Answered: You and a friend have several…

Name: You and a friend have several interesting hypotheses about the income
Uploaded: 2024-03-20T07:07:12.000Z
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Description: You and a friend have several interesting hypotheses about the income of Arkansans. You then survey 100 Arkansans and you discover that their average income is $45,000 with a standard deviation of $2,500. Your hypothesis is that the income of Arkans

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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You and a friend have several interesting hypotheses about the income of Arkansans. You then survey 100 Arkansans and you discover that their average income is $45,000 with a standard deviation of $2,500. Your hypothesis is that the income of Arkansans is $50,000 or greater. The conventional wisdom is that Arkansas is not as affluent as other states. Set up the null hypothesis, and the alternate hypothesis (you can write this out in words) and test the hypothesis. Show the test statistic, the critical statistic, and the results of your hypothesis test. (A) Test this hypothesis at 10% level of significance. (B) Test this hypothesis at the 5% level of significance. (C) Test this hypothesis at the 1% level of significance.

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