# GB513-2: Apply Hypothesis testing and probability analysis to solve business problems

In this assignment, you will be assessed based on the following outcome:

GB513-2: Apply hypothesis testing and probability analysis to solve business problems.

This assignment has two parts. Part 1 has questions about probability calculations. Part 2 has questions about hypothesis testing. You will use Excel only in Question 6. All other questions should be calculated manually. Follow all instructions carefully.

Make sure to use the Unit 3 Assignment template located in the Course Documents module to submit your answers. Type in your calculations. Pictures of hand written work are not acceptable.

## Part 1

Question 1

In a class where the exam averages are normally distributed, the mean score is 75 and the standard deviation is 15. If you want to find out the probability that a randomly picked student has scored 105 or above, what is the z-value that you should look up on the normal distribution table?

### Question 2

According to a report by Scarborough Research, the average monthly household cellular phone bill is \$73. Suppose local monthly household cell phone bills are normally distributed with a standard deviation of \$22.

a. What is the probability that a randomly selected monthly cell phone bill is less than \$95?

b. What is the probability that a randomly selected monthly cell phone bill is between \$62 and \$84?

### Question 3

A Travel Weekly International Air Transport Association survey asked business travelers about the purpose for their most recent business trip. 19% responded that it was for an internal company visit. Suppose 950 business travelers are randomly selected.

a. What is the probability that more than 20% of the business travelers say that the reason for their most recent business trip was an internal company visit?

b. What is the probability that between 18% and 20% of the business travelers say that the reason for their most recent business trip was an internal company visit?

Part 2

Question 4

Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is \$3.16. You believe that the figure is higher in your area of the country. You decide to test this claim for your area of the United States by randomly calling gasoline stations. Your random survey of 25 stations produces the following prices (all in dollars). Assume gasoline prices for a region are normally distributed.

Did the data you obtained provide enough evidence to reject the claim? Use a 1% level of significance.

Make sure you clearly state both the null and the alternative hypotheses in full sentences. Following your calculations, clearly state the conclusion in the same manner (do not simply say “accept/reject null”) and explain how you arrived at this conclusion (based on which metrics).

3.27

3.3

3.16

3.15

3.11

3.05

3.54

3.25

3.05

3.11

3.13

3.15

3.27

3.14

3.14

3.2

3.3

3.09

3.05

3.07

3.37

3.34

3.35

3.35

3.1

## Question 5

Where do CFOs get their money news? According to Robert Half International, 47% get their money news from newspapers, 15% get it from communication/colleagues, 12% get it from television, 11% from the Internet, 9% from magazines, 5% from radio, and 1% do not know. Suppose a researcher wants to test these results. She randomly samples 76 CFOs and finds that 40 of them get their money news from newspapers. Does the test show enough evidence to reject the findings of Robert Half International? Use a = .05.

Make sure you clearly state both the null and the alternative hypotheses in full sentences. Following your calculations, clearly state the conclusion in the same manner (do not simply say “accept/reject null”) and explain how you arrived at this conclusion (based on which metrics).

Question 6

To answer this question, use the Data Analysis Toolpack in Excel and select “t-Test: Two-Sample Assuming Equal Variances” from the list of available tools. Conduct a hypothesis test using this tool. Explain your answer (how you decided if men spend more or not) and include the output table.

Some studies have shown that in the United States, men spend more than women buying gifts and cards on Valentine’s Day. Suppose a researcher wants to test this hypothesis by randomly sampling men and women with comparable demographic characteristics from various large cities across the United States to be in a study. Each study participant is asked to keep a log beginning 1 month before Valentine’s Day and record all purchases made for Valentine’s Day during that 1-month

period. The resulting data are shown below. Use these data and a 1% level of significance to test to determine if, on average, men actually do spend significantly more than women on Valentine’s Day. Assume that such spending is normally distributed in the population and that the population variances are equal.

Make sure you clearly state both the null and the alternative hypotheses in full sentences. Include the output table; then, clearly state the conclusion in the same manner (do not simply say “accept/reject null”) and explain how you arrived at this conclusion (based on which metrics).

Men

Women

107.48

125.98

143.61

59.32

90.19

96.35

125.53

80.62

70.79

77.6

83

84.34

129.63

75.21

154.22

68.48

93.8

65.84

111.25

126.11

78.6

82.54

89.35

123.5

Calculate the price
Pages (550 words)
\$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Mules
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Political science
Thank you!
Customer 452701, February 12th, 2023
Accounting
Thank you for your help. I made a few minor adjustments to the paper but overall it was good.
Customer 452591, November 11th, 2021
Education
Thank you so much, Reaserch writer. you are so helpfull. I appreciate all the hard works. See you.
Customer 452701, February 12th, 2023
Psychology
Thank you. I will forward critique once I receive it.
Customer 452467, July 25th, 2020
Technology
Customer 452551, October 22nd, 2021
Finance
Thank you very much!! I should definitely pass my class now. I appreciate you!!
Customer 452591, June 18th, 2022
Political science
I like the way it is organized, summarizes the main point, and compare the two articles. Thank you!
Customer 452701, February 12th, 2023
Psychology
I requested a revision and it was returned in less than 24 hours. Great job!
Customer 452467, November 15th, 2020
Great paper thanks!
Customer 452543, January 23rd, 2023
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend