MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
expand_more
expand_more
format_list_bulleted
Related questions
Question
we are going to run a hypothesis test based on a claim made by an insurance provider. Read the following:
An insurance provider states that their customers save at least, on average, 300 dollars per year by switching to them, with a standard deviation of 150 dollars. Before we decide to switch to the new company and go through all of the hassle, we want to test the claim. So, we go out and sample 64 individuals who switched to the new insurance company and found them to have saved an average of 255 dollars per year. Do we have enough evidence at the α = 0.05 level to state that the insurance provider is false in their claim?
Answer the following questions
- What are the hypotheses based on the words given in the problem?
- Should we use a Z or T distribution in this case?
- What is our Z or T statistic?
- What is the P-value?
- Based on your p-value and alpha, what conclusion will we make?
- Based on your results, would you switch to this company? Explain why or why not (Note: this can go beyond the use of statistics, but statistical analysis can help our decisions
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 6 steps with 25 images
Knowledge Booster
Similar questions
- A newspaper reporter is writing an article on employment status for young people who don’t have a high school diploma. She obtains employment data from 24 randomly selected full-time young male workers without a high school diploma. This data has a sample mean of $24,970 with standard deviation of $2300. Using this sample data to test the claim that the mean annual salary of all full-time young male workers (without a high school diploma) is different from $26,000, we get the following results from the TI-84. Using a 0.05 level of significance, state the conclusion in terms of the given claim and explain how this conclusion was reachedarrow_forwardOn a final exam a student was asked to define sampling error. He wrote: "sampling error is roughly the average difference between a sample statistic and the population parameter". Unfortunately, this is not the definition of sampling error, but it is the correct definiition of something else. What has the student defined?arrow_forwardplease solve question 4.19 attached 4.11 for your referencearrow_forward
- Carlos and Devon both accepted new jobs at different companies. Carlos's starting salary is $32,000 and Devon's starting salary is $33,000. They are curious to know who has a better starting salary when compared to the salary distributions of their new employers. A website that collects salary information from a sample of employees for a number of major employers reports that Carlos's company offers a mean salary of $54,000 with a standard deviation of $6,000. Devon's company offers a mean salary of $44,000 with a standard deviation of $4,000. Find the z-scores corresponding to each of their starting salaries. Round to two decimal places, if necessaryarrow_forward3) Please answer all parts of the question correctly.arrow_forwardAccording to the College Board, scores on the math section of the SAT Reasoning college entrance test for the class of 2010 had a mean of 516 and a standard deviation of 116. Assume that they are roughly normal.One of the quartiles of the scores from the math section of the SAT Reasoning test is 438. The other quartile is _______.arrow_forward
- A population mean is 13. The sample mean is 12.8, and the sample standard deviation is 2. The sample size is 20. What standard error would you use to conduct a hypothesis test on the mean?arrow_forwardSuppose a subdivision on the southwest side of Denver, Colorado, contains 1,800 houses. The subdivision was built in 1983. A sample of 110 houses is selected randomly and evaluated by an appraiser. If the mean appraised value of a house in this subdivision for all houses is $229,000, with a standard deviation of $8,500, what is the probability that the sample average is greater than $231,000? Appendix A Statistical Tables (Round the values of z to 2 decimal places, e.g. 15.25. Round your answer to 4 decimal places, e.g. 0.2513.)enter probability rounded to 4 decimal placesarrow_forwardThe U.S. Fish and Wildlife Service reported that the lengths of six-year-old rainbow trout in the Arolik River in Alaska are normally distributed with a mean of 481 millimeters and standard deviation of 41 millimeters. If a six-year-old rainbow trout from the Arolik River is selected at random, what is the probability it's length is more than 500 millimeters? Question 5 options: 0.1588 0.3215 0.4576 0.6785arrow_forward
- MC Qu. 10-64 Sales at a fast-food restaurant average... Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to Increase daily sales. In order to determine the effectiveness of the advertising campaign, a sample of 49 day's sales were taken. The sample showed average daily sales of $6,300. From past history, the restaurant knew that its population standard deviation is about $1,000. If the level of significance is 0.01, have sales increased as a result of the advertising campaign? Multiple Choice Fail to reject the null hypothesis. Reject the null hypothesis and conclude the mean is higher than $6,000 per day. Reject the null hypothesis and conclude the mean is lower than $6,000 per day. Reject the null hypothesis and conclude that mean equal to $6,000 per day.arrow_forwardAnswer quickly please. Need answer ASAP. A study was made to determine if the subject matter in a physics course is better understood when a lab constitutes part of the course. Students were randomly selected to participate in either a 3-semester-hour course without labs or a 4-semester-hour course with labs. In the section with labs, 17 students made an average grade of 85 with a standard deviation of 4.7, and in the section without labs, 17 students made an average grade of 79 with a standard deviation of 6.1. Construct 90% confidence interval for the difference of the mean grades between the two physics courses. Based on your interval, would you say that the laboratory course increases the average grade? Assume the populations to be approximately normally distributed.arrow_forwardTwo statistics teachers both believe that each has the smarter class. To put this to the test, they give the same final exam to their students. A summary of the class sizes, class means, and standard deviations is given below: ?1=41,?2=40,?¯1=82.4,?¯2=84,?1=15.5?2=18n1=41,x¯1=82.4,s1=15.5n2=40,x¯2=84,s2=18 Is there evidence, at an ?=0.01α=0.01 level of significance, to conclude that there is a difference in the two classes? (Assume that the population variances are equal.) Carry out an appropriate hypothesis test, filling in the information requested. A. The value of the standardized test statistic: Note: For the next part, your answer should use interval notation. An answer of the form (−∞,?)(−∞,a) is expressed (-infty, a), an answer of the form (?,∞)(b,∞) is expressed (b, infty), and an answer of the form (−∞,?)∪(?,∞)(−∞,a)∪(b,∞) is expressed (-infty, a)U(b, infty). B. The rejection region for the standardized test statistic:arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning 
Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSON
The Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. Freeman
Introduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman