Hypothesis test for mean spending habits

Assignment Help Basic Statistics

Reference no: EM13109890

Families of size 4 spent a population mean of $360 on a visit to an amusement park, standard deviation of $50 in October 2000. Operators want to know whether families will spend more in 2001. In an April exit poll, 64 randomly selected families of size 4 were interviewed with the average amount spent by families in the sample was $375. Assuming the standard deviation per family is $50, compute a 95% one sided confidence interval in the mean spending habits of these families. Is this sufficient evidece at 5% level of significance to indicate families will spend more in 2001?

Conduct the hypothesis test formally. If the true population mean of spending habits is $375, what is the power of this test.

Reference no: EM13109890

Questions Cloud

Performing five step hypothesis test : The following data represents the running time of films produced by 2 motion picture companies. Assume these are independent samples

Treatment conditions-total number of participants : Research reports an F=ratio with df=3.36 from independent-measures research study. How many treatment conditions were reported in the study what was the total number of participants?

Explain decision rule-computing value of test statistic : For a random sample of 12 observations, the sample mean was 407 and the sample standard deviation 6. Using the .01 significance level: State the decision rule.

First poisson event time-marked position lies between range : R1 signifies the first Poisson event time after m (or 1 if there are no Poisson events in [m,1]), then it would be learned that marked position lies between L1 and R1.

Hypothesis test for mean spending habits : Families of size 4 spent a population mean of $360 on a visit to an amusement park, standard deviation of $50 in October 2000. Operators want to know whether families will spend more in 2001.

Hypothesis testing of mean of bmi : Identify the null and alternative hypothesis, test statistic, P-value,critical values and state the final conclusion that addreses the original claim:

Calculate the break even point : The owner of a pizza place is considering a new oven in which to bake the pizzas. Oven type A can handle 25 pizzas per hour. the fixed costs associated with oven A are $10,000 and the variable costs are $2.00 per pizza.

Five step hypothesis test for bellevue steel : The production manager at Bellevue Steel, a manufacturer of wheelchairs, wants to perform a second analysis of the number of defective wheelchairs produced on the day shift and afternoon shift.

Five step hypothesis test-vitality magazine : A recent article in Vitality magazine reported that the mean amount of leisure time per week for American men is 40.0 hours. You believe this figure is too large and decide to conduct your own test.

User Account

All Pages