Conclude-above-average rates exist for private water system

Assignment Help Basic Statistics

Reference no: EM13155740

Raftelis Financial Consulting reported that the mean quarterly water bill in the United States is $47.50 (U.S. News && World Report, August 12, 2002). Some water systems are operated by public utilities, whereas other water systems are operated by private companies. An economist pointed out that privatization does not equal competition and that monopoly powers provided to public utilities are now being transferred to private companies. The concern is that consumers end up paying higher-than-average rates for water provided by private companies. The water system for Atlanta, Georgia, is provided by a private company. A sample of 64 Atlanta consumers showed a mean quarterly water bill of $51 with a sample standard deviation of $12. At = .05, does the Atlanta sample support the conclusion that above-average rates exist for this private water system?

a. State your hypotheses.
H0:
Ha:

b. What is the t statistic (to 2 decimals)?

c. The p-value is

d. Can you conclude that above-average rates exist for this private water system?

Reference no: EM13155740

Questions Cloud

Which represents a more dovish fed : Which leads to higher interest rates, which leads to higher output? Which leads to higher inflation? Which represents a more hawkish Fed? Which represents a more dovish Fed?

Amount of under or overallocation of manufacturing overhead : Compute the amount of under- or overallocation of manufacturing overhead. Is the amount material? Prepare a journal entry to dispose of this amount.

Presuming that all ionic species are completely dissociated : solution of potassium sulfate. Assuming that all ionic species are completely dissociated, what is the osmotic pressure of the mixture in torr?

What was the final temperature of the gold : A 4.5 g nugget of gold absorbed 276 j of heat. What was the final temperature of the gold if the initial temperature was 25 OC ? The specific heat of gold is 0.129 j/g OC.

Conclude-above-average rates exist for private water system : At = .05, does the Atlanta sample support the conclusion that above-average rates exist for this private water system? Can you conclude that above-average rates exist for this private water system?

Regression analysis using compa as the dependent variable : Perform a regression analysis using compa as the dependent variable and the same independent variables as used in question 2. Show the result, and interpret your findings by answering the same questions.

How should the federal reserve react if they desire : How should the federal reserve react if they desire to bring inflation down to 3%. When will they achieve that goal?

What volume will the dry gas occupy : 450 mL of oxygen is bubbled through water at 10 degrees celsius and exerts 720.0 torr. What volume will the dry gas occupy at 730.0 torr and 10 degrees celcius?

What is erk2s function : What is ERK2's function, and what would be the effect of a "hyperactive" ERK2?

User Account

All Pages