From a Congressional Research Service (Updated Sept. 13, 2019) on The Social Security Retirement Age: "The Social Security full retirement age (FRA) is the age at which workers can first claim full Social Security retired-worker benefits. Currently, the FRA is 66 and 6 months (66.5 years of age) for workers who become eligible for retirement benefits in 2019 (L.e., workers born in 1957). Claiming benefits before the FRA results in a permanent reduction in monthly benefits (to take into account the longer expected period of benefit receipt); claiming benefits after the FRA results in a permanent increase in monthly benefits (to take into account the shorter expected period of benefit receipt)." A random sample of 20 retirees in 2019 was collected and the age in was recorded in the data set "Retirement Age". Using a = 0.01, is there sufficient evidence to years at which they retired conclude the average age of 2019 retirees is different from the FRA of 66.5 years? Conduct a full hypothesis test by following the steps below. Enter an answer for each of these steps in your document. 1) Define population parameter in context in one sentence, state the null and alternative hypothesis and calculate the test statistics.
From a Congressional Research Service (Updated Sept. 13, 2019) on The Social Security Retirement Age: "The Social Security full retirement age (FRA) is the age at which workers can first claim full Social Security retired-worker benefits. Currently, the FRA is 66 and 6 months (66.5 years of age) for workers who become eligible for retirement benefits in 2019 (L.e., workers born in 1957). Claiming benefits before the FRA results in a permanent reduction in monthly benefits (to take into account the longer expected period of benefit receipt); claiming benefits after the FRA results in a permanent increase in monthly benefits (to take into account the shorter expected period of benefit receipt)." A random sample of 20 retirees in 2019 was collected and the age in was recorded in the data set "Retirement Age". Using a = 0.01, is there sufficient evidence to years at which they retired conclude the average age of 2019 retirees is different from the FRA of 66.5 years? Conduct a full hypothesis test by following the steps below. Enter an answer for each of these steps in your document. 1) Define population parameter in context in one sentence, state the null and alternative hypothesis and calculate the test statistics.
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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Transcribed Image Text:From a Congressional Research Service (Updated Sept. 13, 2019) on The Social Security
Retirement Age:
"The Social Security full retirement age (FRA) is the age at which workers can first claim full Social
Security retired-worker benefits. Currently, the FRA is 66 and 6 months (66.5 years of age) for workers
who become eligible for retirement benefits in 2019 (Le., workers born in 1957). Claiming benefits before
the FRA results in a permanent reduction in monthly benefits (to take into account the longer expected
period of benefit receipt); claiming benefits after the FRA results in a permanent increase in monthly
benefits (to take into account the shorter expected period of benefit receipt)."
A random sample of 20 retirees in 2019 was collected and the age in years at which they retired
was recorded in the data set "Retirement Age". Using a = 0.01, is there sufficient evidence to
conclude the average age of 2019 retirees is different from the FRA of 66.5 years? Conduct a
full hypothesis test by following the steps below. Enter an answer for each of these steps in your
document
1) Define population parameter in context in one sentence, state the null and alternative
hypothesis and calculate the test statistics.
Transcribed Image Text:Row
1
2
3
4
7
8
9
2=991995º9852
13
16
Age of Retirement
63.6
52.8
61,2
60.1
56.9
65.1
63.3
74.8
79.7
51.4
49
64.2
56.8
77.8
60.3
66.5
68.7
var?
var3
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