Question

New corporate strategies take years to develop. Two methods for facilitating the development of new strategies by execute strategy meetings are to be compared. One method is to hold a two-day retreat in a posh hotel; the other is to hold a series of informal luncheon meetings on company premises. Excel file (HW07_Q2.xls) contains the results of two independent random samples of firms following one of these two methods. The data are the number of months for each company that elapsed from the time an idea was first suggested until the time it was implemented. Test for a difference between means, using alpha-0.05. Q7. Please state your hypothesis a ) H0 : μ(hotel) - μ( onsite) -0, Ha: μ(hotel) - μ(onsite) > 0 b) H0: μ(hotel) - μ(onsite)-0, Ha: μ(hotel) - μ(onsite) <0 c) H0: H(hotel)- (onsite)> 0, Ha u(hotel)- H(onsite)=0 d) H0 : μ(hotel) - μ(onsite) -0, Ha: μ(hotel) - μ(onsite) +0 Q8. What type of test you will be using to test the hypothesis? a) Only an Independent Samples t-test b) F-test First Then a Paired Samples t-test c) F-test First Then an Independent Samples t-test d) Z-test Q9. What is the value of the test statistic? a) 4.12 b) 1.71 c) 2.06 d) -4.12 Q10. What is the p-value? a) 0.00019 b) 0.00038 c) 0.014 d) 0.028 Q11. What is the rejection criteria? Reject H0 if a) p-value < 0.05 b) p-value < 0.10 c) p-value < 0.025 d) p-value > 0.05 Q12. What is your conclusion? a) Reject HO b) Fail to Reject H0 c) Reject Ha d) Fail to Reject Ha Given a sample size nj-40 from a population with known standard deviation oi-20, and an independent sample of size n2-50 from another population with known standard deviation o2-20, Q13. What is the value of the Z-test statistic for testing differences in two populations means if X- 72 and X==66? a) 2.41 b) 1.41 c) 2.36 d) 1.00 Q14. What is your decision if you are testing HO: H1 = 42 against H1: ui 2 Using a level of significance a 0.01 a) Reject HO b) Fail to Reject H0 c) Reject Ha d) Fail to Reject Ha Q15. What is the p-value if you are testing HO: 2against H1: i2. a) 0.02 b) 0.01 c) 0.15 d) 0.075

Answer 1

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