Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The mean age of a sample of20 people who were playing the slot machines is51.7years, and the standard deviation is6.8 years. The mean age of

The mean age of a sample of20 people who were playing the slot machines is51.7years, and the standard deviation is6.8 years. The mean age of a sample of32 people who were playing roulette is54.3 with a standard deviation of3.2years. Can it be concluded at =0.05 that the mean age of those playing the slot machines is less than those playing roulette? Use1 for the mean age of those playing slot machines. Assume the variables are normally distributed and the variances are unequal.

(a)State the hypotheses and identify the claim with the correct hypothesis.

(b)Find the critical value(s).

(c)Compute the test value.

(d)Make the decision.

(e)Summarize the results.

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

An Introduction to the Mathematics of financial Derivatives

Authors: Salih N. Neftci

2nd Edition

978-0125153928, 9780080478647, 125153929, 978-0123846822

More Books

Students also viewed these Mathematics questions