Question

(19) The life insurance industry maintains that the average worker in Saskatoon has no more than...

  1. (19) The life insurance industry maintains that the average worker in Saskatoon has no more than $25,000 of personal life insurance. You believe it is higher. You sample 100 workers in Saskatoon at random and find the sample average to be $26,650 of personal life insurance. The population standard deviation is known to be $12,000. Use α=0.05 throughout.
  1. (6) Test your belief using a significance level of 5%.
  2. (6) Explain, in the context of this question, what is meant by a Type I error, a Type II error, and the power of the test?
  3. (5) If the true average for this population is in fact $30,000, what is the probability of committing a Type II error?
  4. (2) Calculate the power of the test.
Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

thank you

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
The average retirement age for a certain country was reported to be 56.3 years according to...
The average retirement age for a certain country was reported to be 56.3 years according to an international group dedicated to promoting trade and economic growth. With the pension system operating with a​ deficit, a bill was introduced by the government during the summer to raise the minimum retirement age from 60 to 62. Suppose a survey of 50 retiring citizens is taken to investigate whether the new bill has raised the average age at which people actually retire. Assume...
The average retirement age for a certain country was reported to be 57.8 years according to...
The average retirement age for a certain country was reported to be 57.8 years according to an international group dedicated to promoting trade and economic growth. With the pension system operating with a? deficit, a bill was introduced by the government during the summer to raise the minimum retirement age from 60 to 62. Suppose a survey of 35 retiring citizens is taken to investigate whether the new bill has raised the average age at which people actually retire. Assume...
A major automobile company claims that its New electric powered car has an average range of...
A major automobile company claims that its New electric powered car has an average range of more that 100 miles. A random sample of 50 new electric cars was selected to test the claim. Assume that the population standard deviation is 12 miles. A 5% level of significance will be used for the test. A) What would be the consequences of making a Type II error in this problem? B) Compute the Probability of making a Type II error if...
1)You are conducting a study to see if the average female life expectancy is significantly more...
1)You are conducting a study to see if the average female life expectancy is significantly more than 93. If your null and alternative hypothesis are: H 0 : μ ≤ 93 H 1 : μ > 93 Then the test is: two tailed right tailed left tailed 2) If your null and alternative hypothesis are: H0:μ=40H0:μ=40 H1:μ>40H1:μ>40 Then the test is: right tailed two tailed left tailed 3) Below is a hypothesis test set up by a student who recently...
A vending machine is designed to discharge at least 275mL of drink per cup on average....
A vending machine is designed to discharge at least 275mL of drink per cup on average. A number of customers complain that this is not the case and they are getting less than this amount. In response to the complaints, a random sample of 30 cups is taken in order to conduct an appropriate hypothesis test for the population mean, using a 5% level of significance. (Note: Assume that the population standard deviation is 14mL.) Calculate the probability of Type...
Suppose you want to determine whether the average values for populations 1 and 2 are different,...
Suppose you want to determine whether the average values for populations 1 and 2 are different, and you randomly gather the following data. sample 1 2, 11, 7, 8, 2, 5, 9, 1, 9, 1, 5, 8, 11, 2, 5, 5, 6, 9 sample 2 10, 12, 8, 12, 9, 12, 9, 7, 9, 10, 11, 10, 11, 10, 7, 8, 10, 10 Test your conjecture, using a probability of committing a Type I error of .01. Assume the population...
A construction firm thinks that it is receiving 100 steel pipes with an average tensile strength...
A construction firm thinks that it is receiving 100 steel pipes with an average tensile strength of 10,000 pounds per square inch(lbs p.s.i.).This is the mean,μ.The size of the sample was n=100.The firm also knows that the population standard deviation,sigma,σ,is 400 p.s.i.The firm chooses a confidence interval of 95 %.This is equivalent to a level of significance,α,of 5 %(.05),where the null hypothesis is H0:μ0=10,000 and the alternative hypothesis is H1:μ0≠10,000.The company does not know that the actual, average tensile strength...
A construction firm thinks that it is receiving 100 steel pipes with an average tensile strength...
A construction firm thinks that it is receiving 100 steel pipes with an average tensile strength of 10,000 pounds per square inch(lbs p.s.i.).This is the mean,μ.The size of the sample was n=100.The firm also knows that the population standard deviation,sigma,σ,is 400 p.s.i.The firm chooses a confidence interval of 95 %.This is equivalent to a level of significance,α,of 5 %(.05),where the null hypothesis is H0:μ0=10,000 and the alternative hypothesis is H1:μ0≠10,000.The company does not know that the actual, average tensile strength...
A. A supermarket claims that the average wait time at the checkout counter is less than...
A. A supermarket claims that the average wait time at the checkout counter is less than 9 minutes.  Assume that we know that the standard deviation of wait times is 2.5 minutes. We will test at 5% level of significance. Consider H0: mu >= 9 H1: mu < 9 A random sample of 50 customers yielded an average wait time of 8.2 minutes. What is the critical value for the Zstat (the Z-test statistic)? (Provide two decimal places)____________ B. Given the...
If I want to compare the performance of a particular group to an established, accepted average...
If I want to compare the performance of a particular group to an established, accepted average but information about the population standard deviation is not available. I should Group of answer choices conclude this cannot be done. conduct a one-sample t-test. conduct a one-sample z-test. conduct a correlated t-test. Why, in some cases, is a measure of association needed in addition to a p-value for a statistical test? Group of answer choices The p-value only specifies the reliability of the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT