Week 5 Individual

The purpose of this assignment is to develop students’ abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable. 

Assignment Steps 

Resources: Microsoft Excel®, Case Study Scenarios, SpeedX Payment Times 

Develop a 700- to 1,050-word statistical analysis based on the Case Study Scenarios and SpeedX Payment Times. 

Include answers to the following: 

Case 1: Election Results 

• Use 0.10 as the significance level (α).

• Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state. 

Case 2: SpeedX

• Use 0.10 and the significance level (α).

• Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable. 

Format your assignment consistent with APA format. 

Case Study – Election Results

and SppedX

QNT/561 Version 9 1

University of Phoenix Material

Case Study – Election Results

When an election for political office takes place, the television networks cancel regular programming and instead, provide election coverage. When the ballots are counted, the results are reported. However, for important offices such as president or senator in large states, the networks actively compete to see which will be the first to predict a winner. This is done through exit polls, wherein a random sample of voters who exit the polling booth is asked for whom they voted. From the data, the sample proportion of voters supporting the candidates is computed. Hypothesis testing is applied to determine whether there is enough evidence to infer the leading candidate will garner enough votes to win.

Suppose in the exit poll from the state of Florida during the 2000 year elections, the pollsters recorded only the votes of the two candidates who had any chance of winning: Democrat Al Gore and Republican George W. Bush. In a sample of 765 voters, the number of votes cast for Al Gore was 358 and the number of votes cast for George W. Bush was 407. The network predicts the candidate as a winner if he wins more than 50% of the votes. The polls close at 8:00 P.M. Based on the sample results, conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state. Use 0.10 as the significance level (α).

Case Study – SpeedX

SpeedX, a large courier company, sends invoices to customers requesting payment within 30 days. The bill lists an address, and customers are expected to use their own envelopes to return their payments. Currently, the mean and standard deviation of the amount of time taken to pay bills are 24 days and 6 days, respectively. The chief financial officer (CFO) believes including a stamped self-addressed envelope would decrease the amount of time. She calculates the improved cash flow from a 2-day decrease in the payment period would pay for the costs of the envelopes and stamps. You have an MBA from the University of Phoenix, and work for SpeedX as a business analyst. One of your job duties is to run analytics and present the results to the senior management for critical decision-making. You see this as an opportunity to utilize some of the skills you gained in the Statistics course. Because of your strong understanding and background in inferential statistics, you decide to take up this important assignment. You have learned any analysis in inferential statistics starts with sampling. To test the CFO’s belief, you decide to randomly select 220 customers and propose to include a stamped self-addressed envelope with their invoices. The CFO accepts your proposal and allows you to run a pilot study. You then record the numbers of days until payment is received. Using your statistical expertise and skills you gained in the class, conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude that the plan will be profitable. Use 0.10 and the significance level (α).

Copyright © 2017 by University of Phoenix. All rights reserved.

One-Sample Hypothesis Testing Cases 2

>Grading Guide

QNT/561 Version 9 4

One-Sample Hypothesis Testing Cases Grading Guide

QNT/561 Version 9

Applied Business Research and Statistics

Copyright

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Individual Assignment: One-Sample Hypothesis Testing Cases

Purpose of Assignment

The purpose of this assignment is to develop students’ abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable.

Resources Required

Microsoft Excel®

Case Study Scenarios

SpeedX Payment Times

Grading Guide

Met

Partially Met

Not Met

Comments:

Total Available

Total Earned

Sheet1

13

24

13
23

14
27

20
30
24
18
21
24
18
27
27
27
21
22
23
18
17
23
26
20
20
22
21
13

18

26
19
16

16
20
16
14
25
14

17
16
19
19
17
18
22
23
22
27
23
23
21
20
18
29
32
27

21
26
32
20
29
25
15
21
30
24
23
14
18
22

24
35
29
24
17
27
15
19

19
21
19
21
15
17
20
21
31
19
27
19
26
26
26
23
12
20
34
21
24
20
21
16
23
13
19
18
31
29
23
28
19
19
22
24
21
23
14
25
17
22
21
18
22
15
27
14
23
25
24
24
17
16
30
24
17
27
24
17

25
15
13
29
21
22
11
25
30
23
18
19
18
14
21
22
17
19
23
31
26
25
15
16
28
27
22
12
25
12
21
19
26
16
21
30
16
25
13
11
13
22
28
14
21
30
19
14
31

14
21
28

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