Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Don't understand the entire question LE Homework Sets il. Grades Problems HW05-FS21: Problem 1 Problem 1 ..- Problem Value: 13 point(s). Problem Score: 77%. Attempts

Don't understand the entire question

image text in transcribedimage text in transcribed
LE Homework Sets il. Grades Problems HW05-FS21: Problem 1 Problem 1 ..- Problem Value: 13 point(s). Problem Score: 77%. Attempts Remaining: 2 attempts. Problem 2 Problem 3 (13 points) Problem 4 401(k) ~ Suppose a recent random sample of employees nationwide that have a 401(k) retirement plan found that 20% of them had borrowed against it in the last year. A local company is interested in Problem 5 assessing whether this proportion adequately describes the borrowing behavior of their employees. They take a random sample of 110 employees and find that 15 had borrowed from their plan. Conduct a Problem 6 hypothesis test to investigate whether the borrowing rate at this company is different from the nationally reported figure of 20%. Problem 7 Round all numeric results to 4 decimal places Problem 8 1. Write the hypotheses to test if the proportion of employees borrowing from their plan is different from the percentage reported nationwide. Ho: The proportion of employees who have borrowed from their plan is the same as v the 20% reported nationwide. The difference is due to chance. Ha: The proportion of employees who have borrowed from their plan is different from v the 20% reported nationwide. The difference is not v due to chance. 2. Calculate the proportion of employees in the sample who borrowed from their retirement plan. p = .1364 3. Describe a setup for a simulation that would be appropriate in this situation and how the p-value can be calculated using the simulation results. To set up a simulation for this situation, we let each employee be represented with a card. We take 100 cards, 80 green cards represent employees who have borrowed from their plan and 20 white cards represent employees who have not. Shuffle the cards and draw with replacement 110 cards representing the random sample of employees. Calculate the proportion of green v cards in the sample and call it p sim- Repeat 3,000 times and plot the resulting sample proportions. The p-value will be the proportion of simulations where p sim is further from 0.2 than v .1364 4. Use the One Proportion Resampling Test app to conduct the simulation. Draw at least 3000 samples, then report your p-value from the app. Use this external link to the One Proportion Resampling Test if the app does not load properly on your computer. (Right click to open in a new tab or window.) One Proportion Resampling Test Shuffle InstructionsC LE Homework Sets il. Grades Shuffle Instructions Plot Type Dotplot Proportion or Counts Proportion Presets Custom Probability of Success Sample Size O Overlay Normal Curve O Show summary statistics Count Samples greater Reset than Number of Samples 100 Enter a value from 1 to 5000 Draw Samples p-value: .01 5. Jackson is another small business owner. He uses the same hypotheses and data from his own company to conduct this test and calculates a p-value of 0.0017. How much evidence does Jackson have that the null hypothesis model is not a good fit for his observed result? O A. Little OneDrive OB. Some O C. Strong Screenshot saved The screenshot was added to your O D. Very Strong OneDrive. OE. Extremely Strong

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

10th Edition

324300980, 978-0324300987

Students also viewed these Mathematics questions

Question

What is the general form of a ???? statistic?

Answered: 1 week ago