User Account

All Pages

Statistical inference for the questions

Assignment Help Basic Statistics
Reference no: EM132188208

The R & M department store as two charge plans available for its credit-account customers. The management of the store wants to collect information about each plan and to study the differences between the two plans. Of particular interest is the monthly balance carried by the customers. Random samples of 25 accounts in Plan A and 50 accounts in Plan B are selected, with the following results. 

Use a level of significance of 0.01 and use statistical inference for the following questions. 

a. Is there evidence of a difference between the average balances of Plan A and Plan B? You must demonstrate all students to receive full credit.  

b. Determine the confidence interval for the difference between the average balances of Plan A and Plan B.  

Plan A Plan B

nA = 25 nB = 50

xA(bar) = $75   xB(bar) = $110

sA = $15 sB = $14.14

Reference no: EM132188208

Questions Cloud

Sample is the number of defective computer : An example of a paired sample is the number of defective computer chips of a particular type from two different manufacturers. True or False?
Examine an adverse selection problem your company is facing : Examine an adverse selection problem your company is facing and recommend how it should minimize its negative impact on transactions.
How many 3-digit numbers : How many 3-digit numbers (from 100 to 999) do not contain even digits? (0 is considered an even digit).
Discuss the brukman workers and recovered factories movement : Discuss the Brukman workers and the recovered factories movement. Who and what are they and why are they significant
Statistical inference for the questions : Use a level of significance of 0.01 and use statistical inference for the following questions.
Determining the regression coefficients : At the 0.05 significance level, can we conclude that any of the regression coefficients are not equal to 0?
What do you see as most difficult part of being a manager : Which of these would be most difficult for you as a manager? What do you see as the most difficult part of being a manager? If you have management experience.
How does managed care impact hospital net revenues : Describe the key issues associated with managed care and its reimbursement methods. How does managed care impact hospital net revenues?
Formulate the null and the alternative hypotheses : (a) Formulate the null and the alternative hypotheses in terms of the population mean. (b) State the test statistic.

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!

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