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In Exercise, test the given claim.Denomination Effect In a

Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola ISBN: 9780321836960 18

Solution for problem 5 BSC Chapter 11.3

Elementary Statistics | 12th Edition

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Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola

Elementary Statistics | 12th Edition

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Problem 5 BSC

Problem  5BSC

In Exercise, test the given claim.

Denomination Effect In a study of the “denomination effect” described in the Chapter Problem, 150 women in China were given either a single 100 Yuan bill or a total of 100 Yuan in smaller bills. The value of 100 Yuan is about $15. The women were given the choice of spending the money on specific items or they could keep the money. The results are summarized in the table below, and STATDISK results are provided in the screen display. Use a 0.05 significance level to test the claim that the form of the 100 Yuan is independent of whether the money was spent. What does the result suggest about a denomination effect?

 

Spent the Money

Kept the Money

Women Given a Single 100-Yuan Bill

60

15

Women Given 100 Yuan in Smaller Bills

68

7

Step-by-Step Solution:
Step 1 of 3

Solution  5BSC

As per the given information we have P value is 0.0648. On comparing this with significance level we find that....

Step 2 of 3

Chapter 11.3, Problem 5 BSC is Solved
Step 3 of 3

Textbook: Elementary Statistics
Edition: 12
Author: Mario F. Triola
ISBN: 9780321836960

This full solution covers the following key subjects: Yuan, given, Money, Women, denomination. This expansive textbook survival guide covers 121 chapters, and 3629 solutions. Since the solution to 5 BSC from 11.3 chapter was answered, more than 263 students have viewed the full step-by-step answer. This textbook survival guide was created for the textbook: Elementary Statistics, edition: 12. Elementary Statistics was written by and is associated to the ISBN: 9780321836960. The answer to “In Exercise, test the given claim.Denomination Effect In a study of the “denomination effect” described in the Chapter Problem, 150 women in China were given either a single 100 Yuan bill or a total of 100 Yuan in smaller bills. The value of 100 Yuan is about $15. The women were given the choice of spending the money on specific items or they could keep the money. The results are summarized in the table below, and STATDISK results are provided in the screen display. Use a 0.05 significance level to test the claim that the form of the 100 Yuan is independent of whether the money was spent. What does the result suggest about a denomination effect? Spent the MoneyKept the MoneyWomen Given a Single 100-Yuan Bill6015Women Given 100 Yuan in Smaller Bills687” is broken down into a number of easy to follow steps, and 133 words. The full step-by-step solution to problem: 5 BSC from chapter: 11.3 was answered by , our top Statistics solution expert on 03/15/17, 10:30PM.

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