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Consider the following two questions designed to assessquantitative literacy:a. What is

Probability and Statistics for Engineering and the Sciences | 9th Edition | ISBN: 9781305251809 | Authors: Jay L. Devore ISBN: 9781305251809 122

Solution for problem 49 Chapter 9.4

Probability and Statistics for Engineering and the Sciences | 9th Edition

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Probability and Statistics for Engineering and the Sciences | 9th Edition | ISBN: 9781305251809 | Authors: Jay L. Devore

Probability and Statistics for Engineering and the Sciences | 9th Edition

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Problem 49

Consider the following two questions designed to assessquantitative literacy:a. What is 15% of 1000?b. A store is offering a 15% off sale on all TVs. Themost popular television is normally priced at $1000.How much money would a customer save on thetelevision during this sale?Suppose the first question is asked of 200 randomlyselected college students, with 164 answering correctly;the second one is asked of a different random sample of200 college students, resulting in 140 correct responses(the sample percentages agree with those given in thearticle Using the Right Yardstick: Assessing FinancialLiteracy Measures by Way of Financial Well-Being,J. of Consumer Affairs, 2013: 243262; the investigatorsfound that those who answered such questions correctly,particularly questions with context, were significantlymore successful in their investment decisions than thosewho did not answer correctly). Carry out a test of hypothesesat significance level .05 to decide if the true proportionof correct responses to the question without contextexceeds that for the one with context.

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Groups Randomize control group Split individuals into two groups separately Control vs. treatment Compare the two averages correlation between the groups (Measure the strength before and after to get the experiment) Matching Observed and match into pairs with two treatments (Longitudinal and measures) Each group has their own control group within Find the change between...

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Chapter 9.4, Problem 49 is Solved
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Textbook: Probability and Statistics for Engineering and the Sciences
Edition: 9
Author: Jay L. Devore
ISBN: 9781305251809

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Consider the following two questions designed to assessquantitative literacy:a. What is