Answered: QUESTION 1 Suppose a sample of 200…

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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QUESTION 1

Suppose a sample of 200 local vendors is selected as part of a survey conducted by the
Ministry of Trade and it is found that 145 of the local vendors make an average income in
excess of $ 7 600 per month.

a) Suppose that a 97% confidence interval estimate of the proportion of local vendors
who make an average income less than N$ 7 600 per month is required. How large a
sample should be taken if the desired margin of error is 5%?

b) Suppose it has been established from past studies that 75% of local vendors make an
average income in excess of N$ 7 600 per month. Use the p-value approach and
conduct a hypothesis test at a 1% level of significance to determine whether the
proportion of local vendors who make an average income in excess of N$ 7 600 per
month differs from the historical level?

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