A sample of 100 donors to a charity has a mean donation amount of $55 with a

Question:

A sample of 100 donors to a charity has a mean donation amount of $55 with a sample standard deviation of $25. Test using α = 0.05 whether the population mean donation amount exceeds $50.

a. Provide the hypotheses. State the meaning of μ.

b. What is the rejection rule?

c. What is the meaning of the test statistic t_data?

d. Is the value of the test statistic t_data extreme? How can we tell? What is the meaning of the p-value in this example?

e. What is our conclusion?

f. Interpret our conclusion so that a nonspecialist could understand it.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Discovering Knowledge In Data An Introduction To Data Mining

ISBN: 9780470908747

2nd Edition

Authors: Daniel T. Larose, Chantal D. Larose

See More Books

Question Posted: Nov 30, 2023 03:15 AM

See More Questions

A consumer electronics firm has developed a new type of remote control button that is designed to operate longer before becoming intermittent. A random sample of 35 of the new buttons is selected and...
A consumer electronics firm has developed a new type of remote control button that is designed to operate longer before becoming intermittent. A random sample of 35 of the new buttons is selected and...
Refer to the hypothesis test in the previous exercise. Suppose we now set = 0.01. a. What would our conclusion now be? Interpret this conclusion. b. Note that the conclusion has been reversed simply...
On July 31, 2023, Magnuss Muffins paid $18,000 for business insurance for the next year. Record the entries for the purchase of the insurance by recording it as an expense and then making a year-end...
Was Liberatore acting within the scope of his employment? Was the Church negligent in hiring and supervising him? Was the Church liable for his criminal acts?
An AM transmitter at 27 MHz develops 10 W of carrier power into a 50- load. It is modulated by a 2-kHz sine wave between 20 and 90 percent modulation. Determine: (a) Component frequencies in the AM...
The IRR of this investment is located at which point? a. A b. C c. D d. E
Petromax Enterprises uses a continuous review inventory control system for one of Its SKUs. The following information is available on the item. The firm operates 50 weeks in a year. Demand = 50.000...
Give an Example NoSQL and describes is history and evolution in relation to databases?
Refer to the first confidence interval you calculated for the population mean duration of customer service calls. Use this confidence interval to test whether this population mean differs from the...
Refer to the previous exercise. Describe the relationship between margin of error and confidence level. Data from previous Exercise For each of the confidence intervals in the previous exercise,...
Discuss the effects of charismatic leadership on followers.
What are the implications of social learning theory on the development of organizational culture and norms? Explain
A pipe discharges storm water into a creek. Water flows horizontally out of the pipe at 2.5 m/s, and the end of the pipe is 1.2 m above the creek. What is the speed of the water when it meets the...
Ia 5. Solve these two equations for a. mg sin 0-f=ma; f 2 r 6. Find in terms of from the given three equations. = fk-mg sin 0-0, N-mg cos 0=0, fk =N, Ans: k = tan 0 Ans: a = g sin 0 1+I/mr
7. What is the tangential velocity associated with the revolution of Jupiter around the Sun? (distance from Jupiter to the Sun is 1,250,000,000 miles). revolve around the Sun. Assume that it takes...
Briefly describe In what ways can the concept of social capital be leveraged to improve knowledge management practices within an organization?
You are the manager of a monopolistically competitive firm. The inverse demand for your product is given by P = 200 - 10Q and your marginal cost is MC = 5 + Q. A. What is the profit-maximizing level...
Multiple Choice Questions: 1. The largest component of aggregate demand is? a. Government purchases. b. Net exports. c. Consumption. d. Investment. 2. A reduction in personal income taxes, other...
How did data governance improve operations and management decision making?
What business benefits did the companies and services described in this case achieve by analyzing and using big data.
Identify two decisions at the organizations described in this case that were improved by using big data, and two decisions that were not improved by using big data.
Some would argue that there is a radical divergence between family systems therapies and the more traditional psychotherapeutic approaches. Others would challenge this view, arguing that there are...
What would be the purpose of a capital investment decision based on the details below: ABC Incorporated manufactures the best products in town. Because the business is thriving several departments...
The Esi family have lived on an area of land called "Vai" for five generations and believed that they were the customary owners of the land. Vai is located on the waterfront in Vila Village which is...

A sample of 100 donors to a charity has a mean donation amount of $55 with a

Question:

Step by Step Answer:

a The hypotheses are Null hypothesis H0 The population mean donation amount is not greater than 50 Alternative hypothesis H1 The population mean donat...View the full answer

Discovering Knowledge In Data An Introduction To Data Mining

Students also viewed these Business questions