According to a money report by a government institution, 18-to-20-year-old college students have an average credit card balance of $569. A researcher wants to find out if this number is lower nowand collects data for a random sample of 40 college students. Their average credit card debt was found to be $546 with a sample standard deviation of $67.25. Complete parts a through c....a. Using a = 0.05, does this sample provide enough evidence to conclude that the average credit card balance of 18-to-20-year-old college students has decreased since 2016?Determine the null and alternative hypotheses.Ho: H 2%3D(Type integers or decimals. Do not round. Do not include the $ symbol in your answers.)

Answered: According to a money report by a…

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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Suppose that the cost of annual tuition at colleges is normally distributed, with an average annual cost of $13,926.78. The standard deviation of tuition is $4,085.42. What proportion of colleges would be expected to have an annual tuition between the cost of College A with a tuition of $20,106.18 and College B with a tuition of $14,829.01?
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…
An instructor claims that the average number of hours needed to study for a final exam in order to pass should be 5 hours. A student believes that the instructor is understating the number of hours needed to pass and surveys 36 students and finds the sample mean and standard deviation to be 5.7 and 1.5 hours respectively. Test the instructors claim at a .10 level.
Lawmakers are considering a new tax to discourage cigarette consumption and promote healthy lifestyle choices. Taxes on cigarettes prior to this new legislation tended to average $2.791 with a standard deviation of $0.331. To calculate the new cigarette tax, every observation in the dataset is multiplied by 1.335. What will the new mean be?
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?
A criminologist rode along with patrol officers for several weeks and recorded the number of minutes police officers spent interviewing witness at a variety of crime scenes. Using data collected on a group of 35 patrol officers, she observes an average interviewing time of 307 minutes. Assume that the population standard deviation a is estimated to be 83 minutes. What is the point estimate for the population mean, p? minutes Submit Question
A real estate company, We Rent Houses, regularly conducts survey for average rents in Tampa Bay Area. According to its latest survey, the sample mean rent in 2019 was $950 for Pasco County and $1160 in Hillsborough County. Assume the survey sampled rents for 160 rental units in each County. Also, assume the standard deviation in rents based on the survey was $175 in Pasco County and $230 in Hillsborough County. Compute the valued mannually. a. Calculate a 95% confidence interval for the population mean rent for Hillsborough County. Provide an interpretation of the confidence interval. b. Calculate a 95% confidence interval for the population mean for Pasco County. Interpret. c. Is it possible that the population mean rent in Pasco County is higher than that in Hillsborough County? Explain.
A college in the northeastern United States used SAT scores to help decide which applicants to admit. To determine whether the SAT was useful in predicting success, the college examined the relationship between the SAT scores and first-year GPAs of admitted students. The average math SAT score of a sample of 200 randomly selected students was 649.5 with a standard deviation of 66.2. The average GPA of the same students was 2.63 with a standard deviation of 0.58. The correlation between GPA and math SAT score was 0.19. (a) What does the correlation of 0.19 tell us about SAT scores and GPA scores? (You need to provide two answers.)(b) Find the equation of the least squares regression line.(c) Using the equation, predict the GPA score of a person with a math SAT score of 650.(d) Using the equation, predict the GPA score for a person with a math score of 800.
The USA Today reports that the average expenditure on Valentine's Day is $100.89. Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 45 male consumers was $135.67, and the average expenditure in a sample survey of 32 female consumers was $68.64. Based on past surveys, the standard deviation for male consumers is assumed to be $34, and the standard deviation for female consumers is assumed to be $20. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females (to 2 decimals)? At 99% confidence, what is the margin of error (to 2 decimals)? Develop a 99% confidence interval for the difference between the two population means (to 2 decimals). Use z-table.( , )
According to the Bureau of Labor Statistics, the mean salary for registered nurses in Kentucky was $57,688. The distribution of salaries is assumed to be normally distributed with a standard deviation of $5,879. Someone would like to determine if registered nurses in Ohio have a greater average pay. To investigate this claim, a sample of 192 registered nurses is selected from the Ohio Board of Nursing, and each is asked their annual salary. The mean salary for this sample of 192 nurses is found to be $58,016.005. 1. Completely describe the sampling distribution of the sample mean salary when samples of size 192 are selected. 2. What conjecture has been made? 3. Using the distribution described in part a, what is the probability of observing a sample mean of 58,016.005 or more? 4. Based on the probability found, what conclusion can be reached?

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