Is this correct? If not can someone please explain to me why it’s wrong or how i can fix it?
2 answers:
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Using the given linear function, it is found that the slope is of 73, which means that for each traffic ticket, the cost of car insurance increases by $73.
<h3>What is a linear function?</h3>A linear function is modeled by:
In which:
- m is the slope, which is the rate of change, that is, by how much y changes when x changes by 1.
- b is the y-intercept, which is the value of y when x = 0.
In this problem:
- x represents the number of traffic tickets.
- y represents the cost of car insurance.
The function is:
Hence the slope is of 73, which means that for each traffic ticket, the cost of car insurance increases by $73.
You can learn more about linear functions at brainly.com/question/25823744
Answer:
a)
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 we can conclude that the true mean is not different from 410 at 5% of signficance.
b)
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 is significantly different from 410 at 5% of signficance.
Step-by-step explanation:
Part a
Data given and notation
represent the sample mean
represent the population standard deviation
sample size
represent the value that we want to test
represent the significance level for the hypothesis test.
z 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 differs from 410, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
Since we know the population deviation, 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 FAIL to reject the null hypothesis, and we can conclude that the true mean is not different from 410 at 5% of signficance.
Part b
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 is significantly different from 410 at 5% of signficance.