A car company wants to know the monthly sales made in ($000), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. Exhibit 2 Model Hyundai Toyota Mean Median Tri.Mean Std Dev S.E. Mean 23 109 135 107.64 1.34 143.65 27 165 124 9.5 ** a) Determine the values of * and **. b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehicles. d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly earning from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicle is equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: i Give the null and alternative hypothesis of this test. i Determine the critical value(s) of this test i Compute the value of the test statistic. 1v. State the decision rule. Give your decision based on the available sample evidence. Hence, state your conclusion. V. vi.
A car company wants to know the monthly sales made in ($000), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. Exhibit 2 Model Hyundai Toyota Mean Median Tri.Mean Std Dev S.E. Mean 23 109 135 107.64 1.34 143.65 27 165 124 9.5 ** a) Determine the values of * and **. b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehicles. d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly earning from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicle is equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: i Give the null and alternative hypothesis of this test. i Determine the critical value(s) of this test i Compute the value of the test statistic. 1v. State the decision rule. Give your decision based on the available sample evidence. Hence, state your conclusion. V. vi.
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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Please asssit with questions (e - iii) (e - iv) and (e - v) as highlighted in red
Transcribed Image Text:A car company wants to know the monthly sales made in ($000), based on the brand of vehicle.
The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was
subsequently generated.
Exhibit 2
Model
Mean
Median
Tri.Mean
Std Dev
S.E. Mean
Hyundai
Toyota
135
109
165
23
107.64
1.34
27
124
143.65
9.5
**
a) Determine the values of * and **.
b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles.
c) Give the unbiased point estimate for the variance of monthly earning from Hyundai
Vehicles.
d) Assuming normality, construct and interpret a 90% confidence interval for the average
monthly earning from Toyota Vehicles.
e) You are required to test at the 5% level of significance the hypothesis that the average
monthly earnings on Hyundai Vehicle is equal to $110,000 versus the alternative that it is
different from $110,000.
Complete the following:
i. Give the null and alternative hypothesis of this test.
Determine the criticalvalue(s)of this test
Compute the value of the test statistic.
iv.
iii.
State the decision rule.
Give your decision based on the available sample evidence.
Hence, state your conclusion.
V.
vi.
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