The average student-loan debt is reported to be $25,235. Astudent believes that the student-loan debt is higher in herarea. She takes a random sample of 100 college students inher area and determines the mean student-loan debt is$27,524 and the standard deviation is $6,000. Is theresufficient evidence to support the student's claim at a 5%significance level?Preliminary:a. Is it safe to assume that n < 5% of all collegestudents in the local area?NoYesb. Is n ≥ 30 ?YesNoTest the claim:a. Determine the null and alternative hypotheses. Entercorrect symbol and value.Ho: μ=Ha: μ ? ✨b. Determine the test statistic. Round to two decimals.tc. Find the p-value. Round to 4 decimals.p-value=d. Make a decision.☐ Fail to reject the null hypothesis.Reject the null hypothesis.

a. Yes, n < 5% of all college students in the local area b. Yes, n > 30 n = 100 which is…

Answered: The average student-loan debt is…

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 mean income per person in the United States is $36,000, and the distribution of incomes follows a normal distribution. A random sample of 9 residents of Wilmington, Delaware, had a mean of $46,000 with a standard deviation of $8,400. At the 0.100 level of significance, is that enough evidence to conclude that residents of Wilmington, Delaware, have more income than the national average?a. State the null hypothesis and the alternate hypothesis. b. State the decision rule for 0.100 significance level. (Round your answer to 3 decimal places.) c. Compute the value of the test statistic. (Round your answer to 2 decimal places.) d. Is there enough evidence to substantiate that residents of Wilmington, Delaware, have more income than the national average at the 0.100 significance level?
A manufacturer claims that only 2% of their products are defective. A store receives a delivery of 300 items from the manufacturer. Let p-hat = the proportion of defective items in a sample of 300 items. Assuming the manufacturer is correct that only 2% of their products are defective, what are the mean and standard deviation of the sampling distribution of p-hat ? Options: The mean is 0.02 and the standard deviation is 0.008. The mean is 6 and the standard deviation is 2.42. The mean is 6 and the standard deviation is 5.88. The mean is 0.02 and the standard deviation is 0.196.
The mean annual incomes of certified welders are normally distributed with the mean of $50,000. The ship building association wishes to find out whether their welders earn more or less than $50,000 annually. A study conducted using 100 certified welders showed that their annual income is $50,250 with a sample standard deviation of $1050. What is the test statistic for this test? a. 2.381 b. 1.673 c. 1.367 d. 2.869
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The average credit card debt for a recent year was $8,776. Five years earlier the average credit card debt was $8,189. Assume sample sizes of 32 were used and the population standard deviations of both samples were $690. Is there evidence to conclude that the average credit card debt has increased?
MC Qu. 10-64 Sales at a fast-food restaurant average... Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to Increase daily sales. In order to determine the effectiveness of the advertising campaign, a sample of 49 day's sales were taken. The sample showed average daily sales of $6,300. From past history, the restaurant knew that its population standard deviation is about $1,000. If the level of significance is 0.01, have sales increased as a result of the advertising campaign? Multiple Choice Fail to reject the null hypothesis. Reject the null hypothesis and conclude the mean is higher than $6,000 per day. Reject the null hypothesis and conclude the mean is lower than $6,000 per day. Reject the null hypothesis and conclude that mean equal to $6,000 per day.
The manager of a Kroger grocery store claims a membership card will save consumers more than $15 per week on average. To check this claim, a random sample of 12 shoppers with membership cards was obtained and their weekly grocery bills were inspected. Suppose the sample mean was $16.35 and the sample standard deviation was $3.20. Assume the distribution of savings is normal. a. Check the necessary assumptions and conditions for doing this test. b. What are the appropriate hypotheses to test the claim? c. Calculate the appropriate test statistic and p-value. d. What is the conclusion?
State the conclusion based on the results of the test. According to the Federal Housing Finance Board, the mean price of a single-family home two years ago was $299,100. A real estate broker believes that because of the recent credit crunch, the mean price has increased since then. The null hypothesis is not rejected. Choose the correct answer below. O A. There is not sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of $299,100. O B. There is sufficient evidence to conclude that the mean price of a single-family home has decreased from its level two years ago of $299,100. C. There is sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of $299,100. O D. There is not sufficient evidence to conclude that the mean price of a single-family home has decreased from its level two years ago of $299,100.
According to the Annual survey of drugs expenditure in country X, the annual expenditure forprescription drugs is $838 per person in the Northeast region of the country. A sample of 60 individualsin the Midwest shows a per person expenditure for prescription drugs of $745. Further, it is given thatthe population standard deviation of $300 Make the final conclusion based on the analysis
You are trying to determine that average height of females living in New Jersey. To estimate this population mean, you collect a sample of 100 women and the average height of the women sampled was 54.5 inches. Assume the standard deviation of the population is 3 inches. Using a 95% confidence level, determine the following: a. Based on the poll, what is the point estimate of the mean height of female NJ residents? b. Find the margin of error for this sample. c. Construct a confidence interval to estimate the mean height of female NJ residents using a 95% confidence level. d. What sample size would be required to achieve a margin of error of less than 1 inch ?
Assume that annual incomes for certain workers are normal, with a mean of $28,500 and standard deviation of $2,400. What is the chance that 36 randomly selected employees earn more than $30,000 on average? Use a sampling distribution of sample means to calculate the standard error.

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