bonus,
argue for those that you believe are true while providing a counterexample for
those that you believe are false.
There is a field with 16 elements.
],
94
is a prime.
28 9
The polynomial x' +ar? +bx+c EZ[x] where a is odd, b is even and c
is odd, is always irreducible over Z.
Z[V-5] is a UFD.
8 3
is a unit.
218
5
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Purdue University Coronavirus Pandemic Poll Discussion
Topic: Interpreting Survey ResultsWhen the results of a survey or poll are published, the sample size and the margin of er ...
Purdue University Coronavirus Pandemic Poll Discussion
Topic: Interpreting Survey ResultsWhen the results of a survey or poll are published, the sample size and the margin of error should both be given. For example: 1000 voters were surveyed and 39±2% of the voters agree with the president. In this example N=1000 and the margin of error (MoE) is 2%.This website lists several public opinion polls. Search the site and find a poll where the sample size and margin of error are given. Try to find a poll dealing with a topic in your profession or one in which you are really interested.http://www.pollingreport.comMain Post: Determine the following information for the selected poll results and include in your initial post. See Example and DB starter video in Unit 6 LiveBinder.URL for the website. State the poll question, the sample size n, and the margin of error (also known as sampling error).Interpret the results of your poll using your own words and full sentences. Note: Depending on the question asked, your poll may have more than one poll result – you only need to discuss one result.State the confidence interval using the MoE. What does this confidence interval estimate?Use the Confidence Interval template (found in Unit 6 LiveBinder) to calculate the confidence interval based on the sample size and the number of successes (the proportion you are interested in). Use a confidence level of 95%.What is the calculated confidence interval? How does this compare to the interval in part 3 using the poll’s margin of error?Discuss potential biases that could skew sampling results.
PSY5110 Northcentral Research Methods and Statistics in Psychology Paper
This week, you have read about hypothesis testing and will now apply
this knowledge by writing a paper that addresses th ...
PSY5110 Northcentral Research Methods and Statistics in Psychology Paper
This week, you have read about hypothesis testing and will now apply
this knowledge by writing a paper that addresses the following:Provide an example of a hypothesis where a one-tailed hypothesis test would be used.Provide an example of a hypothesis where a two-tailed hypothesis test would be used.If a researcher has set alpha at 0.05 for a two-tailed hypothesis test, what is the p-value required to reject the null hypothesis?A researcher has set alpha at 0.05. When the researcher analyzes the
data from the experiment using a software program, she obtains a p-value equal to 0.932. Based on this p-value, should the researcher reject the null hypothesis or fail to reject the null hypothesis? Please explain your answer.A researcher has set alpha at 0.01. When the researcher analyzes the
data from the experiment using a software program, he obtains a p-value equal to 0.04. Based on this p-value, should the researcher reject the null hypothesis or fail to reject the null hypothesis? Please explain your answer.A researcher is interested in whether music played during an exam
will improve exam performance. Students in one class listen to music
during an exam and students in another class take the exam in silence.
The researcher set alpha at 0.05. Test scores for both classes are
compared using a statistical software program. The mean test score for
the class that listened to music during the exam is 95, while the mean
test score for the class that took the exam in silence is 82. The
obtained p-value from the independent groups t-test is 0.02. Be sure to answer the following questions:
State the null and alternative hypothesis.Determine if this is a directional or non-directional test. Please explain your answer.Establish the conclusion of this study based on the p-value and the means provided.Describe the Type I error for this study.Describe the Type II error for this study.
Length:1-2 pagesYour paper should demonstrate thoughtful consideration of the ideas
and concepts presented in the course by providing new thoughts and
insights relating directly to this topic. Your response should reflect
scholarly writing and current APA standards.Recommended Readings:Gavin, H. (2008). Understanding research methods and statistics in psychology. London: SAGE Publications Ltd. doi:Sirkin, R. N. (2006). Statistics for the Social Sciences. (3rd ed.). Thousand Oaks, CA: SAGE Publications, Inc. doi:
Link
Banerjee,
A., Chitnis, U. B., Jadhav, S. L., Bhawalkar, J. S., & Chaudhury,
S. (2009). Hypothesis testing, type I and type II errors.
Link P values (n.d.). Statistical Help.
Link
Inferential statistics [Video file]. (2005). In Films on Demand.
Texas A&M University Kingsville Correlation and Regression Discussion
Let's discuss the difference between positive association and negative association when describing the relationship bet ...
Texas A&M University Kingsville Correlation and Regression Discussion
Let's discuss the difference between positive association and negative association when describing the relationship between two variables. What do we mean by the least-square criterion? Give a general description of how the least-square criterion is involve in the construction of the least-square line. Why do we say the least-squares line is the “best-fitting” line for the data set?
Use the Internet and find a magazine or journal article in your field of major interest wherein the content of this chapter (Correlation and Regression – chapter 6) could be applied. List the variables used, method of data collection, and the general type of information and conclusion drawn.
3 pages
20190901151203mat101 Wk8 Assignment 5.29.19
Professional movers estimate that the average American will move at least nine times during his or her lifetime. In additi ...
20190901151203mat101 Wk8 Assignment 5.29.19
Professional movers estimate that the average American will move at least nine times during his or her lifetime. In addition to moving from one ...
Central Ohio Technical College Data Driven Decision Making Paper
please use excel to answer these questions, PLEASE READ ALL DIRECTIONS as there are a few different requirements and SHOW ...
Central Ohio Technical College Data Driven Decision Making Paper
please use excel to answer these questions, PLEASE READ ALL DIRECTIONS as there are a few different requirements and SHOW ALL WORK FOR EACH QUESTION WITH EXCELPlease make sure you put your name in the space provided at the top right corner of this page.Please insure that your copy of the exam has 8 numbered pages and 12 questions (and two EXTRA-CREDIT questions).You may use your textbook, computer, and notes. You should do all the work on your own and not get any help from others (this includes tutors). Integrate, i.e., cut & paste, computer printouts (as part of the response to the questions) for any questions you use the computer analysis results.For the normal distribution problems #8 and #9, draw appropriate pictures and mark relevant points on the picture by using the Minitab “graph à probability distribution plot” function (you could also do this by drawing the picture on paper, scanning it, and incorporating into your answer).Please turn-in this exam as an electronic (soft) copy. You should type in your answers on this document and turn it in for grading. Please name the Word file as you have done for all submissions in this class. GRADE SUMMARYProblems: Partial44Problems: Complete24Short essays32Extra-Credit10 Total110GOOD LUCKFor your use with Word, I am providing some symbols we have used in class. You may cut-and-paste these symbols as and when you need them on this.= < > ≥ ≤ ≠ µ σ σσ2 S S2H0: H1: a PROBLEMS --PARTIALFor the following three business situations please identify whether the probability distribution to be used to model the situation is Binomial, Poisson, or some other distribution (you do not need to identify this if it is not Binomial or Poisson distribution, just state that it is an unknown distribution) and for each situation justify your choice of the probability distribution by listing the requirements of the distribution and how they are met. (You are not required to solve these problems) (2 + 2 points)Any profit-maximizing firm would like a larger share of the market. The advertising campaign in different communications media is the most effective method to reach the consumers. Chuck Atwood, Optico Corporation’s sales manager, recently concluded a six-month advertising campaign which featured a series of ads in major business periodicals. The firm’s advertising agency assured Optico management that 60% of the purchasing agents in the target industries would be aware of the campaign. At a recent sales convention, only 4 of the 10 purchasing agents whom Chuck Atwood questioned could remember seeing any of the ads. Should Optico undertake a more detailed (and expensive) study of the advertising agency’s claim? Why?Pat Lowe, general manager of Chicago Foundries, is facing a difficult situation. Her plant is currently operating at 60 percent of optimal capacity and is losing money. She has submitted bids on two government contracts, either of which would bring the plant up to capacity. However, if she were to receive both, she would have to subcontract one of them and would be no better off than she currently is. Lowe recently received an invitation to bid on another government contract of the same nature and magnitude as the two she currently has bids on. She is unsure whether she should bid. She would prefer to operate at 60 percent capacity than to receive all three bids. Past experience has convinced her that she has received contracts of this nature 20 percent of the time. Advise Ms. Lowe.Telephone sales operators make on the average 1 call every 10 minutes. Recently, operators have become upset with their working conditions and you wonder if they are slowing down to retaliate. You observe one operator who has made no calls in the past 50 minutes. Assume that the average of 1 call every 10 minutes has not changed. What is the probability that no calls would have been made in the past 50 minutes?For the next four problems, just do the following: (You are not required to solve these problems)A.Set up Null (H0) and alternate (H1) hypotheses (i.e., Step 1) in business terms (i.e., in plain English). (2 points)B.Set up Null (H0) and alternate (H1) hypotheses (i.e., Step 1) in statistical terms. (2 points)C.In the context of the problem, please specify what kind of conclusion will lead to type I error and discuss the implications of making this type of error (i.e., who will it impact and how). (2 + 2 points)The Better Business Bureau has received several complaints that a flour company is underfilling their five pound bags of flour. The Bureau randomly selects 750 bags of flour and determines the weight of each bag. The sample average weight of the bags is 4.80 pounds with a standard deviation of .15 pounds. Is there evidence at the .01 level of significance that the bags are underfilled? A. H0 : H1 :B. H0 : H1 :C.5.The director of the IRS has been flooded with complaints that people must wait for at least 45 minutes before seeing an IRS representative. To determine the validity of these complaints, the IRS randomly selects 400 people entering IRS offices across the country and records the times which they must wait before seeing an IRS representative. The average waiting time for the sample is 55 minutes with a standard deviation of 15 minutes. Are the complaints substantiated by the data? Use a significance level, α, of .10.A. H0 : H1 :B. H0 : H1 :C. A 1990 Survey showed that the average check at Perkins family restaurant is $4.70. The Perkins company wants to know if this figure is too high for 1997. The Perkins company takes a random sample of 54 checks from the restaurants across the country and determines that the sample average check is $4.62. The sample standard deviation of the checks is $0.86. Using a = .05, test to determine whether the Perkins, restaurant check average is significantly lower than $4.70.A. H0 : H1 :B. H0 : H1 :C. To protect U. S. steel producers against competition from low-priced foreign imports, theGovernment has adopted a trigger price mechanism. If steel imports enter this country at less than the minimum or trigger price (based on the cost of production in Japan, which has the world's most efficient steel factories), an investigation into the illegal dumping of cheap steel in the United States by foreign countries is launched. Last year, the average trigger price was set at $358.31 per ton. This year, a random sample of n = 40 was selected, and the trigger price on each of the days was recorded. The data are summarized as follows: Sample mean = $330.88 S = $106.1Does the sample evidence indicate a need for an investigation of illegal dumping?A. H0 : H1 :B. H0 : H1 :C. PROBLEMS – COMPLETE8.A well-known brand of size D batteries has a lifetime that is normally distributed with a mean of 105 hours and a standard deviation of 20 hours. A. What proportion of the batteries has a lifetime of less than 85 hours? (4 points) B. If a person buys 1 battery of this type, what would be the probability that its lifetime would be between 75 and 90 hours? (4 points) 9A A personnel researcher has designed a questionnaire and she would like to estimate the average time to complete the questionnaire. Suppose she samples 100 employees and finds that the mean time to take the test is 27 minutes with a standard deviation of 4 minutes. Construct a 90% confidence interval for the mean time to complete the questionnaire. (6 points) Also, write a short memorandum about the findings to the human resources director of your company summarizing the methodology, findings, results and conclusions. (4 points) – Use Minitab for this analysis.9B. For the problem in part A, the human resources director wants to know whether these is sufficient sample evidence to conclude that the average time to complete the questionnaire is not 27 minutes. Set up the hypotheses (in statistical terms) and, based only on the confidence interval you have constructed in part A, what would you conclude regarding the hypotheses? (6 points) H0 : H1 :Conclusion:ESSAYS (Please double space your work)Management researchers are interested in understanding factors that are related to success of managers in for-profit businesses. You have been hired as a consultant to assist the researchers. As you start your work, develop a plan that addresses the following (page limit: 2 pages):a)What is your clear definition of the problem? i.e., what is it that you would like to show with evidence from data and analysis? (4 points)b)What data would you collect? Identify and specify the variables (so that they can be measured), list them including type and level, and specify why each variable is useful (or needed) for the study. List a few (made-up) values for each variable. Be very specific and to the point. (6 points)c)Present a plan, for collecting the data specified above, in the form of a series of specific instructions for someone else that would actually collect the data for you. (6 points)d)Provide a justification for your plan as it pertains to the quality of the variables that you selected (i.e., explain why you believe that the variables are the best ones to measure to address the issue raised in the study). You may contrast your variables with others (or other ways to measure the same variables) of lesser quality to make your point that yours are the best. (4 points)Write a short tutorial describing, in your own words, "hypothesis testing" to a manager who is not very knowledgeable in business statistics. Do not list the steps or describe the statistical analysis, but describe it as a technique to solve business problems. Use an example problem/situation to illustrate your points. (Page limit: ½ page) (8 points)undefinedSuppose an investment broker’s claim is stated in the hypotheses as: H0: My clients earn an average return of at most 10% per year on their investments. H1: My clients earn an average return of more than 10% per year on their investments.What is the type I error here? What are the implications of this error? Who is affected and why? Explain. (4 points)
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Purdue University Coronavirus Pandemic Poll Discussion
Topic: Interpreting Survey ResultsWhen the results of a survey or poll are published, the sample size and the margin of er ...
Purdue University Coronavirus Pandemic Poll Discussion
Topic: Interpreting Survey ResultsWhen the results of a survey or poll are published, the sample size and the margin of error should both be given. For example: 1000 voters were surveyed and 39±2% of the voters agree with the president. In this example N=1000 and the margin of error (MoE) is 2%.This website lists several public opinion polls. Search the site and find a poll where the sample size and margin of error are given. Try to find a poll dealing with a topic in your profession or one in which you are really interested.http://www.pollingreport.comMain Post: Determine the following information for the selected poll results and include in your initial post. See Example and DB starter video in Unit 6 LiveBinder.URL for the website. State the poll question, the sample size n, and the margin of error (also known as sampling error).Interpret the results of your poll using your own words and full sentences. Note: Depending on the question asked, your poll may have more than one poll result – you only need to discuss one result.State the confidence interval using the MoE. What does this confidence interval estimate?Use the Confidence Interval template (found in Unit 6 LiveBinder) to calculate the confidence interval based on the sample size and the number of successes (the proportion you are interested in). Use a confidence level of 95%.What is the calculated confidence interval? How does this compare to the interval in part 3 using the poll’s margin of error?Discuss potential biases that could skew sampling results.
PSY5110 Northcentral Research Methods and Statistics in Psychology Paper
This week, you have read about hypothesis testing and will now apply
this knowledge by writing a paper that addresses th ...
PSY5110 Northcentral Research Methods and Statistics in Psychology Paper
This week, you have read about hypothesis testing and will now apply
this knowledge by writing a paper that addresses the following:Provide an example of a hypothesis where a one-tailed hypothesis test would be used.Provide an example of a hypothesis where a two-tailed hypothesis test would be used.If a researcher has set alpha at 0.05 for a two-tailed hypothesis test, what is the p-value required to reject the null hypothesis?A researcher has set alpha at 0.05. When the researcher analyzes the
data from the experiment using a software program, she obtains a p-value equal to 0.932. Based on this p-value, should the researcher reject the null hypothesis or fail to reject the null hypothesis? Please explain your answer.A researcher has set alpha at 0.01. When the researcher analyzes the
data from the experiment using a software program, he obtains a p-value equal to 0.04. Based on this p-value, should the researcher reject the null hypothesis or fail to reject the null hypothesis? Please explain your answer.A researcher is interested in whether music played during an exam
will improve exam performance. Students in one class listen to music
during an exam and students in another class take the exam in silence.
The researcher set alpha at 0.05. Test scores for both classes are
compared using a statistical software program. The mean test score for
the class that listened to music during the exam is 95, while the mean
test score for the class that took the exam in silence is 82. The
obtained p-value from the independent groups t-test is 0.02. Be sure to answer the following questions:
State the null and alternative hypothesis.Determine if this is a directional or non-directional test. Please explain your answer.Establish the conclusion of this study based on the p-value and the means provided.Describe the Type I error for this study.Describe the Type II error for this study.
Length:1-2 pagesYour paper should demonstrate thoughtful consideration of the ideas
and concepts presented in the course by providing new thoughts and
insights relating directly to this topic. Your response should reflect
scholarly writing and current APA standards.Recommended Readings:Gavin, H. (2008). Understanding research methods and statistics in psychology. London: SAGE Publications Ltd. doi:Sirkin, R. N. (2006). Statistics for the Social Sciences. (3rd ed.). Thousand Oaks, CA: SAGE Publications, Inc. doi:
Link
Banerjee,
A., Chitnis, U. B., Jadhav, S. L., Bhawalkar, J. S., & Chaudhury,
S. (2009). Hypothesis testing, type I and type II errors.
Link P values (n.d.). Statistical Help.
Link
Inferential statistics [Video file]. (2005). In Films on Demand.
Texas A&M University Kingsville Correlation and Regression Discussion
Let's discuss the difference between positive association and negative association when describing the relationship bet ...
Texas A&M University Kingsville Correlation and Regression Discussion
Let's discuss the difference between positive association and negative association when describing the relationship between two variables. What do we mean by the least-square criterion? Give a general description of how the least-square criterion is involve in the construction of the least-square line. Why do we say the least-squares line is the “best-fitting” line for the data set?
Use the Internet and find a magazine or journal article in your field of major interest wherein the content of this chapter (Correlation and Regression – chapter 6) could be applied. List the variables used, method of data collection, and the general type of information and conclusion drawn.
3 pages
20190901151203mat101 Wk8 Assignment 5.29.19
Professional movers estimate that the average American will move at least nine times during his or her lifetime. In additi ...
20190901151203mat101 Wk8 Assignment 5.29.19
Professional movers estimate that the average American will move at least nine times during his or her lifetime. In addition to moving from one ...
Central Ohio Technical College Data Driven Decision Making Paper
please use excel to answer these questions, PLEASE READ ALL DIRECTIONS as there are a few different requirements and SHOW ...
Central Ohio Technical College Data Driven Decision Making Paper
please use excel to answer these questions, PLEASE READ ALL DIRECTIONS as there are a few different requirements and SHOW ALL WORK FOR EACH QUESTION WITH EXCELPlease make sure you put your name in the space provided at the top right corner of this page.Please insure that your copy of the exam has 8 numbered pages and 12 questions (and two EXTRA-CREDIT questions).You may use your textbook, computer, and notes. You should do all the work on your own and not get any help from others (this includes tutors). Integrate, i.e., cut & paste, computer printouts (as part of the response to the questions) for any questions you use the computer analysis results.For the normal distribution problems #8 and #9, draw appropriate pictures and mark relevant points on the picture by using the Minitab “graph à probability distribution plot” function (you could also do this by drawing the picture on paper, scanning it, and incorporating into your answer).Please turn-in this exam as an electronic (soft) copy. You should type in your answers on this document and turn it in for grading. Please name the Word file as you have done for all submissions in this class. GRADE SUMMARYProblems: Partial44Problems: Complete24Short essays32Extra-Credit10 Total110GOOD LUCKFor your use with Word, I am providing some symbols we have used in class. You may cut-and-paste these symbols as and when you need them on this.= < > ≥ ≤ ≠ µ σ σσ2 S S2H0: H1: a PROBLEMS --PARTIALFor the following three business situations please identify whether the probability distribution to be used to model the situation is Binomial, Poisson, or some other distribution (you do not need to identify this if it is not Binomial or Poisson distribution, just state that it is an unknown distribution) and for each situation justify your choice of the probability distribution by listing the requirements of the distribution and how they are met. (You are not required to solve these problems) (2 + 2 points)Any profit-maximizing firm would like a larger share of the market. The advertising campaign in different communications media is the most effective method to reach the consumers. Chuck Atwood, Optico Corporation’s sales manager, recently concluded a six-month advertising campaign which featured a series of ads in major business periodicals. The firm’s advertising agency assured Optico management that 60% of the purchasing agents in the target industries would be aware of the campaign. At a recent sales convention, only 4 of the 10 purchasing agents whom Chuck Atwood questioned could remember seeing any of the ads. Should Optico undertake a more detailed (and expensive) study of the advertising agency’s claim? Why?Pat Lowe, general manager of Chicago Foundries, is facing a difficult situation. Her plant is currently operating at 60 percent of optimal capacity and is losing money. She has submitted bids on two government contracts, either of which would bring the plant up to capacity. However, if she were to receive both, she would have to subcontract one of them and would be no better off than she currently is. Lowe recently received an invitation to bid on another government contract of the same nature and magnitude as the two she currently has bids on. She is unsure whether she should bid. She would prefer to operate at 60 percent capacity than to receive all three bids. Past experience has convinced her that she has received contracts of this nature 20 percent of the time. Advise Ms. Lowe.Telephone sales operators make on the average 1 call every 10 minutes. Recently, operators have become upset with their working conditions and you wonder if they are slowing down to retaliate. You observe one operator who has made no calls in the past 50 minutes. Assume that the average of 1 call every 10 minutes has not changed. What is the probability that no calls would have been made in the past 50 minutes?For the next four problems, just do the following: (You are not required to solve these problems)A.Set up Null (H0) and alternate (H1) hypotheses (i.e., Step 1) in business terms (i.e., in plain English). (2 points)B.Set up Null (H0) and alternate (H1) hypotheses (i.e., Step 1) in statistical terms. (2 points)C.In the context of the problem, please specify what kind of conclusion will lead to type I error and discuss the implications of making this type of error (i.e., who will it impact and how). (2 + 2 points)The Better Business Bureau has received several complaints that a flour company is underfilling their five pound bags of flour. The Bureau randomly selects 750 bags of flour and determines the weight of each bag. The sample average weight of the bags is 4.80 pounds with a standard deviation of .15 pounds. Is there evidence at the .01 level of significance that the bags are underfilled? A. H0 : H1 :B. H0 : H1 :C.5.The director of the IRS has been flooded with complaints that people must wait for at least 45 minutes before seeing an IRS representative. To determine the validity of these complaints, the IRS randomly selects 400 people entering IRS offices across the country and records the times which they must wait before seeing an IRS representative. The average waiting time for the sample is 55 minutes with a standard deviation of 15 minutes. Are the complaints substantiated by the data? Use a significance level, α, of .10.A. H0 : H1 :B. H0 : H1 :C. A 1990 Survey showed that the average check at Perkins family restaurant is $4.70. The Perkins company wants to know if this figure is too high for 1997. The Perkins company takes a random sample of 54 checks from the restaurants across the country and determines that the sample average check is $4.62. The sample standard deviation of the checks is $0.86. Using a = .05, test to determine whether the Perkins, restaurant check average is significantly lower than $4.70.A. H0 : H1 :B. H0 : H1 :C. To protect U. S. steel producers against competition from low-priced foreign imports, theGovernment has adopted a trigger price mechanism. If steel imports enter this country at less than the minimum or trigger price (based on the cost of production in Japan, which has the world's most efficient steel factories), an investigation into the illegal dumping of cheap steel in the United States by foreign countries is launched. Last year, the average trigger price was set at $358.31 per ton. This year, a random sample of n = 40 was selected, and the trigger price on each of the days was recorded. The data are summarized as follows: Sample mean = $330.88 S = $106.1Does the sample evidence indicate a need for an investigation of illegal dumping?A. H0 : H1 :B. H0 : H1 :C. PROBLEMS – COMPLETE8.A well-known brand of size D batteries has a lifetime that is normally distributed with a mean of 105 hours and a standard deviation of 20 hours. A. What proportion of the batteries has a lifetime of less than 85 hours? (4 points) B. If a person buys 1 battery of this type, what would be the probability that its lifetime would be between 75 and 90 hours? (4 points) 9A A personnel researcher has designed a questionnaire and she would like to estimate the average time to complete the questionnaire. Suppose she samples 100 employees and finds that the mean time to take the test is 27 minutes with a standard deviation of 4 minutes. Construct a 90% confidence interval for the mean time to complete the questionnaire. (6 points) Also, write a short memorandum about the findings to the human resources director of your company summarizing the methodology, findings, results and conclusions. (4 points) – Use Minitab for this analysis.9B. For the problem in part A, the human resources director wants to know whether these is sufficient sample evidence to conclude that the average time to complete the questionnaire is not 27 minutes. Set up the hypotheses (in statistical terms) and, based only on the confidence interval you have constructed in part A, what would you conclude regarding the hypotheses? (6 points) H0 : H1 :Conclusion:ESSAYS (Please double space your work)Management researchers are interested in understanding factors that are related to success of managers in for-profit businesses. You have been hired as a consultant to assist the researchers. As you start your work, develop a plan that addresses the following (page limit: 2 pages):a)What is your clear definition of the problem? i.e., what is it that you would like to show with evidence from data and analysis? (4 points)b)What data would you collect? Identify and specify the variables (so that they can be measured), list them including type and level, and specify why each variable is useful (or needed) for the study. List a few (made-up) values for each variable. Be very specific and to the point. (6 points)c)Present a plan, for collecting the data specified above, in the form of a series of specific instructions for someone else that would actually collect the data for you. (6 points)d)Provide a justification for your plan as it pertains to the quality of the variables that you selected (i.e., explain why you believe that the variables are the best ones to measure to address the issue raised in the study). You may contrast your variables with others (or other ways to measure the same variables) of lesser quality to make your point that yours are the best. (4 points)Write a short tutorial describing, in your own words, "hypothesis testing" to a manager who is not very knowledgeable in business statistics. Do not list the steps or describe the statistical analysis, but describe it as a technique to solve business problems. Use an example problem/situation to illustrate your points. (Page limit: ½ page) (8 points)undefinedSuppose an investment broker’s claim is stated in the hypotheses as: H0: My clients earn an average return of at most 10% per year on their investments. H1: My clients earn an average return of more than 10% per year on their investments.What is the type I error here? What are the implications of this error? Who is affected and why? Explain. (4 points)
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