1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
suter [353]
4 years ago
7

In 2008, the average household debt service ratio for homeowners was 13.2. The household debt service ratio is the ratio of debt

payments (such as mortgage payments) to disposable personal income. You are asked to evaluate this debt ratio for the last 10 years using a random sample of 44 Americans with a Mean =13.88 and a sample standard deviation of 3.14. Can you infer from the data that the debt service ratio has increased since 2008? Use alpha=0.05 Repot the value of the test statistics and critical value or p-valu
Mathematics
1 answer:
ankoles [38]4 years ago
8 0

Answer:

t=\frac{13.88-13.2}{\frac{3.14}{\sqrt{44}}}=1.436    

df=n-1=44-1=43  

p_v =P(t_{(43)}>1.436)=0.079  

We see that the p value i higher than the significance level so then we FAIL to reject the null hypothesis and we can conclude that the true mean is not significantly higher than 13.2 *the value of 2008 ).

Step-by-step explanation:

Information given

\bar X=13.88 represent the sample mean

s=3.14 represent the sample standard deviation

n=44 sample size  

\mu_o =13.2 represent the value that we want to test

\alpha=0.05 represent the significance level

t would represent the statistic (variable of interest)  

p_v represent the p value for the test

Hypothesis to test

We want to conduct a hypothesis in order to check if the true mean has increased from 2008 , and the system of hypothesi are:  

Null hypothesis:\mu \leq 13.2  

Alternative hypothesis:\mu > 13.2  

The statistic for this case is:

t=\frac{\bar X-\mu_o}{\frac{s}{\sqrt{n}}}  (1)  

Calculating the statistic

Replacing the info given we got:

t=\frac{13.88-13.2}{\frac{3.14}{\sqrt{44}}}=1.436    

P-value

The degrees of freedom are:

df=n-1=44-1=43  

Since is a right tailed test the p value is:  

p_v =P(t_{(43)}>1.436)=0.079  

Decision

We see that the p value i higher than the significance level so then we FAIL to reject the null hypothesis and we can conclude that the true mean is not significantly higher than 13.2 *the value of 2008 ).

You might be interested in
Which TWO answers indicate why it's important to round numbers?
Anni [7]
<span>-Calculations may lead to long decimals, but money is in dollars and cents.
-Looks neater</span>
4 0
3 years ago
Read 2 more answers
Peace be upon you, please. I need help with this exercise now, please
baherus [9]
Okkkkkkkkk what do ya neeeeedddddd
4 0
3 years ago
-4x + 7 is greater than or equal to 83<br> (sorry, i couldn't get the sign for it)
bezimeni [28]

Answer:

-19

Step-by-step explanation:

you first substract 7 from 83 since its the inverse operation

then you divide it by -4 which give you -19

4 0
2 years ago
The sum of a number and 17 is no less than 26
Eva8 [605]
I believe it would be as following:

x+7>12

Here, x represents the unknown number. The symbol for no less than is greater than.
5 0
3 years ago
Read 2 more answers
If f(x) = 3^+ 10 and g(x) = 2x - 4, find (f - g)(x).
just olya [345]

Answer:

3^x -2x +14

Step-by-step explanation:

I will assume you mean 3^x in the function f(x)

f(x) = 3^x+ 10

g(x) = 2x - 4

(f - g)(x) =  3^x+ 10  - (2x - 4)

       Distribute the minus sign

              =  3^x+ 10  - 2x + 4

              = 3^x -2x +14

8 0
3 years ago
Other questions:
  • There are 5,280 feet in a mile. If Sarah ran 13,200 feet, then how many miles did she run?
    9·2 answers
  • P-1.34=-11.8 one step equations
    10·1 answer
  • 2x–5 = x+2<br> ———. ———<br> 7. 8
    13·1 answer
  • A new truck that sells for 25,000 (decreases in value) 11% each year. what will be the value of the truck in two years?
    12·1 answer
  • 2 QUESTIONS FOR DOUBLE POINTS!! 20 POINTS!!
    9·1 answer
  • Ricky has $850 to deposit into two different savings accounts.
    13·2 answers
  • Please this is due in 1 hr and8 minutes...
    13·1 answer
  • Kyle is buying a $220 bicycle. If the bicycle is on sale for 35% off, how much will he save? ​
    7·1 answer
  • The equation f(x)= 2x-9 translate 6 units up is g(x)=
    12·1 answer
  • You went shopping for back to school and bought packs of pens and pencils. a pack of
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!