1. Suppose we are interested in analyzing the average cost of an Airbnb in Hawaii. We...

 

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1. Suppose we are interested in analyzing the average cost of an Airbnb in Hawaii. We know that on average, per Hawaii travel information, an Airbnb costs $214 a night with a population standard deviation of $771. Suppose we take a sample of 100 Airbnbs and we find that the average cost of an Airbnb in our sample was $309. We are interested in seeing if the average cost of an Airbnb has been increasing. a. What is the standard error? b. What is the margin of error at 90% confidence? c. Using my sample of 100, what would be the 90% confidence interval for the population mean? d. If I wanted to control my margin of error and set it to 75 at 90% confidence, what sample size would I need to take instead of the 100? e. What are the null and alternative hypotheses? f. What is the critical value at 90% confidence? & Calculate the test statistic (using the sample of 100 and NOT the answer from part d). h. Find the p-value. 1. What conclusion would be made here at the 90% confidence level? 2. Based on past data, it is known that 29% of dogs purchased were purchased from pet stores or breeders. Suppose we take a sample of 100 dogs purchased during the pandemic and find that 36% were purchased from breeders. We want to see if there is evidence that the number of dogs being purchased from breeders Increased during the pandemic. a. If I wanted to control my margin of error and set it to 7% with 99% confidence, what sample size would I need to take instead of the 100? b. Using my original sample size of 100, what would be the 99% confidence interval for the population proportion? c. What are the null and alternative hypotheses? d. What is the critical value at 99% confidence? e. Calculate the test statistic (using the sample of 100). f. Find the p-value, & What conclusion would be made here at the 99% confidence level? 1. Suppose we are interested in analyzing the average cost of an Airbnb in Hawaii. We know that on average, per Hawaii travel information, an Airbnb costs $214 a night with a population standard deviation of $771. Suppose we take a sample of 100 Airbnbs and we find that the average cost of an Airbnb in our sample was $309. We are interested in seeing if the average cost of an Airbnb has been increasing. a. What is the standard error? b. What is the margin of error at 90% confidence? c. Using my sample of 100, what would be the 90% confidence interval for the population mean? d. If I wanted to control my margin of error and set it to 75 at 90% confidence, what sample size would I need to take instead of the 100? e. What are the null and alternative hypotheses? f. What is the critical value at 90% confidence? & Calculate the test statistic (using the sample of 100 and NOT the answer from part d). h. Find the p-value. 1. What conclusion would be made here at the 90% confidence level? 2. Based on past data, it is known that 29% of dogs purchased were purchased from pet stores or breeders. Suppose we take a sample of 100 dogs purchased during the pandemic and find that 36% were purchased from breeders. We want to see if there is evidence that the number of dogs being purchased from breeders Increased during the pandemic. a. If I wanted to control my margin of error and set it to 7% with 99% confidence, what sample size would I need to take instead of the 100? b. Using my original sample size of 100, what would be the 99% confidence interval for the population proportion? c. What are the null and alternative hypotheses? d. What is the critical value at 99% confidence? e. Calculate the test statistic (using the sample of 100). f. Find the p-value, & What conclusion would be made here at the 99% confidence level?

Answer rating: 100% (QA)

Answer 1 a The standard error is 771sqrt100 771 b The margin of error at 90 confidence is 771times1645 1273 c The 90 confidence interval for the population mean is 309pm1273 so the population mean is ... View the full answer