USA Today reported that the state with the longest mean life span is Hawaii, where the population
Question:
i. Use a calculator with sample mean and sample standard deviation keys to verify that = 71.4 years and s 20.65 years.
ii. Assuming that life span in Honolulu is approximately normally distributed, does this information indicate that the population mean life span for Honolulu residents is less than 77 years? Use a 5% level of significance.
Please provide the following information:
(a) What is the level of significance? State the null and alternate hypotheses.
(b) What sampling distribution will you use? Explain the rationale for your choice of sampling distribution. Compute the value of the sample test statistic.
(c) Find (or estimate) the P-value. Sketch the sampling distribution and show the area corresponding to the P-value.
(d) Based on your answers in parts (a)(c), will you reject or fail to reject the null hypothesis? Are the data statistically significant at level α?
(e) Interpret your conclusion in the context of the application.
For degrees of freedom d.f. not given in the Students t table, use the closest d.f. that is smaller. In some situations, this choice of d.f. may increase the P-value by a small amount and therefore produce a slightly more conservative answer.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Step by Step Answer:
Understanding Basic Statistics
ISBN: 9781111827021
6th Edition
Authors: Charles Henry Brase, Corrinne Pellillo Brase