Question
In: Statistics and Probability
The average cost of a traffic fine is $600 this year. It's claimed that the amount...
The average cost of a traffic fine is $600 this year. It's claimed that the amount has increased. Data collected from a simple random sample of 86 people that have been fined since January, showed that the mean amount was $720. With a standard deviation of $31.75, is there enough evidence to support the claim?
a) state null and alternative hypothesis and state the claim
b) Find the standardized test statistic. Show complete formula
c) Calculate p-value. Is the null hypothesis rejected? Why?
d) Interpret the decision.
Solutions
orchestra answered 1 year agoRelated Solutions
The Vice-Chancellor of the University of the Sunshine Coast claimed that the average cost of rental...
The Vice-Chancellor of the University of the Sunshine Coast
claimed that the average cost of rental accommodation in the area
close to campus was $155 per week. The Student Guild, being
sceptical about the validity of this claim, took a random sample of
35 quotes and found that the average rental was $149.25 per week.
On the basis of advice given to them by a local real estate agent,
it could be assumed that the standard deviation of rental prices...
Miller Co. has a weighted average cost of capital of 7.5%. It's cost of equity is...
Miller Co. has a weighted average cost of capital of 7.5%. It's
cost of equity is 10% and the average yield to maturity on its
bonds is 5%. If the tax rate is 35%, what is Miller's market value
debt-equity (D/E) ratio? [Choose closest]
A. 0.370
B. 1.00
C. 0.588
D. 1.70
im trying to write a java code that take a matrix of vector and fine it's...
im trying to write a java code that take a matrix of
vector and fine it's inverse (the the inverse in linear algebra)
then multiple this matrix with a vector to fine other vector
(matrix)-1 × ( vector ) = (vector)
ABC Company is doing a project assessment and needs to know what it's weighted average cost...
ABC Company is doing a project assessment and needs to know what
it's weighted average cost of capital is for supporting its current
operations. They will adjust it from there based on risk weighting
the individual projects. The company has the following components
to its capital structure:
A. Debt 3 Components:
$10,660,000 of long term bank debt at 6.75%.
$15,000,000 par value bonds at 4.75% with 15 year maturity and a
sale price of 92% of par.
$8,750,000 par value...
Explain what is national culture and it's main deimensions. (600-650 words)
Explain what is national culture and it's main deimensions.
(600-650 words)
A random sample of 33 taxpayers claimed an average of $9,668 in medical expenses for the...
A random sample of 33 taxpayers claimed an average of $9,668 in
medical expenses for the year. Assume the population standard
deviation for these deductions was $2,415.
Construct confidence intervals to estimate the average deduction
for the population with the levels of significance shown below.
a.
1 %
b.
5 %
c.
20 %
a. The confidence interval with a 1 % level of significance has
a lower limit of $ and an upper limit of $
A random sample of 33 taxpayers claimed an average of $9,668 in medical expenses for the...
A random sample of 33 taxpayers claimed an average of $9,668 in
medical expenses for the year. Assume the population standard
deviation for these deductions was $2,415.
Construct confidence intervals to estimate the average deduction
for the population with the levels of significance shown below.
a.
1 %
b.
5 %
c.
20 %
a. The confidence interval with a 1 % level of significance has
a lower limit of $ and an upper limit of $
A random sample of 37 taxpayers claimed an average of $9,527 in medical expenses for the...
A random sample of 37 taxpayers claimed an average of $9,527 in
medical expenses for the year. Assume the population standard
deviation for these deductions was $2,380.
Construct confidence intervals to estimate the average deduction
for the population with the levels of significance shown below.
a.
5%
b.
10%
c.
20%
The confidence interval with a 5 % level of significance has a
lower limit of _and an upper limit of _
The confidence interval with a 10% level of...
Suppose it is claimed that the typical adult travels an average distance of 16 miles to...
Suppose it is claimed that the typical adult travels an average
distance of 16 miles to get to work each day. You believe this
average is too low for Columbus residents. You survey a random
sample of 98 adults from Columbus and find that your sample travels
an average distance of 17.6 miles to work each day, with a sample
standard deviation of 7.8 miles. Use this information
to conduct the appropriate hypothesis test by going through the
steps you...
The corporate CEO of "Life is Fun and Love is Strange Inc." claimed that the average...
The corporate CEO of "Life is Fun and Love is Strange Inc."
claimed that the average sales of "Fun Life" are less than "Strange
Love". In order to test the hypothesis, she asked you to conduct 2
tests. a) test the claim that the variances of the 2 stores are
equal. Use a 5% significance level. b) based on your answer, use
the appropriate test for the claim that the average sales of
"Strange Love" are greater than "Fun Life"....
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Would the voltage of a battery in circuit be larger or smaller than the voltage of...
- The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities,...
- Part 1: Explain and provide a real life business example for equivalent units. Explain the importance...
- A company produces three different type of chocolates. A, B, and C. The sales volume for...
- When considering labeling someone with a disorder it is important that we use the most up...
- 7. The director of career advising at Rutgers want to use decision analysis to provide...
- Looking for assistance with the "sketch/graph" part of the below question:Consider the following projects, X and...
ADVERTISEMENT