Question
In: Statistics and Probability
The following table gives the age(in years) of 36randomly selected U.S. millionaires. The sample mean ?...
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The following table gives the age(in years) of 36randomly selected U.S. millionaires. The sample mean ? = 58.53 years. Assume that the standard deviation of ages of all U.S. millionaires is 13.0 years.
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(a)Test at the 10% significance level whether the average year of all U.S. millionaires is above 55 years.
(b) What is the P-value of the hypothesis test in part (a)?
(c) Obtain a confidence interval corresponding to the hypothesis test in part (a).
(d)Does the interval in part (c) support the result in part (a)? Explain your answer.
Solutions
orchestra answered 1 year agoRelated Solutions
The following table gives the age (in years) of 36 randomly selected U.S. millionaires. The sample...
The following table gives the age (in years) of 36 randomly
selected U.S. millionaires. The sample mean x−=58.53 years. Assume
that the standard deviation of ages of all U.S. millionaires is
13.0 years.
Test at the 10% significance level whether the average year of
all U.S. millionaires is above 55 years.
What is the P-value of the hypothesis test in part (a)?
Obtain a confidence interval corresponding to the hypothesis
test in part (a).
Does the interval in part (c)...
the table gives a total U.S expenditure for health services and supplies selected years from 2000...
the table gives a total U.S expenditure for health services and
supplies selected years from 2000 and projected to 2018.
year $(billion)
2000 1264
2002 1498
2004 1733
2006 1976
2008 2227
2010 2458
2012 2746
2014 3107
2016 3556
2018 4086
a. find an exponential function model to these data, with x
equal to the number of years after 2000. b) use the model to
estimate the U.S expenditure for health services and supplies in
2020.
2.The percent of...
An economics professor randomly selected 100 millionaires in the United States. The average age of these...
An economics professor randomly selected 100 millionaires in the
United States. The average age of these millionaires was 54.8
years. The population standard deviation is known to be 7.9 years.
What is the 95% confidence interval for the mean age, of all United
States millionaires? Interpret the confidence interval.
Point Estimate: ______
Critical Value:
Margin of Error: ________
Confidence Interval:______
Interpretation:
The table below gives the age and bone density for five randomly selected women. Using this...
The table below gives the age and bone density for five randomly
selected women. Using this data, consider the equation of the
regression line, yˆ=b0+b1x, for predicting a
woman's bone density based on her age. Keep in mind, the
correlation coefficient may or may not be statistically significant
for the data given. Remember, in practice, it would not be
appropriate to use the regression line to make a prediction if the
correlation coefficient is not statistically significant.
Age
36
51...
The table below gives the age and bone density for five randomly selected women. Using this...
The table below gives the age and bone density for five randomly
selected women. Using this data, consider the equation of the
regression line, yˆ=b0+b1x, for predicting a woman's bone density
based on her age. Keep in mind, the correlation coefficient may or
may not be statistically significant for the data given. Remember,
in practice, it would not be appropriate to use the regression line
to make a prediction if the correlation coefficient is not
statistically significant. Age 36 40...
The table below gives the age and bone density for five randomly selected women. Using this...
The table below gives the age and bone density for five randomly
selected women. Using this data, consider the equation of the
regression line, yˆ=b0+b1x, for predicting a woman's bone density
based on her age. Keep in mind, the correlation coefficient may or
may not be statistically significant for the data given. Remember,
in practice, it would not be appropriate to use the regression line
to make a prediction if the correlation coefficient is not
statistically significant. Age 39 59...
The table below gives the age and bone density for five randomly selected women. Using this...
The table below gives the age and bone density for five randomly
selected women. Using this data, consider the equation of the
regression line, yˆ=b0+b1x, for predicting a woman's bone density
based on her age. Keep in mind, the correlation coefficient may or
may not be statistically significant for the data given. Remember,
in practice, it would not be appropriate to use the regression line
to make a prediction if the correlation coefficient is not
statistically significant. Age 35 41...
The table below gives the age and bone density for five randomly selected women. Using this...
The table below gives the age and bone density for five randomly
selected women. Using this data, consider the equation of the
regression line, yˆ=b0+b1xy^=b0+b1x , for predicting a woman's bone
density based on her age. Keep in mind, the correlation coefficient
may or may not be statistically significant for the data given.
Remember, in practice, it would not be appropriate to use the
regression line to make a prediction if the correlation coefficient
is not statistically significant.
AGE 29...
The table below gives the age and bone density for 12 randomly selected women. Using this...
The table below gives the age and bone density for 12 randomly
selected women. Using this data, consider the equation of the
regression line, y = b0 +
b1x, for predicting a woman's bone density
based on her age.
Age
35
33
65
68
70
55
66
Bone Density
340
345
320
313
316
320
317
Step
1. Find the estimated slope. Round your answer to
three decimal places. What does this value mean?
Answer: ____________________
Step
2....
The table below gives the age and bone density for five randomly selected women. Using this...
The table below gives the age and bone density for five randomly
selected women. Using this data, consider the equation of the
regression line,y^=b0+b1x, for predicting a woman's bone density
based on her age. Keep in mind, the correlation coefficient may or
may not be statistically significant for the data given. Remember,
in practice, it would not be appropriate to use the regression line
to make a prediction if the correlation coefficient is not
statistically significant.
Age Bone Density
38 ...
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