1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ra1l [238]
3 years ago
7

A sample of 64 account balances from a credit company showed an average daily balance of $1,040. The standard deviation of the p

opulation is known to be $200. We are interested in determining if the mean of all account balances (i.e., population mean) is significantly different from $1,000. 1. State the null and alternative hypothesis. 2. Compute the test statistic. 3. Compute the p-value. 4. Based on the p-value and the significance level of 0.05% make a decision regarding the hypotheses. 5. Interpret your results in the context of the problem.
Mathematics
1 answer:
Alexandra [31]3 years ago
3 0

Answer:

See step by step exlanation

Step-by-step explanation:

Assuming normal distribution

N( μ₀ , σ )

In this case N ( 1000, 200)

From a random sample of 64 accounts we get:

n  = 64

x = sample mean      x = 1040

σ = standard deviation of the population     σ = 200

1.-Test Hypothesis

Null Hypothesis               H₀          x =  μ₀ = 1000

Alternative Hypothesis    Hₐ          x ≠ μ₀    

The alternative hypothesis implies a two tail-test. Given that  n > 30 and σ is known we will use z-table

2.-  z(s) = ( x  - μ₀ ) / σ/√n

z(s) = ( 1040 - 1000 ) / 200/ √64

z(s) = 40*8/200

z(s) = 1,6

3.-P-val for  z (score 1,6)     p-value = 0,0548

4.- If significance level is 0,05  then  α = 0,05  and   α/2 = 0,025

p-value >  α/2        

Then  the z(s) < z(c)      1,6 < 1,96            where  z(c) is z score for α/2

We should accept H₀  

5.-We can claim that at 95 % (of Confidence Interval) the population mean is not significantly  different from 1000 $

You might be interested in
FREE BRAINLIEST &amp; 50 points bc im nice &lt;3
Ostrovityanka [42]
YAY HAHA!!! YAY YAY YAY
6 0
2 years ago
Read 2 more answers
‼️ WILL LIST BRAINLIEST ‼️ -5/6 x -3/4​
ella [17]

Answer:

5/8

that's the answer:)

6 0
3 years ago
Read 2 more answers
A snow globe with a radius of 2 cm. Find the volume of the globe.
sp2606 [1]
The approximate volume is 33.5103217
The exact volume is 32/3cm 
so the answers would be 32/3 or 33.49
3 0
3 years ago
Recall that two angles are complementary if the sum of their measures is 90degrees°. Find the measures of two complementary angl
Law Incorporation [45]

Answer:

90degrees

Step-by-step explanation:

The sum of complimentary angles will always be 90degrees

4 0
3 years ago
Sin x = cos 53∘ What is the value of x?
love history [14]
Try this solution:
according to the rule sin(90-y)=cos(y), it is possible to re-write the given equation:
sin(90-y)=cos53°, where 90-y=x.
Then substituting the value y=53° into the equation 90-y=x, it is possible to find the 'x': 90-53=37°.

answer: 37°
4 0
2 years ago
Other questions:
  • What is the correlation coefficient with the following data points: (15,36), (13,22), (12,6), (11,20)?
    13·1 answer
  • Estimate. Then find the difference of <br> 627<br> - 253
    13·2 answers
  • The sum of two polynomials each of the degree 8 will be degree 8 true or false
    5·1 answer
  • Please need help on this
    7·1 answer
  • SUPER ULTRA MEGA IMPORTANT QUESTION!!!! IF YOU CAN ANSWER THIS CORRECTLY I WILL GIVE YOU 100 POINTS BUT IF YOU DON'T ANSWER IT C
    8·1 answer
  • A tourist from Britain wants to exchange her British pounds for US dollar. She has 25 British pounds. How many US dollars would
    10·1 answer
  • 9. DOG WALKING Evan, a dog walker, charges $3 every block that he walks a dog. He also charges a $5 pick up fee when he comes to
    9·1 answer
  • After analyzing a data set using the one-way ANOVA model, the same data are analyzed using the randomized block design ANOVA mod
    10·1 answer
  • PLEASE HELP QUICK i dont need work to be shown
    11·1 answer
  • In this problem you will compare the effects of different compounding periods on the interest an investment earns. Complete the
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!