29. A restaurant chain has twdlocations in a medium-sized town and, believing that it has oversaturated the market for Its food, is consldering dosing one of the restaurants. The manager of the...


29. A restaurant chain has twdlocations in a medium-sized town and, believing that it has<br>oversaturated the market for Its food, is consldering dosing one of the restaurants. The<br>manager of the restaurant with a downtown location claims that his restaurant generates<br>more revenue than the sister restaurant by the freeway. The CEO of this company, wishing<br>to test this claim, randomly selects 36 monthly revenue totals for each restaurant. The revenue<br>data from the downtown restaurant have a mean of $360,000 and a standard deviation of<br>$50,000, while the data from the restaurant by the freeway have a mean of $340,000 and a<br>standard deviation of $40,000. Assume there is no reason to believe the population standard<br>deviations are equal, and let y and p denote the mean monthly revenue of the downtown<br>restaurant and the restaurant by the freeway, respectively. Which of the following is the<br>appropriate critical value(s) to test the manager's claim at the 5%significance level?<br>A. 1,645<br>B. 1.960<br>C. 1.997<br>D. 1.668<br>30. In August 2010, Massachusetts enacted a 150-day right-to-cure period that mandates that<br>lenders give homeowners who fall behind on their mortgage an extra five months to become<br>current before beginning foreclosure proceedings. Policymakers claimed that the policy would<br>result in a higher proportion of delinquent borrowers becoming current on their mortgages.<br>To test this claim, researchers took a sample of 244 homeowners in danger of foreclosure in<br>the time period surrounding the enactment of this law. Of the 100 who fell behind just before<br>the law was enacted, 30 were able to avoid foredosure, and of 144 who fell behind just after<br>the law was enacted, 48 were able to avoid foreclosure, Let p, and p2 represent the proportion<br>of delinquent borrowers who avoid foredosure just before and just after the right-to-cure law<br>is enacted, respectively. Which of the following is the appropriate p-value to verify the daim?<br>A. 0.2915<br>B. 0.5570<br>C. 0.5832<br>D. 0,7084<br>

Extracted text: 29. A restaurant chain has twdlocations in a medium-sized town and, believing that it has oversaturated the market for Its food, is consldering dosing one of the restaurants. The manager of the restaurant with a downtown location claims that his restaurant generates more revenue than the sister restaurant by the freeway. The CEO of this company, wishing to test this claim, randomly selects 36 monthly revenue totals for each restaurant. The revenue data from the downtown restaurant have a mean of $360,000 and a standard deviation of $50,000, while the data from the restaurant by the freeway have a mean of $340,000 and a standard deviation of $40,000. Assume there is no reason to believe the population standard deviations are equal, and let y and p denote the mean monthly revenue of the downtown restaurant and the restaurant by the freeway, respectively. Which of the following is the appropriate critical value(s) to test the manager's claim at the 5%significance level? A. 1,645 B. 1.960 C. 1.997 D. 1.668 30. In August 2010, Massachusetts enacted a 150-day right-to-cure period that mandates that lenders give homeowners who fall behind on their mortgage an extra five months to become current before beginning foreclosure proceedings. Policymakers claimed that the policy would result in a higher proportion of delinquent borrowers becoming current on their mortgages. To test this claim, researchers took a sample of 244 homeowners in danger of foreclosure in the time period surrounding the enactment of this law. Of the 100 who fell behind just before the law was enacted, 30 were able to avoid foredosure, and of 144 who fell behind just after the law was enacted, 48 were able to avoid foreclosure, Let p, and p2 represent the proportion of delinquent borrowers who avoid foredosure just before and just after the right-to-cure law is enacted, respectively. Which of the following is the appropriate p-value to verify the daim? A. 0.2915 B. 0.5570 C. 0.5832 D. 0,7084
Jun 11, 2022
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