**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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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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