Reference no: EM13580206

Question: A study recently reported that the average age of a female shareholder is 44 years. A broker in Adelaide wants to know whether this figure is accurate for the female shareholders in Adelaide. The broker secures a master list of shareholders in Adelaide and takes a random sample of 58 women. Suppose the average age for shareholders in the sample is 45.1 years, with a population standard deviation of 8.7 years. Test to determine whether the broker's sample data differ significantly enough from the 44-years figure released by the earlier study to declare that Adelaide female shareholders are different in age from female shareholders in general. Use α = .05. If no significant difference is noted, what is the broker's probability of committing a Type II error if the average age of a female Adelaide shareholder is actually 45 years? 46 years? 47 years? 48 years? Construct an OC curve for these data. Construct a power curve for these data.