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Answer:
Using a formula, the standard error is: 0.052
Using bootstrap, the standard error is: 0.050
Comparison:
The calculated standard error using the formula is greater than the standard error using bootstrap
Step-by-step explanation:
Given
Sample A Sample B
Solving (a): Standard error using formula
First, calculate the proportion of A
The proportion of B
The standard error is:
Solving (a): Standard error using bootstrapping.
Following the below steps.
- Open Statkey
- Under Randomization Hypothesis Tests, select Test for Difference in Proportions
- Click on Edit data, enter the appropriate data
- Click on ok to generate samples
- Click on Generate 1000 samples ---- <em>see attachment for the generated data</em>
From the randomization sample, we have:
Sample A Sample B
So, we have:
Let's say hmm let's use the figures in thousands, so
model A costs 90 + 4 per year, so... ok.. after "t" years, then the cost for model A is then 90 + 4*t, or A = 90 + 4t.
now, model B is 70 + 10 per year, so,... after "t" years, model B is then
B = 70 + 10 * t, or B = 70 + 10t.
if we were to assume A < B, namely the cost of A is less than B, what would the years be? namely, what's "t"?
after that period, then A becomes cheaper than B.
model A costs 90 + 4 per year, so... ok.. after "t" years, then the cost for model A is then 90 + 4*t, or A = 90 + 4t.
now, model B is 70 + 10 per year, so,... after "t" years, model B is then
B = 70 + 10 * t, or B = 70 + 10t.
if we were to assume A < B, namely the cost of A is less than B, what would the years be? namely, what's "t"?
after that period, then A becomes cheaper than B.