Chris is a college student who can work a maximum of 40 hours per week. He needs to make at least $900 in order to cover his exp
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Using hypothesis test, we conclude that there is evidence to believe that the average household income has increased.
According to the question,
The average household income for a recent year (x₁⁻) = $30,000
The average household income for a recent year (x₂⁻) = $24,500
sample sizes n₁ = n₂ = 34
standard deviation of both samples were $24,500. Thus, s₁ = s₂ = $5928.
Null hypothesis: There is no evidence to believe that the average household income has increased.
H₀ : μ₁ ≤ μ₂
Alternative hypothesis: There is evidence to believe that the average household income has increased.
H₁: μ₁ > μ₂
To check hypothesis we have the formula
Standard error=
=
= 1437.7512
Thus, standard error is $1437.7512.
Formula for test statistic = [(x₁⁻ - x₂⁻) - (μ₁ - μ₂)]/standard error
= [(30000 - 24500) - 0]/1437.7512
= 3.8254
The critical value of z at 5% level of significance is 1.6449.
Here, the calculated value is greater than the critical value so we reject H₀.
Hence using hypothesis test, we conclude that there is evidence to believe that the average household income has increased.
Learn more about hypothesis test here
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Answer:
The Spotted Cows delivery service has a greater rate of change.
Explanation
The Spotted Cows function is: y = 2.8x + 2
Dairy Farms function is: y = 2.1x + 10
I have graphed these two functions to determine which has a greater rate of change. The red line represents the Spotted Cow service while the blue represents the Dairy Farms service. On the graph you can see that the red line intersects and shifts above the blue line, meaning the rate increases at a higher rate than the blue.
Hope this helps!
