Subject :Quantitative Methods (BADB1014) sec b 5

Tutor,please help answer below following question.Thanks

\fPOSITIVE z Scores (continued ) Cumulative Area from the LEFT 07 .08 109 101 02 03 .04 .05 .06 .5080 .5120 5160 5199 5239 5279 .5319 5359 0.0 5040 5557 5596 .5636 5675 5714 5753 5398 5438 5478 6103 6141 0.2 579 5832 5871 5910 5948 5967 5026 6368 6406 6443 6480 :6517 03 6179 6217 6255 6293 6351 6554 6591 6628 6064 6700 6756 6772 6808 68-4-4 6875 7224 05 6915 6950 6985 .7019 7054 7088 7123 7157 7190 OG .7257 7291 .7324 7357 7389 .7422 7454 7486 7517 7549 7764 7794 7824 7852 0.7 7580 7642 7673 7704 7734 8051 8078 8106 8133 7881 7910 7939 .7967 .7995 8023 8365 8389 0.9 .8159 8186 8212 8238 8264 8289 .8315 8340 8554 .857 8621 LO 8413 8438 8461 8485 850 8531 8065 8686 8708 8721 8749 8770 8790 8810 BBSO 8643 8907 8944 0962 0980 8997 9015 1.2 6849 8369 9162 9177 13 9032 9049 9066 9082 9099 ens 19131 9147 9292 9306 9319 1.4 9192 9207 9222 9236 9251 9265 9279 9406 9418 9429 9441 1.5 .9352 9145 -9457 9370 9382 9594 9535 9545 1.6 9452 9463 9474 9484 9495 9505 9515 9525 9554 9561 9573 9591 9599 9608 -9616 9625 .9633 17 9641 .9649 .9656 9664 .9671 0675 2686 9693 9:695 9706 1.8 9750 9756 9761 .9767 1.9 9715 9719 9726 9732 .9738 9744 .9817 20 9772 3778 19783 9788 9793 9790 9803 90 08 9812 985 9857 2.1 9821 9826 0850 9834 .9838 9842 9846 9850 9884 9887 9890 2.2 986 9864 9868 9871 9875 9878 9841 9904 9406 9900 19517 9913 9916 2.3 9893 .9896 .9898 .990 9929 9931 0934 9946 2.4 0918 9920 9922 9 925 9927 .9952 2.5 .9938 19940 9941 9943 0945 9946 9948 9949 9951 9965 9964 2.6 2953 9955 9956 9957 9959 1960 9961 9962 27 .9965 9906 .9967 9969 9070 397 9972 9975 .9974 2.B 9974 0975 9976 9977 9977 8466 9979 6266 9980 9981 9983 9984 9984 9985 9985 9986 9086 29 998 9982 9967 0968 9989 1989 9989 9890 .9990 3.0 4987 1866 3.1 9920 9991 .9991 .9891 9992 9992 9092 .9992 0993 9994 9994 9994 9994 9994 9995 0995 090 3.2 9923 9903 9396 9926 .9996 9996 9996 9996 .9897 3.3 9995 9495 9995 9997 9997 9397 9998 3.4 1907 9097 9997 19997 9997 1666 3.50 9099 and up Common Critical Values NOTE: For values of F above 3.49, use 0.9099 for the area. Confidence Critical Use these common values that result from interpolation. Level Value z score Area 0.90 1645 1.645 0.9500 0.95 1.96 2.575 0.9950 0.9 2.575STUDENT'S t DISTRIBUTION Confidence Intervals, c 80% 90% 95% 98% 99% 99.9% Level of Significance for One-Tailed Test, a 0.100 0.050 0.025 0.010 0.005 1.0005 Level of Significance for Two-Tailed Test, o 0.20 0.10 0.05 0.02 0.01 0.001 3.078 6.314 12.706 31.821 63.657 636.619 1.686 2.920 4.303 6.965 9.925 31.599 1.638 2.353 3.182 4.541 5.841 12.924 1.533 2.132 2.776 3.747 4.604 8.610 1.476 2 015 2.571 3.365 4.032 6.669 60940 UPON- 1,440 1,943 2.447 3.143 3.707 5.959 1.415 1.895 2.365 2.998 3.499 5.408 1.397 1.860 2.306 2.896 3.355 5.041 1.383 1.833 2 262 2.821 3.250 4.781 1.372 1.812 2.228 2.764 3.169 4.587 11 1.363 1.796 2.201 2.718 3.106 4.437 12 1.356 1.782 2.179 2.681 3.055 4.318 13 1.350 1.771 2.160 2.650 3.012 4.221 14 1.345 1.761 2.145 2.624 2.977 4.140 15 1.341 1.753 2.131 2.602 2.947 4.073 16 1.337 1.746 2.120 2.583 2.921 4.015 17 1.333 1.740 2.110 2.567 2 898 3.965 18 1.330 1.734 2.101 2.552 2 878 3.922 19 1.328 1.729 2.093 2.539 2 861 3.883 20 1.325 1.725 2.086 2.528 2.845 3.850 21 1.323 1.721 2.080 2.518 2.831 3.819 22 1.321 1.717 2.074 2.508 2.819 3.792 23 1.319 1.714 2.069 2.500 2.607 3.768 24 1.318 1.711 2.064 2.492 2.797 3.745 25 1.316 1.705 2.060 2.485 2.787 3.725 26 1.315 1.706 2.056 2 479 2.779 3.707 27 1.314 1.703 2.052 2.473 2.771 3.690 28 1.313 1.701 2.048 2.467 2.763 3.674 29 1.311 1.699 2.045 2.462 2.756 3.659 30 1.310 1.697 2.042 2.457 2.750 3.646 40 1.303 1.684 2.021 2.423 2.704 3.551 60 1.296 1,671 2.000 2.390 2 660 3.460 120 1.289 1.658 1.980 2.358 2 617 3.373 1.282 1.645 1.960 2.326 2.576 3.291Key formulas Part = Base x Rate 1 = PRT M = P+1 Trade Discount Amount = List price x discount rate M = P (1 + RT) Net Cost = List price - trade discount amount B = MDT Proceeds = M - B Net Cost = List price x complement of trade discount Proceeds rate 1-DT Single discount equivalent = 1 - net cost equivalent R #= AT . where M = P (1+ /)" Cash discount = cash discount rate x invoice amount Compound interest = M - P Remittance = Invoice - Cash Discount Amount of annuity = PMT x [(1+7)-1] Invoice payment = Net cost x complement of cash discount Partial payment = credit amount x (1 - cash discount) Annuity due = Pmix i ( 1 + 1 )" -1 x (1 +1) Cost + Markup = Selling Price Selling price of perishable = PVA = Pmtx 1- (1+7)] Total sales / (number of units produced - spoilage) Markdown percent = Markdown amount Original price Sinking Fund ( Pmt ) = FV x ( 1+ /) -1 W/E = Cost + Operating Expenses Markdown = Original SP - Reduced SP Operating loss = B/E - Reduced SP Payment (amortization) = - Loan amount x f 1- (1+()- Absolute loss = Cost - Reduced SP Depreciation= Depreciable amt Net profit = Selling price - OE - Cost Years of life Book value=Cost - Accumulated depreciation Installment cost = Dwn pmt+(Pmt amt x No pmt) Depreciation=Double declining balance rate x declining Finance charge=[installment cost - Cash price Balance Amt financed=Cash price - Dwn pmt Sum-of-the-years'-digits depreciation fraction= 24 x Finance charge n (n + 1) APR =- Amt financed * (1+Total no of print) 2 Sum-of-the-years'-digits depreciation Installment ( pmt) = Loan Amt x method=Depreciation fraction x Depreciable art 1- ( 1 +7 )\fMean for population Mean for sample Mean for population Mean for sample Variance for Ex (Grouped data) (Grouped data) population E MF EMF N E(x - 1)2 X= 17 2 total f total f N Variance for sample Standard deviation for Standard deviation for Variance for Variance for sample population sample population (Grouped (Grouped data) E(x - p)2 data) $2 E(x - #) E(x - D) S = E(M - 4]'S E(M - 2)/ n - N total f total f - 1 Standard deviation for Standard deviation for Special rule of addition Rule of addition Special rule of population (Grouped sample (Grouped multiplication data} data) P(A or B) = P(A) + P(A or B) = P(A) + PIB) - PIA and B) PiA and B)= P(A) x E(M - 2)-F E(M - 1)25 P(B) total f total f - 1 Rule of multiplication Standard normal value Testing a mean and o Testing a mean and o Test of hypothesis, known unknown one proportion P(BIA)= P(A and 8) X - H P(A) p (1 -P) Pooled Variance Two-sample test of Two-sample test of Two-sample test of Paired t test means, unknown but means, unknown but means, known $1of + (n - 1)s equal o unequal a d $1 - 12 df=my + ni - 2 Test for comparing two Sum of squares. total Sum of squares, error Sum of squares, Coefficient of variances treatments correlation SS total=) (X - fo]] SSE = E (X - X)) SST = SS total - SSE (n-1)(5x) (5y) Test for significant lear regre Slope for regression Intercept of regression Confidence interval correlation equation line line known c (1 -7) Y = a + bX b = RX a = Y- bx x 1 2 - Vn - 5x Confidence interval, unknown g S Vn5. The researcher would like to test the hypothesis that the average monthly wage for recent college graduates is less than $2000. A random sample of 17 recent college graduates averaged $2100 per month with a standard deviation of $350.50 per month. Test the researcher's claim using a = 0.05 thatthe average monthly wage of college graduates is more than $2000. Answer the following questions. a. Identify the claim and state the Ho and H1. (1 Mark) in. Find the critical value. (1 Mark) c. Calculate the test statistic. ('1 Mark} G. Make a decision to reject or fail to reject the Ho. (1 Mark) e. Interpret the decision in the context of the original claim. (1 Mark)