Problem 6Researchers used data from the Social Security records to study the average monthly benefit fora specific year for retired workers and for disabled workers. A random sample for both retired anddisabled workers revealed the following.mean benefit sample standard deviation sample sizeRetired$950.50$9863Disabled$902.89$10060Is there sufficient evidence to conclude that the average monthly Social Security benefit is differentfor the two groups?a) Formulate the null and the alternative hypotheses and test them at a level of confidencea = 0.01.b) Perform the p-value test and confirm the result obtained in part a).c) Find the 99% CI for the difference of average monthly benefit and confirm further the resultobtained in part a) and b).

a) Sample Mean 950.50 Standard Deviation (S1) 98 Sample…

Answered: Is there sufficient evidence to…

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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Is there sufficient evidence to conclude that the average monthly Social Security benefit is different for the two groups? a) Formulate the null and the alternative hypotheses and test them at a level of confidence a = 0.01.