(The following problem has been taken from Encyclopedia Galactica) There was a lot commotion on planet BAJOUR. The Grand Sarak is coming to inspect whether the money given to planet BAJOUR has been profitably spent on the projects for which it was assigned to. (Use alpha value =0.01) Assume that the populations (recovery expenses of wastelands in Bajour and the entire federation of planets) are normally distributed and that the samples are independent. The population variances are not known. Answer the following a. Prior experience says that the mean recovery expense of wastelands like in Planet Bajour is 50.12. Based on this information, do you think that the current mean recovery expense of the wasteland in Planet Bajour is significantly more than prior expenses? b. Obtain a 95% confidence interval on the mean recovery expense of wasteland in Planet Bajour. c. Do you think that the mean recovery expense of the wasteland in Planet Bajour is same as the mean recovery expense of wastelands in the entire federation of planets? Use the proper statistical test to arrive at your conclusion. You must justify as to why did you use this test? (Exchange rate Earth 1= Latinum 1.2) ( Use alpha value =0.01 ) (The following problem has been taken from Encyclopedia Galactica) There was a lot commotion on planet BAJOUR. The Grand Sarak is coming to inspect whether the money given to planet BAJOUR has been profitably spent on the projects for which it was assigned to. (Use alpha value =0.01) Assume that the populations (recovery expenses of wastelands in Bajour and the entire federation of planets) are normally distributed and that the samples are independent. The population variances are not known. Answer the following a. Prior experience says that the mean recovery expense of wastelands like in Planet Bajour is 50.12. Based on this information, do you think that the current mean recovery expense of the wasteland in Planet Bajour is significantly more than prior expenses? b. Obtain a 95% confidence interval on the mean recovery expense of wasteland in Planet Bajour. c. Do you think that the mean recovery expense of the wasteland in Planet Bajour is same as the mean recovery expense of wastelands in the entire federation of planets? Use the proper statistical test to arrive at your conclusion. You must justify as to why did you use this test? (Exchange rate Earth 1= Latinum 1.2) ( Use alpha value =0.01 )
