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It is estimated that around 13% of the residents of Jakarta use cars to commute. Despite the current Covid-19 pandemic, a large car dealership in the city reported that the demand for used mid-size passenger sedans in the city has become stronger. The dealership further claimed that the average selling price for used mid-size passenger sedans is now more than $9,500. In verifying this, a random sample of 120 used mid-size passenger sedans is selected. The average price calculated from the sample is $9,600. Assume that the population standard deviation of the price is $1,200.
-Suppose you were a junior business analyst working for the dealership. Assist the dealership in performing a hypothesis test at a 10% level of significance to check whether the dealership's claim is supported. Display the six steps process (involving drawing the rejection region/s and determining the critical value/s for the decision rule) in performing the test.
-Specify the decision rule to use in the p-value method hypothesis testing. Calculate the p-value of the test above. Display working.
-Which one of these two types of error (i.e Type I or Type II) you could make with the conclusion you made in part a)? Briefly explain your selection.
-What is the required condition for ensuring that the sampling distribution of the sample mean is approximately normally distributed? Check if the condition is satisfied in the hypothesis testing that you just completed.
Based on the empirical rule, what percentage of data fall within 1 SD, 2 SD, and 3 SD of the mean for data that are distributed normally?
A group of young businesswomen wish to open a high fashion boutique in a vacant store but only if the average income of households
Question one: How are cumulative frequencies and percentiles different? How are they the same?
What does Postman say about the connection between forms of communication a culture adopts and the culture's intellectual and social preoccupation
Conduct a hypothesis test to determine whether there is any evidence to suggest the mean depth is less than 344 meters. Use a = 0.01.
a testing organization reported that 5 of their scores are under 450 while 40 of their scores exceed 1085. assume that
Jose scores 842 on the SAT. Assuming that both tests measure the same thing, what score on the ACT is equivalent to Jose's SAT score?
Two statisticians are given the same data from an experiment. Each uses these data to construct a confidence interval for the true population mean m.
Perform a Wilcoxon rank sum test on the following data on the length of time that it took to perform two types of operations.
What are the mean and standard deviation of the proportion of clients in this group who may not make timely payments?
what is the taguchi constant for a device that costs 400 to repair and a tolerance of plus or minus 0.5 mm with a mean
refer to the following frequency distribution for questions 1 2 3 and 4.the frequency distribution below shows the
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