Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2018, an average of $ 11,250 (per quarter) was spent nationally on food. According to the National Survey of Household Income and Expenditure carried

In 2018, an average of $ 11,250 (per quarter) was spent nationally on food. According to the National Survey of Household Income and Expenditure carried out in 2018, the average quarterly expenditure on food for the 2,857 selected households in the state of Mexico was $ 13,485 and the standard deviation was $ 12,000. 

a) Establishes the hypotheses to test whether food spending in the state of Mexico is higher than spending at the national level. 

b) Calculate the test statistic. 

c) At a significance level of 10%, what is the conclusion? (Don't forget to interpret the results). 

d) Calculate a 90% confidence interval for the average quarterly expenditure on food in the state of Mexico.

Step by Step Solution

3.37 Rating (153 Votes )

There are 3 Steps involved in it

Step: 1

Given u 0 11250 n2857 meanx13485 standard deviation12000 a T... 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

Statistics

Authors: James T. McClave, Terry T Sincich

12th Edition

9780321831088, 321755936, 032183108X, 978-0321755933

More Books

Students also viewed these Accounting questions

Question

What are managements motivations for effective internal control?

Answered: 1 week ago