1 estimation of mean monthly rentalsa suppose we consider

Assignment Help Basic Statistics

Reference no: EM13382437

1. estimation of mean monthly rentals

a) suppose we consider the following data on monthly rentals: 980, 1230, 1320, 1440, 1180, 1050, 1520, 1630, 880, 920. Suppose, further, that the landlord association claims that the true average rental of a low income 3 ½ room apartments is $1100. The housing authority believes that the average rental is higher. Let the null hypothesis be the landlord association claim and the alternative hypothesis be the housing authority claim. Doe the data support the landlord's association claim? What would you report to the housing authority?

b) Suppose that a sample of 10,000 apartments yielded the following results: x¯=1110, S=250. Using this data, what are your conclusion? What would you report to the housing authority?

2. Applications to auditing

a) Suppose it is claimed that more efficient record keeping has resulted in a lower error rate in accounting entries than the 3% which has been true in the past. The null hypothesis is that the error rate is 0.03; the alternative hypothesis is that the error rate is greater than 0.03. In a sample of 15 entries, 2 errors were found. Does the data support the claim in the null hypothesis?

b) In a large study of 1000 entries, 40 errors were found. Does the data support the null hypothesis based upon this experience?

Reference no: EM13382437

Questions Cloud

There are two methods of calculating cash flow from : there are two methods of calculating cash flow from operating activities the direct method gross flows and the indirect

1 a random sample of size 100 was taken from a population a : 1 a random sample of size 100 was taken from a population. a 94 confidence interval to estimate the mean of the

1 athere are 3 people at a donut shop and they have 5 : 1. athere are 3 people at a donut shop and they have 5 donuts. how many ways are there to assign donuts to people if

You are estimating the cost k of optical sensors based on : you are estimating the cost k of optical sensors based on the power output of the sensor. using the preliminary

1 estimation of mean monthly rentalsa suppose we consider : 1. estimation of mean monthly rentalsa suppose we consider the following data on monthly rentals 980 1230 1320 1440

A researcher would like to evaluate the claim that large : a researcher would like to evaluate the claim that large doses of vitamin c can help prevent the common cold. one group

Provide me with a simple brief statement about the post : provide me with a simple brief statement about the post belowcorrelation does not imply causation is a phrase that

The machining center at a production facility has three : the machining center at a production facility has three lathes of differing ages and thus precision. the oldest machine

You are given the accompanying response data on : you are given the accompanying response data on concentration of a chemical as a function of time. the six sets of

User Account

All Pages