The average retirement age in America is 62 years old. Do small business owners retire at a different average age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 54, 62, 58, 66, 58, 50, 66, 62, 53, 62, 49 What can be concluded at the the αα = 0.05 level of significance level of significance? The null and alternative hypotheses would be: H0 = (p,u) (<,>,=,not equal) to _____ H1 = (p,u) (<,>,=,not equal) to _____ The test statistic (t,z) = ___ The p-value = _____ Thus, the final conclusion is that ... The data suggest the populaton mean is significantly different from 62 at αα = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is different from 62. The data suggest the population mean is not significantly different from 62 at αα = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is equal to 62. The data suggest the population mean retirement age for small business owners is not significantly different from 62 at αα = 0.05, so there is insufficient evidence to conclude that the population mean retirement age for small business owners is different from 62.
The average retirement age in America is 62 years old. Do small business owners retire at a different average age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 54, 62, 58, 66, 58, 50, 66, 62, 53, 62, 49 What can be concluded at the the αα = 0.05 level of significance level of significance? The null and alternative hypotheses would be: H0 = (p,u) (<,>,=,not equal) to _____ H1 = (p,u) (<,>,=,not equal) to _____ The test statistic (t,z) = ___ The p-value = _____ Thus, the final conclusion is that ... The data suggest the populaton mean is significantly different from 62 at αα = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is different from 62. The data suggest the population mean is not significantly different from 62 at αα = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is equal to 62. The data suggest the population mean retirement age for small business owners is not significantly different from 62 at αα = 0.05, so there is insufficient evidence to conclude that the population mean retirement age for small business owners is different from 62.
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 average retirement age in America is 62 years old. Do small business owners retire at a different average age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal.
54, 62, 58, 66, 58, 50, 66, 62, 53, 62, 49
What can be concluded at the the αα = 0.05 level of significance level of significance?
The null and alternative hypotheses would be:
H0 = (p,u) (<,>,=,not equal) to _____
H1 = (p,u) (<,>,=,not equal) to _____
The test statistic (t,z) = ___
The p-value = _____
Thus, the final conclusion is that ...
- The data suggest the populaton
mean is significantly different from 62 at αα = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is different from 62. - The data suggest the population mean is not significantly different from 62 at αα = 0.05, so there is sufficient evidence to conclude that the population mean retirement age for small business owners is equal to 62.
- The data suggest the population mean retirement age for small business owners is not significantly different from 62 at αα = 0.05, so there is insufficient evidence to conclude that the population mean retirement age for small business owners is different from 62.
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