Statistics, Course Project Part B

Keller Graduate School of Management Project Part B: Answer a. In this part of the project I am going to examination the managers claim that the amount mean yearbook income was less than $50,000. The supposition examineing is done through with(predicate) the sideline steps: The bootless supposition H0 is that the mean yearly income ? is get even to $50,000. H0:? = $50,000. The alternative hypothesis H1 is that the mean yearly income ? is less than $50,000. H1:? < $50,000 importation level chosen is 5% or ? = 0.05 Here, the population modular deviation is unknown. then, we use a t statistic Therefore the try statistic used is t = X-?S/n follows a t distribution with n-1 degrees of freedom From the t plank agree to 0.05 opportunity, the critical take to be t? =1.6766. Hence the critical region is t < -1.6766. Alternatively, we baulk the fruitless hypothesis, if the p rank is less than the conditional relation level change the value we get t = 43.74-5014.6396/50 = -3.02 The p value corresponding to t = -3.02 and 49 d.f. is 0.002 which is elfiner than the conditional relation level. The value of the sieve statistic is in the critical region and hence it is significant.

Therefore, we reject the naught hypothesis at 5% level of significance. The p-value is 0.002 which is junior-gradeer than the significance level. Hence there are 0.002 chances that such a small value can observe when the null hypothesis is true. Since, this opportunity is smaller than the significance level we reject the null hypothesis at 5% level. ! Hence, we conclude that there is enough elicit to support the managers claim that the average annual income was less than $50,000. b. The claim is that the true population proportion of customers who break down in an urban area exceeds 40%. In the granted up sample of size 50, thirteen are from the urban. The null hypothesis H0 is that the population proportion of customers who live in an urban is 40%. H0:p = 0.40. The...If you want to get a expert essay, order it on our website: BestEssayCheap.com

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