An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of16 Visa Gold cardholders resulted in a mean household income of $75,650 with a standard deviation of $11,400. A random survey of 7 MasterCard Gold cardholdersresulted in a mean household income of $68,280 with a standard deviation of $10,900. Is there enough evidence to support the executive's claim? Let μ₁ be the truemean household income for Visa Gold cardholders and μ2₂ be the true mean household income for MasterCard Gold cardholders. Use a significance level of a = 0.2for the test. Assume that the population variances are not equal and that the two populations are normally distributed.Step 3 of 4: Determine the decision rule for rejecting the null hypothesis Ho. Round your answer to three decimal places. Reject Ho if

Step 1:IT is Hypothesis test to compare two population means population mean is represented by…

Answered: An advertising executive claims that…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Show your work A stenographer claims that she can take dictation at the rate of 120 words per minute. Can we reject her claim on the basis of 100 trials in which she demonstrates a mean of 116 words with a standard deviation of 15 words? Use 5 per cent level of significance.
Please no written by hand and no emage
Bob Nale is the owner of Nale’s Quick Fill. Bob would like to estimate the mean number of gallons of gasoline sold to his customers. Assume the number of gallons sold follows the normal distribution with a population standard deviation of 1.80 gallons. From his records, he selects a random sample of 80 sales and finds the mean number of gallons sold is 6.90. What is the point estimate of the population mean? (Round your answer to 2 decimal places.) Develop a 95% confidence interval for the population mean. (Use z Distribution Table.) (Round your answers to 2 decimal places.)
Question: Godrej soap manufacturing company was distributing a particular brand of soap through a large number of retail shops. Before a heavy advertisement campaign, the mean sales per week per shop was 140 dozens. After the campaign, a sample of 26 shops was taken and the mean sales was found to be 147 dozens with standard deviation 16. Can you consider the advertisement effective?
Not sure what is the next step
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.
An engineer has designed a valve that will regulate water pressure on an automobile engine. The valve was tested on 190 engines and the mean pressure was 6.0 pounds/square inch (psi). Assume the population standard deviation is 0.8. If the valve was designed to produce a mean pressure of 6.1 psi, is there sufficient evidence at the 0.02 level that the valve does not perform to the specifications? Step 4 of 6: Find the P-value of the test statistic. Round your answer to four decimal places.
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
ou would like to get the highest paying job possible after graduating from UCR and are currently deciding vhether to enroll in ECON 108 in the fall term or not. You find a sample of recent UCR graduates that majc n Economics (there are no double majors in the samples). You sampled 100 Economics majors that took ECON 108 and you find that the average starting salary is 72K dollars, with a sample standard deviation of 10K dollars. You sampled 75 Economics majors that did not take ECON 108 and you find that the average starting salary is 65K dollars, with a sample standard deviation of 15K dollars. Which of the following statements is most correct? O I am not very confident in the results of my hypothesis test because the range in which I fail to reject the null hypothesis is relatively large. O I want to be very confident in the results of my hypothesis test, so the range in which I fail to reject the null hypothesis is relatively large. O The range in which I fail to reject is small, so…
The owner of a large car dealership believes that the financial crisis decreased the number of customers visiting her dealership. The dealership has historically had 800 customers per day. The owner takes a sample of 100 days and finds the average number of customers visiting the dealership per day was 750. Assume that the population standard deviation is 350. The population parameter to be tested is the proportion of customers visiting the dealership per day the standard deviation of the number of customers visiting the dealership per day the average number of 750 customers per day the mean number of customers visiting the dealership per day
A manufacturer fills soda bottles. Periodically the company tests to see if there is a difference between the mean amounts of soda put in bottles of regular cola and diet cola. A random sample of 13 bottles of regular cola has a mean of 497.9 mL of soda with a standard deviation of 3.4 mL. A random sample of 11 bottles of diet cola has a mean of 502.6 mL of soda with a standard deviation of 4.3 mL. Test the claim that there is a difference between the mean fill levels for the two types of soda using a 0.05 level of significance. Assume that both populations are approximately normal and that the population variances are not equal since different machines are used to fill bottles of regular cola and diet cola. Let bottles of regular cola be Population 1 and let bottles of diet cola be Population 2. Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places. Answer 2 Points Кeypad Keyboard Shortcut
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