Question

In: Statistics and Probability

Suppose a company wanted to know if there was a significant in the average income of...

Suppose a company wanted to know if there was a significant in the average income of its male and female customers. Develop a null and alternate hypothesis for such a problem and give a conclusion based on the p-value results of .04. Assume you are testing at the .05 level of significance

Solutions

Expert Solution

orchestra answered 2 years ago
Next > < Previous

Related Solutions

2.      Suppose a company wanted to know if there was a significant in the average income of...
2.      Suppose a company wanted to know if there was a significant in the average income of its male and female customers.  Develop a null and alternate hypothesis for such a problem and give a conclusion based on the p-value results of .04. Assume you are testing at the .05 level of significance. 3.      A company wants to know the useful life of a new revolutionary lightbulb it has just developed.  A mean of 64 of these bulbs revealed a mean useful life of...
Suppose you wanted to estimate the average household income of all Grand Canyon University (GCU) students....
Suppose you wanted to estimate the average household income of all Grand Canyon University (GCU) students. To expedite the process, you only gather household income data from all your friends who major in business at GCU. You then calculate the average income among your friends and report that it represents the average income of all GCU students. Is this a good approach? If not, how would you gather data to derive a better estimate? Explain your answer.
Suppose we wanted to know if there is a difference in the proportion of citizens from...
Suppose we wanted to know if there is a difference in the proportion of citizens from different provinces who would support the idea of federal laws for mask wearing in public. Upon collecting some sample data we find that 34 out of 50 residents of Ontario would support such legislation, while only 28 out of 50 residents of Alberta support the idea of such laws. a.) Conduct the appropriate test of hypothesis for these data at the .05 level b.)...
Suppose we wanted to know if there is a difference in the proportion of citizens from...
Suppose we wanted to know if there is a difference in the proportion of citizens from different provinces who would support the idea of federal laws for mask wearing in public. Upon collecting some sample data we find that 34 out of 50 residents of Ontario would support such legislation, while only 28 out of 50 residents of Alberta support the idea of such laws. a.) Conduct the appropriate test of hypothesis for these data at the .05 level b.)...
If a company wanted to pay less income taxes, they would choose FIFO LIFO Weighted Average...
If a company wanted to pay less income taxes, they would choose FIFO LIFO Weighted Average Specific Identification Flag this Question Question 32 2 pts To reconcile the bank statement, which of the following amounts would be added to the bank statement balance? service charge outstanding checks deposits in transit amounts collected by the bank for the depositor's account Flag this Question Question 33 2 pts To reconcile the bank statement, which of the following amounts would be subtracted from...
A company wanted to know if there is correlation between the demands and supply, data was...
A company wanted to know if there is correlation between the demands and supply, data was collected for a nine month as follows:                     demand 20 30 40 50 60 supply 15 25 35 45 55 1-Using the formula for the sample correlation coefficient to evaluate the strength of the linear relationship. 2- Correlation Significance Test at α=0.05 T(0.05; 9 ) T(0.05; 7) T(0.025;7) T(0.025; 9) 1.833 1.895 2.365 2.262
Suppose researchers wanted to know about the prevalence of Mountain Dew consumption A study conducted in...
Suppose researchers wanted to know about the prevalence of Mountain Dew consumption A study conducted in 2018 collected data on which soft drinks Americans aged 18 to 29 years consumed in the last 4 weeks In that year , 43.60\% of respondents aged 18 to 29 years stated that they drank Mountain Dew within 4 weeks Q n 3.8 Suppose the 90%confidence interval calculate for these data was (0.406, 0.466). Which of the following would be possible 95%confidence intervals for...
3) Suppose you wanted to simulate possible profit outcomes, and you know that revenues have a...
3) Suppose you wanted to simulate possible profit outcomes, and you know that revenues have a 30% likelihood of being $2 million, 12% likelihood of being $3.5 million, 48% likelihood of being $4 million, and 10% likelihood of being $4.5 million. Furthermore, Costs have a 30% probability of being $3.25 million and a 70% probability of being $3.5 million. Using Excel, simulate 100 instances of profit. Calculate average, minimum, and maximum profits. Is 100 instances sufficient? Why or why not?
Suppose you want to know if there is a difference in the average high temperatures in...
Suppose you want to know if there is a difference in the average high temperatures in February 2019 for three different areas. you record the following temperatures randomly for the three cities. A B C 18 -11 14 23 11 23 39 12 40 8 4 21 -4 -2 12 You decide to run a one-way ANOVA test on this data. A) write down the null and research hypotheses you are testing B) What are the F- statistic and P...
The management of a soda company wanted to determine the average number of ounces of soda...
The management of a soda company wanted to determine the average number of ounces of soda consumed per resident in the state of Pennsylvania. Past trends indicate that the variation in soda consumption (σ) was 4 ounces. A 95% confidence level is required, and the error is not to exceed +/- 1/2 ounce. (a) What sample size would you recommend? Show your calculations. (b) The management wanted an estimate twice as precise as the initial precision level and an increase...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT