Explain your reasoning. 1. Since the pandemic, the price of gasoline varies constantly from the last two months. However, you observed that local gas stations charge higher price. You want to test your hypothesis that local gas stations are charging much more than the national average price for gasoline. What is your claim about this problem? What is the null hypothesis of this study? 2. You carry out a test of the hypothesis described in #1. If the results show that you cannot reject the null hypothesis, what conclusion can you generate based on your claim? 3. Explain why accepting the null hypothesis is not a possible outcome. 4. What type of correlation would you expect between wages and the unemployment rate?
Explain your reasoning. 1. Since the pandemic, the price of gasoline varies constantly from the last two months. However, you observed that local gas stations charge higher price. You want to test your hypothesis that local gas stations are charging much more than the national average price for gasoline. What is your claim about this problem? What is the null hypothesis of this study? 2. You carry out a test of the hypothesis described in #1. If the results show that you cannot reject the null hypothesis, what conclusion can you generate based on your claim? 3. Explain why accepting the null hypothesis is not a possible outcome. 4. What type of correlation would you expect between wages and the unemployment rate?
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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Question
Explain your reasoning.
1. Since the pandemic, the price of gasoline varies constantly from the last two months.
However, you observed that local gas stations charge higher price. You want to test your
hypothesis that local gas stations are charging much more than the national average
price for gasoline. What is your claim about this problem? What is the null hypothesis of
this study?
2. You carry out a test of the hypothesis described in #1. If the results show that you cannot
reject the null hypothesis, what conclusion can you generate based on your claim?
3. Explain why accepting the null hypothesis is not a possible outcome.
4. What type of correlation would you expect between wages and the unemployment rate?
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