1.A marketing researcher wants to estimate the mean savings ($) realized by shoppers

QUESTION

1.A marketing researcher wants to estimate the mean savings ($)
realized by shoppers who showroom. Showrooming is the practice of inspecting
products in retail stores and then purchasing the products online at a lower
price. You want to test whether the population mean savings for all showroomers
who purchased a consumer electronics item is different from $50.1. The Type I error in the
context of this question is_____________A. The population mean saving
for all showroomers who purchased a consumer electronics item is different from
50$.B. The population mean saving
for all showroomers who purchased a consumer electronics item is not different
from 50$.C. The population mean saving
for all showroomers who purchased a consumer electronics item is different from
50$ and you conclude that it is not.D. The population mean saving
for all showroomers who purchased a consumer electronics item is not different
from 50$ and you conclude that it is.2.The Type II error in the
context of this question is____________A. The population mean saving
for all showroomers who purchased a consumer electronics item is different from
50$.B. The population mean saving
for all showroomers who purchased a consumer electronics item is not different
from 50$.C. The population mean saving
for all showroomers who purchased a consumer electronics item is different from
50$ and you conclude that it is not.D. The population mean saving
for all showroomers who purchased a consumer electronics item is not different
from 50$ and you conclude that it is.3.A manufacturer of chocolate
candies uses machines to package candies as they move along a filling line.
Although the packages are labeled as 8 ounces, the company wants the packages
to contain a mean of 8.17 ounces so that virtually none of the packages contain
less than 8 ounces. You want to test whether the population mean amount is
different from 8.17 ounces.Suppose thep-value
of the evidence for this test is 0.32. Using a 0.10 level of significance, your
decision for the test should be to_________A. to reject the null
hypothesisB. to not reject the null
hypothesisC. to accept the null hypothesisD. reject the alternative
hypothesis4. An insurance company has the business objective of reducing the
amount of time it takes to approve applications for life insurance. The ability
to deliver approved policies to customers in a timely manner is critical to the
profitability of this service. You want to test whether the mean processing
time was 45 days. Suppose
you decide to reject the null hypothesis based on the p-value of
the evidence obtained. Your conclusion should be that__________A. there
is insufficient evidence that the mean processing time was 45 days.B.
there is insufficient evidence that the mean processing time was not 45 days.C.
there is sufficient evidence that the mean processing time was 45 days.D.
there is sufficient evidence that the mean processing time was not 45 days.

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