The average cost of groceries for a US household in 2019 was $387 per month. An economist claims that the average cost for groceries is now higher due to inflation and supply chain issues. A random sample of 32 households had a mean of $412 with a standard deviation of $45. At the x= 0.05 significance level, is there evidence to support the economists claim? a. Write the null and alternative hypothesis b. Find the test statistic (2 decimal places) c. Find the p-value (4 decimal places) d. Decision: reject or fail to reject? Why? e. Conclusion in context of the problem Calculator Command

A polling organization reported data from a survey of 2000 randomly selected Canadians who carry debit cards. Participants in this survey were asked what they considered the minimum purchase amount for which it would be acceptable to use a debit card. Suppose that the sample mean and standard deviation were $9.14 and $7.70, respectively. (These values are consistent with a histogram of the sample data that appears in the report.)Do these data provide convincing evidence that the mean minimum purchase amount for which Canadians consider the use of a debit card to be appropriate is less than $10? Carry out a hypothesis test with a significance level of 0.01. (Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to four decimal places.)   t  =    P-value  =     State your conclusion. Reject H0. We do not have convincing evidence that the mean minimum purchase amount for which Canadians consider it…

Students who graduated from college in 2010 owed an average of $25,000 in student loans. An economist wants to determine if average debt has changed. She takes a sample of 40 recent graduates and finds that their average debt is $27,500 with a population standard deviation of $9,120. Use 10% significance level to answer the following questions.  a. Specify the competing hypotheses to test economists ‘claim. b. Calculate the value of the test statistic. c. Is the portfolio manager's claim substantiated by the data? Explain.

The University of Montana admission standards require students to have an ACT score of at least 22. We know that Montana ACT scores are normally distributed with a mean of 20.1 and a standard deviation of 4. A: Students in Oregon have a mean ACT score of 21.1 with a standard deviation of 2.8. If we chose one student each at random from Oregon and from Montana, which student would be more likely to meet the ACT requirements of the University of Montana? Explain your answer using the appropriate statistics and a correctly labeled and shaded normal distribution. B: We know that the Montana ACT scores are normally distributed with a mean of 20.1 and a standard deviation of 4. Assume that the top 2% of individuals in the state are eligible for a state-funded scholarship. What score does an individual need on the ACT to be eligible? Explain your answer using the appropriate statistics and a correctly labeled and shaded normal distribution