A nation has a mean household income in 2004 of $43,700 with a standard deviation of $5,110. A random sample of 800 families drawn from one region in that country has a mean income of $38,200. Could this region have a statistically significant lower mean household income than the rest of the nation? Why or why not?Step 1. Formulate a null hypothesis and research hypothesis:H0:H1:Step 2. Collect all the necessary data:Sample size:Sample mean:Population mean:Population standard deviation:Step 3. Decide which test to use:Step 4. Determine the level of significance:Step 5. Calculate the test statistic:Step 6. Compare the test statistic to the critical value:Step 7. Reject, or do not reject, the null hypothesis:State your conclusion:

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Description: A nation has a mean household income in 2004 of $43,700 with a standard deviation of $5,110. A random sample of 800 families drawn from one region in that country has a mean income of $38,200. Could this region have a statistically significant lower

H0:μ=43700H1:μ<43700 (Hint from the question)

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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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A nation has a mean household income in 2004 of $43,700 with a standard deviation of $5,110. A random sample of 800 families drawn from one region in that country has a mean income of $38,200. Could this region have a statistically significant lower mean household income than the rest of the nation? Why or why not?

1. Step 1. Formulate a null hypothesis and research hypothesis:
  - H₀:
  - H₁:
2. Step 2. Collect all the necessary data:
  - Sample size:
  - Sample mean:
  - Population mean:
  - Population standard deviation:
3. Step 3. Decide which test to use:
4. Step 4. Determine the level of significance:
5. Step 5. Calculate the test statistic:
6. Step 6. Compare the test statistic to the critical value:
7. Step 7. Reject, or do not reject, the null hypothesis:
8. State your conclusion:

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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