Answered: Based on information from the…

Name: Based on information from the Statistical Forum, the population mean d
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Description: Based on information from the Statistical Forum, the population mean daily cost of operating a car is $ 18. A random sample of 26 students who own cars found a sample mean operating cost per day of $17.30. The population standard deviation is known 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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Based on information from the Statistical Forum, the population mean daily cost of operating a car is $ 18. A random sample of 26 students who own cars found a sample mean operating cost per day of $17.30. The population standard deviation is known and its value is $3.2. Test the alternative hypothesis that the population mean daily cost of operating a car for all students is lower than the national population average of $18. Use the 1% level of significance.
1) Specify the null and the alternative hypotheses.
2) Compute the Sample Test Statistic for this hypothesis test.
3) Find the -value for this hypothesis test.
4) What is the decision for this hypothesis test.

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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