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WCU ECO 252 - ECO 252 Third Exam

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TABLE 11-4TABLE 11-2TABLE 13-2SourceSS .DFMS .F .4/19/03 252y0332 ECO252 QBA2 Name KEY (Page layout view!) THIRD HOUR EXAM Hour of Class Registered (Circle) April 21 - 22, 2003I. (30+ points) Do all the following (2points each unless noted otherwise).1. Which of the following components in an ANOVA table are not additive?a) Sum of squares.b) Degrees of freedom.c) *Mean squares.d) It is not possible to tell.TABLE 11-4A campus researcher wanted to investigate the factors that affect visitor travel time in a complex, multilevel building on campus. Specifically, he wanted to determine whether different building signs (building maps versus wall signage) affect the total amount of time visitors require to reach their destination and whether that time depends on whether the starting location is inside or outside the building. Three subjects were assigned to each of the combinations of signs and starting locations, and travel time in seconds from beginning to destination was recorded. An Excel output of the appropriate analysis is given below:ANOVASource of Variation SS df MS F P-value F critSigns 14008.33 1 14008.33 0.11267 5.317645Starting Location 12288 1 12288 2.784395 0.13374 5.317645Interaction 48 1 48 0.0109 0.919506 5.317645Within 35305.33 8 4413.167Total 61649.67 11 2. Referring to Table 11-4, at 1% level of significance,a) there is insufficient evidence to conclude that the difference between the average traveling time for the different starting locations depends on the types of signs.b) there is insufficient evidence to conclude that the difference between the average traveling time for the different types of signs depends on the starting locations.c) there is insufficient evidence to conclude that the relationship between traveling time and the types of signs depends on the starting locations.d) *All of the above.Explanation: All p-values are above .01, so we do not reject the ‘no difference’ null hypothesis.4/19/03 252x0332TABLE 11-2An airline wants to select a computer software package for its reservation system. Four software packages (1, 2, 3, and 4) are commercially available. The airline will choose the package that bumps as few passengers, on the average, as possible during a month. An experiment is set up in which each package is used to make reservations for 5 randomly selected weeks. (A total of 20 weeks was included in the experiment.) The number of passengers bumped each week is obtained, which gives rise to the following Excel output:ANOVASource ofVariation SS df MS F P-value F critBetween Groups 212.4 3 8.304985 0.001474 3.238867Within Groups 136.4 8.525Total 348.8 3. Referring to Table 11-2, the between group mean squares isa) *70.8b) 212.4c) 637.2d) 8.525Explanation: 8.525 is 136.4 divided by 3.4. Referring to Table 11-2, the within groups degrees of freedom isa) 3b) 4c) *16d) 19Explanation: 525.8164.1365. Referring to Table 11-2, at a significance level of 1%,a) there is insufficient evidence to conclude that the average numbers of customers bumpedby the 4 packages are not all the same.b) there is insufficient evidence to conclude that the average numbers of customers bumpedby the 4 packages are all the same. c) *there is sufficient evidence to conclude that the average numbers of customers bumped by the 4 packages are not all the same.d) there is sufficient evidence to conclude that the average numbers of customers bumped by the 4 packages are all the same. Explanation: The null hypothesis of equal means is rejected – note the low p-value.24/19/03 252x03326. The Journal of Business Venturing reported on the activities of entrepreneurs during the organization creation process. As part of a designed study, a total of 71 entrepreneurs were interviewed and divided into 3 groups: those that were successful in founding a new firm (n1 = 34), those still actively trying to establish a firm (n2 = 21), and those who tried to start a new firm but eventually gave up (n3 = 16). The total number of activities undertaken (e.g., developed a business plan, sought funding, looked for facilities) by each group over a specified time period during organization creation was measured. The objective is to compare the mean or median number of activities of the 3 groups of entrepreneurs. The underlying distribution is not known to be Normal, nor is it likely that the columns have similar variances. Identify the method that would be used to analyze the data..a) Friedman Test for differences in medians.b) *Kruskal-Wallis Rank Test for Differences in Mediansc) One-way ANOVA F testd) Two-way ANOVAExplanation: ANOVA is not appropriate because ANOVA requires a Normal parent population and that the samples come from populations with equal variances. The Friedman test requires that the data be cross – classified, but there is no evidence that it is, especially since the columnsare of unequal length..7. The slope (b1) representsa) predicted value of Y when X = 0.0b) *the estimated average change in Y per unit change in X.c) the predicted value of Y.d) variation around the line of regression.8. The least squares method minimizes which of the following?a) SSR (Gets larger when SSE gets smaller.)b) *SSEc) SST ( This is basically the variance of our y data, we can’t really control it.)d) All of the aboveTABLE 13-2A large mail order house weighs its mail upon arrival. And would like to be able to estimate the number of orders it contains. It has data on 25 shipments giving the weight of the mail(in pounds) (in column 1)and the number of (thousands of) orders ( in column 2). The data are not shown here but you may want to know that the largest weight on the list was 652 pounds and the largest number of orders was 20.2 (thousand). Since they didn’t know what they were doing, they did 2 regressions, but only one is correct.————— 4/16/2003 1:44:21 AM ————————————————————Welcome to Minitab, press F1 for help.MTB > Retrieve "C:\Documents and Settings\RBOVE\My Documents\Drive D\MINITAB\2x0331-8.MTW".Retrieving worksheet from file: C:\Documents and Settings\RBOVE\My Documents\Drive D\MINITAB\2x0331-8.MTW# Worksheet was saved on Wed Apr 16 2003Results for: 2x0331-8.MTWMTB > regress c1 1 c234/19/03 252x0332Regression Analysis: Weight versus OrdersThe regression equation isWeight = 5.6 + 32.8 OrdersPredictor Coef SE Coef T PConstant 5.55 15.78 0.35


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