Question

In: Statistics and Probability

Problem 5 a) Suppose that, in a random sample of 40 accounting students who had their...

Problem 5

a) Suppose that, in a random sample of 40 accounting students who had their second co-op term in W19, the sample mean and hourly wage and standard deviation were $20.10 and $3.15, respectively. Calculate a 95% confidence interval for the mean hourly wage of all accounting students with a second co-op term in W16. Interpret your interval.

b) Suppose that based on historic data accounting students on their first co-op term typically earn an average of $17.84 per hour. Does the data collected in part a) suggest that accounting students in their second co-op earn on average more than those on their first co-op? Perform a hypothesis test at a 10% level of significance to test this. Clearly state your conclusion.

Solutions

Expert Solution


Related Solutions

In a local university, 40% of the students live in the dormitories. A random sample of...
In a local university, 40% of the students live in the dormitories. A random sample of 80 students is selected for a particular study. The probability that the sample proportion (the proportion living in the dormitories) is at least 0.30 is Select one: a. 0.0336 b. 0.9664 c. 0.9328 d. 0.4664
A random sample of 40 students has a mean annual earnings of $3120
A random sample of 40 students has a mean annual earnings of $3120. Assume the population standard deviation, σ, is $677. (Section 6.1) • Construct a 95% confidence interval for the population mean annual earnings of students.  Margin of error, E._______  Confidence interval: _______ <μ< _______ • If the number of students sampled was reduced to 25 and the level of confidence remained at 95%, what would be the new error margin and confidence interval? Margin of error, E._______  Confidence interval: _______ <μ< _______ • Did the...
A random sample of 40 students is collected and the number of credit hours taken is...
A random sample of 40 students is collected and the number of credit hours taken is recorded. The sample mean is computed to be 12.5 hours with a standard deviation of 3 hours. Construct a 95% confidence interval for the mean credit hours taken. Follow 4-step procedure.
Suppose there are 54% female students on CMU campus. A random sample of 100 students was...
Suppose there are 54% female students on CMU campus. A random sample of 100 students was obtained. What is the probability there will be equal to or more than 58 female students?
A random sample of 40 students taken from a university showed that their mean GPA is...
A random sample of 40 students taken from a university showed that their mean GPA is 2.94 and the standard deviation of their GPAs is .30. Construct a 99% confidence interval for the mean GPA of all students at this university
1. A random sample of 40 college student students shows that the score of a College...
1. A random sample of 40 college student students shows that the score of a College Statistics is normally distributed with its mean, 81 and standard deviation, 8.4. Find 99 % confidence interval estimate for the true mean.
For a simple random sample of 40 items, }x 5 25.9 and s 5 4.2. At...
For a simple random sample of 40 items, }x 5 25.9 and s 5 4.2. At the 0.01 level of significance, test H0: ? 5 24.0 versus H1: ? ? 24.0. Obtain the critic t Obtain calculated t statistic Conclude; is the null rejected or failed to be rejected
USING R : A random sample of 40 students took an SAT preparation course prior to...
USING R : A random sample of 40 students took an SAT preparation course prior to taking the SAT. The sample mean of their quantitative SAT scores was 560 with a s.d. of 95, and the sample mean of their verbal SAT scores was 525 with a s.d. of 100. Suppose the mean scores for all students who took the SAT at that time was 535 for the quantitative and 512 for the verbal. Do the means for students who...
A random sample of 28 students at a particular university had a mean age of 22.4...
A random sample of 28 students at a particular university had a mean age of 22.4 years. If the standard deviation of ages for all university students is known to be 3.1 years ,Find a 90% confidence interval for the mean of all students at that university.
1. A random sample of 28 students at a particular university had a mean age of...
1. A random sample of 28 students at a particular university had a mean age of 22.4 years. If the standard deviation of ages for all university students is known to be 3.1 years,Find a 90% confidence interval for the mean of all students at that university. SHOW WORK
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT