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klio [65]
3 years ago
11

The u.s. department of transportation estimates that 10% of americans carpool. does that imply that 10% of cars will have two or

more occupants? a sample of 300 cars traveling southbound on the new jersey turnpike yesterday revealed that 63 had two or more occupants. at the 0.01 significance level, can we conclude that 10% of cars traveling on the new jersey turnpike have two or more occupants?
Business
2 answers:
daser333 [38]3 years ago
6 0

Answer: I HAVE NO IDEA SORRYYYYYYYY

Explanation:

den301095 [7]3 years ago
5 0

Answer:

z=\frac{0.21 -0.1}{\sqrt{\frac{0.1(1-0.1)}{300}}}=6.35  

p_v =2*P(z>6.35)=2.15x10^{-10}  

So the p value obtained was a very low value and using the significance level given \alpha=0.01 we have p_v so we can conclude that we have enough evidence to reject the null hypothesis, and we can said that at 1% of significance the proportion of cars that had two or more occupants is significantly different from 0.1 or 10%.  

Explanation:

1) Data given and notation

n=300 represent the random sample taken

X=63 represent the number of cars that had two or more occupants

\hat p=\frac{63}{300}=0.21 estimated proportion of cars that had two or more occupants

p_o=0.1 is the value that we want to test

\alpha=0.01 represent the significance level

Confidence=99% or 0.959

z would represent the statistic (variable of interest)

p_v represent the p value (variable of interest)  

2) Concepts and formulas to use  

We need to conduct a hypothesis in order to test the true proportion of cars that had two or more occupants is 0.1:  

Null hypothesis:p=0.1  

Alternative hypothesis:p \neq 0.1  

When we conduct a proportion test we need to use the z statistic, and the is given by:  

z=\frac{\hat p -p_o}{\sqrt{\frac{p_o (1-p_o)}{n}}} (1)  

The One-Sample Proportion Test is used to assess whether a population proportion \hat p is significantly different from a hypothesized value p_o.

3) Calculate the statistic  

Since we have all the info requires we can replace in formula (1) like this:  

z=\frac{0.21 -0.1}{\sqrt{\frac{0.1(1-0.1)}{300}}}=6.35  

4) Statistical decision  

It's important to refresh the p value method or p value approach . "This method is about determining "likely" or "unlikely" by determining the probability assuming the null hypothesis were true of observing a more extreme test statistic in the direction of the alternative hypothesis than the one observed". Or in other words is just a method to have an statistical decision to fail to reject or reject the null hypothesis.  

The significance level provided \alpha=0.01. The next step would be calculate the p value for this test.  

Since is a bilateral test the p value would be:  

p_v =2*P(z>6.35)=2.15x10^{-10}  

So the p value obtained was a very low value and using the significance level given \alpha=0.01 we have p_v so we can conclude that we have enough evidence to reject the null hypothesis, and we can said that at 1% of significance the proportion of cars that had two or more occupants is significantly different from 0.1 or 10%.  

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saveliy_v [14]

Answer:

A. $-2,250

B. The firm should continue to operate in the short run because price is greater than average variable cost

C.The firm should exit in the long run because it is making losses

D. In the long run, prices would increase because in a competitive firm, price must equal average cost. As firms exit the industry, supply would fall and this would lead to an excess of demand over supply. As a result, price would rise

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.

Profit = Total revenue - Total cost

( $2.50 -  $2.80) × 7,500 = $-2,250

The firm is earning a loss

A firm should shutdown in the short run if price is less than average variable cost.

Average variable cost = average total cost- average total cost

 $2.80 - $0.75 = $2.05

2.50 > 2.05 so the firm should continue to operate in the short run.

The firm should exit in the long run because it is making losses

In the long run, prices would increase because in a competitive firm, price must equal average cost

I hope my answer helps you.

3 0
3 years ago
What are the major distinctions between a two year college and a four year college
ziro4ka [17]

2 year college = associates degree you can earn this in community colleges or technical colleges.  4 year degree = bachelors degree this is the highest you can go in college or university therefore is very awarding.

4 0
3 years ago
On average, it can cost _____________________ and take _____________________ to discover a new drug, perform the necessary safet
tatuchka [14]

Answer:

$800 million; more than a decade

Explanation:

If a pharmaceutical firm decides to develop a new drug. On average, it can cost $800 million and take more than a decade to discover a new drug, perform the necessary safety tests, and bring the drug to market.

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Office with demarcation is known as what​
Katyanochek1 [597]
A a boundary point or network boundary point, a demarcation point is the physical point at which the public network of a telecommunications company ends and the private network of a customer begins.
3 0
3 years ago
In this simulation, theoretical utilization of the intensive care unit (ICU) is calculated as the flow rate of patients that arr
Dvinal [7]

Answer:

The theoretical utilization of the ICU is:

= 0.25 or 25%

Explanation:

Inter-arrival time or flow rate of patients that arrive for service at the ICU = 4 hours

Mean length of stay = 6 hours

ICU's capacity to serve customers in 6 hours = 4*6 = 24 bed-hours

Total demand = 6 hours

Therefore, the theoretical utilization = flow rate of patients that arrive for service at the ICU in a given unit of time divided by ICU's capacity to serve customers in that same unit of time

= 6 hours/24 bed-hours

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