Conclude that the population means are different

Assignment Help Basic Statistics

Reference no: EM13148466

Macaray Homes is developing two parcels near Globe Arizona. In order to test different advertising approaches, they use different media to reach potential buyers. The mean annual family income for 75 people making inquiries at the first development is $150,000, with a standard deviation of $40,000. A corresponding sample of 120 people at the second development had a mean of $180,000, with a standard deviation of $30,000. At the .05 significance level, can Macaray conclude that the population means are different? Note that you should show all 5 steps in the test of hypothesis.

Reference no: EM13148466

Questions Cloud

Explain water movement from the soil : Explain why is it necessary to introduce the concept of water potential in order to explain water movement from the soil, through the plant and finally to the atmosphere.

How much electrical energy is needed to heat the water : How much electrical energy is needed to heat the water in a hot water heater with a capacity of 40 gallons from 60 F to 110 F? How much will this cost at a rate of $ 0.13/kWh?

Find the journal entries : Coyle Corp. issued $10,000,000 par value 10% convertible bonds at 99. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at 95. Expenses of issuing the bonds were $70,000. What are the journa..

Explain the atmosphere becomes colder at higher elevation : The atmosphere becomes colder at higher elevation. As an average the standard atmospheric absolute temperature can be expressed as Tatm = 288 - 6.5 × 10?3 z, where z is the elevation in meters.

Conclude that the population means are different : At the .05 significance level, can Macaray conclude that the population means are different? Note that you should show all 5 steps in the test of hypothesis.

Implementation of separation of duties : Describe in your own words what "segregation of duties" is in an AIS context. Explain how MYOB can assist in the implementation of separation of duties

What annual savings in shipping expenses mush : If the firms effective interest rate is 15% per year and the life of the software is four year, what annual savings in shipping expenses mush there be to justify the purchase if the software

What is the profit-maximizing rate of output for the firm : What is the profit-maximizing rate of output for the firm?( b ) How much profit does the firm earn at that rate of output?

Find probability that if bags are selected have more weight : Normally distributed with a mean of 113 grams and a standard deviation of 5.4 grams. Find the probability that if 7 bags are randomly selected, their mean weight exceeds 114 grams.

User Account

All Pages