Question
A Fortune study found that the variance in the number of vehicles owned or leased by...
A Fortune study found that the variance in the number of vehicles owned or leased by subscribers to Fortune magazine is 0 .93. Assume a sample of 12 subscribers to another magazine provided the following data on the number of vehicles owned or leased: 1, 1, 2, 0, 3, 2, 1, 1, 2, 1, 1, 1. a. Compute the sample variance in the number of vehicles owned or leased by the 12 subscriber s. b. Test the hypothesis: to determine whether the variance in the number of vehicles owned or leased by subscribers of the other magazine differs from for Fortune . At a 0.05 level of significance, what is your conclusion?
a. Compute the sample variance in the number of vehicles owned or leased by the 12 subscribers (to 4 decimals).
b. Calculate the value of the test statistic (to 3 decimals).
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