Question
In: Statistics and Probability
3) The Wall Street Journal reported that recipients of a bachelor degree with major in business...
3) The Wall Street Journal reported that recipients of a bachelor degree with major in business receive average starting salaries of $55,000 in 2017, with a standard deviation of $4,000. A sample of 100 salaries from business majors collected in 2018 shows a mean starting salary of $ $54,000. You are hired as a statistician to investigate whether there are salary differences for business majors in 2018 with respect to 2017. Allow for 5% error on a two tail test.
3.A) The critical value for this problem is?
3.B) The calculated a standard error is equal to?
3.C) The test statistic calculated is?
3.D) What is your decision after the test? (Accept or Reject)
3.E) What is the p-value equal to?
3.F) What is your conclusion after the test? Be specific and relate to the problem.
Solutions
orchestra answered 1 year agoRelated Solutions
3) The Wall Street Journal reported that recipients of a bachelor degree with major in business...
3) The Wall Street Journal reported that recipients of a
bachelor degree with major in business receive average starting
salaries of $55,000 in 2017, with a standard deviation of $4,000. A
sample of 100 salaries from business majors collected in 2018 shows
a mean starting salary of $ $54,000. You are hired as a
statistician to investigate whether there are salary differences
for business majors in 2018 with respect to 2017. Allow for 5%
error on a two tail test....
3) The Wall Street Journal reported that recipients of a bachelor degree with major in business...
3) The Wall Street Journal reported that recipients of a
bachelor degree with major in business receive average starting
salaries of $55,000 in 2017, with a standard deviation of $4,000. A
sample of 100 salaries from business majors collected in 2018 shows
a mean starting salary of $ $54,000. You are hired as a
statistician to investigate whether there are salary differences
for business majors in 2018 with respect to 2017. Allow for 5%
error on a two tail test....
The Wall Street Journal reported that the age at first startup for 90% of entrepreneurs was...
The Wall Street Journal reported that the age at first startup
for 90% of entrepreneurs was 29 years of age or less and the age at
first startup for 10% of entrepreneurs was 30 years of age or more.
(a) Suppose a sample of 200 entrepreneurs will be taken to learn
about the most important qualities of entrepreneurs. Show the
sampling distribution of p where p is the sample proportion of
entrepreneurs whose first startup was at 29 years of...
The Wall Street Journal reported that the age at first startup for 25% of entrepreneurs was...
The Wall Street Journal reported that the age at first startup
for 25% of entrepreneurs was 29 years of age or less and the age at
first startup for 75% of entrepreneurs was 30 years of age or more.
(a) Suppose a sample of 200 entrepreneurs will be taken to learn
about the most important qualities of entrepreneurs. Show the
sampling distribution of p where p is the sample proportion of
entrepreneurs whose first startup was at 29 years of...
QUESTION 1 The Wall Street Journal reported that the average amount of time that a French...
QUESTION 1
The Wall Street Journal reported that the average
amount of time that a French person spends eating lunch at a
restaurant is 22 minutes. Perform a hypothesis test to determine if
a difference exists between the average time an American spends
eating lunch when compared to a person from France. The following
data represents the time, in minutes, that random French and
American diners spent at lunch. Assume that the population
variances are unequal.
American
21
17
17...
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2 a) The Wall Street Journal reported in January 2018 that the
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household/personal care products by 2.9% from prices in the
previous year. If the elasticity of demand were 0.48, then we can
predict that the quantity of household products should have ______
( increased ;decreased ) by _________. Show calculation/method
here:
b). For this question, write the correct elasticity measure
below the product you think it matches best then...
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The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and...
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The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and...
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The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and...
The Wall Street Journal
reported that 33% of taxpayers with adjusted gross incomes between
$30,000 and $60,000 itemized deductions on their federal income tax
return. The mean amount of deductions for this population of
taxpayers was $17,743. Assume that the standard deviation is σ =
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a. What is the probability that a sample of taxpayers from this
income group who have itemized deductions will show a sample mean
within $227 of the population mean for each of...
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