User Account

All Pages

Hypotheses to determine mean

Assignment Help Basic Statistics
Reference no: EM1316438

A sample of 81 account balances of a credit company showed an average balance of $1,200 with a standard deviation of $126.

a. Formulate the hypotheses that can be used to determine whether the mean of all account balances is significantly different from $1,150

b. Compute the test statistics.

c. Using the p-value approach, what is your conclusion?

Let α = .05

Reference no: EM1316438

Questions Cloud

Calculating the first derivative and critical point : Calculating the first derivative and critical point.
Presume that a highly liquid market does not exist for long : Presume that a highly liquid market does not exist for long-term T-bonds and and the expected rate of inflation is a constant
Find the amount of harry''s annual payment : Compute the amount yearly loan repayment - Find the amount of Harry's annual payment.
Calculate the variance of a binomial distribution : It is known that 60 percent of all registered voters in the 42nd congressional District are Republicans. There registered voters are selected at random from the district. Compute the probability that exactly 2 of the 3 selected are Republicans, u..
Hypotheses to determine mean : Formulate the hypotheses that can be used to determine whether the mean of all account balances is significantly different from $1,150
Knowing the mean score for a certain quiz in a statistics : Make a List of type of possible errors. Assume that you were interested in knowing the mean score for a certain quiz in a statistics class.
P-value associated with sample results : What is the p-value associated with the sample results? What is your conclusion based on the p- value?
Questions based on dividend discount model : Multiple choice questions using dividend discount model - what growth rate in dividends must be expected and what is Gold's stock worth to you
Risk analysis involving computation of cash flow : Risk analysis involving computation of cash flow and coefficient of variation and Wrigley Village Yearly After-tax Cash Inflow Crosley Square Yearly After-tax Cash Inflow

Reviews

Write a Review

Basic Statistics Questions & Answers

  Mean difference among the groups

To determine whether there exists mean difference among the groups:

  Frequency of committing error with different alpha level

In 1,000 samples, assuming that  H 0 is true, how many times would you expect to commit Type I error if:

  Pattern of correlation is statistically important

Explain in words general pattern of correlation is statistically important.

  To test the claim using two proportion z test

Obtain a test statistic and  p -value. Interpret the results at  α  = .01.

  Finding minimum sample size using the mean scores

What is the minimum sample size needed in order for you to be 95% confident that your estimate is within 5 of µ? Use the value 20 for the population standard deviation of scores on this subsection.

  Computing and interpreting suitable measure of association

Draw the suitable 2x2 table, compute and interpret suitable measure of association.

  Computing probability values using binomial distribution

What is the probability that at least one of the new books is a commercial success?

  Independent samples t-test and multiple comparison test

Compare your best difference to the result from an ordinary two-sample t-test between these groups. Comment the difference.

  Fit test and chi square

At the .01 significance level, is there a difference in the use of the four entrances?

  Show the partial anova table

A manufacturer of billiard balls is testing three additives to the basic plastic. Show the partial ANOVA table

  Determining sample correlation coefficient

Let x be average number of employees in group health insurance plan and y be average administrative cost as percentage of claims. Determine sample correlation coefficient.

  Partial anova table

Assume the data for the three groups are independent and the data are approximately Normal. The P-value is less than 0.01. The correct conclusion is that

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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