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1 answer:
Problem 27)
Refer to the diagram that says "problem 27".
This is the graph of y = 5x where x is the time in years, and y is the amount of simple interest in the account.
This equation comes from the simple interest formula below
i = P*r*t
i = 100*0.05*x
i = 5x
y = 5x
Note: The graph is a straight line through (0,0) and (1,5)
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Problem 28)
The abscissa is the x coordinate. For a point like (-3, -7), the abscissa is -3.
The ordinate is the y coordinate. For that point mentioned earlier, the ordinate is -7.
The graph of points is shown below in the figure labeled "problem 28".
When graphing any point, we always start at the origin (0,0) where the x and y axis meet up. Then for a point like (-3,-7) we move 3 units to the left on the x axis and 7 units down on the y axis to arrive at point A. The other points are plotted in a similar fashion. The labels A,B,C,D are optional. They were added to help keep track of the points.
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Answer:
Part a: P-value
The first step is calculate the degrees of freedom, on this case:
Since is a one sided test the p value would be:
Part b: 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 reject the null hypothesis, and we can conclude that the true mean is not lower than 20 at 1% of signficance.
a. There is insufficient evidence to reject h^0
Step-by-step explanation:
Data given and notation
represent the sample mean
represent the sample standard deviation
sample size
represent the value that we want to test
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 is lower than 20, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
If we analyze the size for the sample is > 30 but we don't know the population deviation so is better apply a t test to compare the actual mean to the reference value, 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 if the mean is (higher, less or not equal) to an specified value".
Calculate the statistic
We can replace in formula (1) the info given like this:
Part a: P-value
The first step is calculate the degrees of freedom, on this case:
Since is a one sided test the p value would be:
Part b: 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 reject the null hypothesis, and we can conclude that the true mean is not lower than 20 at 1% of signficance.
a. There is insufficient evidence to reject h^0