Tina and Ed do odd jobs in their neighborhood to earn money. Last week Tina earned $2.50 less than twice what Ed earned. How muc
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Mean = 12000
Standard Deviation = 2000
We have to find how many standard deviations is 14,500 away from the mean.
This can be achieved by calculating the z-score
Z-score tells us how many standard deviations above or below is a sample value from the mean. A positive z value shows, sample value is above the mean.
z score can be calculated as = (Sample Value - Mean )/Standard Deviation)
So,
Z-score =
This means, 14,500 is 1.25 standard deviations above the mean value 12,000.
Standard Deviation = 2000
We have to find how many standard deviations is 14,500 away from the mean.
This can be achieved by calculating the z-score
Z-score tells us how many standard deviations above or below is a sample value from the mean. A positive z value shows, sample value is above the mean.
z score can be calculated as = (Sample Value - Mean )/Standard Deviation)
So,
Z-score =
This means, 14,500 is 1.25 standard deviations above the mean value 12,000.
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 reject the null hypothesis, and we can conclude that the true mean differs from 24 at 5% of significance
Step-by-step explanation:
Data given and notation
represent the sample mean
represent the sample population deviation for the sample
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 true mean is different from 24, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
If we analyze the size for the sample is < 30 but we know the population deviation so is better apply a z test to compare the actual mean to the reference value, and the statistic is given by:
(1)
z-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:
P-value
Since is a two sided test the p value would be:
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 reject the null hypothesis, and we can conclude that the true mean differs from 24 at 5% of significance