The average price of a dozen eggs in 2018 was $1.60. A sample of 250 stores across thenation in 2021 showed an average price of $1.79. Assume the standard deviation of thepopulation is known to be $0.75. We want to determine whether or not there has been asignificant increase in the price of a dozen eggs between recession times and mid-COVIDtimes.State the null and alternative hypotheses to be tested.b. Compute the test statistic.The null hypothesis is to be tested at the 1% level of significance. Determine the criticalvalue for this test.a.C.d.e.What do you conclude from the test?What does the test result mean in the context of this problem?

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A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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A random sample of 100 credit sales in a department store showed an average sale of $120.00. From past data, it is known that the standard deviation of the population is $40.00. a. Determine the standard error of the mean. b. With a 0.95 probability, determine the margin of error. c. What is the 95% confidence interval of the population mean?
A magazine article claims that the average cost for a take-out lunch is $9.22. You randomly select a sample of 38 take-out restaurants, and look up the price of their most popular lunch combo. You find an average of $10.08. Assume a population standard deviation of $2.13. a. State the null and alternative hypothesis for the claim that the average cost for a take-out lunch is $9.22. Ho: ? ______9.22 Ha: ? ______ 9.22 b. The _______ hypothesis is the claim. c. The goal of the test is to _______ the claim.
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According to the Annual Survey of Drug expenditure in country X, the annual expenditure for prescription drugs is $838 per person in the Northeast region of the country. A sample of 60 individuals in the Midwest shows a per person expenditure for prescription drugs of $745. Further, it is given that the population standard deviation of $300. I. Formulate hypotheses for a test to determine whether the sample data support the conclusion that the population annual expenditure for prescription drugs per person is lower in the Midwest than in the Northeast and Identify whether it is a two-tail test or a one-tail test (Left or right tail).II. Decide the suitable test statistics and justify your selection.III. Calculate the value of the relevant test statistics and identify the P-valueIV. Based on the p-value in part (III), at 99% confidence level, decide the decision criteria.V. Make the final conclusion based on the analysis.
In a sample of 80 business trips taken by employees in the HR department, a company finds that the average amount spent for the trips was $1580 with a standard deviation of $350. In a sample of 80 trips taken by the employees in the sales department is $1750 with a standard deviation of $550. When testing the hypothesis that the averageamount spent on trips taken by the salesepartment are higher than those taken by the HR department, if the test statistic is 2.33 and the critical value is 1.96 then what is your conclusion concerning the null hypothesis? Reject the null hypothesis Fail to reject the null hypothesis
An educational researcher claims that the average GPA of graduate students at FIU is less than 3.5 . To test his claim he collected data on 81 graduate students . The sample mean GPA was 3.25 with a standard deviation of 0.3 . What is the conclusion ? Group of answer choices A. Reject the null hypothesis B. Type I error C. Fail to reject the null hypothesis D. Reject the alternative hypothesis
The mean annual tuition and fees for a sample of 14 private colleges in California was $37,900 witrh a standard deviation of $7,200. A dotplot shows that it is reasonable to assume that the population is approxiamately normal. Can you conclude that the mean tuition and fees for private institutions in California differs from $35,000? a. State the null and alternate hypothesis. b. Compute the value of the t statistic. How many degrees of fredom are there?
An economist found that a random sample of 42 high school teachers had an average annual salary of $56,490. A previous study showed that the population standard deviation is $4150. Calculate the margin of error, E, for a 99% confidence interval for µ, the average annual salary of all high school teachers. A. $ 1846.3 B. $ 1652.1 C. $ 1488.6 D. $ 1423.8
A survey of nonprofit organizations showed that online fundraising increased in the past year. Based on a random sample of 53 nonprofit organizations, the mean one-time gift donation in the past year was $80,with a standard deviation of $13. . If you test the null hypothesis at the 0.05 level of significance, is there evidence that the mean one-time gift donation is greater than $75? a. State the null and alternative hypotheses. Choose the correct answer below. b. Find the test statistic. c. Find the p-value for this hypothesis test.
Medicare would like to test the hypothesis that the average monthly rate for one- bedroom assisted-living facility is equal to $3,300. A random sample of 12 assisted- living facilities had an average rate of $3,690 per month. The standard deviation for this sample was $530. Medicare would like to set a = 0.05. Which one of the following statements is true? a. Because the p-value is less than alpha, we fail to reject the null hypothesis and conclude that the average monthly rate for an assisted- living facility is not equal to $3,300. b. Because the p-value is less than alpha, we reject the null hypothesis and conclude that the average monthly rate for an assisted-living facility is not equal to $3,300. O c. Because the p-value is greater than alpha, we fail to reject the null hypothesis and conclude that the average monthly rate for an assisted- living facility is equal to $3,300.

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