QNT561 University of Phoenix One Sample Hypothesis Testing Cases Purpose of Assignment The purpose of this assignment is to develop students’ abilities to

QNT561 University of Phoenix One Sample Hypothesis Testing Cases Purpose of Assignment

The purpose of this assignment is to develop students’ abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable.

Assignment Steps

Resources: Microsoft Excel®, Case Study Scenarios, SpeedX Payment Times

Develop a 700- to 1,050-word statistical analysis based on the Case Study Scenarios and SpeedX Payment Times.

Include answers to the following:

Case 1: Election Results

Use 0.10 as the significance level (α).
Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state.

Case 2: SpeedX

Use 0.10 and the significance level (α).
Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable.

Format your assignment consistent with APA format.

Submit your assignment. Case Study – Election Results and SppedX
QNT/561 Version 9
University of Phoenix Material
Case Study – Election Results
When an election for political office takes place, the television networks cancel regular programming and
instead, provide election coverage. When the ballots are counted, the results are reported. However, for
important offices such as president or senator in large states, the networks actively compete to see which
will be the first to predict a winner. This is done through exit polls, wherein a random sample of voters
who exit the polling booth is asked for whom they voted. From the data, the sample proportion of voters
supporting the candidates is computed. Hypothesis testing is applied to determine whether there is
enough evidence to infer the leading candidate will garner enough votes to win.
Suppose in the exit poll from the state of Florida during the 2000 year elections, the pollsters recorded
only the votes of the two candidates who had any chance of winning: Democrat Al Gore and Republican
George W. Bush. In a sample of 765 voters, the number of votes cast for Al Gore was 358 and the
number of votes cast for George W. Bush was 407. The network predicts the candidate as a winner if he
wins more than 50% of the votes. The polls close at 8:00 P.M. Based on the sample results, conduct a
one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican
candidate George W. Bush will win the state. Use 0.10 as the significance level (α).
Case Study – SpeedX
SpeedX, a large courier company, sends invoices to customers requesting payment within 30 days. The
bill lists an address, and customers are expected to use their own envelopes to return their payments.
Currently, the mean and standard deviation of the amount of time taken to pay bills are 24 days and 6
days, respectively. The chief financial officer (CFO) believes including a stamped self-addressed
envelope would decrease the amount of time. She calculates the improved cash flow from a 2-day
decrease in the payment period would pay for the costs of the envelopes and stamps. You have an MBA
from the University of Phoenix, and work for SpeedX as a business analyst. One of your job duties is to
run analytics and present the results to the senior management for critical decision-making. You see this
as an opportunity to utilize some of the skills you gained in the Statistics course. Because of your strong
understanding and background in inferential statistics, you decide to take up this important assignment.
You have learned any analysis in inferential statistics starts with sampling. To test the CFO’s belief, you
decide to randomly select 220 customers and propose to include a stamped self-addressed envelope with
their invoices. The CFO accepts your proposal and allows you to run a pilot study. You then record the
numbers of days until payment is received. Using your statistical expertise and skills you gained in the
class, conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude that
the plan will be profitable. Use 0.10 and the significance level (α).
Copyright © 2017 by University of Phoenix. All rights reserved.
1
Payment
27
24
14
39
13
31
26
33
13
23
17
24
18
34
13
23
16
32
30
29
21
19
22
14
27
20
11
20
30
24
18
21
24
18
27
27
27
21
22
23
18
17
23
26
20
20
22
21
13
36
18
25
26
19
16
28
16
20
16
14
25
14
35
17
16
19
19
17
18
22
23
22
27
23
23
21
20
18
29
32
27
15
21
26
32
20
29
25
15
21
30
24
23
14
18
22
37
24
35
29
24
17
27
15
19
12
19
21
19
21
15
17
20
21
31
19
27
19
26
26
26
23
12
20
34
21
24
20
21
16
23
13
19
18
31
29
23
28
19
19
22
24
21
23
14
25
17
22
21
18
22
15
27
14
23
25
24
24
17
16
30
24
17
27
24
17
10
25
15
13
29
21
22
11
25
30
23
18
19
18
14
21
22
17
19
23
31
26
25
15
16
28
27
22
12
25
12
21
19
26
16
21
30
16
25
13
11
13
22
28
14
21
30
19
14
31
9
14
21
28

Purchase answer to see full
attachment