The average retirement age in America is 64 years old. Do small business owners retire at a younger 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.Survey data: 65, 61, 71, 64, 67, 54, 51, 63, 58, 54, 57**Research Question:**What can be concluded at the α = 0.05 level of significance?**Hypothesis Testing:**a. **Study type selection:** - For this study, we should use [Select an answer]b. **Hypotheses:** - Null hypothesis (\(H_0\)): \[?\] [Select an answer] - Alternative hypothesis (\(H_1\)): \[?\] [Select an answer]c. **Test Statistic:** - Test statistic (\(z\)) = [_____] (Please show your answer to 3 decimal places.)d. **P-value:** - The p-value = [_____] (Please show your answer to 4 decimal places.)e. **Comparison:** - The p-value is [≥/≤] \(α\)f. **Decision:** - Based on this, we should [Select an answer] the null hypothesis.g. **Conclusion:** - The final conclusion is that: - [ ] The data suggest the population mean retirement age for small business owners is not significantly younger than 64 at \(α = 0.05\), so there is insufficient evidence to conclude that the population mean retirement age for small business owners is younger than 64. - [ ] The data suggest the population mean is significantly younger than 64 at \(α = 0.05\), so there is sufficient evidence to conclude that the population mean retirement age for small business owners is younger than 64. - [ ] The data suggest the population mean is not significantly younger than 64 at \(α = 0.05\), so there is sufficient evidence to conclude that the population mean retirement age for small business owners is equal to 64.

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The average retirement age in America is 64 years old. Do small business owners retire at a younge average age? The data below shows the results of a survey of small business owners who have rece retired. Assume that the distribution of the population is normal. 65, 61, 71, 64, 67, 54, 51, 63, 58, 54, 57 What can be concluded at the the a = 0.05 level of significance level of significance? %3D a. For this study, we should use Select an answer b. The null and alternative hypotheses would be: Ho: ? Select an answer H: ?v Select an answer c. The test statistic ? v (please show your answer to 3 decimal places.)

The average retirement age in America is 64 years old. Do small business owners retire at a younge average age? The data below shows the results of a survey of small business owners who have rece retired. Assume that the distribution of the population is normal. 65, 61, 71, 64, 67, 54, 51, 63, 58, 54, 57 What can be concluded at the the a = 0.05 level of significance level of significance? %3D a. For this study, we should use Select an answer b. The null and alternative hypotheses would be: Ho: ? Select an answer H: ?v Select an answer c. The test statistic ? v (please show your answer to 3 decimal places.)

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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