**7.33 RIDE SHARE PROFITS**Stanford University researchers published an MIT working paper titled “The Economics of Ride Hailing: Driver Revenue, Expenses, and Taxes” (February 2020). One of the objectives of the study was to determine whether ride-share drivers at Uber and Lyft actually make a profit. Data collected from a sample of 1,121 ride-share drivers yielded a mean monthly profit $ \bar{x} = \$661 $ with standard deviation $ s = \$583 $. An Uber executive reports that $ \mu $, the true mean monthly profit of all its ride-share drivers, is \$1,000. You want to test the executive’s figure using $ \alpha = .10 $.a. Set up the null and alternative hypotheses for the test. Assume that you believe the true mean monthly profit is less than \$1,000.b. Find the rejection region for the test.c. Compute the test statistic.d. Use statistical software to find the p-value for the test.e. What is your conclusion? Show that the conclusion is the same whether you use the rejection region or p-value.

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Answered: 7.33 RIDE SHARE PROFITS. Stanford…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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disp hp qsec wt Use the following visualization to answer questions 2 - 4. mpg drat drat mpg qsec wt hp disp -1 -0.8 -0.6-0.4 -0.20 0.2 0.4 0.6 0.8 1
A market research firm used a sample of individuals to rate the purchase potential of a particular product before and after the individuals saw a new television commercial about the product. The purchase potential ratings were based on a 0 to 10 scale, with higher values indicating a higher purchase potential. The null hypothesis stated that the mean rating "after" would be less than or equal to the mean rating "before." Rejection of this hypothesis would show that the commercial improved the mean purchase potential rating. Use a = 0.05 and the following data to test the hypothesis and comment on the value of the commercial. Purchase Rating Individual After Before 1 6 5 6 4 3 7 4 4 3 3 8 8 6 State the null and alternative hypotheses. (Use u, = mean rating after - mean rating before.) O Ho: Hs0 H3: H = 0 O Ho: Hd#0 Hai Hq= 0 O Ho: Hg=0 O Ho: Hd> 0 Calculate the value of the test statistic. (Round your answer to three decimal places.) 1.183 Calculate the p-value. (Round your answer to…
A market research firm used a sample of individuals to rate the purchase potential of a particular product before and after the individuals saw a new television commercial about the product. The purchase potential ratings were based on a 0 to 10 scale, with higher values indicating a higher purchase potential. The null hypothesis stated that the mean rating "after" would be less than or equal to the mean rating "before." Rejection of this hypothesis would show that the commercial improved the mean purchase potential rating. Use a = .05 and the following data to test the hypothesis and comment on the value of the commercial. Purchase Rating Purchase Rating Individual After Before Individual After Before 1 6. 6. 3 2 6. 4 6. 7 8 7 6. 5 4 4 8 6. 6 a. What are the hypotheses? Ho: ld is Select Ha: ld is select b. Compute d (to 3 decimals). Compute sa (to 1 decimal).
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