Author: Anonymous

Use the following scenario to answer questions 32-35. A restaurant chain claims that at least 75% of its customers are satisfied with their dining experience.  A business analyst wants to test this claim.  A random sample of 200 customers is surveyed and 140 report being satisfied.  The analyst provides the power curve shown below.                                              32. What is the correct alternative hypothesis?

19. A 95% confidence interval for the proportion of consumers delaying major purchases is (0.41, 0.49). Which statement is correct?

22. To conduct the hypothesis test about the population proportion, once the hypotheses are stated, we always begin the test by assuming

Cumulative Standard Normal.pdf   Student_t_Table.pdf   BUSOBA2320_Sharpe_Formulas_SP25.pdf

1. A production manager tracks daily manufacturing output and finds that the dataset has a variance of exactly 0. Which interpretation is MOST meaningful for a business analysis?

16. A survey estimates that 48% of small businesses plan to hire more workers. If a 95% confidence interval based on this estimate has a margin of error of 4 percentage points, how many small businesses were surveyed (i.e., what was the sample size)?

4. A financial company tracks corporate transaction values with a historical mean of 240,000 and a standard deviation of 90,000. As part of a new fraud detection policy, the risk management team wants to automatically flag any single transaction that falls in the top 10% of all transaction values. What is the minimum transaction value that would trigger a flag?

26. The P-value for this test is 0.0098. Given this P-value, which of the following is the best conclusion the student organization should make?

14. A labor economist surveys 25 workers in Columbus and finds the average weekly grocery bill is $182 with a sample standard deviation of $24. Assume all required data conditions are met. Which of the following is closest to the 95% confidence interval for the population mean grocery bill?

11. A regional logistics center tracks its package delivery performance and determines that the probability of an individual shipment arriving delayed due to severe weather is p = 0.08. An operations analyst runs a random quality audit on a cohort of n=150 independent shipments. The logistics center fails its monthly Service Level Agreement (SLA) if the sample delayed proportion exceeds. Using the Normal approximation, what is the estimated probability that the logistics center fails its Service Level Agreement?