Bank of America's Consumer Spending Survey collected data on annual credit card charges in seven different categories of expenditures: transportation, groceries, dining out, household expenses, home furnishings, apparel, and entertainment. Using data from a sample of 42 credit card accounts, assume that each account was used to identify the annual credit card charges for groceries (population 1) and the annual credit card charges for dining out (population 2). Using the difference data, the sample
H0:μd=0
Ha:μd≠0
a. What is the p-value? (to 6 decimals)
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- Given the following data set, find the lower quartile: 12,13,5,8,9,20,16,14,14,6,9,12,12arrow_forwardA retail store started a new inventory system on January 1, 2019. The loss prevention manager compared the number of units that were missing from each month's inventory in 2018 with the number of units that were missing from each month's inventory in 2019. The results are provided in the table below. 2018 2019 87 7171 79 75 91 67 78 76 82 68 75 65 88 72 86 75 83 64 77 70 89 73 83 63 What conclusion could be made using the median and interquartile range from the data? The median for 2018 is 83, which is greater than 70.5, the median for 2019. The interquartile range for 2018 is 9, which is greater than the interquartile range for 2019, 8. The median for 2018 is 6969, which is less than 82.5, the median for 2019. The interquartile range for 2018 is 8.5, which is the same as the interquartile range for 2019. The median for 2018 is 83, which is greater than 71, the median for 2019. The interquartile range for 2018 is 16, which is greater…arrow_forwardIdentify the mean, median and mode based from the data below.arrow_forward
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- Bank of America's Consumer Spending Survey collected data on annual credit card charges in seven different categories of expenditures: transportation, groceries, dining out, household expenses, home furnishings, apparel, and entertainment. Using data from a sample of 42 credit card accounts, assume that each account was used to identify the annual credit card charges for groceries (population 1) and the annual credit card charges for dining out (population 2). Using the difference data, the sample mean difference was d = $850, and the sample standard deviation was Sd = $1,123. a. Formulate the null and alternative hypotheses to test for no difference between the population mean credit card charges for groceries and the population mean credit card charges for dining out. Hoμd Haμd - Select your answer - - Select your answer - b. Use a 0.05 level of significance. Can you conclude that the population means differ? - Select your answer - ✓ What is the p-value? (to 6 decimals) c. Which…arrow_forwardIn a study of computer use, 1000 randomly selected Canadian Internet users were asked how much time they spend using the Internet in a typical week. The mean of the sample observations was 12.6 hours.arrow_forwardFind the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given question. Listed below are foot lengths in inches of randomly selected women in a study of a country's military in 1988. Are the statistics representative of the current population of all women in that country's military? 9.3 9.9 9.1 9.9 8.7 9.4 10.4 9.5 8.8 9.1 9.1arrow_forward
- A survey collected data on annual credit card charges in seven different categories of expenditures: transportation, groceries, dining out, household expenses, home furnishings, apparel, and entertainment. Using data from a sample of 42 credit card accounts, assume that each account was used to identify the annual credit card charges for groceries (population 1) and the annual credit card charges for dining out (population 2). Using the difference data, with population 1– population 2, the sample mean difference was d = $870, and the sample standard deviation was s,= $1,125. (a) Formulate the null and alternative hype to test for no difference between the population mean credit card charges for groceries and the population mean credit card charges for dining out. 0> Prt :°H 0 = Pri :ºH O O Ho: Hdso H: H=0 (b) Calculate the test statistic. (Round your answer to three decimal places.) What is the p-value? (Round your answer to four decimal places.) Can you conclude that the population…arrow_forwardA statistical program is recommended. The data below contains mileage, age, and selling price for a sample of 33 sedans. Price Mileage Age Price Mileage Age Price Mileage Age 16,998 35,000 3 11,599 95,000 8 18,998 20,000 2 17,599 16,000 3 10,499 123,000 8 12,599 63,000 7 15,998 42,000 3 14,599 54,000 5 12,599 70,000 6 15,998 61,000 4 10,599 68,000 11 10,998 88,000 10 11,599 102,000 7 16,998 40,000 4 11,998 86,000 6 13,998 109,000 4 20,998 7,000 1 12,998 60,000 6 14,998 60,000 5 11,599 81,000 9 17,599 45,000 2 11,599 88,000 9 12,599 70,000 9,998 96,000 11 12,599 58,000 8 13,599 86,000 5 9,998 60,000 11 14,998 27,000 6 11,599 92,000 7 16,998 36,000 2 15,998 32,000 4 9,599 120,000 10 17,599 45,000 2 Use the estimated regression equation that predicts the selling price of a used sedan given the mileage and age of the car to answer the following questions. (Let x₁ represent the mileage of the car, x2 represent the age of the car, and y represent the selling price of the car.) ŷ 20385.25…arrow_forwardFind the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given question. Listed below are foot lengths in inches of randomly selected women in a study of a country's military in 1988. Are the statistics representative of the current population of all women in that country's military? 9.9 8.6 9.8 8.6 9.3 8.7 10.3 9.4 10.5 9.8 9.8 O a. Find the mean. The mean is inch(es). (Type an integer or a decimal rounded to two decimal places as needed.) b. Find the median. The median is inch(es). (Type an integer or a decimal. Do not round.) c. Find the mode. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. O A. The mode(s) is(are) inch(es). (Type an integer or a decimal. Do not round. Use a comma to separate answers as needed.) O B. There is no mode. d. Find the midrange. The midrange is inch(es). (Type an teger or a decimal. Do not round.) e. Are the statistics representative of the current population of all…arrow_forward
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