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Andrei [34K]
3 years ago
12

A random sample of 89 tourists in chattanooga showed that they spent an average of $2860 (in a week) with a standard deviation o

f $126; and a sample of 64 tourists in orlando showed that they spent an average of $2935 (in a week) with a standard deviation of $138. we are interested in determining if there is any significant difference between the average expenditures of all the tourists who visited the two cities.

Business
2 answers:
Vladimir79 [104]3 years ago
8 0

Answer:

(a) 151 (b) 21430 (c) p value = 0.008 (d) We reject the null hypothesis and conclude that there is a significant difference between average expenditure of all tourist who visited the cities

Explanation:

Given that:

Let the random sample n₁ = 89

The average (x₁) = $2860

The standard deviation(σ) = $126

Random sample n = 64

The average (x₂) =  $2935

The standard deviation(σ) = $138

Now,

(a) = The test degree of freedom =  n₁ +n₂₂ - 2 = 89 +62 -2

= 151

Note kindly find an attached copy work to part of the solution of this exercise below

faust18 [17]3 years ago
6 0

Answer:

The complete question is given in the explanation box below and the solutions to the problem is shown in the pictures attached herewith accordingly. Thank you.

Explanation:

a. Determine the degrees of freedom for this test.

b. Compute the test statistic.

c. Compute the p-value.

d. What is your conclusion? Let α = .05.

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Answer:

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Explanation:

solution

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so correct option is $750

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Eliza has the opportunity to receive $15,000 in four years. Assume the annual interest rate is 10%, what is the present value?
KonstantinChe [14]

Answer:

$10,245.20

Explanation:

The present value by the Eliza shall be determined through below mentioned formula:

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