The mean income per person in the United States is $60,000, and the distribution of incomes follows
Question:
The mean income per person in the United States is $60,000, and the distribution of incomes follows a normal distribution. A random sample of 10 residents of Wilmington, Delaware, had a mean of $70,000 with a standard deviation of $10,000. At the .05 level of significance, is that enough evidence to conclude that residents of Wilmington, Delaware, have more income than the national average?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Reject H o and conclude that ...View the full answer
Answered By
Vaibhav Rao Jadhav
Hiii ! I am Vaibhav Rao Jadhav. I am from Dhamtari, Chhattisgarh. I have passed my high school exam with 91.5% in 2013 and higher school exam with 87.4% in science stream with mathematics , physics and chemistry subjects in 2015 . Then I completed my graduation in Bachelor of Science in Mathematics with 70.67%. And currently I am studying Masters of science in physics. My post graduation would be completed till now but due to COVID-19 pandemic my final semester exams are postponed. Since my college days i am teaching at a private institute. I have been teaching for past threes years in those three years, first year I taught school level mathematics and physics and from last two years i am teaching college level mathematics and physics. So I have work experience of three years.
0.00
0 Reviews
10+ Question Solved
Related Book For
Statistical Techniques In Business And Economics
ISBN: 9781260239478
18th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen
Question Posted:
Students also viewed these Mathematics questions
-
The mean income per person in the United States is $40,000, and the distribution of in-comes follows a normal distribution. A random sample of 10 residents of Wilmington, Delaware, had a mean of...
-
The mean income per person in the United States is $50,000, and the distribution of incomes follows a normal distribution. A random sample of 10 residents of Wilmington, Delaware, had a mean of...
-
The coffee consumption per capita in the United States is approximately 1.9 cups per day for men and 1.4 cups for women. The number of cups consumed per day, x, by women coffee drinkers is expressed...
-
Draw a standard normal probability function and show the area under the curve for (a) Plus or minus one standard deviation from the mean (b) Plus or minus two standard deviations from the mean (c)...
-
List the principal professional activities of macro-economists. What role does macroeconomic research play in each of these activities?
-
In1999,followingacampaignbyastudentgroupknownasStudentsOrganizingforLaborandEconomicEquality(SOLE),theUniversityofMichiganinstitutedaVendorCodeofConductthatspecifiedkeyperformancecriteriafromalluniver...
-
DE 19-13 Jell's manufactures women's plastic sandals. Suppose the company's March records C include the following items. What is Jell's total manufacturing overhead cost in March? Ink for printing...
-
An investor buys a stock for $35 and sells it for $56.38 after five years. a) What is the holding period return? b) What is the true annual rate of return?
-
Vignana Corporation manufactures and sells hand painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year $66,000 $94,000 37 Cost of clay...
-
How would you define and measure customer value to Henkel? Should it define value on the individual level or on the segment level? What is the look and feel of strategic CRM in the FMCG environment?...
-
The management of GoGo Carts is considering a new method of assembling its golf cart. The present method requires a mean time of 42.3 minutes to assemble a cart. The mean assembly time for a random...
-
Given the following hypotheses: H 0 : 20 H 1 : > 20 A random sample of five resulted in the following values: 18, 15, 12, 19, and 21. Assume a normal population. Using the .01 significance level,...
-
Sodium oxide, Na 2 O, is a white-gray powder that sublimes (goes directly from solid to gas) at 1275 C. Is sodium oxide a molecular or nonmolecular solid?
-
Which alternative strategy do each of the following fall under? 1. Nike could set more aggressive sustainability targets and timelines for each product category, allocating additional resources to...
-
Find the critical value Za/2 that corresponds to the given confidence level. 88%
-
A study was conducted to determine the proportion of people who dream in black and white instead of color. Among 296 people over the age of 55, 73 dream in black and white, and among 294 people under...
-
The other strategy could be to develop a completely distinct product line. This would allow Nike to develop sustainable products without affecting their main products. It could target specific green...
-
A drug is used to help prevent blood clots in certain patients. In clinical trials, among 4705 patients treated with the drug, 170 developed the adverse reaction of nausea. Construct a 95% confidence...
-
Windsor Corporation issues $500,000 of 9%, 5-year bonds on January 1, 2017, at 104. If Windsor uses the effective-interest method in amortizing the premium, will the annual interest expense increase...
-
1-Stern observed all of the following results EXCEPT _______ in his experiment. A-one of the recombinant phenotypes was associated with an X chromosome of normal length B-the number of car, B+ male...
-
Shaver Manufacturing Inc. offers dental insurance to its employees. A recent study by the human resource director shows the annual cost per employee per year followed the normal probability...
-
A sample of 36 observations is selected from a normal population. The sample mean is 49, and the population standard deviation is 5. Conduct the following test of hypothesis using the .05...
-
A sample of 36 observations is selected from a normal population. The sample mean is 12, and the population standard deviation is 3. Conduct the following test of hypothesis using the .01...
-
What is the yield to maturity on a 10-year, 9% annual coupon, $1,000 par value bond that sells for $967.00? That sells for $1,206.10?
-
1)Prepare the journal entry to record Tamas Companys issuance of 6,500 shares of $100 par value, 9% cumulative preferred stock for $105 cash per share. 2. Assuming the facts in part 1, if Tamas...
-
On consolidated financial statements, where does the parents equity in the net income of the subsidiary account appear? A. On the consolidated income statement, as a revenue B. On the consolidated...
Study smarter with the SolutionInn App