Independent Random Samples of N₁ = 150 and N₂ =

question 95

Short Answer

Independent random samples of n₁ = 150 and n₂ = 150 sales phone calls for an insurance policy were randomly selected from binomial populations 1 and 2, respectively. Sample 1 had 80 successful sales, and sample 2 had 88 successful sales. Suppose you have no preconceived theory concerning which parameter, p₁ or p₂, is the larger and you wish to detect only a difference between the two parameters if one exists.
Calculate the standard error of the difference in the two sample proportions, . Make sure to use the pooled estimate for the common value of p.
______________
Calculate the test statistic that you would use for the test above. Based on your knowledge of the standard normal distribution, is this a likely or unlikely observation, assuming that H₀ is true and the two population proportions are the same?
Test statistic = ______________
Find the p-value for the test. Test for a significant difference in the population means at the 1% significance level.
p-value = ______________
Find the rejection region when = 0.01. Do the data provide sufficient evidence to indicate a difference in the population proportions?
Critical Value(s) = ______________
Conclusion: ______________
Interpretation: __________________________________________

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Definitions:

Common Elements

Portions of property that are part of a multi-unit dwelling that are not owned by any individual owner, but instead are shared and maintained by all owners, such as lobbies, halls, and recreational facilities.

Strict Product Liability

The legal responsibility of a seller or manufacturer for any injury caused by selling or manufacturing a defective product, regardless of negligence or fault.

Motion To Dismiss

is a legal request asking a court to dismiss a case for specific reasons, such as lack of jurisdiction or failure to state a claim.

Retailer Liability

This pertains to the legal responsibility of retailers to ensure that the products they sell are safe and meet specific standards to protect consumers.