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?
Average adult Americans are about one inch taller but nearly a whopping 25 pounds heavier than they were in 1960, according to a report from the Centers for Disease Control and Prevention (CDC). City A is considered one of America's healthiest cities. Is the weight gain since 1960 similar in city A? A sample of n=25 adults suggested a mean increase of 22 pounds with a standard deviation of 9.4 pounds. Is City A significantly different in terms of weight gain since 1960? Complete and interpret 5 step hypothesis testing by hand at a 5% level of significance using a Z-test. Show each step and your work.
Reports on a student's ACT, SAT, or MCAT usually give the percentile as well as the actual score. The percentile is the cumulative proportion stated as a percentage: the percentage of all scores that were lower than this one. In 2019, the scores on the Mathematics portion of the SAT were close to Normal, with mean 528528 and standard deviation 117. Joseph scored 411.411. What was his percentile?
An IQ test has a mean of 96 and a standard deviation of 15. Which is more unusual, an IQ of 81 or an IQ of 120?
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?
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?
A report about how American college students manage their finances includes data from a survey of college students. Each person in a representative sample of 793 college students was asked if they had one or more credit cards and if so, whether they paid their balance in full each month. There were 500 who paid in full each month. For this sample of 500 students, the sample mean credit card balance was reported to be $825. The sample standard deviation of the credit card balances for these 500 students was not reported, but for purposes of this exercise, suppose that it was $205. Is there convincing evidence that college students who pay their credit card balance in full each month have a mean balance that is lower than $907, the value reported for all college students with credit cards? Carry out a hypothesis test using a significance level of 0.01. State the appropriate null and alternative hypotheses. H0: ? = 907 Ha: ? < 907 H0: ? = 907 Ha: ? > 907 H0: ? < 907…
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?
According to Chebyshev's Rule, at least what percent of observations must be within 2.5 standard deviations from the mean? [a]%
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?
What is the relationship between the standard deviation and variance?

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