Sydney house prices are rising rapidly and many believe that the average house price in Sydney is above$1,000,000. Phuc used a sample of 1000 recent property sales in Sydney to test the claim. He found thatthe sample mean price was $1,060,000 and the t-statistic was 1.05.a)(round your answer to 2 decimal places)b)isThe standard error of the sample mean house price must bed)distributed.The null hypothesis Ho is:Using 5% significance level, you can conclude thatc)The p-value associated with the test is(leave your answer in decimals, rounded to 4 decimal places)+ 1,000,000For the test result to be valid, Phuc needs to assume that Sydney house prices are normally

The given sample mean price is $1,060,000 and the t-statistic was 1.05.

Answered: Sydney house prices are rising rapidly…

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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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
A study analyzed the sustainability behaviors of CPA corporations. The level of support for corporate sustainability (measured on a quantitative scale ranging from 0 to 160 points) was obtained for each in a sample of 984 senior managers at CPA firms. The CEO of a CPA firm claims that the true mean level of support for sustainability is 66. Complete parts a through e. What is a Type II error in this problem? A. A Type II error would be to conclude that the true mean level of support for sustainability is 66 when, in fact, the mean is not equal to 66. B. A Type II error would be to conclude that the sample mean level of support for sustainability is less than 66 when, in fact, the sample mean is greater than 66. C. A Type II error would be to conclude that the true mean level of support for sustainability is not 66 when, in fact, the mean is equal to 66. D. A Type II error would be to conclude that the sample mean level of support for…
State the conclusion based on the results of the test. According to the Federal Housing Finance Board, the mean price of a single-family home two years ago was $299,600. A real estate broker believes that because of the recent credit crunch, the mean price has decreased since then. The null hypothesis is not rejected. Choose the correct answer below. O A. There is not sufficient evidence to conclude that the mean price of a single-family home has decreased from its level two years ago of $299,600. O B. There is sufficient evidence to conclude that the mean price of a single-family home has decreased from its level two years ago of $299,600. O C. There is sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of $299,600. O D. There is not sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of $299,600.
A congressperson wants to come up with a single value to describe the prices of homes in their district. However, their district consists of a few homes that are extremely expensive compared to the others. Which descriptive statistic should they use? a. Range b. Mode c. Median d. Mean
The mean sales prices for a sample of homes in a city was $250,000. The median sales price of these same homes was $459,000 . The distribution of home sale prices in this city is: Right Skewed Cannot tell from mean and median alone. Symmetric Left Skewed
In a city with three high schools, all the ninth graders took a Standardized Test, with these results: High School Mean score on test Number of ninth graders Glenwood 76 272 Central City 93 325 Lincoln High 73 180 The city's PR manager, who never took statistics, claimed the mean score of all ninth graders in the city was 80.7 . Of course, that is incorrect. What is the mean score for all ninth graders in the city? Round to one decimal place.mean of all ninth grader's scores =
The histogram (click the attacthed photo to view) shows the distribution of hurricanes that have hit a country from 1851 through 2015, where 1 is the weakest level and 5 is the strongest level. A) The mean is? B) The variance is? C)The standard deviation is?
These next questions come after part B. Which of the statements correctly describes the relationship between the mean and median in the histogram of the number of servings of fruit per day claimed by the 7474 seventeen‑year‑old girls? A) The mean and median are about equal because the distribution is right‑skewed. B) The mean is larger than the median because the distribution is right‑skewed. C) The median is larger than the mean because the distribution is right‑skewed. D) There is not enough information to tell us about the relationship between the mean and median in the histogram. (c) In general, you cannot find the exact values of median, quartiles, or mean from the histogram. What is special about the histogram of the number of servings of fruit that allows you to do this? Select an answer choice. A) We know exactly how many observations fall in each bin because of the way the bins are constructed. B) The sample size only consists of only 74…
The U.S. National Center for Health Statistics complies birth statistics and publishes the results in vital statistics of the United States. The Center has historically believed that the mean of all newborns in the U.S. has been no less than 6.95 pounds. A sample of babies is selected so that the center can revise its belief. The following birth weights, in pounds are recorded: 7.4, 6.0, 8.6, 4.5, 2.0, 7.9, 4.0, 2.6, 5.9, 7.3, 7.3, 7.0, 6.3, 8.1, 7.1, 7.3, 6.6, 5.2, 9.8, 8.0, 10.9, 6.5, 3.8, 5.0, 8.0 a). At 5% level of significance, do these data provide sufficient evidence to refute the Center’s belief? Your conclusion must be in terms of the P-Value as well as setting up a Rejection Region. You must show all necessary work. b). Which statistical distribution should be applied in this situation and why? Explain carefully.
A. There is sufficient evidence to support the claim that the mean is less than 32 miles per gallon. O B. There is not sufficient evidence to support the claim that the mean is less than 32 miles per gallon. O C. There is not sufficient evidence to support the claim that the mean is greater than 32 miles per gallon. O D. There is sufficient evidence to support the claim that the mean is greater than 32 miles per gallon.
State the conclusion based on the results of the test. According to the Federal Housing Finance Board, the mean price of a single-family home two years ago was $299,100. A real estate broker believes that because of the recent credit crunch, the mean price has increased since then. The null hypothesis is not rejected. Choose the correct answer below. O A. There is not sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of $299,100. O B. There is sufficient evidence to conclude that the mean price of a single-family home has decreased from its level two years ago of $299,100. C. There is sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of $299,100. O D. There is not sufficient evidence to conclude that the mean price of a single-family home has decreased from its level two years ago of $299,100.
John Beale of Stanford, California, recorded the speeds of cars driving past his house, where the speed limit read 20 mph. The mean of 100 representative readings was 23.76 mph, with a standard deviation of 3.53 mph. a) How many standard deviations from the mean would a car going the speed limit be? b) Which would be more unusual, a car traveling 35 mph or one going 8 mph? a) A car traveling at the speed limit is from the mean. (Round to two decimal places as needed.) b) Choose the correct answer below and fill in the answer box(es) to complete your choice. (Round to two decimal places as needed.) OA. B. standard deviations O C. The car traveling 35 mph is more unusual. It is standard deviations from the mean, while the car traveling 8 mph is standard deviations from the mean. The car traveling 8 mph is more unusual. It is standard deviations from the mean, while the car traveling 35 mph is standard deviations from the mean. Both cars are equally unusual. Both cars are standard…

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