Answered: A retirement consultant believes most…

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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Question

A retirement consultant believes most people stop working when they are 65. A journalist thinks the mean age is higher than 65. She randomly collects life history data on 10 seniors and finds the ages at which they stopped working was 71, 65, 67, 65, 70, 66, 63, 63, 67, 73. She performs a hypothesis test using a 5% level of significance. The data are assumed to be from a normal distribution. State the null and alternative hypothesis in symbolic form below: H0: HA: Based on HA will this be a right, left or 2 tail test? (Circle one) Since this is a test of a mean with an unknown population standard deviation which distribution should you use for your Hypothesis test? A student distribution (t-score) or a normal distribution (z-score) (Circle one) Find x̅(sample mean): Find s (round to 3 decimal places): Calculate the P-value (round to 3 decimal places): Choose the correct choices for your concluding statement: Since the P-value is __________ (Enter Low or high) We _________________________________hypothesis. (Enter one choice from below) (reject the null, accept the null, fail to reject the null, reject the alternative, or accept the alternative.)

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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