Please show your complete solution. Thank you! Please use Excel if possible. Problem: Given are the capital shares of 12 randomly chosen member accounts of a certain cooperative. Shared Capital: 7500, 12800, 9650, 13000, 25000, 15000, 15500, 17250, 18600, 21050, 16750, 17800, 15000, 22100, 10210 Can it be claimed that the average capital share of the members is significantly different from 16,000? Use a 1% level of significance and follow the necessary steps below: Null and Alternative Hypothesis (both in symbols and statement form) Level of Significance; sample size; test statistics Decision Rule Computation Decision and Conclusion
Please show your complete solution. Thank you! Please use Excel if possible. Problem: Given are the capital shares of 12 randomly chosen member accounts of a certain cooperative. Shared Capital: 7500, 12800, 9650, 13000, 25000, 15000, 15500, 17250, 18600, 21050, 16750, 17800, 15000, 22100, 10210 Can it be claimed that the average capital share of the members is significantly different from 16,000? Use a 1% level of significance and follow the necessary steps below: Null and Alternative Hypothesis (both in symbols and statement form) Level of Significance; sample size; test statistics Decision Rule Computation Decision and Conclusion
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.8: Linear Programming
Problem 5SC: If during the following year it is predicted that each comedy skit will generate 30 thousand and...
Related questions
Question
Please show your complete solution. Thank you!
Please use Excel if possible.
Problem: Given are the capital shares of 12 randomly chosen member accounts of a certain cooperative.
Shared Capital: 7500, 12800, 9650, 13000, 25000, 15000, 15500, 17250, 18600, 21050, 16750, 17800, 15000, 22100, 10210
Can it be claimed that the average capital share of the members is significantly different from 16,000? Use a 1% level of significance and follow the necessary steps below:
- Null and Alternative Hypothesis (both in symbols and statement form)
- Level of Significance;
sample size ; test statistics - Decision Rule
- Computation
- Decision and Conclusion
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 7 images
Recommended textbooks for you
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning