LEGEND Answer must be tuped to four decimals Answer must be chosen from drop dow
ID: 2925940 • Letter: L
Question
LEGEND Answer must be tuped to four decimals Answer must be chosen from drop down menu Answer must be typed to either 2 or 3 decimals depending on whether the Z or ttable is appropriate. Please use the tables provided in STAT 3331 (not the tables in the Note: Answer the Question(s) by Using the TI-30XA (or other approved) Calculator. IMPORTANT: Make sure you carry all decimals until you reach your answer, then round to four decimals. A sample of 11 discount brokers showed a sample mean price charged for a trade of 100 shares at $50 per share was $35.80. Assume a population standard deviation of $6.40. Test the hypothesis that the mean price charged for a trade of 100 shares at $50 per share is at most $32.00 at =0.0050. (See exercise 44 on page 372 of your textbook for a similar problem.) For the hypothesis stated above.. Question 1 Question 2 Question 3 What is the test statistic? What is the decision? What is the p-value? Fill in only one of the following statements. If the Z table is appropriate p-value- If the t table is appropriate, p-valueExplanation / Answer
The statistical software output for this problem is:
One sample Z summary hypothesis test:
: Mean of population
H0 : = 32
HA : > 32
Standard deviation = 6.4
Hypothesis test results:
Hence,
Test statistic = 1.97
Decision: Fail to Reject Ho
The Z table is appropriate, p - value = 0.0245
Mean n Sample Mean Std. Err. Z-Stat P-value 11 35.8 1.9296726 1.969246 0.0245Related Questions
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