The average salary in this city is $44,600 and the standard deviation is $17,500. Is the average more for single people? 49 randomly selected single people who were surveyed had an average salary of $51,836. What can be concluded at the 0.01 level of significance? H0: = 44600 Ha: [ Select ] [">", "<", "Not Equal To"] 44600 Test statistic:[ Select ]["Z", "T"] p-Value = [ Select ] ["0.002", "0.004", "0.17", "0.34"] [ Select ] ["Fail to Reject Ho", "Reject Ho"] Conclusion: There is [ Select ] ["statistically significant", "statistically insignificant"] evidence to make the conclusion that the population mean salary of single people is more than $44,600. p-Value Interpretation: If the mean salary of single people is equal to $ [ Select ] ["47,229", "44,600", "50,004", "51,836"] and if another study was done with a new randomly selected collection of 49 single people, then there is a[ Select ] ["0.2", "17", "0.4", "34", "5"] percent chance that the average salary for this new sample would be more than $ [ Select ] ["50,004", "47,229", "44,600", "51,836"]. Level of significance interpretation: If the mean salary for single people is equal to[ Select ]
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
The average salary in this city is $44,600 and the standard deviation is $17,500. Is the average more for single people? 49 randomly selected single people who were surveyed had an average salary of $51,836. What can be concluded at the 0.01 level of significance?
H0: = 44600
Ha: [ Select ] [">", "<", "Not Equal To"] 44600
Test statistic:[ Select ]["Z", "T"]
p-Value = [ Select ] ["0.002", "0.004", "0.17", "0.34"] [ Select ] ["Fail to Reject Ho", "Reject Ho"]
Conclusion: There is [ Select ] ["statistically significant", "statistically insignificant"] evidence to make the conclusion that the population mean salary of single people is more than $44,600.
p-Value Interpretation: If the mean salary of single people is equal to $ [ Select ] ["47,229", "44,600", "50,004", "51,836"] and if another study was done with a new randomly selected collection of 49 single people, then there is a[ Select ] ["0.2", "17", "0.4", "34", "5"] percent chance that the average salary for this new sample would be more than $ [ Select ] ["50,004", "47,229", "44,600", "51,836"].
Level of significance interpretation: If the mean salary for single people is equal to[ Select ] ["44,600", "50,004", "47,229", "51,836"] and if a new study were done with a new randomly selected collection of 49 single people then there would be a [ Select ]["1", "", "5", "34", "0.4", "0.2", "17"] percent chance that this new study would result in the false conclusion that the mean salary of single people is more than $44,600.
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