A bank found that in recent years, the average monthly charge on its credit card was $1,300. With an improving economy, they suspect that this amount hasincreased. A sample of 45 customers resulted in an average monthly charge of $1,325.74 with a standard deviation of $182.43 Do these data provide statisticalevidence that the average monthly charge has increased? Formulate the appropriate hypothesis test and draw a conclusion. Use a level of significance of 0.05Is there sufficient evidence at the 0.05 level of significance that the average monthly charge has increased?Determine the null hypothesis, Ho, and the alternative hypothesis, H,.H:(Type whole numbers.)

Answered: Image /qna-images/answer/d9f15190-8ec2-4a40-95b7-9b387baa8177.jpg

Answered: A bank found that in recent years, the…

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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According to Management Accounting, salary figures for certified management accountants (CMAs) who are in the field less than 1 year are normally distributed with a mean of $31,129. A random sample of 15 firstyear CMAs in Denver produces a mean salary of $32,279, with a standard deviation of $1,797. Test the hypothesis that the mean for all Denver firstyear CMAs is not equal to $31,129. Use the .05 level of significance. 1. State the null hypothesis and alternative hypothesis 2.What is the test statistic used for the test (z or t) and it’s critical value (round to 2 places) 3. Determine the p-value. And do you or do you not reject the null hypothesis?
Low-fat or low-carb? Are low-fat diets or low-carb diets more effective for weight loss? A sample of 77 subjects went on a low-carbohydrate diet for six months. At the end of that time, the sample mean weight loss was 4.7 kilograms with a sample standard deviation of 7.16 kilograms. A second sample of 79 subjects went on a low-fat diet. Their sample mean weight loss was 2.6 kilograms with a standard deviation of 5.90 kilograms. Can you conclude that the mean weight loss differs between the two diets? Let 4, denote the mean weight lost on the low-carb diet and u, denote the mean weight lost on the low-fat diet. Use the a = 0.01 level and the TI-84 Plus calculator. Compute the -value. Round the answer to four decimal places. Determine whether to reject H0 State a conclusion
Lawmakers are considering a new tax to discourage cigarette consumption and promote healthy lifestyle choices. Taxes on cigarettes prior to this new legislation tended to average $2.791 with a standard deviation of $0.331. To calculate the new cigarette tax, every observation in the dataset is multiplied by 1.335. What will the new mean be?
An analyst found that the average amount of money in bank accounts at his/her bank is $2,000 with a standard deviation of $150. What would be the variance?
The average time taken for your Internet service provider to remotely resolve a trouble ticket has a Normal distribution with a mean of 4.3 hours and a standard deviation of 3.1 hours. What percent of the time can you expect to wait longer than a full 8-hour business day for a resolution?
The number of orders received daily by an online vendor of used CDs is normally distributed with mean 260 and standard deviation 20. The company has to hire extra help or pay overtime on those days when the number of orders received is 310 or higher. What percentage of days will the company have to hire extra help or pay overtime? Click the icon to view the standard normal distribution table. The company will have to hire extra help or pay overtime on % of days.
I wanted to do a market research study estimating the average hourly wage earned by childcare workers in the bay area. How large does my sample need to be in order to have a margin of error that is less than $0.50 with a 95% confidence in the result. Assume that the standard deviation of the wages is $2 per hour.
A tire manufacturer believes that the tread life of its snow tires can be described by a Normal model with a mean of 32,000 miles and a standard deviation of 2500 miles. Approximately what percent of these snow tires will last between 25,000 and 35,000 miles? Submit response
Dentists believe that a diet low in sugary foods can reduce the number of cavities in children. Ten children whose diets are believed to be high in sugar are examined and the mean number of cavities is 3.63.6 with a standard deviation of 1.31.3. Twenty children whose diets are believed to be low in sugar are examined and the mean number of cavities is 1.01.0 with a standard deviation of 0.30.3. Construct a 99%99% confidence interval for the true difference between the mean numbers of cavities for children whose diets are high in sugar and those whose diets are low in sugar. Assume that the variances of the two populations are the same. Let Population 1 be children whose diets are believed to be high in sugar and Population 2 be children whose diets are believed to be low in sugar. Round the endpoints of the interval to one decimal place, if necessary.

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