Question
In: Math
annual income for Americans in 2012. Use the data set to answer the following questions: Hint:...
annual income for Americans in 2012. Use the data set to answer the following questions: Hint: Use Excel
Data set
income (in dollars)
| 45000 |
| 21750 |
| 18750 |
| 37500 |
| 100000 |
| 120000 |
| 27500 |
| 67500 |
| 55000 |
| 100000 |
| 27500 |
| 18750 |
| 67500 |
| 120000 |
| 55000 |
| 55000 |
| 21750 |
| 13750 |
| 55000 |
| 2000 |
| 67500 |
| 140000 |
| 55000 |
| 45000 |
| 82500 |
| 13750 |
| 23750 |
| 67500 |
| 100000 |
| 21750 |
| 37500 |
| 45000 |
| 45000 |
| 82500 |
| 82500 |
| 175000 |
| 120000 |
| 67500 |
| 2000 |
| 45000 |
| 18750 |
| 32500 |
| 4500 |
| 13750 |
| 5500 |
| 32500 |
| 45000 |
| 18750 |
| 100000 |
| 16250 |
| 13750 |
| 21750 |
| 45000 |
| 37500 |
| 18750 |
| 67500 |
| 27500 |
| 82500 |
| 45000 |
| 55000 |
| 11250 |
| 37500 |
| 27500 |
| 23750 |
| 82500 |
| 45000 |
| 37500 |
| 55000 |
| 67500 |
| 120000 |
- Formulate the null and alternative hypotheses that can be used to test the assumption that the average American annual income is $42,500.
Ho = 42500
Ha ≠ 42500
- Compute the value of the test statistic.
- What is the p-value?
- At α = .05, what is the critical value?
- At α = .05, what is your conclusion? Briefly justify your answer.
- Compute a 95% confidence interval for the population mean. Does it support your conclusion?
Solutions
Expert Solution
Here we have data:
2000,2000,4500,5500,11250,13750,13750,13750,13750,16250,18750,18750,18750,18750,18750,21750,21750,21750,21750,23750,23750,27500,27500,27500,27500,32500,32500,37500,37500,37500,37500,37500,45000,45000,45000,45000,45000,45000,45000,45000,45000,55000,55000,55000,55000,55000,55000,55000,67500,67500,67500,67500,67500,67500,67500,82500,82500,82500,82500,82500,100000,100000,100000,100000,120000,120000,120000,120000,140000,175000
Here we are using "R" for calculation:
milcah answered 2 years agoRelated Solutions
Use the following data to answer the following questions; A. Calculate nominal GDP in 2012 and...
Use the following data to answer the following questions; A.
Calculate nominal GDP in 2012 and 2013 B. Calculate real GDP in
2012 and 2013 (make 2012 the base year) Quantities 2012 2013 Apples
70 160 Oranges 90 220 Prices 2012 2013 Apples $.50 $1 Oranges $.25
$2
The BLS reported the following CPI data.
What is the rate of deflation between June 2008 and
2009? (Even though the price level fell, you still work the problem
the same)
June...
Refer to Eli Lilly’s 2012 annual report to answer the following questions. The 2012 annual report...
Refer to Eli Lilly’s 2012 annual report to answer the following
questions. The 2012 annual report of Eli Lilly & Company can be
found here:
http://www.sec.gov/Archives/edgar/data/59478/000005947813000007/lly-20121231x10k.htm
How much of the 2012 accounts receivable balance does
the company expect to collect?
What is the percentage of “other receivables” to total
current assets at the end of 2012? Round to the nearest whole
percentage.
What is included in the “other receivables”
balance?
Use the following data set – Pain Relief Study - to answer this series of questions....
Use the following data set – Pain Relief Study - to answer this
series of questions.
Participant
Before Treatment
After Treatment
1
90
80
2
70
50
3
60
60
4
90
70
5
70
60
6
50
40
7
70
60
Patients in a drug trial rate their pain before treatment and
after treatment. Higher scores equate to higher levels of reported
pain with a maximum possible score of 100.
11.1 Calculate MD for the Pain Relief Study
11.2...
5. Use the data set given below to answer these questions: (24 marks) Income 52.1 49.3...
5. Use the data set given below to answer these questions:
Income
52.1 49.3 48.9 44.4 53.5 48.0
49.2 50.6 53.2 43.7 46.9 45.5
50.1 48.1 52.7 49.5 44.5 52.0
51.1 54.9 54.0 54.2 44.2 47.2
51.9 52.8 52.3 53.6 44.2 38.4
a. What is the sample mean of the variable Income?
b. What is the sample median the variable Income?
c. Find the range of Income.
d. Find the sample standard deviation of Income.
e. Compute the first and...
5. Use the data set given below to answer these questions: (24 marks) Income 52.1 49.3...
5. Use the data set given below to answer these questions:
Income
52.1 49.3 48.9 44.4 53.5 48.0
49.2 50.6 53.2 43.7 46.9 45.5
50.1 48.1 52.7 49.5 44.5 52.0
51.1 54.9 54.0 54.2 44.2 47.2
51.9 52.8 52.3 53.6 44.2 38.4
a. What is the sample mean of the variable Income?
b. What is the sample median the variable Income?
c. Find the range of Income.
d. Find the sample standard deviation of Income.
e. Compute the first and...
Use the following set of Data Management final examination scores to answer the questions below: 92,...
Use the following set of Data Management final examination
scores to answer the questions below:
92, 48, 83, 62, 76, 64, 81, 98, 70, 70, 55, 83, 46, 79, 70, 97,
91, 53, 86, 89
a. Determine the mean, median, mode, range, and standard
deviation.
b. Find Q1 and Q3 and state the IQR. Determine if there are any
outliers.
c. Construct a box and whisker plot (by hand or using
technology).
d. Construct a histogram. Describe the shape of...
Given the data set below, use it to answer the following questions: 10, 20, 30, 40,...
Given the data set below, use it to answer the following
questions:
10, 20, 30, 40, 50
a. Find the standard deviation
b. Add 5 to each data set value and find the standard
deviation.
c. Subtract 5 from each value and find the standard
deviation.
d. Multiply by 5 on each value and find the standard
deviation.
e. Divide by 5 on each value and find the standard
deviation.
f. Generalize the results in parts a-e.
Use the following data to answer the questions below:
Use the following data to answer the
questions below: Q
VC
MC
AVC
1
$10
___
___
2
16
___
___
3
20
___
___
4
25
___
___
5
31
___
___
6
38
___
___
7
46
___
___8
55
___
___9
65
___
___ a. Calculate the marginal cost and
average variable cost for each level of production.b. How much would the firm produce if
it could sell its product for...
Use the following to answer questions a-d: In an August 2012 Gallup survey of 1,012 randomly...
Use the following to answer questions a-d: In an August 2012
Gallup survey of 1,012 randomly selected U.S. adults (age 18 and
over), 53% said that they were dissatisfied with the quality of
education students receive in kindergarten through grade 12. Test,
at the 5% level, if this sample provides evidence that the
proportion of Americans who are dissatisfied with education in
kindergarten through grade 12 differs significantly from 50%.
a. State the null and alternative hypothesis.
b. Verify that...
Use the following table to answer the questions below. Country GDP in 2012 GDP in 2013...
Use the following table to answer the questions below.
Country
GDP in 2012
GDP in 2013
Population in 2013
United States
16,244,575
16,724,272
316,438,601
Mexico
1,177,398
1,327,021
118,818,228
United Kingdom
2,476,665
2,489,674
63,395,574
Kenya
40,697
45,311
44,037,656
Note that GDP numbers are presented in millions (add six zeros
on to each of the reported numbers).
1. Calculate the GDP growth rate for each country between 2012
and 2013. Round to one decimal place.
US:
Mexico:
UK:
Kenya:
2. Calculate GDP...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Write a Java Program using the following instruction: Create the following 3 methods that calculate and...
- How would the S/D curves shift if a $3 tax was imposed on suppliers for each...
- Why should a time-based authentication system invalidate the current password on a successful authentication?
- Explain the difference between a market penetration strategy and a market development strategy.
- QUESTION 4 Discuss the sanctity of life versus the quality of life debate as presented by...
- 0.560 g He, 20.482 g F2, and 13.960 g Ar are placed in a 18.4-L container...
- Let X ∼ Pois(4), Y ∼ Pois(12), U ∼ Pois(3) be independent random variables. a) What...
ADVERTISEMENT