The average retirement age for a certain country was reported to be 56.9 yearsaccording to an international group dedicated to promoting trade and economicgrowth. With the pension system operating with a deficit, a bill was introduced bythe government during the summer to raise the minimum retirement age from 60to 62. Suppose a survey of 45 retiring citizens is taken to investigate whether thenew bill has raised the average age at which people actually retire. Assume thestandard deviation of the retirement age is 5 years. Using a = 0.05, answer partsa through c below.a. Explain how Type I and Type II errors can occur in this hypothesis test.A Type I error can occur when the researcher concludes the average retirementagebut the average retirement ageVAType II error can occur when the researcher concludes that the averageretirement agewhen, in fact, the average retirement age

Type I error is the probability of rejecting the null hypothesis when it is true. Type II error is…

Answered: The average retirement age for a…

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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Suppose that the lengths of pregnancies are normally distributed with a mean of 270 days and a standard deviation of 14 days. If a child is born in the lower 4.5% of this distribution is considered to be premature, how many days must a pregnancy last for a child to not be considered premature? (Round to the nearest day.)
The following values represent the closing prices of a stock(in dollars) on five trading days: 10,12,14,16,18. A) What is the standard deviation?(show work) B) What is the standard deviation of 12,14,16,18,20? (Show work)
Suppose that on a certain section of I-95, with a posted speed limit of 65 miles per hour, the speeds of all vehicles have a bell-shaped distribution with a mean of 72 mph and a standard deviation of 3 mph. Find the percentage of vehicles with the following speeds on this section of I-95: greater than 75 mph.
Consider a data set that has a mean of 82.7 and a standard deviation of 14.1. According to Chebyshev's Theorem, give an interval that has at least 91.14% of the data.
An insurance company wants to make sure that its best customers (those with lowest value of insurance claims) stay with the company. To achieve this goal, the company plans to offer a 10% discount on the annual health insurance premium for customers with the lowest 20% of annual health care expenses. If the average annual health care expenses for a family of four is $3,650 with a standard deviation of $975, what is the amount of the maximum annual health care expense that will qualify for the proposed discount?
Suppose the following data show the introductory interest rates on a sample of 5 credit cards: 6, 2.7, 3.3, 5.6, 3.7. Calculate the standard deviation of the sample. Note: the numbers may be different from the last problem. (please express your answer using 2 decimal places)
Imagine that for those who meditate daily, the number of minutes in meditation has mean 35 and standard deviation 10. In a group of 200 such persons, how many are expected to meditate more than 43 minutes per day?
3. Based on a survey, the average monthly allowance of the international students in Oxford University is ₱25,000 with a standard deviation of ₱1,000.00. The monthly allowance is normally distributed, what is the z-score of an international student with a monthly allowance of ₱23,000.
In 2011, the mean property crime rate (per 100,000 people) for 10 northeastern regions of a certain country was 2367. The standard deviation was 394. Assume the distribution of crime rates is unimodal and symmetric. What percentage of northeastern regions would you expect to have property crime rates between 1973 and 2761.
In nutrition, the recommended daily allowance of vitamins is a number set by the government as a guide to an individual's daily vitamin intake. Actually, vitamin needs vary drastically from person to person, but the needs are very closely approximated by a normal curve. To calculate the recommended daily allowance, the government first finds the average need for vitamins among people in the population, and the standard deviation. The recommended daily allowance is then defined as the mean plus 2.5 times the standard deviation. What is the recommended daily allowance for a vitamin with mean u and standard deviation o? recommended daily allowance =
Consider a data set that has a mean of 16.8 and a standard deviation of 5.6. According to Chebyshev's Theorem, give an interval that has at least 93.75% of the data.

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