Question

I am shopping for a dresser on Craigslist. I look at 30 dressers. I know the...

I am shopping for a dresser on Craigslist. I look at 30 dressers. I know the standard deviation of dresser prices is $20, and the mean cost of the dressers I look at is $80. I had been told that dressers should be $50.

(a) Write down the null and alternative hypotheses.

(b) What is the value of the test statistic?

(c) What is the p-value? Interpret this value.

(d) What is the rejection region if α = .04? (e) Interpret the result - do we accept or reject the null hypothesis.

(f) Create a 95% confidence interval for the true average cost of a dresser and interpret the confidence interval.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
3) The amount of time it takes for a grocery clerk to check out a customer...
3) The amount of time it takes for a grocery clerk to check out a customer is evenly distributed between 1 and 5 minutes. a. What kind of distribution is this? b. What is the probability that it will take more than 4 minutes to check out the customer? c. What is the probability that it will take between 2 and 4 minutes? d. What is the probability that it will take exactly 2 minutes? 4) A bank wishing to...
It is believed 30% of a city's population is interested in a new shopping center. A...
It is believed 30% of a city's population is interested in a new shopping center. A developer wants to know if this value is accurate. She commisions a survey of 407 people and finds that 140 are interested in a new shopping center. At the .05 significance level, conduct a full and appropriate hypothesis test for the developer. a) What are the appropriate null and alternative hypotheses? A H0:p^=.3H1:p^<.3 B H0:p^=.3H1:p^>.3 C H0:p=.3H1:p<.3 D H0:p^=.3H1:p^=.3 E H0:p=.3H1:p>.3 F H0:p=.3H1:p≠.3 b)...
In one of your classes, the professor told you that average GDP among industrialized countries is...
In one of your classes, the professor told you that average GDP among industrialized countries is $14,200 (14.2 in $1000s). You believe the information your professor has is incorrect and outdated, so you decide to collect your own data. The results of a sample reveal that the average GDP per capita (in $1000s) among 123 industrialized countries is calculated to be 13.6 with a standard error of .45. (a) If you hypothesize that your professor is incorrect and that average...
6.16 Is college worth it? Part I: Among a simple random sample of 331 American adults...
6.16 Is college worth it? Part I: Among a simple random sample of 331 American adults who do not have a four-year college degree and are not currently enrolled in school, 48% said they decided not to go to college because they could not afford school. (a) A newspaper article states that only a minority of the Americans who decide not to go to college do so because they cannot afford it and uses the point estimate from this survey...
I’m interested in studying the amount of student debt that Georgetown students graduate with. I take...
I’m interested in studying the amount of student debt that Georgetown students graduate with. I take a random sample of Georgetown students of size 144. The sample average of the data is $42,333 with a sample variance of $150 million. (A) (5 points) Construct an 80% confidence interval for the population mean Georgetown student debt at graduation. (B) (5 points) It is proposed by a reporting agency that the average student debt coming out of Loyola is $35,000. You believe...
I. State null and alternative hypotheses. II. Decide on the significance level, α. III. Compute the...
I. State null and alternative hypotheses. II. Decide on the significance level, α. III. Compute the value of the test statistic. IV. Determine the critical value(s). V. If the value of the test statistic falls in the rejection region, reject H0. VI. Interpret the result of the hypothesis test. Question: . A manufacturer claims that the thickness of the spearmint gum it produces is 7.5 one-hundredths of an inch. A quality control specialist regularly checks this claim. On one production...
I am being asked to complete a chi square analysis given a set of data and...
I am being asked to complete a chi square analysis given a set of data and a null and alternative hypothesis. We were asked to buy a bag of m&ms and separate them by their color and count how many of each color was in the bag. Data: Color Score Red 21 Blue 34 Orange 30 Brown 33 Yellow 14 Hypotheses: Null: An equal number of M&M's of each color are distributed into the bags. Alternative: An unequal number of...
Looking at my answers, I was am always off buy about range of .1 to .4...
Looking at my answers, I was am always off buy about range of .1 to .4 from the correct answer that is stated. I am having a really tough time trying to figure out how to get my number to be exactly like what is shown as correct so I need a little help with figuring out what I am doing wrong. Here is an example of a question I just cant seem to figure out. I'll show all my...
I appreciate you taking the time to answer my question today, please answer as many as...
I appreciate you taking the time to answer my question today, please answer as many as you can, thank you. Question 26 2 pts (CO7) A travel analyst claims that the mean room rates at a three-star hotel in Chicago is greater than $152. In a random sample of 36 three-star hotel rooms in Chicago, the mean room rate is $160 with a standard deviation of $41. At α=0.10, what type of test is this and can you support the...
A researcher is creating a new treatment protocol for Myelodysplastic Syndrome (MDS), a form of preleukemia....
A researcher is creating a new treatment protocol for Myelodysplastic Syndrome (MDS), a form of preleukemia. Following the old treatment protocol, 32% of patients with MDS will develop leukemia within 5 years of MDS diagnosis. He believes his new treatment protocol will lead to fewer MDS patients developing leukemia. He takes a random sample of 100 individuals on his new treatment protocol. Of these 100 individuals, 27 develop leukemia within 5 years of MDS diagnosis. Create a 99% confidence interval...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT