Answered: A car company wants to know the monthly…

Name: A. Assuming normality, construct and interpret a 90% confidence interv
Uploaded: 2024-03-20T07:07:12.000Z
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Description: A. Assuming normality, construct and interpret a 90% confidence interval for the average monthly earning from Toyota Vehicles. B. You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Veh

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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A. Assuming normality, construct and interpret a 90% confidence interval for the average monthly earning from Toyota Vehicles.

B. You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicles is equal to $110,000 versus the alternative that it is different from $110,000.
Complete the following:
i. Give the null and alternative hypothesis of this test.
ii. Determine the critical value(s) of this test.

Transcribed Image Text:A car company wants to know the monthly sales made in ($000), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. Exhibit 2 Model N Mean Median Tri.Mean Std Dev S.E. Mean Hyundai 23 109 135 107.64 1.34 Toyota 27 165 124 143.65 9.5 **

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