Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Is the variance for the amount of money, in dollars, that shoppers spend on Saturdays at the mall the same as the variancefor the amount

Is the variance for the amount of money, in dollars, that shoppers spend on Saturdays at the mall the same as the variancefor the amount of money that shoppers spend on Sundays at the mall? Suppose that theTable 13.34shows the results of astudy. (tables listed below including excel data chart)

a. Ho

b. Ha

c.In words, CLEARLY state what your random variable X bar or P represents.

d. State the distribution to use for the test.

e. What is the test statistic?

f. What is the p-value? In one or two complete sentences, explain what the p-value means for this problem.

g.Use the previous information to sketch a picture of this situation. CLEARLY, label and scale the horizontal axis and shade the region(s) corresponding to the p-value.

h.Indicate the correct decision ("reject" or "do not reject" the null hypothesis), the reason for it, and write an appropriate conclusion, using complete sentences

Alpha: _______

Decision: _______

Reason for decision: _______

Conclusion: _______

i.Construct a 95% confidence interval for the true mean or proportion. Include a sketch of the graph of the situation. Label the point estimate and the lower and upper bounds of the confidence interval.(please help with questions a-i)

Saturday Sunday
75 44
18 58
150 61
94 19
62 99
73 60
62 89
0 137
124 82
50 39
31 127
118 141

73

Saturday Sunday
Mean 71.41666667 79.15384615
Variance 1987.174242 1467.307692
Observations 12 13
df 11 12
F 1.354299615
P(F<=f) one-tail 0.304492709
F Critical one-tail 2.717331441

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_2

Step: 3

blur-text-image_3

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

Advanced Engineering Mathematics

Authors: ERWIN KREYSZIG

9th Edition

0471488852, 978-0471488859

More Books

Students also viewed these Mathematics questions

Question

=+Show how equilibrium maximizes producer and consumer surplus.

Answered: 1 week ago