5. A random sample of size 12 was taken from a normal population in order to estimate the mean u of the population. The 12 observations were: 163 228 170 200 191 140 215 234 197 185 173 206 for which r 2302 and E 449914. (a) Caleulate a 99% equal-tailed confidence interval for the mean . (b) Test Ho : u = 200 v H : u# 200 at the 1% level of significance by using an appropriate test statistic and critical region. State clearly the conclusion and relate your answer to the confidence interval found in (a). [5) (c) Caleulate the p-value of the observed test statistic in (b) and give its interpreta- tion.
Quadratic Equation
When it comes to the concept of polynomial equations, quadratic equations can be said to be a special case. What does solving a quadratic equation mean? We will understand the quadratics and their types once we are familiar with the polynomial equations and their types.
Demand and Supply Function
The concept of demand and supply is important for various factors. One of them is studying and evaluating the condition of an economy within a given period of time. The analysis or evaluation of the demand side factors are important for the suppliers to understand the consumer behavior. The evaluation of supply side factors is important for the consumers in order to understand that what kind of combination of goods or what kind of goods and services he or she should consume in order to maximize his utility and minimize the cost. Therefore, in microeconomics both of these concepts are extremely important in order to have an idea that what exactly is going on in the economy.
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5. A random sample of size 12 was taken from a normal population in order to estimate
the mean u of the population. The 12 observations were:
163 228 170 200 191 140 215 234 197 185 173 206
for which Er= 2302 and = 449914.
(a) Calculate a 99% equal-tailed confidence interval for the mean u.
(b) Test Ho : u = 200 v H : u + 200 at the 1% level of significance by using an
appropriate test statistic and critical region. State clearly the conclusion and
relate your answer to the confidence interval found in (a).
(e) Calculate the p-value of the observed test statistic in (b) and give its interpreta-
[5]
tion.
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