The mean balance of all checking accounts at a local bank for July 2020 was P8 500. A random sample of25 checking accounts taken recently from this gave a mean balance of P7 750 with a standard deviationof P1 600. Assume that the balance of all checking accounts at this bank is normally distributed. Usingthe 1% significance level, can you conclude that the mean balance of such accounts has decreased duringthis period?9. What is the appropriate alternative hypothesis?A. μ = 8 500Β. μ < 8 500C. μ > 8500D. μ#8500

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Answered: The mean balance of all checking…

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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Suppose that the daily intake of an adult follows a uniform distribution from 40 to 65 micrograms. Suppose that 36 adults are randomly selected. What is the mean and standard deviation of the average intake for 36 adults. a. Mean= 52.5 stvdev = 1.2 b. Mean = 55 stvdev= 7.22c. Mean = 52.5 stvdev = 2.08 d. Mean= 52.5 stvdev = 7.22
Assume the average amount of caffeine consumed daily by adults is normally distributed with a mean of 260 mg and a standard deviation of 48 mg. In a random sample of 600 adults, how many consume at least 320 mg of caffeine daily?
Suppose that a recent article stated the mean time spent in jail by a first-time convicted burglar is 2.7 years. A study was then done to see if the mean time has increased in the new century. A random sample of 27 first-time convicted burglars in a recent year was picked. The mean length of time in jail from the survey was 3.01 with a standard deviation of 1.78 years. Assume that the distribution of jail times is approximately normal. Test the claim at the level of significance 0.1. Select one: a) t_stat = 0.9 and t_cr = 1.31 : The mean time increased significantly in the new century b) t_stat = 0.9 and t_cr = 1.31 : The mean time didn’t increase in the new century c) t_stat = 0.99 and t_cr = 1.71 : The mean time didn’t increase in the new century d) t_stat = 0.99 and t_cr = 1.71 : The mean time increased significantly in the new century
The Drive-thru lane at Chick-fil-a's mean wait time is 7 minutes with a standard deviation of 2 minutes. 8. If a sample of 10 customers was taken, calculating the mean for each day. The standard deviation for those means would be:
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In what percentile is an infant’s body weight of 7 pounds, if infant body weights at that age are normally distributed with mean 11 pounds, and standard deviation 2 pounds?
The duration of flights between two locations is normally distributed with a mean of 6 hours and a standard deviation of 45 minutes. Approximately what percentage of these flights can be expected to take between 7 and 8 hours?
Suppose that blood chlorine concentration (mmol/L) has a normal distribution with mean=98 and standard deviation=7. For a sample of n=40, what is the corresponding mean and standard deviation of the sampling distribution?
Humerus bones from the same species of animal have approximately the same length-to-width ratios. It is known that Species A has a mean ratio of 5.9. Suppose that 100 fossil humerus bones were unearthed at a site where Species A is known to have flourished. (We assume that all bones are from the same species.) The length-to-width ratios of these bones have a sample mean 5.6 and sample standard deviation 0.25. Can we conclude that the mean ratio of these bones is significantly smaller than those of Species A? Test with a 0.01 significance level. What is the standard error?
According to the Insurance Association in US, the average annual expenditure for automobile insurance is $605. Suppose that in a simple random sample of 80 residents of New York, for most recent year their average expenditure was $638.62 with the standard deviation of $106.05. Based on these data, examine whether the average annual insurance for motorists in New York might be different from that in national level. Using the 0.05 level of significance, what conclusion do you reach? Also, construct and interpret 95% confidence interval for the population mean. Is the hypothesized mean within the interval? Is this consistent with the findings of the hypothesis test conducted?
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In a random sample of 6 cell phones, the mean full retail price was 517.30 and standard deviation is 184.00. Further research suggests that the population mean is 425.73. Does the t-value for the original sample fall between -t0.99 and t0.99?

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