Weatherwise is a magazine published by the American Meteorological Society. One issue gives a rating system used
Question:
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 Student’s 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.
Distribution
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...
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Related Book For
Understanding Basic Statistics
ISBN: 9781111827021
6th Edition
Authors: Charles Henry Brase, Corrinne Pellillo Brase
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