Drive Ch. 9 Handout 2_revised 202 Mejia, Andrew Ch.9 Quiz A X Essentials of Modern Business X + 618196/sp/53489888/mi/226257925?cfi-%2F4%2F8 University... EMy Library Brytew.. 6 Mail - Mejia Andre... Microsoft Office H... P University of Hous.. e UHV Library - Ho... НЕ age these individuals receive lower refunds than do early filers. Develop appropriate hypotheses such that rejection of H, will support the researcher's contention. b. For a sample of 400 individuals who filed a tax return between April 10 and 15, the sample mean refund was $910. Based on prior experience, a population standard devia- tion of o = $1600 may be assumed. What is the p-value? At a = .05, what is your conclusion? c. d. Repeat the preceding hypothesis test using the critical value approach. 16. In a study entitled How Undergraduate Students Use Credit Cards, Sallie Mae reported that undergraduate students have a mean credit card balance of $3173. This figure was an all-time high and had increased 44% over the previous five years. Assume that a current study is being conducted to determine whether it can be concluded that the mean credit card balance for undergraduate students has continued to increase compared to the April 2009 report. Based on previous studies, use a population standard deviation o = S1000. State the null and alternative hypotheses. b. What is the p-value for a sample of 180 undergraduate students with a sample mean credit card balance of $3325? Using a .05 level of significance, what is your conclusion? a. c. The mean hourly wage for employees in goods-producing industries is $24.57 (Bureau of Labor Statistics website, April 12, 2012). Suppose we take a sample of employees from the manufacturing industry to see if the mean hourly wage differs from the reported mean of $24.57 for the goods-producing industries. State the null and alternative hypotheses we should use to test whether the population mean hourly wage in the manufacturing industry differs from the population mean hourly wage in the goods-producing industries. b. Suppose a sample of 30 employees from the manufacturing industry showed a sample 17. a.

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.