In a study entitled How Undergraduate Students Use Credit Cards, Sallie Mae reported that undergraduate students have a mean credit card balance of $3014.This figure was an all-time high and had increased 46% over the previous five years. Assume that a current study is being conducted to determine if it can beconcluded that the mean credit card balance for undergraduate students has continued to increase compared to the April 2009 report. Based on previousstudies, use a population standard deviation = $1500.a. State the null and alternative hypotheses.Ho: s3014H₂>3014b. What is the p-value for a sample of 130 undergraduate students with a sample mean credit card balance of $32687 If your answer is zero enter "0",value(to 2 decimals)p-value(to 4 decimals)c. Using a 0.01 level of significance, what is your conclusion?Do not reject null hypothesisConclude that student mean credit card debt is smallerthan $3014 AConsider the following hypothesis test:Ho: μ < 12H„: μ > 12= 14 and a sample standard deviation s = 4.32.A sample of 25 provided a sample meana. Compute the value of the test statistic (to 2 decimals).b. Use the t distribution table (Table 2 in Appendix B) to compute a range for the p-value.The p-value is between 0.01 and 0.025c. At a= 0.05, what is your conclusion?Reject null hypothesisd. What is the rejection rule using the critical value? (Use a = 0.05.)Reject Ho if t is greater than or equal tothe critical value ofCan you conclude that the population mean is greater than 12?Yes(to 3 decimals).

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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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An article in the San Jose Mercury News stated that students in the California state universitysystem take 4.25 years, on average, to finish their undergraduate degrees. Suppose you believe that the mean time is longer. You conduct a survey of 64 students and obtain a sample mean of 4.5 with a sample standard deviation of 1.5. Do the data support your claim at the 1% level?
Solar energy is considered by many to be the energy of the future. A recent survey was taken to compare the cost of solar energy to the cost of gas or electric energy. Results of the survey revealed that the distribution of the amount of the monthly utility bill of a three-bedroom house using gas or electric energy had a mean of $117 and a standard deviation of $13. If the distribution can be considered normal: Approximately what percentage of homes will have a monthly utility bill less than $78? Note: Do NOT include the "%" sign Do NOT round any decimals, if applicable
In a survey of women in Canada, the mean height was 65 inches with a standard deviation of3 inches. What height represents the 90th percentile?
Lawmakers are considering a new tax to discourage cigarette consumption and promote healthy lifestyle choices. Taxes on cigarettes prior to this new legislation tended to average $2.791 with a standard deviation of $0.331. To calculate the new cigarette tax, every observation in the dataset is multiplied by 1.335. What will the new mean be?
A sample of 281 Al products sold at The Yes Buy located at Finch and Keele has a mean of $74.83 and a median of $68.88. Later, it was discovered that an observation which was recorded incorrectly as "$90.25" but the actual value should be "$95.75". If we make this correction to the data, then what is the sample mean, median, mode and standard deviation?
An article by Erin El Issa titled "2015 American household credit card debt study" (www.nerdwallet.com) indicated that for households that had credit card debt, the average debt in 2015 was $15,355. Assume that credit card debt per household has a normal distribution with a standard deviation of $3,000. (A) Determine the percentage of households that have a credit card debt of more than $15,000. Answer: The percentage is % (use 2 decimal places) (B) One household has a credit card debt that is at the 95th percentile. Determine its credit card debt. Answer: The credit card debit is $ Espacio en Blanco 1: Espacio en Blanco 2: Ku
An analyst found that the average amount of money in bank accounts at his/her bank is $2,000 with a standard deviation of $150. What would be the variance?
1) According to Consumer Expenditures, the average consumer spent $1729 on apparel and services in 2017. In 2018, a random sample of 36 consumers had a mean of $1667.11 and a standard deviation of $351.69. Can it be said that at the 5% level of significance that the mean level of consumption differed in 2018 with respect to 2017?
A newspaper article reports that the mean cost for preventative dental care per year is $175 with a standard deviation of $35 (assume that this is the population standard deviation). You want to test whether the mean cost for preventative dental care in your company is different from what was reported in the article. You take a random sample of 250 employees and find the mean cost is $171. Does this signficantly differ from what was reported in the article? Run the appropriate test at α=0.05. Give each of the following to receive full credit: 1) the appropriate null and alternative hypotheses; 2) the appropriate test; 3) the decision rule; 4) the calculation of the test statistic; and 5) your conclusion including a comparison to alpha or the critical value. You MUST show your work to receive full credit. Partial credit is available.
Suppose there is a city where the mean cost per month of a one-bedroom apartment is $1,500, with a standard deviation of $250. Approximately what percentage of one-bedroom apartments in the city cost between $750 and $1,000?
If the coefficient of variation for a data is given as 35%, and the standard deviation for the same data is 32. What is the mean?
Is it worth pursuing a doctoral degree in education if you already have an undergraduate degree? One way to help make this decision is to look at the mean incomes of these two groups. Suppose that 11 people with bachelor’s degrees in education were surveyed. Their mean annual salary was $45,000 with a standard deviation of $9700. Seventeen people with doctoral degrees in education were found to have a mean annual salary of $31,000 with a standard deviation of $10,000. Assume that the population variances are not the same. Construct a 95% confidence interval to estimate the true difference between the mean salaries for people with doctoral degrees and undergraduate degrees in education. Let Population 1 be the salaries for people with doctoral degrees and Population 2 be the salaries for people with undergraduate degrees. Round the endpoints of the interval to the nearest whole number, if necessary. LOWER AND UPPER ENDPOINT

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