Answered: Teaching Assistants' Stipends A random…

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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Teaching Assistants' Stipends A random sample of stipends of teaching assistants in economics is listed. Is there sufficient evidence at the =α0.10 level to conclude that the average stipend differs from $15,500? The stipends listed (in dollars) are for the academic year. Assume that the population is approximately normally distributed. 17,604 18,000 13,419 11,981 13,185 15,000 14,356 14,000 16,338 12,000 14,000 12,283

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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