Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help in this one 1. For a trip to Barcelona in summer 2013, a random sample of prices (in } per night for a double

help in this one

image text in transcribed
1. For a trip to Barcelona in summer 2013, a random sample of prices (in } per night for a double room was obtained: 239 237 245 310 218 175 330 196 178 245 255 190 330 124 162 150 386 145 175 210 340 276 139 180 177 222 253 171 164 201 Suppose we wish to carry out a hypothesis test to determine whether or not the true population mean is 200 per night. The data is contained in the SPSS le Baroelona. la} Explain why the conditions for carrying out statistical inference are satised lb] Write down the null and alternative hypotheses for an appropriate statistical test to answer the above question. (c} Find the mean and standard deviation of the sample. (d) Use SPSS to test your hypotheses, at 5% significance, and state your conclusion. (e) Use SPSS to nd a 95% confidence interval for the mean price. Write down an interpretation of the meaning of this interval and how it relates to the result of your hypothesis test

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

Mathematical Analysis For Quantitative Finance

Authors: Daniele Ritelli, Giulia Spaletta

1st Edition

1351245104, 9781351245104

More Books

Students also viewed these Mathematics questions

Question

What is memory?

Answered: 1 week ago

Question

3. Im trying to point out what we need to do to make this happen

Answered: 1 week ago

Question

1. I try to create an image of the message

Answered: 1 week ago