Assume you have noted the following prices for books and the number of pages that each book contains.
Book
Pages (x)
Price (y)
A
500
$7.00
B
700
7.50
C
750
9.00
D
590
6.50
E
560
7.50
F
650
7.00
G
475
5.00
?
?
?
?
?
?
?
?
?
?
a.Perform an F test and determine if the price and the number of pages of the books are related. Let ? = .01.b.Perform a t test and determine if the price and the number of pages of the books are related. Let ? = .01.c.Develop a 90% confidence interval for estimating the average price of books that contain 800 pages.d.Develop a 90% confidence interval to estimate the price of a specific book that has 800 pages.?
?
What will be an ideal response?
| a. | F= 8.41; p-value is between .01 and .05 (Excel’s result: p-value = .034); do not reject H0; no evidence that x and y are related. |
| b. | t = 2.90; p-value is between .01 and .05. (Excel’s result: p-value = .034); do not reject H0; no evidence that x and y are related. |
| c. | $7.41to $10.42 (rounded) |
| d. | $6.76 to $11.07 (rounded) |
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The David Chen case is famous as it resulted in a change in the law relating to
A) employer's liability for workers actions B) a citizen's arrest within a reasonable amount of time after a crime was committed C) a store's liability for false imprisonment when it mistakenly held the wrong person D) a reporter's right to make critical comments E) an employer's right to search employees it thinks have stolen goods
Whether a worker is an employee or an independent contractor has no effect on the employer's liability for the worker's actions
Indicate whether the statement is true or false
It costs a producer $400 to manufacture a product that is distributed through wholesalers and retailers. The markups at the producer, wholesaler, and retailer levels are 20 percent, 20 percent, and 50 percent, respectively. The wholesaler's selling price for the product is ________, and the retailer's selling price is ________.
A. $625; $1,250 B. $480; $576 C. $576; $864 D. $500; $625 E. The amounts cannot be determined from the information provided.