Question

In: Statistics and Probability

Instructions: Round all your math steps to two decimal places just like I have been doing...

Instructions: Round all your math steps to two decimal places just like I have been doing in class.

Consider the following hypothesis test:

H0: µ ≤ 25

Ha: µ > 25

A sample of 40 provided a sample mean of 26.4. The population standard deviation is 6.

a. Compute the value of the test statistic. (Round to two decimal places). Answer

b. What is the p-value? (Round to four decimal places). Answer

c. At α=0.01, what is your conclusion? Answer Choices (Reject the null) or (do not reject the null hypothesis).

Solutions

Expert Solution

Solution :

Given that,

Population mean = = 25

Sample mean = = 26.4

Population standard deviation = = 6

Sample size = n = 40

Level of significance = = 0.01

This is a right tailed test.

a.

The test statistics,

Z = ( - )/ (/)

= (26.4 - 25 ) / ( 6 / 40)

= 1.48

b.

P-value = P(Z > z )

= 1 - P(Z < 1.48)

= 1 - 0.9306

= 0.0694

c.

Do not reject the null hypothesis.

The p-value is p = 0.0694, and since p = 0.0694 ≥ 0.01, it is concluded that the null hypothesis is fails to reject.

It is concluded that the null hypothesis Ho is not rejected. Therefore, there is not enough evidence to claim that the population

mean μ is greater than 25, at the 0.01 significance level.


Related Solutions

** Round all answers to two decimal places. can you please show the work so i...
** Round all answers to two decimal places. can you please show the work so i can understand** Part I - Use CVP to Plan Profits Nottingham News Company has the rights to sell and deliver the city newspaper in a designated area in the country. A monthly subscription sells for $30.00 and Nottingham News pays $10.00 per month for each newspaper subscription. In addition to this variable cost, Nottingham News has fixed costs of $3,000 per month. Nottingham News...
In doing the calculations, round to two decimal places. 1. Given the following currency exchange rates:...
In doing the calculations, round to two decimal places. 1. Given the following currency exchange rates: Time period 1: Sw F 1.55/US$ Time period 2: Sw F 1.35/US$ a.From time period 1 to time period 2, Sw F has depreciated in value relative to US$. A)True B)False b.From time period 1 to time period 2, US$ has appreciated in value relative to Sw F. A)True B)False c.In time period 1, if the price of Product A was Sw F 16,500,...
In doing the calculations, round to two decimal places. 1. Given the following currency exchange rates:...
In doing the calculations, round to two decimal places. 1. Given the following currency exchange rates: Time period 1: Sw F 1.55/US$ Time period 2: Sw F 1.35/US$ a.From time period 1 to time period 2, Sw F has depreciated in value relative to US$. A)True B)False b.From time period 1 to time period 2, US$ has appreciated in value relative to Sw F. A)True B)False c.In time period 1, if the price of Product A was Sw F 16,500,...
1.In doing the calculations, round to two decimal places. Given the following currency exchange rates: Time...
1.In doing the calculations, round to two decimal places. Given the following currency exchange rates: Time period 1: AUD$ 1.15/CHF Time period 2: AUD$ 1.55/CHF a.From time period 1 to time period 2, CHF has depreciated or appreciated relative to AUD$. A)depreciated B)appreciated b.From time period 1 to time period 2, AUD$ has appreciated or appreciasted relative to CHF. A)depreciated B)appreciated c.In time period 1, if the price of Product A was CHF 39,500, then its price in AUD$ should...
Solve ΔABC. (Round your answers to two decimal places. If there is no solution, enter NO...
Solve ΔABC. (Round your answers to two decimal places. If there is no solution, enter NO SOLUTION.) α = 47.16°,    a = 5.04,    b = 6.17 smaller c: c = β = ° γ = larger c: c = β = ° γ =
Calculate the stock's expected return. Round your answer to two decimal places 13.6 %
Problem 8-1 Expected return A stock's returns have the following distribution: a. Calculate the stock's expected return. Round your answer to two decimal places 13.6 % b. Calculate the stock's standard deviation. Do not round intermediate calculations. Round your answer to two decimal places.c. Calculate the stock's coefficient of variation. Round your answer to two decimal places. 
Determine the value z* that satisfies the conditions below. (Round all answers to two decimal places.)...
Determine the value z* that satisfies the conditions below. (Round all answers to two decimal places.) (a) Separates the largest 3.2% of all z values from the others z* =   (b) Separates the largest 0.8% of all z values from the others z* =   (c) Separates the smallest 5.6% of all z values from the others z* = (d) Separates the smallest 12.1% of all z values from the others z* =
Given are five observations for two variables, x and y. (Round your answers to two decimal places.)
Given are five observations for two variables, x and y. (Round your answers to two decimal places.) xi 1 2 3 4 5 yi 3 8 6 10 15 (a) Use sŷ* = s 1 n + (x* − x)^2 / Σ(xi − x)^2 to estimate the standard deviation of ŷ* when x = 5. (b) Use Sŷ* ± tα/2sŷ* to develop a 95% confidence interval for the expected value of y when x = 5. ____to____ (c) Use spred...
Calculate the sum of squares of experimental error. Please round your answer to two decimal places.
Consider the following table: SS DF MS F Among Treatments 1916.25       Error ? 12 263.24 Total   19 Step 1 of 8: Calculate the sum of squares of experimental error. Please round your answer to two decimal places. Step 2 of 8: Calculate the degrees of freedom among treatments. Step 3 of 8: Calculate the mean square among treatments. Please round your answer to two decimal places. Step 4 of 8: Calculate the F-value. Please round your answer to two decimal...
Calculate the expected rate of return for Stock J. Round your answer to two decimal places....
Calculate the expected rate of return for Stock J. Round your answer to two decimal places.   % Calculate the standard deviation for the market. Round your answer to two decimal places.   % Calculate the standard deviation for Stock J. Round your answer to two decimal places.   % Probability rM rJ 0.3 16% 22% 0.4 10 3 0.3 17 13 Probability rM rJ 0.3 16% 22% 0.4 10 3 0.3 17 13
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT