*SHOW WORK PLEASE* 4. Establish the decision rule (clearly show the rejection re
ID: 3371407 • Letter: #
Question
*SHOW WORK PLEASE* 4. Establish the decision rule (clearly show the rejection region shaded and label the critical values)5. Gather the sample data (or explain how the data was obtained) and give summary data ???????
6. Analyze the data (add values to graph in #4). 1. The average age for a businesswoman in 2008 was reported as 41 years old. Researchers believe that this age has increased and sampled 97 businesswomen and ascertained a sample mean of 43.4. From past experience, it is known that the population standard deviation is 895 Test to determine if the mean age of a businesswoman has increased using the 1% level of significance. 1. Establish a null and alternative hypothesis Is this a one-tailed or two-tailed test? How do you know? 2. Determine the appropriate statistical test (explain why you are using the test that you chose) 3. Set the value of alpha, find critical values and explain the Type I error rate critical values Explain what the Type I error means in terms of the problem data. 4. Establish the decision rule (clearly show the rejection region shaded and label the critical values) 5. Gather the sample data (or cxplain how the data was obtained) and give summary data 6. Analyze the data (add values to graph in #4). 7. Reach a statistical conclusion and state in both the test statistic vs critical value as well as the p-value. 8. Make a business decision 2. At Chase Bank, a teller can serve 22 customers per hour with an old computer system. The management noticed, at this rate the wait time for customers is too long and thus installed a new computer system to increase the service rate and making happier customers. To check if the new computer system is more efficient than the old system, the management took a sample of 70 houns and found that during these hours the mean number of customens served by tellers was 27 per hour with a standard deviation of 2.5 customers. Testing at a 1% significance level, would you conclude that the new computer system is more efficient than the old computer system?
Explanation / Answer
4)
this is right tailed test
alpha = 0.01
critical value = 2.327
Decision rule
reject the null of TS > 2.327
5)
sample mean = 43.4
popoulation sd = 8.95 , n = 97
6) TS = (Xbar - mu)/(Sd/sqrt(n))
= (43.4 - 41)/(8.95/sqrt(97))
= 2.64103449434
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