Question
THE ANSWER SHOULD BE GIVEN IN AN EXCEL SHEET WITH ALL THE FORMULAS 10. Janagraha Small Savings Bank helps low-income households develop a savings habit.
THE ANSWER SHOULD BE GIVEN IN AN EXCEL SHEET WITH ALL THE FORMULAS
10. Janagraha Small Savings Bank helps low-income households develop a savings habit. Janagraha estimates that its customers are currently averaging INR1200 or less per month in savings. A sample of 40 customers will be used to test Janagraha's hypothesis about the current level of savings activity among the population of its customers. Assume the customer's savings amounts have a standard deviation of INR800 and that a .05 level of significance will be used in the hypothesis test.
a. What is the Type II error in this situation? b. What is the probability of the Type II error if the actual mean employee monthly investment is INR1400? c. What is the probability of the Type II error if the actual mean employee monthly investment is INR1600? d. Assume a sample size of 80 employees is used and repeatparts (b)and(c).
| THE ANSWER SHOULD BE GIVEN IN AN EXCEL SHEET WITH ALL THE FORMULAS 10. Janagraha Small Savings Bank helps low-income households develop a savings habit. Janagraha estimates that its customers are currently averaging INR1200 or less per month in savings. A sample of 40 customers will be used to test Janagraha's hypothesis about the current level of savings activity among the population of its customers. Assume the customer's savings amounts have a standard deviation of INR800 and that a .05 level of significance will be used in the hypothesis test. | |||||||||||
| a. What is the Type II error in this situation? | |||||||||||
| b. What is the probability of the Type II error if the actual mean employee monthly investment is INR1400? | |||||||||||
| c. What is the probability of the Type II error if the actual mean employee monthly investment is INR1600? | |||||||||||
| d. Assume a sample size of 80 employees is used and repeatparts (b)and(c). |
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Contemporary Mathematics
Authors: OpenStax
1st Edition
1711470554, 978-1711470559
