Statistics, Course Project Part B

Keller Graduate School of Management Project Part B: Answer a. In this part of the project I am going to examination the managers claim that the honest mean yearbook income was less than $50,000. The supposition examineing is done through the sideline steps: The bootless system H0 is that the mean periodic income ? is get even to $50,000. H0:? = $50,000. The alternative hypothesis H1 is that the mean one-year income ? is less than $50,000. H1:? < $50,000 importation level chosen is 5% or ? = 0.05 Here, the population modular deviation is unknown. thusly, we use a t statistic Therefore the try statistic used is t = X-?S/n follows a t distribution with n-1 degrees of freedom From the t put off agree to 0.05 opportunity, the critical take to be t? =1.6766. Hence the critical region is t < -1.6766. Alternatively, we baulk the fruitless hypothesis, if the p look upon is less tha n the conditional relation level fill in the value we get t = 43.74-5014.6396/50 = -3.02 The p value corresponding to t = -3.02 and 49 d.f. is 0.002 which is elfiner than the consequence level. The value of the evidence statistic is in the critical region and hence it is significant.

Therefore, we reject the zipper hypothesis at 5% level of significance. The p-value is 0.002 which is keener than the significance level. Hence there are 0.002 chances that such a small value can observe when the null hypothesis is true. Since, this chance is smaller than the significance level we reject the null hypothesi s at 5% level. Hence, we conclude that t! here is enough dribble to support the managers claim that the average annual income was less than $50,000. b. The claim is that the true population proportion of customers who exposit in an urban area exceeds 40%. In the tending(p) up sample of size 50, thirteen are from the urban. The null hypothesis H0 is that the population proportion of customers who live in an urban is 40%. H0:p = 0.40. The...If you want to get a expert essay, order it on our website: BestEssayCheap.com

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