According to the National Association of Home Builders, the average cost of building a home in the Northeast is $117.91 per square foot. A random sample of 38 new homes indicated that the mean cost was $122.67 and the standard deviation was $16. Can it be concluded that the mean cost differs from $117.91, using the 0.10 level of significance?
State the hypotheses and identify the claim with the correct hypothesis.
:H1>μ145 ▼claim/ not claim?
This hypotheses test is a ▼one-tailed test/two tail?
Find the critical value(s). Round the answer to two decimal places. If there is more than one critical value, separate them with commas.
Critical value(s):
Compute the test value. Always round z score values to two decimal places
Make the decision.
▼reject/Do not reject the null hypothesis.
Summarize the results.
| There ▼(Choose one) enough evidence to support the claim that the mean number of Facebook friends is greater than 145. |
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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