Find the calculated test statistic

Assignment Help Basic Statistics
Reference no: EM133245540

Suppose small business profit per week in a city, has been, on average, $25,000 per week over the last few years.

A researcher would like to know if the profit is increasing, by taking a random sample of 30 small businesses.

From the sample, the average weekly profit was $28,600 with a standard deviation of $2,050.

Assume the conditions are satisfied and do NOT need to be checked.

a) Write the hypotheses to test the researcher's claim.

b) Find the calculated test statistic.

c) Give the critical value, at α = 0.01

d) If testing at α = 0.01, give your decision , briefly explaining your reasoning.

e) Give the conclusion.

f) Describe a Type II error in the context of this question.

Reference no: EM133245540

Questions Cloud

Explain voluntary response sample : Some magazines and newspapers conduct polls in which the sample results are a voluntary response sample. What is a voluntary response sample? In general, can a
What would the sample size n be : Recent evident suggests that 15% of parents would change their mind about having kids. If we randomly chose n-parents and somehow made the possibility of at lea
What value of the mean would be used : The manager wants to do hypothesis test of the mean. What value of the mean would be used in the null and alternative hypotheses?
Research the exclusions database : As a manager you should be aware of the Office of Inspector General (OIG) exclusion data base.
Find the calculated test statistic : Suppose small business profit per week in a city, has been, on average, $25,000 per week over the last few years.
Average weight of oranges in the selected sample : Suppose that the weight of navel oranges is normally distributed with mean µ = 8 ounces, and standard deviation d = 1.5 ounces.
How many different ways to select the lakes : An environmental agency is analyzing water samples from 79 lakes for pollution. Seven of the lakes have dangerously high levels of dioxin. Six of the lakes are
How does an understanding of the generalized model : How does an understanding of the Generalized Model for Program Planning (GMPP) help you understand all planning models?
How well is diet meeting the recommended intake of kcalories : How well is your diet meeting the recommended intake of kcalories from carbohydrate, protein, and fat?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd