A national online business magazine reports that the average cost of a speeding ticket in Miami, including court fees, is $220. A local police department claims that thisamount has increased. To test their claim, they collect data from a simple random sample of 16 drivers who have been fined for speeding in the last year. Assuming thatthe distribution of speeding ticket costs is normally distributed and the population standard deviation is $14, is there sufficient evidence to support the policedepartment's claim at the 0.02 level of significance?Speeding Ticket Costs in Miami$237 $240$229 $207$221 $235 $247 $234$245 $210 $223 $218$212$241$206$247Copy DataStep 2 of 3: Compute the value of the test statistic. Round your answer to two decimal places.

Answered: Image /qna-images/answer/31d039a0-af54-4ab6-af21-2e22c7be70fa.jpg

Answered: A national online business magazine…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Is it true or false that the least absolute deviations (LAD) estimator minimizes the sum of the absolute value of the population errors.
Question: In a survey of buying habits, 400 women shoppers are chosen at random in super market 'A' located in a certain section of the city. Their average weekly food expenditure is dollar 250 with a standard deviation of Dollar 40. For 400 women shoppers chosen at random in super market 'B' in another section of the city, the average weekly food expenditure is Dollar 220 with a standard deviation of Dollar 55. Test at 1% level of significance whether the average weekly food expenditure of the two populations of shoppers are equal.
Using traditional methods it takes 94 hours to receive an advanced driving license. A new training technique using Computer Aided Instruction (CAI) has been proposed. A researcher used the technique on 120 students and observed that they had a mean of 92 hours. Assume the population standard deviation is known to be 8. Is there evidence at the 0.05 level that the technique reduces the training time? Step 4 of 6 Find the P-value of the test statistic. Round your answer to four decimal places.
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A market researcher states that she has 90% confidence that the mean monthly sales of a product are between $190,000 and $220,000. Explain the meaning of this statement. Choose the correct answer below. O A. If all possible samples of the same size, n= 100, are taken, 90% of those samples will result in a 90% confidence interval that includes the true population mean. Therefore, she is 90% confident that this sample is one that does correctly estimate the mean. O B. A 90% confidence interval contains 90% of the possible sample means. Therefore, she is 90% confident that the interval contains the true population mean. OC. Ifa month was selected, there would be a 90% probability that the mean monthly sales value was within the confidence interval that the researcher found, so the researcher is 90% confident that the true population mean of monthly sales is within the interval. O D. A 90% confidence interval contains 90% of all monthly sales values in the population, so she is 90%…
The Food and Drug Administration has determined that a substance called Melamine poses a health threat when it contaminates food. In fact, it poses a health threat even to dogs when it is in their food. Consequently, the FDA wants to monitor shipments of dog food imported into the country. From previous studies on dog food, the FDA knows that the population mean of Melamine in dog food is 8.0 grams in a 40 pound bag, with a population standard deviation of 1.5 grams. How likely would it be that a random sample of 36 40-pound bags of dog food would have a mean of more than of 8.4 grams of Melamine per bag? All bags have at least 8 grams 0.05 0.50 None of the bags will have less than 8 grams
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In order to make a survey of the buying habits, two markets A and B are chosen at two different parts of a city. 400 women shoppers are chosen at random in market A. Their average daily expenditure on food is found to be dollar 250 with a standard deviation of Dollar 40. The figures are Dollar 220 and Rs. 55 respectively in the market B where also 400 women shoppers are chosen at random. Test at 1% level of significance whether the average daily food expenditures of the two populations of shoppers are equal?
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