A lake in East Texas was stocked with 3,000 trout in the year 2000. The number of fish in the lake is modeled by

The Oliver Company plans to market a new product. Based on its market studies, Oliver estimates that it can sell up to 5,500 uni

Ghella [55]

For the Oliver Company to break even, the total revenue must equal the sum of the variable costs and the fixed cost. Mathematically, this can be represented as: Total revenue = 0.4*(Total revenue) + (Fixed Costs) Let the number of units sold be x. then, 7*x = 0.4*(7*x) + 6300 Thus, x = 6300/(0.6*7) = 1500 units. Thus the company will have to sell 1500 units to break even.

8 0

3 years ago

Health insurance benefits vary by the size of the company (the Henry J. Kaiser Family Foundation website, June 23, 2016). The sa

xxMikexx [17]

Answer:

$\chi^2 = \frac{(32-42)^2}{42}+\frac{(18-8)^2}{8}+\frac{(68-63)^2}{63}+\frac{(7-12)^2}{12}+\frac{(89-84)^2}{84}+\frac{(11-16)^2}{16}=19.221$

Now we can calculate the degrees of freedom for the statistic given by:

$df=(rows-1)(cols-1)=(3-1)(2-1)=2$

And we can calculate the p value given by:

$p_v = P(\chi^2_{2} >19.221)=0.000067$

And we can find the p value using the following excel code:

"=1-CHISQ.DIST(19.221,2,TRUE)"

Since the p values is higher than a significance level for example $\alpha=0.05$ , we can reject the null hypothesis at 5% of significance, and we can conclude that the two variables are dependent at 5% of significance.

Step-by-step explanation:

Previous concepts

A chi-square goodness of fit test "determines if a sample data matches a population".

A chi-square test for independence "compares two variables in a contingency table to see if they are related. In a more general sense, it tests to see whether distributions of categorical variables differ from each another".

Solution to the problem

Assume the following dataset:

Size Company/ Heal. Ins. Yes No Total

Small 32 18 50

Medium 68 7 75

Large 89 11 100

_____________________________________

Total 189 36 225

We need to conduct a chi square test in order to check the following hypothesis:

H0: independence between heath insurance coverage and size of the company

H1: NO independence between heath insurance coverage and size of the company

The statistic to check the hypothesis is given by:

$\sum_{i=1}^n \frac{(O_i -E_i)^2}{E_i}$

The table given represent the observed values, we just need to calculate the expected values with the following formula $E_i = \frac{total col * total row}{grand total}$

And the calculations are given by:

$E_{1} =\frac{50*189}{225}=42$

$E_{2} =\frac{50*36}{225}=8$

$E_{3} =\frac{75*189}{225}=63$

$E_{4} =\frac{75*36}{225}=12$

$E_{5} =\frac{100*189}{225}=84$

$E_{6} =\frac{100*36}{225}=16$

And the expected values are given by:

Size Company/ Heal. Ins. Yes No Total

Small 42 8 50

Medium 63 12 75

Large 84 16 100

_____________________________________

Total 189 36 225

And now we can calculate the statistic:

$\chi^2 = \frac{(32-42)^2}{42}+\frac{(18-8)^2}{8}+\frac{(68-63)^2}{63}+\frac{(7-12)^2}{12}+\frac{(89-84)^2}{84}+\frac{(11-16)^2}{16}=19.221$

Now we can calculate the degrees of freedom for the statistic given by:

$df=(rows-1)(cols-1)=(3-1)(2-1)=2$

And we can calculate the p value given by:

$p_v = P(\chi^2_{2} >19.221)=0.000067$

And we can find the p value using the following excel code:

"=1-CHISQ.DIST(19.221,2,TRUE)"

Since the p values is higher than a significance level for example $\alpha=0.05$ , we can reject the null hypothesis at 5% of significance, and we can conclude that the two variables are dependent at 5% of significance.

3 0

3 years ago

Need help...........

Kay [80]

The commutative property is when you can change the order and it will be the same answer.

6 + 8 + 7 = 7 + 8 + 6 would be your answer.

3 0

3 years ago

Read 2 more answers

Use the slider to change the value of b. Which statement

Katarina [22]

Answer: