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

Forex, what is largest business in thailand

what is largest business in thailand

What is frictional unemployment, What is Frictional unemployment Ind...

What is Frictional unemployment Individuals who are temporarily unemployed when transiting between jobs or just entering labour market. This kind is typically short in durat

Macroeconomic policy issues facing the u.s. economy, While referring to the...

While referring to the "EYE on YOUR LIFE" section on, discuss the macroeconomic policy issues facing the U.S. economy today based on the economic concepts you have learned in this

natural monopoly, 1. Consider a natural monopoly. I. Show graphically a...

1. Consider a natural monopoly. I. Show graphically and discuss how price and quantity are set by the natural monopolist. II. Define the areas corresponding to the consumers'

What is keynesian model, Q. What is Keynesian model? Keynesian model is...

Q. What is Keynesian model? Keynesian model is slightly more complicated than the classic model and it is developed in four stages by analysing four separate models. Every mode

Monetary Policy.., Suppose the banking system has reserve of $750000, deman...

Suppose the banking system has reserve of $750000, demand deposits of $2500000 and a reserve requirement of 20%. a. if the fed now purchases $125,000 worth of govt bonds from the

Index number, definition and charactoristics of index numbers.problems whil...

definition and charactoristics of index numbers.problems while constructing index numbers

International trade, How can a country maintain equilibrium GDP with foreig...

How can a country maintain equilibrium GDP with foreign trade?

Estimate the maximum possible daily profit, Shambles have selected the "Myt...

Shambles have selected the "Mythical Beasts" range and decided to concentrate on "Pegasus" and "Phoenix." They would now like to find the right mix of these two products in order

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