The data accompanying this exercise show miles per gallon (mpg) for 25 cars. a. State the null
Question:
a. State the null and the alternative hypotheses in order to test whether the variance differs from 62 mpg2.
b. Assuming that mpg are normally distributed, calculate the value of the test statistic.
c. Use Excel's function (CHISQ.DIST.RT or CHISQ.DIST) to calculate the p-value.
d. Make a conclusion at α = 0.01.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
a H 0 2 62mpg 2 H A 2 62mpg 2 b Using Excel we find s 2 11443 Given df n 1 25 1 24 the ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Business Statistics Communicating With Numbers
ISBN: 9780078020551
2nd Edition
Authors: Sanjiv Jaggia, Alison Kelly
Question Posted:
Students also viewed these Statistics questions
-
The data accompanying this exercise show the weekly stock price for Home Depot. Assume that stock prices are normally distributed with a population standard deviation of $3. a. State the null and the...
-
The data accompanying this exercise include monthly rents for a two-bedroom apartment in two campus towns: Ann Arbor, Michigan, and Davis, California. Davis, California is known to have higher rents...
-
The data that accompanies this exercise show miles per gallon (MPG) for a sample of 25 cars. a. Using the Jarque-Bera test, state the competing hypotheses in order to determine whether or not MPG...
-
Delmott sells a snowboard, Xpert that is popular with snowboard enthusiasts. Below is information relating to Delmotts purchases of Xpert snowboards during September. During the same month, 102 Xpert...
-
James contracts to make repairs to Bettys building in return for Bettys promise to pay $12,000 upon completion of the repairs. After partially completing the repairs, James is unable to continue....
-
What are the three major issues related to the translation of foreign currency financial statements?
-
In February 2007, The Elliot Group, Inc., an Illinois real estate developer, made a deal with the Village of Arlington Heights to develop property in that village. Arlington Market, LLC, was...
-
(Entries for Zero-Interest-Bearing Notes) On January 1, 2011, McLean Company makes the two following acquisitions. 1. Purchases land having a fair market value of $300,000 by issuing a 5-year,...
-
Ann wants to start a business that processes blueberries so that they are easier for people to store for the winter. How would transportation costs between Bethel and outside of Alaska help or hurt...
-
Assume that MPL = 5 and MPK = 10. Assume also that PL = $2 and PK = $5. This implies that the firm should substitute labor for capital. Explain why.
-
A realtor in Mission Viejo, California, believes that the standard deviation of house prices is more than 100 units, where each unit equals $1,000. Assume house prices are normally distributed. a....
-
Real estate investment in college towns continues to promise good returns (The Wall Street Journal, September 24, 2010). With rents holding up, this is good news for investors but the same cannot be...
-
A PERT procedure can obtain only a rough approximation of a certain key quantity, so computer simulation is used to obtain a much closer estimate of the quantity. What is this quantity
-
What assumption is being made about the length of time a bond is held when computing the yield to maturity?
-
How are the yield to maturity and the current yield different?
-
What is the beta of a portfolio if funds are allocated equally between two securities listed in London Stock Exchange (LSE) and Shanghai Stock Exchange (SSE)?
-
What are mutually exclusive projects and what kind of difficulties may be associated with their ranking?
-
Provide an intuitive definition of an internal rate of return for a project.
-
Calcium ion was titrated with EDTA at pH 11, using Calmagite as indicator (Table 11-3). Which is the principal species of Calmagite at pH 11? What color was observed before the equivalence point?...
-
Define relevant costs and discuss: (1) whether all future costs are relevant for decision making and (2) whether variable costs are always relevant and fixed costs are always irrelevant
-
The following table lists the market share of the four firms in a particular industry in 2010 and total sales for each firm in 2011. a. Specify the competing hypotheses to test whether the market...
-
A study suggests that airlines have increased restrictions on cheap fares by raising overnight requirements (The Wall Street Journal, August 19, 2008). This would force business travelers to pay more...
-
A local TV station claims that 60% of people support Candidate A, 30% support Candidate B, and 10% support Candidate C. A survey of 500 registered voters is taken. The accompanying table indicates...
-
Randy Sneaker Company is a maker of mid-priced sneakers. They have recently made a new running sneaker but it has not met its sales expectations. As a result, the company president has asked you to...
-
a. Factorize the following expression 6x+13x-5 b. Express 20% as a decimal number c. Simplify (3y+5) (2y-3) - (y+7)(5y - 1). d. Simplify 7x+x-x-5x-3x-6x4 e. Solve -3x+4 <11 hence represent it...
-
Q4(a) Personal protective equipment (PPE) refers to the equipment worn to minimize the worker's exposure to the hazards which causes occupational injuries and illness. Explain three (3) factors which...
Study smarter with the SolutionInn App