Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with this STAT problem in the screenshot below: An association of college bookstores reported that the average amount of money spent by

I need help with this STAT problem in the screenshot below:

image text in transcribed
An association of college bookstores reported that the average amount of money spent by all students on textbooks nationally for the Fall 1999 semester was $330.25. You perform a random sample of 70 college students indicated an average bill for textbooks for the semester in question to be $321.67 with a standard deviation of $96.42. You believe that the national average is actually lower than their claim of $330.25, and decide to perform a significance test of the association's claim at the a =0.1 level of significance. Identify and define the parameter of interest. a) It =$321.67, the average money spent on textbooks by students in your sample b) u =$330.25, the average money spent on textbooks by students nationally c) it =$330.25, the average money spent on textbooks by students nationally 26 d) u =$321.67, the average money spent on textbooks by students in your sample e) x =330.25, the average money spent on textbooks by students in your sample State the null and alternative hypotheses. a) Ho: H = 321.67, HA : H 330.25 Calculate the test statistic: 28 a) z = -0.0889 b) t = -0.0889 c) z = -0.744 d) t = -0.744 Compute a good approximation of the p-value: a) p = .0985 b) p =.2284 c) p = .4684 d) p= .7705 29 In the context of this situation, your test decision would be .... a) to announce that you have proven the association's claim correct b) to announce that there is NO strong evidence that the association's claim is correct. 30 c) to announce that you have proven the association's claim wrong. d) to announce that there is NO strong evidence that the association's claim is wrong

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

Mathematics Concepts With Applications

Authors: Charles P McKeague

1st Edition

1630983136, 9781630983130

More Books

Students also viewed these Mathematics questions

Question

How is culture evidenced?

Answered: 1 week ago

Question

c. What were you expected to do when you grew up?

Answered: 1 week ago