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    Formula's for Statistical Problems: Lisa Monnin and Discount Furniture

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    Exercise # 14
    The null and alternate hypotheses are:
    A random sample of 15 observations from the first population revealed a sample mean of 350 and a sample standard deviation of 12. A random sample of 17 observations from the second population revealed a sample mean of 342 and a sample standard deviation of 15. At the .10 significance level, is there a difference in the population means?

    Exercise # 17
    Ms. Lisa Monnin is the budget director for Nexus Media, Inc. She would like to compare the daily travel expenses for the sales staff and the audit staff. She collected the following sample information.
    Sales ($) 131 135 146 165 136 142
    Audit ($) 130 102 129 143 149 120 139
    At the .10 significance level, can she conclude that the mean daily expenses are greater for the sales staff than the audit staff? What is the p-value?

    Exercise # 21
    The management of Discount Furniture, a chain of discount furniture stores in the Northeast, designed an incentive plan for salespeople. To evaluate this innovative plan, 12 salespeople were selected at random, and their weekly incomes before and after the plan were recorded.

    Salesperson Before After
    Sid Mahone $320 $340
    Carol Quick 290 285
    Tom Jackson 421 475
    Andy Jones 510 510
    Jean Sloan 210 210
    Jack Walker 402 500
    Peg Mancuso 625 631
    Anita Loma 560 560
    John Cuso 360 365
    Carl Utz 431 431
    A. S. Kushner 506 525
    Fern Lawton 505 619

    Was there a significant increase in the typical salesperson's weekly income due to the innovative incentive plan? Use the .05 significance level. Estimate the p-value, and interpret it.

    Exercise # 43
    Fairfield Homes is developing two parcels near Pigeon Fork, Tennessee. In order to test different advertising approaches, they use different media to reach potential buyers. The mean annual family income for 75 people making inquiries at the first development is $150,000, with a standard deviation of $40,000. A corresponding sample of 120 people at the second development had a mean of $180,000, with a standard deviation of $30,000. At the .05 significance level, can Fairfield conclude that the population means are different?

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    Solution Summary

    Solutions to the three practice problems include step by step calculations and explanation of the results in an attached Word and Excel file.