In: Math

# Question 3 (10 marks) This question is testing your understanding of some important concepts about hypothesis...

Question 3 This question is testing your understanding of some important concepts about hypothesis testing and confidence intervals. For each part below, answer the question (1 mark) and then succinctly explain your reasoning (1 mark). (a) We are performing a one-sample t test at the 5% level of significance where the hypotheses are 0 1 H VH :5 :5 µ µ = ≠ . The number of observations is 15. State the critical value? (b) We are performing a hypothesis test and we conclude that we reject H0 at the 5% level of significance. Will we reject the same H0 (with the same H1 ) at the 10% level of significance? (c) Suppose we are performing a hypothesis test and we conclude that we cannot reject H0 at the 5% level of significance. Can we reject the same H0 (with the same H1 ) at the 10% level of significance? (d) Suppose we are performing a two-sample proportion test at the 5% level of significance where the hypotheses are 01 2 11 2 H p p VH p p : 0: 0 −= −≠ . The calculated p-value is 0.00268. Do we reject H0 ? (e) Based on the data, we obtain (1.85, 1.95) as the 95% confidence interval for the true mean. Can we reject 0 H : 0 µ = against 1 H : 0 µ ≠ at the 5% level of significance?

## Solutions

##### Expert Solution  ## Related Solutions

##### Question 3: Hypothesis Testing about the population mean (μ)    A researcher claims that the average...
Question 3: Hypothesis Testing about the population mean (μ)    A researcher claims that the average weekly spending for lunch by commuting students in US colleges is usually higher in winter semester than the of average of $30 in the prior fall semester. To verify this claim a sample of 100 commuting students were randomly selected in spring semester and their average weekly spending was reported as$32.5. From historical experience the population standard deviation of weekly spending by commuting...
##### Question 5: Hypothesis Testing: Each question is worth 7.5 marks: Total (15 marks) A. Suppose we...
Question 5: Hypothesis Testing: Each question is worth 7.5 marks: Total A. Suppose we know the standard deviation of the population is 3.7. We have a sample size of 625. We also have a sample mean of 46. We also have a population mean of 43. We want to test the hypothesis for the sample mean with 78% confidence level and do a two-tailed test on the hypothesis. State the null and alternate hypothesis for the sample mean and then...
##### apply the statistical concepts and techniques covered in this week's reading about hypothesis testing for the...
apply the statistical concepts and techniques covered in this week's reading about hypothesis testing for the difference between two population proportions. In the previous week's discussion, you studied a manufacturing process at a factory that produces ball bearings for automotive manufacturers. The factory wanted to estimate the average diameter of a particular type of ball bearing to ensure that it was being manufactured to the factory's specifications. Recently, the factory began a new production line that is more efficient than...
##### Two key concepts in hypothesis testing are the null and the alternative hypothesis. Formulating the hypothesis...
Two key concepts in hypothesis testing are the null and the alternative hypothesis. Formulating the hypothesis test in the right manner, i.e. by correctly formulating null and alternative hypothesis is the first step towards solving the problems in the right manner. How do we represent these concepts tl (i.e. what abbreviation we use to denote null and alternative hypothesis)?
##### Please briefly discuss in your own words the key concepts of the p-value and hypothesis testing...
Please briefly discuss in your own words the key concepts of the p-value and hypothesis testing controversy learned. In a minimum of a paragraph
##### Describe why hypothesis testing is important to businesses?
Describe why hypothesis testing is important to businesses?
##### Explain the following: Concepts of Hypothesis Testing Hypotheses Test for a population mean Hypothesis test for...
Explain the following: Concepts of Hypothesis Testing Hypotheses Test for a population mean Hypothesis test for a population proportion Test of normality Chi-Square Test for Independence
##### It is important for you to demonstrate your understanding of the accounting rules and resulting journal entries that surround these concepts
It is important for you to demonstrate your understanding of the accounting rules and resulting journal entries that surround these concepts, as especially for multinational corporations, each must determine on an almost a daily basis the impact on their financial statements of these types of foreign currency-related transactions. Create your own specific and detailed example of either one of these types of foreign exchange options from the beginning of the use of an option to the end of the use...
##### what is the most important step in hypothesis testing and why
what is the most important step in hypothesis testing and why
##### Question #3 (10 Marks) One of your clients is turning 71 years old this year and,...
Question #3 One of your clients is turning 71 years old this year and, according to CRA rules, they must close their RRSP account by the end of the year. In an e-mail you inform your client of this CRA rule. You also inform the client that they now have three possible options regarding their RRSP account: Close their RRSP account and take the cash. In this scenario the individual will have to have the entire amount of their RRSP...