https://padlet.com/dolphineho/ev2cufbetatosegr en-us 2020-12-03 13:15:50 UTC 2020-12-04 01:12:39 UTC hello@padlet.com dolphineho https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512893 An entrepreneur is considering the purchase of a coin-operated laundry. The present owner claims that over the past 5 years, the average daily revenue was $675 with a standard deviation of $75. A sample of 30 days reveals a daily average revenue of $625. If you were to test the null hypothesis that the daily average revenue was $675, which test would you use?]]> 2020-12-03 13:15:50 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512893 dolphineho https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512897 A manager of the credit department for an oil company would like to determine whether the average monthly balance of credit card holders is equal to $75. An auditor selects a random sample of 100 accounts and finds that the average owed is $83.40 with a sample standard deviation of $23.65. If you wanted to test whether the auditor should conclude that there is evidence that the average balance is different from $75, which test would you use?]]> 2020-12-03 13:15:50 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512897 dolphineho https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512900 The owner of a local nightclub has recently surveyed a random sample of n = 250 customers of the club. She would now like to determine whether or not the mean age of her customers is over 30. If so, she plans to alter the entertainment to appeal to an older crowd. If not, no entertainment changes will be made. The appropriate hypotheses to test are:]]> 2020-12-03 13:15:50 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512900 dolphineho https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512902 The owner of a local nightclub has recently surveyed a random sample of n = 250 customers of the club. She would now like to determine whether or not the mean age of her customers is over 30 with a standard deviation of 5 years. If so, she plans to alter the entertainment to appeal to an older crowd. If not, no entertainment changes will be made. Suppose she found that the sample mean was 30.45 years and the sample . What is the p value associated with the test statistic?]]> 2020-12-03 13:15:50 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512902 dolphineho https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512905 The owner of a local nightclub has recently surveyed a random sample of n = 250 customers of the club. She would now like to determine whether or not the mean age of her customers is over 30. If so, she plans to alter the entertainment to appeal to an older crowd. If not, no entertainment changes will be made. The appropriate hypotheses to test are:]]> 2020-12-03 13:15:50 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512905 dolphineho https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512907 56. A manager of the credit department for an oil company would like to determine whether the average monthly balance of credit card holders is equal to $75. An auditor selects a random sample of 100 accounts and finds that the average owed is $83.40 with a sample standard deviation of $23.65. If you wanted to test whether the auditor should conclude that there is evidence that the average balance is different from $75, which test would you use?]]> 2020-12-03 13:15:50 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/983512907 https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986171440 2020-12-04 00:38:08 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986171440 https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986172098 2020-12-04 00:38:26 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986172098 https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986173593 null hypothesis: average age of customers is 30 (mu=30)
alternative hypothesis: average age of customers is over 30 (mu>30)]]> 2020-12-04 00:39:07 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986173593 https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986175868 H0: The average monthly balance of credit card holder is $75 (mu = $75)
h1: the average monthly balance of credit card is not $75 (mu |= $75)
std dev: $23.65
z: ($83.40 - $75)/ (23.65/sqrt 100)
z:
P(]]> 2020-12-04 00:40:11 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986175868 19044315 https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986181212 H0: Age of customers is 30. (mu = 30)
H1: Age of customer is over 30. (mu > 30)]]> 2020-12-04 00:42:28 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986181212 190371651 https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986228577 z value = (x bar - mu) / (sd / sqrtn) = (30.45 - 30) / (5 / sqrt 250) = 1.42
Based on z table = 0.4222]]> 2020-12-04 01:03:59 UTC https://padlet.com/dolphineho/ev2cufbetatosegr/wish/986228577