2. 130 POINTS-5+10+5+10] REPEAT THE PREVIOUS PART (WITH SAMPLE SIZE = 25) IF THE

Question

2. 130 POINTS-5+10+5+10] REPEAT THE PREVIOUS PART (WITH SAMPLE SIZE = 25) IF THE SUMMARIES (SAMPLE MEAN) = $6,100 AND (SAMPLE STANDARD DEVIATION)-$2,500 ARE ACCOMPANIED BY THE ASSUMPTION THAT THE POPULATION STANDARID DEVIATION IS KNOWN AS $1,250. (A) WHAT IS THE TEST STATISTIC VALUE? TEST STATISTIC VALUE = AT THE 5% SIGNIFICANCE LEVEL, DO WE HAVE SUFFICIENT EVIDENCE THAT THE POPULATION AVERAGE BONUS WAS BELow $7,000? (B) CIRCLE APPROPRIATE ANSWER: YES! NO! (C) SHOW THE CRITICAL VALUE(S) NEEDED FOR YOUR DECISION AND FORMULATE THE REJECTION RUL CRITICAL VALUE(S): REJECTION RULE STATES... AT THE SAME 5% SIGNIFICANCE LEVEL, DO WE HAVE SUFFICIENT EVIDENCE (D) THAT THE POPULATION AVERAGE BONUS DIFFERS FROM $7,000? CIRCLE APPROPRIATE ANSWER: YES NO! (E) SHOW THE CRITICAL VALUE(S) NEEDED FOR YOUR DECISION AND FORMULATE THE REJECTION RULE. CRITICAL VALUE(S): REJECTION RULE STATES...

Explanation / Answer

a) std error of mean =std deviation/(n)1/2 =1250/(25)1/2 =250

therefore test statistic Z=(X-mean)/std error =(6100-7000)/250= -3.6

B) Yes

C) at 5% critical value z=1.6449

rejection rule: reject null hypotheis if zcalc <-1.6449

d)

Yes

e)

critical values z =-1.96 and 1.96

rejection rule: reject Ho if z<-1.96 or z >1.96

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.