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Business owners retire at a different average age age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 65, 59, 58, 62, 60, 62, 58, 69, 59, 62, 71, 68, 76, 57 What can be concluded at the the a= 0.05 level of significance level of significance? a. For this study, we should use t-test for a population mean b. The null and alternative hypotheses would be: Ho: H₁: O c. The test statistic to O 63 63 d. The p-value e. The p-value is > a f. Based on this, we should (fail to reject g. Thus, the final conclusion is that ... O = 0.187 (please show your answer to 3 decimal places.) Add Wal = 0.8545 (Please show your answer to 4 decimal places.) the null hypothesis. O The data suggest the population mean retirement age for small business owners is not significantly different from 63 at a = 0.05, so there is insufficient evidence to conclude that the population mean retirement age for small business owners is different from 63. O The data suggest the population mean is not significantly different from 63 at a = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is equal to 63. O The data suggest the populaton mean is significantly different from 63 at a = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is different from 63.

Business owners retire at a different average age age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 65, 59, 58, 62, 60, 62, 58, 69, 59, 62, 71, 68, 76, 57 What can be concluded at the the a= 0.05 level of significance level of significance? a. For this study, we should use t-test for a population mean b. The null and alternative hypotheses would be: Ho: H₁: O c. The test statistic to O 63 63 d. The p-value e. The p-value is > a f. Based on this, we should (fail to reject g. Thus, the final conclusion is that ... O = 0.187 (please show your answer to 3 decimal places.) Add Wal = 0.8545 (Please show your answer to 4 decimal places.) the null hypothesis. O The data suggest the population mean retirement age for small business owners is not significantly different from 63 at a = 0.05, so there is insufficient evidence to conclude that the population mean retirement age for small business owners is different from 63. O The data suggest the population mean is not significantly different from 63 at a = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is equal to 63. O The data suggest the populaton mean is significantly different from 63 at a = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is different from 63.

MATLAB: An Introduction with Applications
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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The average retirement age in America is 63 years old. Do small business owners retire at a different average age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 65, 59, 58, 62, 60, 62, 58, 69, 59, 62, 71, 68, 76, 57 What can be concluded at the the a = 0.05 level of significance level of significance? a. For this study, we should use t-test for a population mean b. The null and alternative hypotheses would be: Ho: H₁: μ # 63 c. The test statistic to 0.187 (please show your answer to 3 decimal places.) (Please show your answer to 4 decimal places.) d. The p-value = 0.8545 e. The p-value is > α f. Based on this, we should fail to reject g. Thus, the final conclusion is that ... 63 Add Work the null hypothesis. The data suggest the population mean retirement age for small business owners is not significantly different from 63 at a = 0.05, so there is insufficient evidence to conclude that the population mean retirement age for small business owners is different from 63. O The data suggest the population mean is not significantly different from 63 at a = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is equal to 63. > Next Question O The data suggest the populaton mean is significantly different from 63 at a = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is different from 63.
Transcribed Image Text:The average retirement age in America is 63 years old. Do small business owners retire at a different average age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 65, 59, 58, 62, 60, 62, 58, 69, 59, 62, 71, 68, 76, 57 What can be concluded at the the a = 0.05 level of significance level of significance? a. For this study, we should use t-test for a population mean b. The null and alternative hypotheses would be: Ho: H₁: μ # 63 c. The test statistic to 0.187 (please show your answer to 3 decimal places.) (Please show your answer to 4 decimal places.) d. The p-value = 0.8545 e. The p-value is > α f. Based on this, we should fail to reject g. Thus, the final conclusion is that ... 63 Add Work the null hypothesis. The data suggest the population mean retirement age for small business owners is not significantly different from 63 at a = 0.05, so there is insufficient evidence to conclude that the population mean retirement age for small business owners is different from 63. O The data suggest the population mean is not significantly different from 63 at a = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is equal to 63. > Next Question O The data suggest the populaton mean is significantly different from 63 at a = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is different from 63.
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