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stellarik [79]
3 years ago
6

A recent report indicated that families in a certain country typically spend about $175 per week on groceries. To investigate wh

ether families in a certain city typically spend more than $175 per week, an economist selected a random sample of 500 families in the city and found the sample mean to be $176.24. With all conditions for inference met, a hypothesis test resulted in a pp-value of 0.0021.
At the significance level of α=0.05α=0.05, which of the following is a correct conclusion?
A. The pp-value is less than 0.05, and the null hypothesis is rejected. There is convincing statistical evidence that the mean is greater than $175.
The pp-value is less than 0.05, and the null hypothesis is not rejected. There is convincing statistical evidence that the mean is greater than $175.
B. The pp-value is less than 0.05, and the null hypothesis is not rejected. There is not convincing statistical evidence that the mean is greater than $175.
C. The pp-value is greater than 0.05, and the null hypothesis is rejected. There is convincing statistical evidence that the mean is greater than $175.
D. The pp-value is greater than 0.05, and the null hypothesis is not rejected. There is not convincing statistical evidence that the mean is greater than $175.
Business
1 answer:
leonid [27]3 years ago
0 0

Answer:

Option B

Explanation:

Null hypothesis: ∪ = $175

Alternative hypothesis: ∪ₐ ≠ $175

With a pp value of 0.0021 which is less than value at the level of significance, the null hypothesis is not rejected as there is no sufficient statistical evidence that the mean is greater than $175.

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For the next nine questions, use the data in the following tables for an economy that produces only two things, bread and comput
ANEK [815]

Answer:

1. Using the chain weighted method, and selecting year 1 as a base, what is real GDP in year 2?

  • $1,150

2. Using the chain weighted method, and selecting year 2 as a base, what is real GDP in year 2?

  • $1,500

Explanation:

When you use the chain weighted method, you must multiply the base year's price times the current quantities to determine real GDP.

                                             Year 1                    Year 2

                                        Quantity Price      Quantity Price

Bread                                   30      $10              40        $15

Computers                          10      $50               15        $60

real GDP in year 2 using year 1 as base = (15 x $50) + (40 x $10) = $750 + $400 = $1,150

real GDP in year 2 using year 2 as base = (15 x $60) + (40 x $15) = $900 + $600 = $1,500

3 0
4 years ago
Suppose that when income rises, the demand curve for doctor's visits shifts to the right. in this case, we know doctor's visits
Vera_Pavlovna [14]
I would have to say C.
7 0
3 years ago
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On the day of a child's birth, a parent deposits $35,000 in a trust fund that pays 4% interest, compounded continuously. Determi
Dmitrij [34]

Answer:

$91,409

Explanation:

Balance = 35000*e^(0.04*24)=$91409

6 0
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With plans to build a $50 million theme park, Extreme Entertainment, Inc. intends to finance this project through the sale of ad
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Answer:

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Marta_Voda [28]

Answer:

NO

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