Question

In: Statistics and Probability

Use for questions 1-6: To estimate the average amount that U.S. households donated to charity last...

Use for questions 1-6: To estimate the average amount that U.S. households donated to charity last year, a random sample of 2500 U.S. households were surveyed. Among the households in the sample, the mean amount donated to charity was $2987 with a standard deviation of $1017. 2. In 2010, the average U.S. household donated $3010 to charity. What is the alternative hypotheses that you will use to determine if the sample gives strong evidence that the average amount donated to charity among all U.S. households last year was different than in 2010. mu not equal to 3010 mu greater than 2987 mu equals 2987 mu equals 3010

Solutions

Expert Solution

Let be the true average amount that U.S households donated to charity last year .

In 2010 the average donated amount was $ 3010

Here we want to test whether  is different than $ 3010

For this testing our Hypotheses will be

Null hypothesis : is not different than $ 3010

Alternative Hypothesis: is different than $3010

vs  

So correct option is

mu not equal to 3010


Related Solutions

Test the hypothesis that the average number of T.Vs in U.S. households is less than 3....
Test the hypothesis that the average number of T.Vs in U.S. households is less than 3. Your sample consists of 100 households with a mean of 2.84 T.Vs. You know the population standard deviation to be 0.8. Your desire a level of significance of 0.05
Use the following setup to answer questions 1 – 9. SETUP: Four hundred households receive mortgage...
Use the following setup to answer questions 1 – 9. SETUP: Four hundred households receive mortgage loans from Packer Bank to buy homes. The buyers have an annual gross income of $45,000 and borrow $100,000 on a 30-year fixed rate loan of 6 percent. The annual real estate taxes and annual homeowners insurance premiums are $2,400 and $900, respectively. The borrowers also receive guarantees from the Federal Housing Administration (FHA). Packer Bank securitizes all the loans and sells them as...
The operations manager of a large production plant would like to estimate the average amount of...
The operations manager of a large production plant would like to estimate the average amount of time workers take to assemble a new electronic component. After observing a number of workers assembling similar devices, she estimates that the standard deviation is 0.25 hour. How large a sample of workers should she select if she wishes to estimate the mean assembly time to within 3.2 minutes at the 98% confidence level?
The operations manager of a large production plant would like to estimate the average amount of...
The operations manager of a large production plant would like to estimate the average amount of time workers take to assemble a new electronic component. After observing a number of workers assembling similar devices, she guesses that the standard deviation is 10 minutes. How large a sample of workers should she take if she wishes to estimate the mean assembly time to within 20 seconds. Assume the confidence level to be 97%.
You are trying to estimate the average amount a family spends on food during a year....
You are trying to estimate the average amount a family spends on food during a year. In the past the standard deviation of the amount a family has spent on food during a year has been approximately $1000. If you want to be 99% sure that you have estimated average family food expenditures within (error) $50, how many families do you need to survey? Round your answer to a whole number
The Chamber of Commerce of Tampa Bay, Florida, would like to estimate the average amount of...
The Chamber of Commerce of Tampa Bay, Florida, would like to estimate the average amount of money spent by a visitor in Florida with 95% confidence. Assume that the underlying distribution is normal and the standard deviation is $200. What sample size would be necessary for the Chamber of Commerce to meet its objective in estimating this average amount if population mean is within $20 of the sample mean?
A study is run to estimate the average number of toilet paper rolls a typical U.S....
A study is run to estimate the average number of toilet paper rolls a typical U.S. household currently have. Say a sample of 10 households is selected last month and they reported the number of toilet paper (in rolls) as follows.                        75         56        50        94        65       111      97        88            103        98 Assume the average amount of toilet paper a household usually have is 55 rolls at national level. Test whether the mean number of toilet paper rolls in this sample is significantly different from the national level? Use...
It is believed that the average amount of money spent per U.S. household per week on...
It is believed that the average amount of money spent per U.S. household per week on food is about $98, with standard deviation $10. A random sample of 100 households in a certain affluent community yields a mean weekly food budget of $100. We want to test the hypothesis that the mean weekly food budget for all households in this community is higher than the national average. Are the results significant at the 5% level? a) No, we should fail...
1. In a study of vehicle ownership, it has been found that 30% of U.S. households...
1. In a study of vehicle ownership, it has been found that 30% of U.S. households do not own a vehicle, with 46% owning 1 vehicle, and the remaining owning 2 or more vehicles. The data for a random sample of 192 households in a resort community are as follows: 57 owned 0 vehicles, 104 owned 1 vehicle, and the remaining owned 2 or more vehicles. When testing (at the 5% level of significance) whether the vehicle-ownership distribution in this...
6. Answer the following questions. 1) The standard deviation of market portfolio is 20%. The average...
6. Answer the following questions. 1) The standard deviation of market portfolio is 20%. The average risk aversion coefficient is 3. Risk free interest rate is 3%. Calculate the expected return of market portfolio at equilibrium. 3) Following 1) and 2), according to CAPM, calculate the expected returns of two stocks with betas equal to 0.6 and 1.2 respectively. 2) Following 1), There is an investor with mean-variance utility function ? = ?(? ) − FINA305 ? 2 ??? ....
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT