Desired level of confidence

Reference no: EM1314709

1. Your company wants to conduct a salary survey for the position of Accounting Assistant II. The estimated salary range is $4,500, the margin of error should be $100 and the desired level of confidence is 95%. What is the optimal sample size for this salary survey?

2. A restaurant that bills its house account monthly is concerned that the average monthly bill exceeds $200 per account. A random sample of twelve accounts is selected, resulting in the sample mean of $220 and a sample standard deviation of $12. The researchers have determined that they should test that the mean bill exceeds $200 at the 5% level of significance.

What is the Null Hypothesis? ___________

What is the Alternate Hypothesis? ____________

How many tail(s) in the test? __________

What test should the researchers use? _________________

Why do they use this test?

What is the critical value? ________________

If the calculated value for the test statistic is 5.77, then what have the researchers learned with the test?

Are the test results reliable?

Reference no: EM1314709

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