In the midst of labor-management negotiations, the president of a company argues that thecompany's blue-collar workers, who are paid an average of $43,000 per year, are well paidbecause the mean annual income of all blue-collar workers in the country is less than$43,000. That figure is disputed by the union, which does not believe that the mean blue-collar income is less than $43,000. To test the company president's belief, an arbitratordraws a random sample of 225 blue-collar workers from across the country and asks each.to report his or her annual income. The sample mean annual income of the 225 randomlyselected blue-collar workers was $43,318. Assume that the population standard deviation is$5,000. Can it be inferred at the 5% significance level that the company president iscorrect?1. To test: Ho: H2. Test Statistic (Round to 3 decimals): z =3. p-value (Round to 3 decimals):vs. Ha: HConclusion: At a =do not reject Hoinsufficient evidence to conclude that theblue-collar workers is less thansince p-value >population meandollars.a. We haveannual income ofTherefore, there is not enough evidence to infer that the company president iscorrect

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Answered: In the midst of labor-management…

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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Professional athletes are threatening to strike because they claim that they are underpaid. The team owners have released a statement that says, “The average salary for players was $1.2 million last year.” The players counter with their own statement that says, in part, “The average players earned only $750,000 last year.” Is either side necessarily lying? Hearing this on the news, what questions would you ask about these statistics?
1)Should you use the median or mean to describe a data set if the data are not skewed? 2) You may read in the newspaper that a study of a new drug for cancer “increased survival by an average of 8weeks.” It turns out that this is a median, and it is used for complicated statistical reasons. But in a perfectworld, would you prefer to know the increase in mean or median survival? 3) If the median house price is $1.9m, does that necessarily mean that half of the houses on the block areworth less than $1.9m and half worth more?
Socially conscious investors screen out stocks of alcohol and tobacco makers, firms with poor environmental records, and companies with poor labor practices. Some examples of "good," socially conscious companies are Johnson and Johnson, Dell Computers, Bank of America, and Home Depot. The question is, are such stocks overpriced? One measure of value is the P/E, or price-to-earnings ratio. High P/E ratios may indicate a stock is overpriced. For the S&P Stock Index of all major stocks, the mean P/E ratio is u 19.4. A random sample of 31 "socially conscious" stocks gave a P/E ratio sample mean of x 18.3, with sample standard deviation s = 4.2. At a 10% level of significance does this indicate that the mean P/E ratio of all socially conscious stocks is different (either way) from the mean P/E ratio of the S&P Stock Index? = = What distribution will be used for this test? Student's t Is this test right-tailed, left-tailed, or two-tailed? two-tailed Using the critical region method which…
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The Transportation Security Administration (TSA) collects data on wait time at each of its airport security checkpoints. For flights departing from Terminal 3 at John F. Kennedy International Airport (JFK) between 3:00 and 4:00 PM on Wednesday, the mean wait time is 12 minutes, and the maximum wait time is 16 minutes. [Source: Transportation Security Administration, summary statistics based on historical data collected between February 18, 2008, and March 17, 2008.]
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The U.S. Census Bureau serves as the leading source of quantitative data about the na- tion's people and economy. The following crosstabulation shows the number of house- holds (1000s) and the household income by the highest level of education for the head of household (U.S. Census Bureau website, 2013). Only households in which the head has a high school diploma or more are included.
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You saw back in Chapter 2 that the mean, median, mode, and midrange are used to indicate where data is centered in a data set, or in other words what a typical value in the set is. A question that is often asked is, "If they're all supposed to do the same thing, why is there more than one?" Isn't one enough? In this exercise, you will be given two small sets of data. For each set, a. find the mean, median, mode and midrange b. in your opinion, decide which of the measures BEST represents all the values in the set (best indicates a typical value), and which one does this the WORST. c. post your responses and justify them by explaining why Don't forget to respond to at least one of your classmate's posts. With this exercise, "more is better." I'll elaborate after the deadline. • Set A: the salaries of 10 employees at a company (in thousands of dollars): 50, 50, 50, 50, 50, 50, 50, 50, 50, 500 • Set B: the grades of 9 students on an exam: 20, 25, 30, 35, 40, 45, 100, 100, 100
Socially conscious investors screen out stocks of alcohol and tobacco makers, firms with poor environmental records, and companies with poor labor practices. Some examples of "good," socially conscious companies are Johnson and Johnson, Dell Computers, Bank of America, and Home Depot. The question is, are such stocks overpriced? One measure of value is the P/E, or price-to-earnings ratio. High P/E ratios may indicate a stock is overpriced. For the S&P Stock Index of all major stocks, the mean P/E ratio is μ = 19.4. A random sample of 36 "socially conscious" stocks gave a P/E ratio sample mean of x = 17.7, with sample standard deviation s = 5.4. Does this indicate that the mean P/E ratio of all socially conscious stocks is different (either way) from the mean P/E ratio of the S&P Stock Index? Use ? = 0.05. (a) What is the level of significance? What is the value of the sample test statistic? (Round your answer to three decimal places.)
Socially conscious investors screen out stocks of alcohol and tobacco makers, firms with poor environmental records, and companies with poor labor practices. Some examples of "good," socially conscious companies are Johnson and Johnson, Dell Computers, Bank of America, and Home Depot. The question is, are such stocks overpriced? One measure of value is the P/E, or price-to-earnings ratio. High P/E ratios may indicate a stock is overpriced. For the S&P Stock Index of all major stocks, the mean P/E ratio is ? = 19.4. A random sample of 36 "socially conscious" stocks gave a P/E ratio sample mean of x = 17.7, with sample standard deviation s = 5.2. Does this indicate that the mean P/E ratio of all socially conscious stocks is different (either way) from the mean P/E ratio of the S&P Stock Index? Use ? = 0.05. (a) What is the level of significance?State the null and alternate hypotheses. H0: ? = 19.4; H1: ? < 19.4H0: ? ≠ 19.4; H1: ? = 19.4 H0: ? = 19.4; H1: ? ≠ 19.4H0: ?…
Socially conscious investors screen out stocks of alcohol and tobacco makers, firms with poor environmental records, and companies with poor labor practices. Some examples of "good," socially conscious companies are Johnson and Johnson, Dell Computers, Bank of America, and Home Depot. The question is, are such stocks overpriced? One measure of value is the P/E, or price-to-earnings ratio. High P/E ratios may indicate a stock is overpriced. For the S&P Stock Index of all major stocks, the mean P/E ratio is ? = 19.4. A random sample of 36 "socially conscious" stocks gave a P/E ratio sample mean of x = 17.8, with sample standard deviation s = 5.8. Does this indicate that the mean P/E ratio of all socially conscious stocks is different (either way) from the mean P/E ratio of the S&P Stock Index? Use ? = 0.05. I need help with sketching (d) and (e)

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