Ask Question, Ask an Expert


Ask Business Law & Ethics Expert

problem: A busy landscaping supplies company sells wood chips for garden mulch. The mulch is sold by the cubic meter and delivered to households in a small truck. Each and every truckload is expected to be 4 cubic meters. The company decides to conduct an audit of actual load volumes through measuring a sample of loads for a two-week period. The data file Mulch.xls contains the volume (in cubic meters) from a sample of 368 truckloads of cypress pine wood chips and 330 truckloads of cedar wood chips.

a) For cypress pine wood chips, construct a 95% confidence interval estimate of the mean volume.

b) For cedar wood chips, construct a 95% confidence interval estimate of the mean volume.

c) The company is interested to know whether there is a linear relationship among the delivery volumes for the two kinds of wood chips. Compute a correlation coefficient for the first 330 pairs of observations and test whether this relationship is important at 1% level. Make sure you state the hypotheses which you are testing.

d) Based on the outcomes of (a) and (b), what conclusions can you reach concerning mean volume of the cypress pine wood chips and cedar wood chips?

problem: In a random sample of 25 observations from a normal population, we determine that the sample mean = 140, and the sample standard deviation = 10. By using a level of significance of 0.05, test the hypothesis that the population mean is 150.

You are needed to:

a) State the kind of test which you are going to use.
b) State the hypotheses which you are going to test.
c) Compute the standard error.
d) Compute the t-statistic.
e) Compute the p-value.
f) Draw your conclusion.
g) Find out the 95% confidence interval of the population mean and state whether it supports your conclusion given in f) above.

problem: The fill amount of soft drink bottles is usually distributed with a mean of 2.0 liters and a standard deviation of 0.05 liters. If you choose a random sample of 25 bottles, what is the probability that the sample mean will be?

a) Between 1.99 and 2.0 liters?
b) Below 1.98 liters?
c) Above 2.01 liters?
d) The probability is 99% that the sample mean will contain at least how much soft drink?

problem: It is believed that a linear relationship exists among Salary (the dependent variable) and the employees experience measured in years (the independent variable) for Diploma graduates. By using the summary data from a sample of 10 employees: experience = 93, = 975, salary = 1014, = 105104, = 9922

a) Provide the regression line equation for this sample. Interpret the coefficient and the intercept.

b) Compute the standard error of estimate and describe what it tells you about the model fit.

c) Test to find out whether there is adequate evidence to infer that a linear relationship exists between experience and salary at the 0.01 significance level. Make sure you state the hypotheses which you are testing.

d) Use your model to forecast the expected salary where an employee has 15 years of experience or state why it is not possible to do so.

problem: A transport company wishes to predict the price of petrol based on international crude oil prices. They record average monthly petrol prices and crude oil prices over a 12 month period.

1368_average monthly price record.jpg

a) Plot a scatter diagram and, assuming a linear relationship, use the least-squares technique to compute the regression equation for this data. You will require to show your calculations for SSX, SSXY and

b) Interpret the meaning of the Y intercept, and the slope in this problem.

c) Use the prediction equation developed in (a) to forecast the petrol price if crude oil is $75 per barrel.

d) Compute the coefficient of determination, r2, and interpret its meaning in this problem.

e) Perform a residual analysis on your outcomes and found out whether the sample data meet the linear regression supposition of equal variance (homoscedasticity).

f) At 0.05 level of significance, is there evidence of a linear relationship among petrol and crude prices? Make sure that you state the hypotheses you are testing.

g) Construct a 95% confidence interval of the population slope.

Business Law & Ethics, Finance

  • Category:- Business Law & Ethics
  • Reference No.:- M9136

Have any Question? 

Related Questions in Business Law & Ethics

Assignment senior seminar projectyou chose correctional

Assignment: Senior Seminar Project You chose CORRECTIONAL FACILITIES a topic area and problem or challenge within that area. Throughout this course, you have researched the dynamics of the problem. The final piece of you ...

Assignment law and the judicial system1an advantage of adr

Assignment: Law and the Judicial System 1. An advantage of ADR is that it A. effectively handles constitutional law. B. saves time and money. C. promotes the development of the law. D. improves the discovery process. 2. ...

Business ethicsi have three questions related to business

Business Ethics I have three questions related to business ethics. For each question, I want to write a 600 words essay to answer and discuss the questions. The language does not need to be perfect. However, for each ess ...

Legal essaywrite an 800 to 1000 word legal essay on any of

Legal Essay Write an 800 to 1000 word legal essay on any of the following topics: Divorce Law (in your state), Child Custody (in your state), OR Divorce Mediation (in your state).

Develop a paper of 8-10 pages that addresses the following

Develop a paper of 8-10 pages that addresses the following questions. Who will comprise your planning committee? Explain. Identify public- and private-sector partner agencies and elected officials (if any) that should se ...

Assignment1warranty review assignment find a warranty

Assignment 1. Warranty Review Assignment. Find a "warranty" pertaining to the sale of goods. Normally, these are included in the boxes containing electronic devices, home appliances, and electrical tools. You can also fi ...

Employment law questions1 carla thomas a nonsmoker often

Employment Law Questions 1. Carla Thomas, a nonsmoker, often encouraged her co-workers to quit smoking. Her new manager, Paul, a smoker, was annoyed by what he considered her constant nagging. He moved her desk from a se ...

Discussion - judicial processbased on the quotes in the

Discussion - Judicial Process Based on the quotes in the handout, "Moley's Wisdom and Insight Regarding Plea Bargains," ( ...

Crime and criminologycriminology studies criminal behavior

Crime and Criminology Criminology studies criminal behavior in society. Criminal behavior is behavior that breaks criminal codes established by our society. In a well-constructed, one page essay (400+ words), discuss the ...

Law intentional tortsken hates len one day ken sees len

Law Intentional Torts Ken hates Len. One day Ken sees Len riding his horse on the Bridle Path. Ken runs up to Len and kicks Lens horse in the leg. Discuss Ken's liability to Len, if any, for any intentional torts.

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro