BADB1014 Quantitative Methods

4. 5. According to a report, the average cost to rent a full-size car is $250 per day. Suppose that the distribution of this rental cost is normally distributed with a population standard deviation of $24.80. Answer the following questions. a. What is the probability that a randomly selected rental car costs more than $260 per day? (1 Mark) b. What is the probability that a randomly selected rental car costs between $2?0 and $285 per day? (2 Marks) c. What is the cut-off cost for the rental car If only 3% of middle-income Malaysian (M40) afford to pay? (2 Marks) ['l'otal: 5 Marks] The researcher would like to test the hypothesis that the average monthly wage for recent college graduates is less than $2000. A random sample of 17 recent college graduates averaged $2100 per month with a standard deviation of $350.50 per month. Test the researcher's claim using c = 0.05 that the average monthly wage of college graduates is more than $2000. Answer the following questions. a. Identify the claim and state the Ho and H1. (1 Mark) b. Find the critical value. (1 Mark) o. Calculate the test statistic. (1 Mark) d. Make a decision to reject or fall to reject the Ho. (1 Mark) e. interpret the decision in the context of the original claim. (1 Mark) Hotel: 5 Marks] Researchers suspect that 18% of all high school students smoke at least one pack of cigarettes a day. At Mat Kilau Highschccl. a randomly selected sample of 150 students found that 30 students smoked at least one pack of cigarettes a day. Use o=0.05 to determine that the proportion of high school students who smoke at [east one pack of cigarettes a day is more than 18%. Answer the following questions. a. Identify the claim and state the Ho and H1. (1 Mark) b. Find the critical value. (1 Mark) c. Calculate the test statistic. (1 Mark) d. Make a decision to reject or fail to reject the Ho. (1 Mark) e. Interpret the decision in the context of the original claim. (1 Mark) [Tots]: 5 Marks]