Answer:
See Explanation
Step-by-step explanation:
<em>The question is incomplete as the solution to part A (or part A itself) is not given. To solve this, I will assume a value to the supposes solution to part A.</em>
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From the question:
1 square foot is sold at $3.
This implies that:
p square foot will be sold at $3p.
So, total sales can be calculated using:
Now assume that p is 10 square feet (from part A).
The total will be:
Answer:
The margin of error for this estimate is of 14.79 yards per game.
Step-by-step explanation:
We have the standard deviation for the sample, which means that the t-distribution is used to solve this question.
T interval
The first step to solve this problem is finding how many degrees of freedom, we have. This is the sample size subtracted by 1. So
df = 20 - 1 = 19
95% confidence interval
Now, we have to find a value of T, which is found looking at the t table, with 19 degrees of freedom(y-axis) and a confidence level of . So we have T = 2.093
The margin of error is:
In which s is the standard deviation of the sample and n is the size of the sample.
You randomly select 20 games and see that the average yards per game is 273.7 with a standard deviation of 31.64 yards.
This means that
What is the margin of error for this estimate?
The margin of error for this estimate is of 14.79 yards per game.
Answer:
If we compare the p value and the significance level given we see that
so we can conclude that we have enough evidence to FAIL to reject the null hypothesis, and the group CTS, NOT have a significant higher mean compared to the Normal group at 1% of significance.
Step-by-step explanation:
1) Data given and notation
represent the mean for the sample CTS
represent the mean for the sample Normal
represent the sample standard deviation for the sample of CTS
represent the sample standard deviation for the sample of Normal
sample size selected for the CTS
sample size selected for the Normal
represent the significance level for the hypothesis test.
t would represent the statistic (variable of interest)
represent the p value for the test (variable of interest)
State the null and alternative hypotheses.
We need to conduct a hypothesis in order to check if the mean for the group CTS is higher than the mean for the Normal, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
If we analyze the size for the samples both are less than 30 so for this case is better apply a t test to compare means, and the statistic is given by:
(1)
t-test: "Is used to compare group means. Is one of the most common tests and is used to determine whether the means of two groups are equal to each other".
Calculate the statistic
We can replace in formula (1) the info given like this:
P-value
The first step is calculate the degrees of freedom, on this case:
Since is a one side right tailed test the p value would be:
We can use the following excel code to calculate the p value in Excel:"=1-T.DIST(1.507,15,TRUE)"
Conclusion
If we compare the p value and the significance level given we see that
so we can conclude that we have enough evidence to FAIL to reject the null hypothesis, and the group CTS, NOT have a significant higher mean compared to the Normal group at 1% of significance.