18. Mayors' Salaries: The average salary of mayors of Canada's cities is reported to be equal...

18. Mayors' Salaries: The average salary of mayors of Canada's cities is reported to be equal to $120,000. To test this claim, 5 Canadian cities are selected and it is found that the average salary is $132,389. Assume the population standard deviation is $12,121. Using α = 0.05, test the claim that the reported salary is incorrect.

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orchestra answered 2 years ago

The average salary for graduates entering the actuarial field is $40,000. If the salaries are normally...

The average salary for graduates entering the actuarial field is $40,000. If the salaries are normally distributed with a standard deviation of $5000, find the probability that a group of nine graduates will have a group average over $45,000. Part A: Complete Z curve sketch: Part B: Calculate Z formula: Part C: Determine probability:

The average teacher’s salary in Connecticut is $57,337. Suppose that the distribution of salaries is normal...

The average teacher’s salary in Connecticut is $57,337. Suppose that the distribution of salaries is normal with a population standard deviation of $7500. (a) What is the probability that a randomly selected teacher makes less than $56,000 per year? (b) If we sample 100 teachers’ salaries, what is the probability that the sample mean is less than $56,000?

18. The average teacher’s salary in New Jersey is $50,174. Suppose that the distribution isnormal with...

18. The average teacher’s salary in New Jersey is $50,174. Suppose that the distribution isnormal with standard deviation equal to $4500. What is the probability that a randomly selected teacher makes less than $51,000? __________________ 19. If we sample 100 teachers’ salaries, what is the probability that the sample mean is less than $51,000? (Use the information in #18 to assist you.) __________________ 20. If we sample 500 teachers’ salaries, what is the probability that the sample mean is between...

Recently, ESPN reported that the average salary of an NFL place-kicker is $1.9 million, while the...

Recently, ESPN reported that the average salary of an NFL place-kicker is $1.9 million, while the average salary for an NFL running back is only $1.7 million. This statistic was cited as evidence that, in the current NFL, running backs are considered less valuable than place-kickers. The claim being made based on this statistic is misleading. In what way? (Hint: Teams have 1 place-kicker and, usually, 5 or 6 running backs, one of whom is their lead back.)

Why do cities exist? Discuss the following assumption eliminate the possibility of cities. 1. equal productivity...

Why do cities exist? Discuss the following assumption eliminate the possibility of cities. 1. equal productivity 2. constant returns to scale in exchange 3. constant return to scale in production.

A study was conducted to determine if the salaries of librarians from two neighboring cities were...

A study was conducted to determine if the salaries of librarians from two neighboring cities were equal. A sample of 15 librarians from each city was randomly selected. The mean from the first city was $28,900 with a standard deviation of $2300. The mean from the second city was $30,300 with a standard deviation of $2100. Construct a 95% confidence interval for mu 1 - mu 2.

The Company collected a sample of the salaries of its employees. There are 70 salary data...

The Company collected a sample of the salaries of its employees. There are 70 salary data points summarized in the frequency distribution below: Salary Number of Employees 5,001–10,000 8 10,001–15,000 12 15,001–20,000 20 20,001–25,000 17 25,001–30,000 13 Find the standard deviation. Find the variance.

Canada's annual rate of inflation is equal to 1.6% per year, while the annual inflation rate...

Canada's annual rate of inflation is equal to 1.6% per year, while the annual inflation rate for Czech is 2.4% per year. If the nominal short term interest rate in Canada is 1%, while it is 0.25% in Czech. What are the real interest rates in these two countries? 1) 2.6% in Canada, 2.65% in Czech 2) -0.5906% in Canada, -2.0996% in Czech 3) -0.6% in Canada, -2.15% in Czech 4) 2.62% in Canada, 2.66% in Czech

A sample of starting salaries for bachelor degree level graduates in two different cities showed the...

A sample of starting salaries for bachelor degree level graduates in two different cities showed the following: City 1 City 2 n sample count 35 30 xbar sample average 60,000 58,000 s sample standard deviation 5,000 6,000 We do not know any population means or population standard deviations. Using alpha = .01 test whether the population average starting salaries are different.

2)A study was conducted to determine if the salaries of librarians from two neighboring cities were...

2)A study was conducted to determine if the salaries of librarians from two neighboring cities were equal. A sample of 15 librarians from each city was randomly selected. The mean from the first city was $28,900 with a standard deviation of $2300. The mean from the second city was $30,300 with a standard deviation of $2100.Construct a 95% confidence interval for μ1-μ2. A) Hypothises : B) Critical value (t-critical) : C) Test statistic t-stat and the decision about the test...

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