Expert Answer:QNT561 Phoenix Election Results And SpeedX Hypothe

  

Solved by verified expert:Assignment Steps Resources: Microsoft Excel®, Case Study Scenarios, SpeedX Payment TimesDevelop 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: SpeedXUse 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.
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speedx_payment_times.xlsx

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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).
Payment
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