Chapter 10, Problem 10.50AC

According to a report published by the USDA 4 years ago, a typical American consumes an average of 6.66 pounds of potato chips per year.A researcher at the USDA would like to determine if the average amount of potato chips consumed each year by a typical American has changed since the original report was published. The researcher collected data from a random sample of 31 Americans and found that the mean amount of potato chips consumed each year by the sample was 6.37 pounds with a standard deviation of 0.603 pounds.Using α=0.05α=0.05, test the hypothesis that the mean amount of potato chips consumed each year by a typical American is different than 6.66 pounds. Use the p-value method. Determine the test statistic for the hypothesis test. Round the solution to four decimal places.Determine the p-value (range) for the hypothesis test. p-value < 0.001 0.001 < p-value < 0.01 0.01 < p-value < 0.02 0.02 < p-value < 0.05 0.05 < p-value < 0.10 0.10 < p-value…

A construction manager has determined the schedule Variance (SV) of a project is $5000 and the Schedule performance index is -0.8. Explain the findings.

You can assess normality of data using

What is the effect of outliers on the value of correlation?

A consumer advocacy group is doing a large study on car rental practices. Among other things, the consumer group would like to do a statistical test regarding the mean monthly mileage, u, of cars rented in the U.S. this year. The consumer group has good reason to believe that the mean monthly mileage of cars rented in the U.S. this year is less than last year's mean, which was 2700 miles. The group plans to do a statistical test regarding the value of u. It chooses a random sample of monthly mileages and computes the mean of the sample to be 2565 miles and the standard deviation to be 850 miles Based on this information, complete the parts below. (a) What are the null hypothesis Ho and the alternative hypothesis H₁ that should be used for the test? H₁ :0#0 H₁ :0 (b) Suppose that the group decides to reject the null hypothesis. What sort of error might it be making? (Choose one) (c) Suppose the true mean monthly mileage of cars rented in the U.S. this year is 2700. Fill in the blanks to…

please explain how to use the standard deviation from the 1-Var Stats statistical output to obtain the variance of a data set

A Fair Isaac Corporation (FICO) score is used by credit agencies such as banks to determine whether to lend money and the interest rate to charge. Its value ranges from 300 to 850 and if you have a score over 700, you are considered to be a "quality" credit risk. The mean credit score of average income earners in California is estimated by Fair Isaac to be 592. A recent survey of 80 high income earners in California had a mean FICO score of x¯=612 and a standard deviation of s=49. Use a 0.025 significance level to test the claim that the mean FICO score of high income earners in California is at most 592, the mean score of average income earners in California. Claim:               Select an answer p ≠ 592 p ≥ 592 u < 592 p ≤ 592 u ≠ 592 u > 592 p = 592 u ≥ 592 u ≤ 592 p > 592 p < 592 u = 592  which corresponds to         Select an answer H1: u > 592 H0: p ≥ 592 H0: u ≤ 592 H0: u = 592 H1: u < 592 H0: u ≠ 592 H1: u ≠ 592Opposite:               Select an answer u = 592…

A Fair Isaac Corporation (FICO) score is used by credit agencies such as banks to determine whether to lend money and the interest rate to charge. Its value ranges from 300 to 850 and if you have a score over 700, you are considered to be a "quality" credit risk. The mean credit score of average income earners in California is estimated by Fair Isaac to be 553. A recent survey of 74 high income earners in California had a mean FICO score of x=543 and a standard deviation of s=41. Use a 0.2 significance level to test the claim that the mean FICO score of high income earners in California is equal to 553, the mean score of average income earners in California. Claim: Select an answer v which corresponds to Select an answer v Select an answer Opposite: Select an answer v which corresponds H1. u 553 HO: u 553 The test is: Select an answer v H0: p 2 553 The test statistic is: (to 3 decimals) H1: u > 553 Identify the range of the p-value: Select an answe H1: u< 553 HO: u = 553 Based on this…

Do researchers prefer to report the variance instead of the standard deviation because it is easier to interpret and understand?