A research article claims that the mean cost of raising a child from birth to age 2 in a rural area is $10,460. You believe this value is incorrect, so you select a random sample of 900 children and find the mean cost is $10,345 with a standard deviation of $1520. Is there enough evidence to conclude that the mean cost is different from $10,460 at 5% level of significance? a. Which of the following statistical tests is most appropriate in this scenario? Two-Tailed Z-Test One-Tailed Z-Test Two-Tailed T-Test One-Tailed T-Test
A research article claims that the mean cost of raising a child from birth to age 2 in a rural area is $10,460. You believe this value is incorrect, so you select a random sample of 900 children and find the mean cost is $10,345 with a standard deviation of $1520. Is there enough evidence to conclude that the mean cost is different from $10,460 at 5% level of significance? a. Which of the following statistical tests is most appropriate in this scenario? Two-Tailed Z-Test One-Tailed Z-Test Two-Tailed T-Test One-Tailed T-Test
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
need the correct answer option only asap plz... only mark the right answer
Transcribed Image Text:A research article claims that the mean cost of raising a child from birth to age 2 in a rural area is $10,460. You believe this value is incorrect, so you select
a random sample of 900 children and find the mean cost is $10,345 with a standard deviation of $1520. Is there enough evidence to conclude that the
mean cost is different from $10,460 at 5% level of significance?
a. Which of the following statistical tests is most appropriate in this scenario?
O Two-Tailed Z-Test
OOne-Tailed Z-Test
Two-Tailed T-Test
One-Tailed T-Test
Transcribed Image Text:b. What are the appropriate hypotheses for the test?
Ho : µ = $10460 H1 : µ # $10460
Ho : µ + $10460 H : µ = $10460
Ho : µ = $10460 H : µ > $10460
Ho : µ = $10460 H : µ < $10460
c. After conducting the appropriate significance test, the test statistic was found to be -2.24.
Therefore, the conclusion for the test is:
Reject Ho, because p-value is less than 0.05
Fail to reject Ho, because -2.24 falls outside the critical region
O Reject H1, because -2.24 falls within the critical region
Fail to reject Ho, because p-value is less than 0.05
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman