Let x be a random variable that represents the average daily temperature (in degrees Fahrenheit) in January
Question:
(i) Remember that μ = 68 and Ï = 4. Examine Figure 7-3 in Chapter 7. Write a brief explanation for columns I, II, and III in the context of this problem.
(ii) Use a 1% level of significance to test the claim that the average daily January temperature follows a normal distribution with μ = 68 and Ï = 4.
Please provide the following information.
(a) What is the level of significance? State the null and alternate hypotheses.
(b) Find the value of the chi-square statistic for the sample. Are all the expected frequencies greater than 5? What sampling distribution will you use? What are the degrees of freedom?
(c) Find or estimate the P-value of the sample test statistic.
(d) Based on your answers in parts (a)(c), will you reject or fail to reject the null hypothesis that the population fits the specified distribution of categories?
(e) Your conclusion in the context of the application.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Step by Step Answer:
Understanding Basic Statistics
ISBN: 9781111827021
6th Edition
Authors: Charles Henry Brase, Corrinne Pellillo Brase