The average annual expenses on housing loans for people aged 40 and below during the year...

The average annual expenses on housing loans for people aged 40 and below during the year 2015 and 2018 is RM15745 and RM16834 respectively. Population standard deviation is known to be RM1990 in 2015 and RM2160 in 2018. Meanwhile the sample size is 200 for the year 2015 and 250 in 2018. The annual expenses on housing loan is assumed to be normally distributed.

a)
Assess at 1% significance level whether the population mean of annual expenses on housing loans in 2018 is higher than the expenses in 2015.

b)
Suppose that in 2017, a smaller scale research was conducted on 25 adults aged 40 and below. Based on the data, the sample and population standard deviation is RM3885 and RM2010 respectively. Assess at 95% level of significance if the standard deviation of annual expenses on housing loans in 2017 is different from RM2010.

Expert Solution

Let X1: Annual expenses of on housing loans for people aged 40 and below for year 2015

X2: Annual expenses of on housing loans for people aged 40 and below for year 2018

Thus it may concluded that the average loan expen for people aged 40 and belo

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