Exhibit 4 Given the following information on wage of employees Sample size Sampl

Question

Exhibit 4 Given the following information on wage of employees Sample size Sample mean Sample standard deviation Downtown Store 25 $9 $2 North Mall Store 20 $8 $1 Refer to Exhibit 4, A 95% interval estimate for the difference between the two population means is a. b. c. d. 14. 1.078 to 2.922 1.922 to 2.078 0.078 to 1.922 1.09 to 4.078 15. Refer to Exhibit 4. A point estimate for the difference between the two sample means is al c. There is a claims that the average yearly rate of return on the stocks is more than 10.0%. The correct set? hypotheses is a· Ho: ? 10.0% d. Ho: ? 2 10.0% 16, H,:11210.0% H,: ? > 10.0% Hai ? s10.0% H,: ?

Explanation / Answer

Answer:

1- At 95% interval estimate for the difference between the two population means is :

Given :

x?1 (sample mean of downtown store) – $9

x?2 (sample mean of north mall) - $8

?21 (sample SD downtown store) - $2

?22 (sample SD north mall) -$1

The Point of estimation for µ1 - µ2 is x?1 - x?2 :

The standard error is

??21/n1 + ?22 / n2

Value at 95% interval is 1.96

the 95% confidence interval is

(x?1 - x?2) + z ??21/n1 + ?22 / n2

Answer: 0.078 to 1.922

2- difference between 2 sample means   

$9 - $8 = 1

Answer: d

3-There is a claim that the average yearly rate of return on the stocks is more than 10.0%. the correct set of hypothesis is:

Answer: b

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