Expert answer:Formulate the hypotheses to determine the mean of
Answer & Explanation:Question 1A sample of 81 account balances of a credit company showed an average balance of $1,200 with a standard deviation of $126.Formulate the hypotheses that can be used to determine whether the mean of all account balances is significantly different from $1,150.Compute the test statistic.Using the p-value approach, what is your conclusion? Let α = .05.I HAVE ATTACHED DOCUMENT WITH OTHER QUESTIONS BECAUSE THEY INCLUDE PICS.WEEK 6 ASSISGNMENT STATISTICS.docx
week_6_assisgnment_statistics.docx
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Week 6 Assignment
Question 1
A sample of 81 account balances of a credit company showed an average balance of
$1,200 with a standard deviation of $126.
1. Formulate the hypotheses that can be used to determine whether the mean of all
account balances is significantly different from $1,150.
2. Compute the test statistic.
3. Using the p-value approach, what is your conclusion? Let α = .05.
Question 2
During the recent primary elections, the democratic presidential candidate showed the
following pre-election voter support in Alabama and Mississippi.
4. We want to determine whether or not the proportions of voters favoring the
Democratic candidate were the same in both states. Provide the hypotheses.
5. Compute the test statistic.
6. Determine the p-value; and at 95% confidence, test the above hypotheses.
Question 3
In order to estimate the difference between the yearly incomes of marketing managers
in the East and West of the United States, the following information was gathered.
7. Develop an interval estimate for the difference between the average yearly incomes of
the marketing managers in the East and West. Use α = 0.05.
8. At 95% confidence, use the p-value approach and test to determine if the average
yearly income of marketing managers in the East is significantly different from the
West.
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