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Name: We take a random sample of 70 students in a college in NJ. The mean fa
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Description: We take a random sample of 70 students in a college in NJ. The mean family income in the sample is $59,000 and the standard deviation is $14,000. Find a 99% confidence Interval. Assume a = significance level = 0.10. your null hypothesis is that the m

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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We take a random sample of 70 students in a college in NJ. The mean family income in the sample is $59,000 and the standard deviation is $14,000. Find a 99% confidence Interval. Assume a = significance level = 0.10. your null hypothesis is that the mean income is $56,000. The alternative hypothesis is that the mean is different than $56 ,000. Find the test statistic. Do you reject your null hypothesis? Interpret your result

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