Compute the sample mean, Macroeconomics

Assignment Help:

Joans Nursery specializes in custom-designed landscaping for residential areas. The estimated labor cost associated with a particular landscaping proposal is based on the number of plantings of trees, shrubs, and so on to be used for the project. For cost-estimating purposes, managers use two hours of labor time for the planting of a medium-sized tree. Actual times from a sample of 10 plantings during the past month follow (times in hours).
1.7, 1.5, 2.6, 2.2, 2.4, 2.3, 2.6, 3.0, 1.4, 2.3
With a .05 level of significance, test to see whether the mean tree-planting time differs from two hours.

a. State the null and alternative hypotheses.

b. Compute the sample mean.

c. Compute the sample standard deviation.

d. What is the p-value?

e. What is your conclusion?


Related Discussions:- Compute the sample mean

Demand for green and chai tea, Given the data in the table below, provide a...

Given the data in the table below, provide an estimate of the arc price elasticity of demand for green and chai tea. Chai tea Price $/lb. 10.4, 10.5 Chai tea Quantity mil lbs. 75

Explain about the elasticity and total revenue, Explain about the elasticit...

Explain about the elasticity and total revenue. Elasticity and Total Revenue: a. When demand for a good is elastic, a raise in price decreases total revenue. Then Sales effe

Franchises ensure appropriate international markets, How can franchises ens...

How can franchises ensure their products are appropriate for international markets?

Classical model, using a graph of the classical labour market,illustrate th...

using a graph of the classical labour market,illustrate the effects of a real wage existing in the market that is lower than the equilibrium real wage.What will eventually happen i

Effect of real wage in classical labour market, illustrate the effects of a...

illustrate the effects of a reeal wage existing in the labour market if it is perfectly competitive

Discretionary Fiscal Policy Effectiveness, Discretionary fiscal policy will...

Discretionary fiscal policy will stabilize the economy most when: A.) deficits are incurred during recessions and surpluses during inflations B.) the budget is balanced each year C

Recent article in the cincinnati enquirer, A recent article in the Cincinna...

A recent article in the Cincinnati Enquirer reported that the mean labor cost to repair a heat pump is $90 with a standard deviation of $22. Montes plumbing and Heating Service com

Illustrate website of at least 3 of the companies, Review the most current ...

Review the most current results of FORTUNE Magazine's annual ranking of America's "100 Best Companies to Work For." Explore the website of at least three of the companies noted. De

Two banks for financing, You decide to buy a home for $1,000,000. You appro...

You decide to buy a home for $1,000,000. You approach two banks for financing. The first requires a 10% down payment and requires monthly payments on a 20 year mortgage sufficient

Impulse response functions, After an oil price shock was impacted upon the ...

After an oil price shock was impacted upon the other five variables in the model, many interesting results were found. I have already demonstrated that oil Granger causes i

Write Your Message!

Captcha
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