art a, b and c were already answered. I just need part (d) please Attached the solution for the first 3 parts
art a, b and c were already answered. I just need part (d) please Attached the solution for the first 3 parts
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
Concept explainers
Equations and Inequations
Equations and inequalities describe the relationship between two mathematical expressions.
Linear Functions
A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.
Question
Part a, b and c were already answered. I just need part (d) please
Attached the solution for the first 3 parts
Transcribed Image Text:A 2008 survey of low- and middle-income households conducted by Demos, a liberal public group,
showed that consumers aged 65 years and older had an average credit card debt of $11,535 and
consumers in the 50- to 64-year age group had an average credit card debt of $10642 at the time of the
survey (USA TODAY, July 28, 2009). Suppose that these averages were based on random samples of
1000 and 1200 people for the two groups, respectively. Further assume that the population standard
deviations for the two groups were $2200 and $2500, respectively. Let ul and µ2 be the respective
population means for the two groups, people aged 65 years and older and people in the 50- to 64-year
age group.
(a) What is the point estimate of u1- p2?
(b) Construct 98% confidence interval for u1 – µ2 and interpret the results.
(c) What is the margin of error?
(d) Conduct the appropriate two-tailed test at 5% level of significance.
Expert Answer
Step 1
Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If
you want remaining sub-parts to be solved, then please resubmit the whole question and
specify those sub-parts you want us to solve.
Step 2
We have 2 groups. Group -1 consists of people aged 65 years and more. Group -2 consists of
people aged 50-64 years.
Average credit card debt for sample of Group-1 = $ 11535.
Average credit card debt for sample of Group-2 = S 10642.
Sample ,n1 =1000 and Sample, n2 = 1200.
Population SDs for Group 1 = $ 2200 and for Group 2 = $ 2500.
(a) The point estimate for difference in population means is given by the difference in sample
means.
Thus, Point estimate of µ – 42 is ; -.
So, Point estimate( ui – p2) = $I1535 – $10642 = $893
![Step 3
(b) Now, here the population standard deviations are given and the sample size is large (>30),
hence we need to calculate the critical values of Z-statistic at alpha = 0.02.
The confidence interval at 98% confidence level is given by,
tn-2
(부+ 부)
Now,
(-1)i+(-1'a
(부+ ):
t-2
(999x2200")+(1199x2500")
1000+1200-2
T200)
1000
= 10283. 44
Thus,
[893 + Z% V10283.44
= [893 + 2.326 x 101.41]
= [S657. 13, $1128. 87]
Step 4
(c) The margin oferror is given by;
(m-1)+(-1)2
Z% V
(++)
t-2
= 2. 326 x V10283. 44
= 2.326 x 101.407
= $235. 87](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fab2bb39a-0775-40ce-9d1b-5b3fe093971a%2Fcc6951ca-34d4-43e1-8e25-f2780ccee277%2Ftqzb0g8_processed.png&w=3840&q=75)
Transcribed Image Text:Step 3
(b) Now, here the population standard deviations are given and the sample size is large (>30),
hence we need to calculate the critical values of Z-statistic at alpha = 0.02.
The confidence interval at 98% confidence level is given by,
tn-2
(부+ 부)
Now,
(-1)i+(-1'a
(부+ ):
t-2
(999x2200")+(1199x2500")
1000+1200-2
T200)
1000
= 10283. 44
Thus,
[893 + Z% V10283.44
= [893 + 2.326 x 101.41]
= [S657. 13, $1128. 87]
Step 4
(c) The margin oferror is given by;
(m-1)+(-1)2
Z% V
(++)
t-2
= 2. 326 x V10283. 44
= 2.326 x 101.407
= $235. 87
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 2 steps with 5 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.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