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Name: The accounts of a corporation show that on average, accounts payables
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Description: The accounts of a corporation show that on average, accounts payables are $125 with standard deviation of $25. An auditor checked a random sample of 20 accounts whose mean was $129. Assume that the population distribution is normal. Test the null hyp

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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The accounts of a corporation show that on average, accounts payables are $125 with standard deviation of $25. An auditor checked a random sample of 20 accounts whose mean was $129. Assume that the population distribution is normal. Test the null hypothesis that the mean payables are $125 against a two- sided alternative at 5% significance level.

State the null and the alternative hypothesis and comment whether its a one tail or two tail test? If one tail then right or left tail test?

(write your answer as one tail right tail test/ one tail left tail test/ two tail test)

Identify the critical value. Ans in two decimal places.

What is the calculated value? Ans in two decimal places

Write the decision rule and identify whether the condition holds.

(write answer as condition holds/ condition does not hold)

Give final decision

(write answer as reject null/ do not reject null)

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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