Question
In: Statistics and Probability
In a group of 66 Mummers, the average income was $62,000 with a standard deviation of...
- In a group of 66 Mummers, the average income was $62,000 with a
standard deviation of $22,000. We are interested to determine if
the average income of a Mummer is significantly different than
$50,000.
- Write the appropriate null and alternative hypotheses for the hypothesis test that is relevant to this problem.
- Find the test statistic.
- Find the critical value for α=0.05.
- What is the result of the hypothesis test? Why?
Solutions
orchestra answered 1 year agoRelated Solutions
In a group of 66 Mummers, the average income was $62,000 with a standard deviation of $22,000....
In a group of 66 Mummers, the average income was
$62,000 with a standard deviation of $22,000. We are interested to
determine if the average income of a Mummer is significantly
different than $50,000.
Write the appropriate null and alternative hypotheses for the
hypothesis test that is relevant to this problem.
Find the test statistic.
Find the critical value for α=0.05.
What is the result of the hypothesis test? Why?
Find the critical value for α=0.01.
What is the result of...
In a group of 66 Mummers, the average income was $62,000 with a standard deviation of $22,000....
In a group of 66 Mummers, the average income was
$62,000 with a standard deviation of $22,000. We are interested to
determine if the average income of a Mummer is significantly
different than $50,000.
Write the appropriate null and alternative hypotheses for the
hypothesis test that is relevant to this problem.
Find the test statistic.
Find the critical value for α=0.05.
What is the result of the hypothesis test? Why?
Find the critical value for α=0.01.
What is the result of...
For a particular group of people the average height is 70 inches and the standard deviation...
For a particular group of people the average height is 70 inches
and the standard deviation is 3.6 inches. We can assume that the
distribution is Normal (Gaussian). Answer the following questions
either via simulations (use 10000 points) or via “rule of
thumbs”.
I). What is the approximate probability that a randomly
picked person from this group will be shorter than 70 inches? Pick
the closest answer. (6.66 points)
a. About 20%
b. About 30%
c. About 50%
d. About...
A random group of 50 bowlers had an average score of 189. The standard deviation of...
A random group of 50 bowlers had an average score of 189. The
standard deviation of all bowlers in the league was 9.1. Assume the
population has a normal distribution. Find the margin of error, and
then find the 95% confidence interval for the population mean
the average income in jefferson county is $32,000 with standard deviation of $12000. what is the...
the
average income in jefferson county is $32,000 with standard
deviation of $12000. what is the probability that a randomly
selected person makes under $30,000?
The average annual income of adult Americans is $56000 with a standard deviation of $4200. Assuming...
The average annual income of adult Americans is $56000 with a
standard deviation of $4200. Assuming that the average annual
income is normal, what is the probability that a single adult
American earns more than $62000 annually. (include a normal curve
with the appropriate parameters)
The standard deviation of a portfolio: Multiple Choice is a weighted average of the standard deviations...
The standard deviation of a portfolio:
Multiple Choice
is a weighted average of the standard deviations of the
individual securities held in the portfolio.
is an arithmetic average of the standard deviations of the
individual securities which comprise the portfolio.
can never be less than the standard deviation of the most risky
security in the portfolio.
can be less than the standard deviation of the least risky
security in the portfolio.
must be equal to or greater than the lowest...
Given a normal population whose mean is 540 and whose standard deviation is 66, find each...
Given a normal population whose mean is 540 and whose standard
deviation is 66, find each of the following:
A. The probability that a random sample of 6 has a mean between
554 and 568.
Probability =
B. The probability that a random sample of 16 has a mean between
554 and 568.
Probability =
C. The probability that a random sample of 21 has a mean between
554 and 568.
Probability =
Portfolio Average Return Standard Deviation Beta A &nb
Portfolio
Average Return Standard
Deviation Beta
A
14.7%
18.6%
1.47
B
8.8
14.2
.78
C
11.2
16.0
1.22
The risk-free rate is 4.5 percent and the market risk
premium is 7 percent.
What is the Treynor ratio of a
portfolio comprised of 30 percent portfolio A, 20 percent portfolio
B, and 50 percent portfolio C?
SHOW WORK
What is the difference between standard deviation and average deviation? Which calculation is more useful for...
What is the difference between standard deviation and average
deviation? Which calculation is more useful for determining if a
data point can be omitted from a data set?
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