Annual expenditure per consumer unit

Reference no: EM13965380

It was claimed that the average annual expenditures per consumer unit had continued to rise, as measured by the Consumer Price Index annual averages (Bureau of Labor Statistics report, 1995). To test this claim, 100 consumer units were randomly selected in 1995 and found to have an average annual expenditure of $32,277 with a standard deviation of $1200. Assuming that the average annual expenditure of all consumer units was $30,692 in 1994, test at the 5% signi?cance level whether the annual expenditure per consumer unit had really increased from 1994 to 1995.

Reference no: EM13965380

Questions Cloud

Nuclear capabilities of other countries : It is claimed that two of three Americans say that the chances of world peace are seriously threatened by the nuclear capabilities of other countries. If in a random sample of 400 Americans, it is found that only 252 hold this view, do you think t..

How toomers style and literary approach differ in each work : Read "Winter on Earth" alongside the excerpt from Cane (1923) in the anthology. Discuss how Toomer's style, themes, and literary approach differ in each work.

Time required for balls to attained a temperature of 150 : Calculate the time required for the balls to attained a temperature - suddenly placed in a control environment in which the temperature is maintained at 100oC.

Calculate the y-component of the velocity of the particle : A particle with a charge of -5.90 * 10^-9 C is moving in a uniform magnetic field B(vector) = -(1.25 T) k (hat). The magnetic force on the particle is measured to be F(vector) = -(4.00 * 10^-7 N) i(hat) + (7.60 * 10^-7 N) j(hat). Are there compone..

Annual expenditure per consumer unit : Assuming that the average annual expenditure of all consumer units was $30,692 in 1994, test at the 5% signi?cance level whether the annual expenditure per consumer unit had really increased from 1994 to 1995.

Manufactures precision special-alloy steel shafts : A company that manufactures precision special-alloy steel shafts claims that the variance in the diameters of shafts is no more than 0.0003. A random sample of 10 shafts gave a sample variance of 0.00027. At the 5% level of signi?cance, test wheth..

Draw a box plot and normal plot for data : Do the data provide suf?cient evidence to indicate that the mean Hb level for children with chronic diarrhea is less than that of the normal value of 14.6 g/dL? Test the appropriate hypothesis using α = 0.01. Draw a box plot and normal plot for th..

List at least five items that should take to every interview : If a job candidate receives a job offer while other interviews are still pending, how should he or she ask the employer for a time extension?

What was the cost of raw materials put into production : What was the cost of raw materials put into production during the year? How much of the materials in (1) above consisted of indirect materials?

User Account

All Pages