A market research firm is interested in the amount that households in a certain town spend on groceries each week. The firm believes that the average amount spent per household each week is less than $90. A random sample of 100 households yields a mean of $88 and a standard deviation of $10. Do these data support the firm’s belief? Use P-value to test this claim.

A market research firm is interested in the amount that households in a certain town spend on groceries each week. The firm believes that the average amount spent per household each week is less than $90. A random sample of 100 households yields a mean of $88 and a standard deviation of $10. Do these data support the firm’s belief? Use P-value to test this claim.

Name: A market research firm is interested in the amount that households in
Uploaded: 2024-03-20T07:07:12.000Z
Channel: Bartleby
Description: A market research firm is interested in the amount that households in a certain town spend on groceries each week. The firm believes that the average amount spent per household each week is less than $90. A random sample of 100 households yields a me

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

The average McDonald's restaurant generates $3.6 million in sales each year with a standard deviation of 0.9. Trent wants to know if the average sales generated by McDonald's restaurants in Kentucky is different than the worldwide average. He surveys 27 restaurants in Kentucky and finds the following data (in millions of dollars): 4.1, 2.8, 4.4, 4.5, 5.3, 5, 3.7, 2.9, 3.8, 4.8, 3.6, 2.3, 3.7, 2.9, 2.9, 4, 1.1, 5.2, 2.9, 5, 4, 4, 5.9, 3.2, 2.2, 4.3, 3.8 Perform a hypothesis test using a 3% level of significance. Step 1: State the null and alternative hypotheses. Ho: [? v] ? v На: ? ? v (So we will be performing a Select an answer test.) Step 2: Assuming the null hypothesis is true, determine the features of the distribution of point estimates using the Central Limit Theorem. By the Central Limit Theorem, we know that the point estimates are Select an answer v with distribution mean and distribution standard deviation Step 3: Find the p-value of the point estimate. P( ? v ? v = P( ? ♥ ?…
A hospital president claims that the average Salary of registered nurses at her hospital is more than $57,000. You test this claim by surveying 37 registered nurses at this hospital and find they have a mean salary of $57,425. Assume the population standard deviation is $1750 at the 0.10 level of significance is there enough evidence to support the claim of the hospital president?
The average McDonald's restaurant generates $2.4 million in sales each year with a standard deviation of 0.7. Carissa wants to know if the average sales generated by McDonald's restaurants in New Mexico is different than the worldwide average. She surveys 18 restaurants in New Mexico and finds the following data (in millions of dollars): 2.1, 2, 2.9, 1.7, 1.8, 2.3, 2.1, 2.1, 3.3, 1.4, 1.6, 1.4, 1.4, 2.3, 2.6, 2.7, 2.7, 1.7 Perform a hypothesis test using a 8% level of significance. Step 1: State the null and alternative hypotheses. Ho: pv 2.4 Ha: Ev 2.4 (So we will be performing a two-tailed test.) Step 2: Assuming the null hypothesis is true, determine the features of the distribution of point estimates using the Central Limit Theorem. By the Central Limit Theorem, we know that the point estimates are normally distributed v with and distribution standard deviation distribution mean Step 3: Find the p-value of the point estimate. P(zv [ p-value = Step 4: Make a Conclusion About the…
You may need to use the appropriate technology to answer this question. Data were collected on the top 1,000 financial advisers. Company A had 239 people on the list and another company, Company B, had 121 people on the list. A sample of 16 of the advisers from Company A and 10 of the advisers from Company B showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation of the amount managed by advisers from Company A was s₁ = $583 million. The standard deviation of the amount managed by advisers from Company B was s₂ = $484 million. Conduct a hypothesis test at a = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of funds managed by advisers from the two firms? State the null and alternative hypotheses. 2 2 H₂:0 2 Find the value of the test statistic. (Round your answer…
The hotel room rate in Miami, Florida is normally distributed with a mean of $286 per night. Assume that the standard deviation is unknown. If 19% of the Miami hotel room rates are more than $300 per night, what is the variance?
The manager of a major retail store has taken a random sample of 25 customers. The average sale was $52.50. The population standard deviation is known to be $6.10. The manager would like to determine whether or not the mean sales by all customers are significantly more than $50. What is the p-value for the test?
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?
Airline companies are interested in the consistency of the number of babies on each flight, so that they have adequate safety equipment. They are also interested in the variation of the number of Babies. Suppose that an airline executive believes the standard deviation in the number of babies is 6 at the most. The airline conducts a survey. The results of the 23 flights surveyed give a samle mean of 8 with a sample standard deviation of 9. Test the executive's belief to see if it is accurate, or if it is actually greater at the a = 0.05 level. Ho:o = H:o Select an answer df = P-value = The p-value is... greater than a less than (or equal to) a This test statistic leads to a decision to... reject the null fail to reject the null accept the alternative accept the null As such, the final conclusion is that there Select an answer v sufficient evidence to conclude the standard deviation of the number of babies on airplanes is Select an answer than (?
A newspaper article reports that the mean cost for preventative dental care per year is $175 with a standard deviation of $35 (assume that this is the population standard deviation). You want to test whether the mean cost for preventative dental care in your company is different from what was reported in the article. You take a random sample of 250 employees and find the mean cost is $171. Does this signficantly differ from what was reported in the article? Run the appropriate test at α=0.05. Give each of the following to receive full credit: 1) the appropriate null and alternative hypotheses; 2) the appropriate test; 3) the decision rule; 4) the calculation of the test statistic; and 5) your conclusion including a comparison to alpha or the critical value. You MUST show your work to receive full credit. Partial credit is available.
According to one study, the average hours of sleep on a weeknight for men was 6.9 hours with a standard deviation of 1.5 hours. These hours are normally distributed. c. Find the proportion of men who sleep between 6-8 hours per night. d. Find the number of hours that represents the 90th percentile.
A successful basketball player has a height of 6 feet 11 inches, or 211 cm. Based on statistics from a data set, his height converts to the z score of 5.17. How many standard deviations is his height above the mean?
What percent of people paid over $17,100?