Question
In: Statistics and Probability
A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ...
A simple random sample of 50 accounts is taken from an account
receivables portfolio of XYZ Ltd and the average account balance is
$650. The population standard deviation σ is known to be $70.
a. Test the hypothesis that the population mean account
balance is greater than $620 using the p-value approach and a 0.05
level of significance.
b. Test the hypothesis that the population mean account
balance is less than $800 using the critical value approach and a
0.05 level of significance.
c. Test the hypothesis that the population mean account
balance is different from $750. using the p-value approach and a
0.05 level of significance.
Solutions
orchestra answered 1 year agoRelated Solutions
A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ...
A simple random sample of 50 accounts is taken from an account
receivables portfolio of XYZ Ltd and the average account balance is
$650. The population standard deviation σ is known to be $70.
(6 points)
Test the hypothesis that the population mean account balance is
greater
than $620 using the p-value approach
and a 0.05 level of significance.
Test the hypothesis that the population mean account balance is
less than
$800 using the critical value
approach and a 0.05...
A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ...
A simple random sample of 50 accounts is taken from an account
receivables portfolio of XYZ Ltd and the average account balance is
$650. The population standard deviation o is known to be $70. Test the hypothesis that the population mean account balance
is greater than a. $620 using the p-value approach and a 0.05 level
of significance. b. Test the hypothesis that the population mean
account balance is less than $800 using the critical value approach
and a 0.05...
A simple random sample of 40 accounts is taken from an account receivables portfolio of ABC...
A simple random sample of 40 accounts is taken from an account
receivables portfolio of ABC Ltd and the average account balance is
$750. The population standard deviation σ is known to be $80.
(6 points)
Test the hypothesis that the population mean account balance is
greater than $680 using the p-value approach and a 0.05 level of
significance.
Test the hypothesis that the population mean account balance is
less than $820 using the critical value approach and a 0.05...
1. A simple random sample of 50 customers is selected from an account receivable portfolio and...
1.
A simple
random sample of 50 customers is selected from an account
receivable portfolio and the sample mean account balance is $1000.
The population standard deviation σ is known to be
$200.
(12
marks)
a.
Construct a
95% confidence interval for the mean account balance of the
population.
b.
What is the
margin of error for estimating the mean account balance at the 95%
confidence level?
c.
Construct a
95% confidence interval for the mean account balance of the...
In a simple random sample of size 50, taken from a population, 23 of the individuals...
In a simple random sample of size 50, taken from a population,
23 of the individuals met a specified criteria.
a) What is the margin of error for a 90% confidence interval for
p, the population proportion?
Round your response to at least 3 decimal places.
b) What is the margin of error for a 95% confidence interval for
p?
Round your response to at least 3 decimal places.
The following information is taken from the records of XYZ Company: Cash $10,000 Accounts receivables 30,000...
The following information is taken from the records of XYZ
Company: Cash $10,000 Accounts receivables 30,000 Inventory 80,000
Prepaid insurance 6,000 Fixed assets 200,000 Accounts payable
30,000 Notes payable (due in 10 months) 25,000 Wages payable 5,000
Long term liabilities 70,000 Owners’ equity 196,000 The company had
sales of $150,000, cost of good sold of 60,000 and a net income of
25,000
MCQ
8-The company’s assets turnover is: A) 1 times B) 0.75 times C)
0.5 times
9. The company’s...
A simple random sample of 25 observations will be taken from a population that is assumed...
A simple random sample of 25 observations will be taken from a
population that is assumed to be normal with a standard deviation
of 37. We would like to test the alternative hypothesis that the
standard deviation is actually more than 37. If the sample standard
deviation is 40 or more, then the null hypothesis will be rejected
(this called a decision rule).
What significance level would this decision rule cause?
If the population standard deviation is really 42, what...
A simple random sample of 50 items from a population with = 6 resulted in a...
A simple random sample of 50 items from a population with = 6
resulted in a sample mean of 39. If required, round your answers to
two decimal places.
a. Provide a 90% confidence interval for the population mean.
to
b. Provide a 95% confidence interval for the population mean.
to
c. Provide a 99% confidence interval for the population
mean.
A simple random sample of 20 customers is taken from a customer information file and the...
A simple random sample of 20 customers is taken from a customer
information file and the average age is 27. The sample standard
deviation s is found to be
5.
(5 marks)
Test the hypothesis that the population mean age is less than
29 using the critical value approach and a 0.10 level of
significance.
Test the hypothesis that the population mean age is different
from 30 using the 0.05 level of significance.
A simple random sample of 20 customers is taken from a customer information file and the...
A simple random sample of 20 customers is taken from a customer
information file and the average age is 27. The sample standard
deviation s is found to be
1.5.
(5 marks)
Test the hypothesis that the population mean age is less than
29 using the critical value approach and a 0.10 level of
significance.
Test the hypothesis that the population mean age is different
from 30 using the 0.05 level of significance.
.
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