Compare the p-value to the level of significance

Assignment Help Basic Statistics

Reference no: EM13135993

At the time he was hired as a server at the Family Restaurant, Bob was told, "You can average more than $20 a day in tips." Over the first 36 days he was employed at the restaurant, the mean daily amount of his tips was $24.85 with a standard deviation of $3.24. With a 1% (or .01) Level of Significance, can Bob conclude that he is probably earning more that $20 per day in tips?

a. Please state the null and alternative hypothesis in symbols and in words. (Hint: Ho: mu <= $20 per day)

b. What is the z score calculated using the sample and population information? (Hint: When you don't have the population standard deviation you can substitute the SAMPLE standard deviation.)

c. What is the P-value (i.e. the area underneath the curve ABOVE the z-score calculated in part b)

d. Compare the P-value to the Level of Significance. Do you accept or reject Ho.

e. Answer the original question (Hint: don't forget to use the word "probably" in your answer to account for the level of significance.)

Reference no: EM13135993

Questions Cloud

American politics during eve of civil war : What was the political landscape of America on the eve of the Civil War? Many scholars point out that the Civil War was in many ways the product of the breakdown in the American political system that had effectively contained the divisive issue of..

How much gas remains in the cylinder : compressed gas cylinder contains 1.00 x 10^3 g of argon gas. The pressure inside the cylinder is 2050 psi at a temperature of 18 C.

Constitutional limitation of government power : Overview of the constitutional limitation of government power. Compare power national and state governments describe various types of gov grants.

Determine where the company foreign operation : Many companies make annual reports available on their corporate Internet home page. Anuual reports also can be accessed through the SEC'S Edgar system at www.sec.gov (under fling type search for 10-K).

Compare the p-value to the level of significance : Please state the null and alternative hypothesis in symbols and in words. Compare the P-value to the Level of Significance. Do you accept or reject Ho.

President leadership style in office : What is the relationship between a president's leadership style in office and his (or her?) campaign style? Explain your answer. Select a Political Action Committee (PAC). How is it funded? What political candidates does it support? Evaluate whether..

What is the principal quantum no of lower-energy state : One of the emission spectral lines for Be3+ has a wavelength of 253.4 nm for an electronic transmission that begins in the state with n = 5.

How many of corks would expect to be undersized : If he were to randomly select 120 corks from the next box, then how many of these corks would John expect to be undersized?

What makes american political parties unique : What makes American political parties unique? Discuss the ramifications of changes in levels of American partisanship (party affiliation and identity) on the power of political parties in the present.

User Account

All Pages