BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
14th Edition
ISBN: 9780134685045
Author: BERENSON
Publisher: PEARSON
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Chapter 1, Problem 52PS
Three professors examined awareness of four widely disseminated retirement rules among employees at the university of Utah. These rules provide simple answer to questions about retirement about retirement planning (R.N. Mayer, C.D. Zick, and M. Glattle, “public Awareness of Retirement planning Rules of Thumb,� Journal of personal Finance, 2011 10(1), 12-35). At the time of the investigation there were approximately 10,000 benefited employee and 3,095 participated in the study. Demographic data collected on these 3,095 employees included gender age (years), education level (years completed), marital status, household income ($) and employment category.
a. Describe the population of interest
b. Describe the sample that was collected.
c. Indicate whether each of the demographic variables mentioned is categorical or numerical.
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9.2 Testing the Mean mu:
Problem 3
(1 point)
Test the claim that the population of sophomore college
students has a mean grade point average greater than 2.2.
Sample statistics include n = 71, x = 2.44, and s = 0.9.
Use a significance level of a = 0.01.
The test statistic is
The P-Value is between :
The final conclusion is
< P-value <
A. There is sufficient evidence to support the claim that
the mean grade point average is greater than 2.2.
○ B. There is not sufficient evidence to support the claim
that the mean grade point average is greater than 2.2.
Note: You can earn partial credit on this problem.
Note: You are in the Reduced Scoring Period. All work counts for
50% of the original.
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Chapter 1 Solutions
BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
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