{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-19T08:14:55-04:00", "answer_date": "2024-05-19 08:14:55", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1315129", "url": "\/study-help\/questions\/question-1-in-2015-business-insider-reported-that-a-small-1315129", "question_creation_date_js": "2024-05-19T08:14:55-04:00", "question_creation_date": "May 19, 2024 08:14 AM", "meta_title": "[Solved] QUESTION 1 In 2015, Business Insider repo | SolutionInn", "meta_description": "Answer of - QUESTION 1 In 2015, Business Insider reported that a small business with no employees will have an average revenue of | SolutionInn", "meta_keywords": "question,1,2015,business,insider,reported,small,employees,will,average,revenue,$45,000", "question_title_h1": "QUESTION 1 In 2015, Business Insider reported that a small business with no employees will have an average revenue of $45,000 per year. Last year", "question_title": "QUESTION 1 In 2015, Business Insider reported that a small business with", "question_title_for_js_snippet": "QUESTION 1 In 2015, Business Insider reported that a small business with no employees will have an average revenue of $45,000 per year Last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980 This data is normally distributed with a sample standard deviation of $14,000 Test if the average revenue of a small business with no employees is now more than $45,000 using a 0 05 significance level What type of test would we use for this example Z Test for a Proportion T Test for a Proportion Z Test for a Mean T Test for a Mean 1 points QUESTION 2 In 2015, Business Insider reported that a small business with no employees will have an average revenue of $45,000 per year Last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980 This data is normally distributed with a sample standard deviation of $14,000 Test if the average revenue of a small business with no employees is now more than $45,000 using a 0 05 significance level Select the correct hypotheses for this test H 0 p $45,000 H a p $45,000 H 0 $45,000 H a $45,000 H 0 p $45,000 H a p $45,000 H 0 $46,980 H a $46,980 H 0 $46,980 H a $46,980 2 points QUESTION 3 In 2015, Business Insider reported that a small business with no employees will have an average revenue of $45,000 per year Last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980 This data is normally distributed with a sample standard deviation of $14,000 Test if the average revenue of a small business with no employees is now more than $45,000 using a 0 05 significance level Find the test startistic and p value for this example (Round answers to 2 decimal places) Test Statistic P value 3 points QUESTION 4 In 2015, Business Insider reported that a small business with no employees will have an average revenue of $45,000 per year Last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980 This data is normally distributed with a sample standard deviation of $14,000 Test if the average revenue of a small business with no employees is now more than $45,000 using a 0 05 significance level Using the test statistic and p value, what is the correct decision and conclusion for this test Fail to Reject Ho There is enough evidence to show that the average revenue of a small business with no employees is actually less than $45,000 Fail to Reject Ho There is not enough evidence to show that the average revenue of a small business with no employees is now more than $45,000 Reject Ho There is enough evidence to show that the average revenue of a small business with no employees is now more than $45,000 Fail to Reject Ho There is enough evidence to show that the average revenue of a small business with no employees is now $45,000 Reject Ho There is not enough evidence to show that the average revenue of a small business with no employees is now $45,000 2 points QUESTION 5 We know that last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980 This data is normally distributed with a sample standard deviation of $14,000 Find the 90 confidence interval for the average annual revenue (If needed, round to nearest dollar) Confidence interval ( $ , $ )", "question_description": "

QUESTION 1<\/p>

In 2015, Business Insider reported that a small business with no employees will have an average revenue of $45,000 per year. Last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980. This data is normally distributed with a sample standard deviation of $14,000. Test if the average revenue of a small business with no employees is now more than $45,000 using a 0.05 significance level.<\/p>

What type of test would we use for this example?<\/strong><\/p>

<\/td> <\/td> Z-Test for a Proportion<\/td> <\/tr>
<\/td> <\/td> T-Test for a Proportion<\/td> <\/tr>
<\/td> <\/td> Z-Test for a Mean<\/td> <\/tr>
<\/td> <\/td> T-Test for a Mean<\/td> <\/tr> <\/tbody><\/table><\/figure>

1 points<\/p>

QUESTION 2<\/p>

In 2015, Business Insider reported that a small business with no employees will have an average revenue of $45,000 per year. Last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980. This data is normally distributed with a sample standard deviation of $14,000. Test if the average revenue of a small business with no employees is now more than $45,000 using a 0.05 significance level.<\/p>

Select the correct hypotheses for this test.<\/strong><\/p>

<\/td> <\/td>

H0<\/sub>: p = $45,000<\/p>

Ha<\/sub>: p < $45,000<\/p> <\/td> <\/tr>

<\/td> <\/td>

H0<\/sub>: = $45,000<\/p>

Ha<\/sub>: > $45,000<\/p> <\/td> <\/tr>

<\/td> <\/td>

H0<\/sub>: p = $45,000<\/p>

Ha<\/sub>: p $45,000<\/p> <\/td> <\/tr>

<\/td> <\/td>

H0<\/sub>: = $46,980<\/p>

Ha<\/sub>: > $46,980<\/p> <\/td> <\/tr>

<\/td> <\/td>

H0<\/sub>: = $46,980<\/p>

Ha<\/sub>: < $46,980<\/p> <\/td> <\/tr> <\/tbody><\/table><\/figure>

2 points<\/p>

QUESTION 3<\/p>

In 2015, Business Insider reported that a small business with no employees will have an average revenue of $45,000 per year. Last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980. This data is normally distributed with a sample standard deviation of $14,000. Test if the average revenue of a small business with no employees is now more than $45,000 using a 0.05 significance level.<\/p>

Find the test startistic and p-value for this example.<\/strong> (Round answers to 2 decimal places)<\/em><\/p>

Test Statistic: ____________<\/p>

P-value: _____<\/p>

3 points<\/p>

QUESTION 4<\/p>

In 2015, Business Insider reported that a small business with no employees will have an average revenue of $45,000 per year. Last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980. This data is normally distributed with a sample standard deviation of $14,000. Test if the average revenue of a small business with no employees is now more than $45,000 using a 0.05 significance level.<\/p>

Using the test statistic and p-value, what is the correct decision and conclusion for this test?<\/strong><\/p>

<\/td> <\/td> Fail to Reject Ho. There is enough evidence to show that the average revenue of a small business with no employees is actually less than $45,000.<\/td> <\/tr>
<\/td> <\/td> Fail to Reject Ho. There is not enough evidence to show that the average revenue of a small business with no employees is now more than $45,000.<\/td> <\/tr>
<\/td> <\/td> Reject Ho. There is enough evidence to show that the average revenue of a small business with no employees is now more than $45,000.<\/td> <\/tr>
<\/td> <\/td> Fail to Reject Ho. There is enough evidence to show that the average revenue of a small business with no employees is now $45,000.<\/td> <\/tr>
<\/td> <\/td> Reject Ho. There is not enough evidence to show that the average revenue of a small business with no employees is now $45,000.<\/td> <\/tr> <\/tbody><\/table><\/figure>

2 points<\/p>

QUESTION 5<\/p>

We know that last year a random sample of 100, found that a small business with no employees had an average annual revenue of $46,980. This data is normally distributed with a sample standard deviation of $14,000.<\/p>

Find the 90% confidence interval for the average annual revenue. <\/strong>(If needed, round to nearest dollar)<\/em><\/p>

Confidence interval: ( $__________ , $___________ )<\/p>", "transcribed_text": "", "related_book": { "title": "Statistics The Exploration & Analysis Of Data", "isbn": "0840058012, 978-0840058010", "edition": "7th Edition", "authors": "Roxy Peck, Jay L. 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