What is the value of the test statistic, Macroeconomics

Assignment Help:

For the United States, the mean monthly Internet bill is $32.79 per household (CNBC, January 18, 2006). A sample of 50 households in a southern state showed a sample mean of $30.63. Use a population standard deviation of ? = $5:60:

a. Formulate hypotheses for a test to determine whether the sample data support the conclusion that the mean monthly Internet bill in the southern state is less than the national mean of $32.79.

b. What is the value of the test statistic?

c. What is the p-value?

d. At ? = :01, what is your conclusion?


Related Discussions:- What is the value of the test statistic

IS-lm model, Derive the following equilibrium for the IS-LM model:

Derive the following equilibrium for the IS-LM model:

Equilibrium in the labor market, Q. Equilibrium in the labor market? E...

Q. Equilibrium in the labor market? Equilibrium in the labor market  Real wage W/P will be equal to the equilibrium real wage in the classical model

What is money supply, What is Money supply The monetary base is only a ...

What is Money supply The monetary base is only a small part of the total money supply but, through the multiplier effect, the central bank's control over the money supply is ma

Intergroup conflict and intergroup competition, Discuss whether intergroup ...

Discuss whether intergroup conflict and intergroup competition are the same or different. Provide examples to support your position. What strategies can a leader use to ensure that

What is the marginal propensity to consume, Question 1: Consider a clos...

Question 1: Consider a closed economy with no government sector in which consumption (C) is related to income (Y) by the equation: C = A + bY (a) What is the marginal pr

Apparent paradox, Explain the apparent paradox that saving money is good fo...

Explain the apparent paradox that saving money is good for the individual but might be bad for the economy. Considering the circular flow diagram how is this relevant to public pol

Decrease at the rate of subsequent withdrawals, How much do you have to dep...

How much do you have to deposit today in order to allow 5 annual withdrawals, beginning at the end of year 8, with the first withdrawal of $1000 with subsequent withdrawals decreas

find the nash equilibria for all possible parameter, Two animals are fight...

Two animals are fighting over a prey. The prey is worth v to each animal. The cost of fighting is c1 for the first animal (player 1) and c2 for the second animal (player 2). If the

Market structures, illustrate and discuss the implications of variou market...

illustrate and discuss the implications of variou market structures (competitive and noncompetitive) for price determination

What do you meant by investment, Q. What do you meant by Investment? Wh...

Q. What do you meant by Investment? When we use the word investment, we characteristically mean 'gross investment'. Fundamentally, gross investment comprises all finished goods

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