Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On average, all Canadian spend $300 a month on food in 2019. When considering the cost of attending UBC, many new students wonder whether they

image text in transcribedimage text in transcribedimage text in transcribed

On average, all Canadian spend $300 a month on food in 2019. When considering the cost of attending UBC, many new students wonder whether they need to spend much more on food than the national average. To help university students budget, in the same year, a team collected the monthly groceries costs of 130 current randomly selected students and calculated the mean and standard deviation. Part a) Which of the following is/are the parameter(s) in the context of this problem? (Select all that apply) A. The average monthly spending on groceries in dollars of all UBC students in 2019. B. 130 C. The average monthly spending on groceries in dollars of the 130 UBC students. D. The variance in monthly spending on groceries in dollars of all UBC students in 2019. OE. None of the above. Part b) What would your null hypothesis be for the hypothesis test to be conducted? A. The mean monthly spending on groceries amount of all UBC students is $300. OB. The mean monthly spending on groceries amount of all Canadians is less than $300. C. The mean monthly spending on groceries amount of all Canadians is greater than $300. OD. The mean monthly spending on groceries amount of all Canadians is different from $300. O E. The mean monthly spending on groceries amount of all UBC students is greater than $300. OF. The mean monthly spending on groceries amount of all UBC students is different from $300. G. The mean monthly spending on groceries amount of all UBC students is less than $300. OH. The mean monthly spending on groceries amount of all Canadians is $300. Part c) You would take the alternative hypothesis to be: O A. it does not matter whether we take a one-sided or two-sided alternative. OB. one-sided, right-tailed or one sided left.tailed Part c) You would take the alternative hypothesis to be: A. it does not matter whether we take a one-sided or two-sided alternative. OB. one-sided, right-tailed OC. one-sided, left-tailed OD. two-sided Part d) Suppose that, based on data collected, you reject the null hypothesis. Which of the following could you conclude? O A. There is sufficient evidence to suggest the average monthly spending on groceries of all UBC students is higher than the average monthly spending on groceries of Canadians. OB. There is sufficient evidence to suggest the average monthly spending on groceries of all UBC students is less than the average monthly spending on groceries of all Canadians. OC. There is sufficient evidence to suggest the average monthly spending on groceries of all UBC students is the same as the average monthly spending on groceries of all Canadians. OD. There is insufficient evidence to suggest the average monthly spending on groceries of all UBC students is less than the average monthly spending on groceries of all Canadians. O E. There is insufficient evidence to suggest the average monthly spending on groceries of all UBC students is higher than the average monthly spending on groceries of all Canadians. OF. There is insufficient evidence to suggest the average monthly spending on groceries of all UBC students is the same as the average monthly spending on groceries of all Canadians. Parte) Which of the following statements is correct based on your conclusion in part d)? A. it is possible that you are making a Type Il error. OB. it is certainly correct that all UBC students spend more on groceries per month on average than all Canadians. OC. there is a potential problem with the way the sample was obtained. OD. it is possible that you are making a Type I error. O E. it is certainly incorrect that all UBC students spend more on groceries per month on average than all Canadians. Part f) Suppose that, based on the data collected, you obtain a P-value of 0.03. This means: A. the sample of UBC students spent relatively less if indeed the true mean monthly spending on groceries of a student is $ 300. OB. the probability of the mean monthly spending on groceries of all UBC students being $ 300 or more is 0.03 if indeed the true mean monthly spending is $ 300. C. there is a 3% chance that all UBC students spend less per month on average than all Canadians. D. there is a 3% chance that all UBC students spend more per month on average than all Canadians. E. the sample of UBC students spent relatively more if indeed the true mean monthly spending on groceries of a student is $ 300. F. the probability of the mean monthly spending on groceries of all UBC students being $ 300 or less is 0.03 if indeed the true mean monthly spending is $ 300. a Part g) Based on the P-value that was obtained in part f), you would (Select all that apply): A. fail to reject the null hypothesis at all. B. believe the null hypothesis is true. C. neither reject nor accept the null hypothesis. D. reject the null hypothesis at a = 0.1 level of significance. E. reject the null hypothesis at a - 0.05 level of significance. F. None of the above. On average, all Canadian spend $300 a month on food in 2019. When considering the cost of attending UBC, many new students wonder whether they need to spend much more on food than the national average. To help university students budget, in the same year, a team collected the monthly groceries costs of 130 current randomly selected students and calculated the mean and standard deviation. Part a) Which of the following is/are the parameter(s) in the context of this problem? (Select all that apply) A. The average monthly spending on groceries in dollars of all UBC students in 2019. B. 130 C. The average monthly spending on groceries in dollars of the 130 UBC students. D. The variance in monthly spending on groceries in dollars of all UBC students in 2019. OE. None of the above. Part b) What would your null hypothesis be for the hypothesis test to be conducted? A. The mean monthly spending on groceries amount of all UBC students is $300. OB. The mean monthly spending on groceries amount of all Canadians is less than $300. C. The mean monthly spending on groceries amount of all Canadians is greater than $300. OD. The mean monthly spending on groceries amount of all Canadians is different from $300. O E. The mean monthly spending on groceries amount of all UBC students is greater than $300. OF. The mean monthly spending on groceries amount of all UBC students is different from $300. G. The mean monthly spending on groceries amount of all UBC students is less than $300. OH. The mean monthly spending on groceries amount of all Canadians is $300. Part c) You would take the alternative hypothesis to be: O A. it does not matter whether we take a one-sided or two-sided alternative. OB. one-sided, right-tailed or one sided left.tailed Part c) You would take the alternative hypothesis to be: A. it does not matter whether we take a one-sided or two-sided alternative. OB. one-sided, right-tailed OC. one-sided, left-tailed OD. two-sided Part d) Suppose that, based on data collected, you reject the null hypothesis. Which of the following could you conclude? O A. There is sufficient evidence to suggest the average monthly spending on groceries of all UBC students is higher than the average monthly spending on groceries of Canadians. OB. There is sufficient evidence to suggest the average monthly spending on groceries of all UBC students is less than the average monthly spending on groceries of all Canadians. OC. There is sufficient evidence to suggest the average monthly spending on groceries of all UBC students is the same as the average monthly spending on groceries of all Canadians. OD. There is insufficient evidence to suggest the average monthly spending on groceries of all UBC students is less than the average monthly spending on groceries of all Canadians. O E. There is insufficient evidence to suggest the average monthly spending on groceries of all UBC students is higher than the average monthly spending on groceries of all Canadians. OF. There is insufficient evidence to suggest the average monthly spending on groceries of all UBC students is the same as the average monthly spending on groceries of all Canadians. Parte) Which of the following statements is correct based on your conclusion in part d)? A. it is possible that you are making a Type Il error. OB. it is certainly correct that all UBC students spend more on groceries per month on average than all Canadians. OC. there is a potential problem with the way the sample was obtained. OD. it is possible that you are making a Type I error. O E. it is certainly incorrect that all UBC students spend more on groceries per month on average than all Canadians. Part f) Suppose that, based on the data collected, you obtain a P-value of 0.03. This means: A. the sample of UBC students spent relatively less if indeed the true mean monthly spending on groceries of a student is $ 300. OB. the probability of the mean monthly spending on groceries of all UBC students being $ 300 or more is 0.03 if indeed the true mean monthly spending is $ 300. C. there is a 3% chance that all UBC students spend less per month on average than all Canadians. D. there is a 3% chance that all UBC students spend more per month on average than all Canadians. E. the sample of UBC students spent relatively more if indeed the true mean monthly spending on groceries of a student is $ 300. F. the probability of the mean monthly spending on groceries of all UBC students being $ 300 or less is 0.03 if indeed the true mean monthly spending is $ 300. a Part g) Based on the P-value that was obtained in part f), you would (Select all that apply): A. fail to reject the null hypothesis at all. B. believe the null hypothesis is true. C. neither reject nor accept the null hypothesis. D. reject the null hypothesis at a = 0.1 level of significance. E. reject the null hypothesis at a - 0.05 level of significance. F. None of the above

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

Advanced Management Accounting

Authors: Robert S. Kaplan, Anthony A. Atkinson, Kaplan And Atkinson

3rd Edition

0132622882, 978-0132622882

More Books

Students also viewed these Accounting questions