Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help with 1 please thank you :) i accidentatly put accounting sorry 1. The state of California has a mean annual rainfall of 22

please help with 1 please thank you :)
image text in transcribed
i accidentatly put accounting sorry
1. The state of California has a mean annual rainfall of 22 inches, whereas the state of New York has a mean annual rainfall of 42 inches. Assume that the standard deviation for both states is 4 inches. A sample of 30 years of rainfall for California and a sample of 45 years of rainfall for New York has been taken. a) Show the sampling distribution of the sample mean annual rainfall for California. b) Show the sampling distribution of the sample mean annual rainfall for New York. c) In which of the preceding two cases, part (a) or part (b), is the standard error of smaller? Why? 2. Which is cheaper: eating out or dining in? The mean cost of a flack steak, broccoli, and rice bought at the grocery store is $13.04. a sample of 100 neighborhood restaurants showed a mean price of $ 12.75 and a standard deviation of $2 for a comparable restaurant meal. a) Develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b) Using the sample from the 100 restaurants, what is the p value? c) At a = 0.05, what is your conclusion? 3. Ten years ago, 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicate that the percentage is now 46%. a) Develop appropriate hypotheses such that the rejection of H, will support the conclusion that a smaller proportion of American families own stocks or stock funds this year than 10 years ago. b) Assume that the Investment Company Institute sampled 300 American families to estimate the percent owning stocks or stock funds is 46% this year. What is the p value for your hypothesis test? c) At a = 0.01, what is your conclusion

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

Accounting

Authors: Carl S. Warren, James M. Reeve, Philip E. Fess

20th Edition

0324025424, 978-0324025422

More Books

Students also viewed these Accounting questions

Question

Describe the main features of the VSEPR model.

Answered: 1 week ago