Math 533 Part B - 1210 Words

PROJECT PART B: Hypothesis Testing and Confidence Intervals Math-533 Applied Managerial Statistics Prof. Jeffrey Frakes December 8, 2014 Jared D Stock A.) The average (mean) annual income was greater than $45,000 Null Hypothesis: The average (mean) annual income is greater than or equal to $45,000. Ho: u $45,000 Alternative Hypothesis: The average (mean) annual income was less than $45,000 Ha: u $45,000 I will use a = .05 as the significance level, and observing the sample size of n 30 which tells me I need to use a Z-Test to find the mean of this test and the hypothesis. As the alternative hypothesis is Ha: u $45,000, the given test is a one-tailed Z-Test. The critical value for the†¦show more content†¦Ho: u 8 Alternate Hypothesis: The average (mean) number of years lived in the current home is greater than 8 years. Ha: u 8 I will utilize, ÃŽ ±=0.05. Because the sample size is less than 30, a Z-Test will be utilized to find the mean of the hypothesis. As the alternative hypothesis is Ha: u 8, the given test is a one-tailed Z-Test. The critical value for significance level, ÃŽ ±=0.05 for a lower-tailed z-test is given as 1.645. Decision Rule: Reject null hypothesis z 1.645 Test Statistic from Minitab: One-Sample Z: Years Test of mu = 8, 8 The proposed standard deviation = 4.4855 95% Upper Variable N Mean StDev SE Mean Bound Z P Years 50 12.380 4.4855 0.722 8.557 2.52 0.006 Summary Since the value of the test statistic is in the critical region, I am rejecting the null hypothesis. Therefore, I can conclude the data gives enough evidence to show the null hypothesis is false. I can say with 95% confidence or 5% significance the claim, the average (mean) number of years lived in the current home is greater than 8 years, is true. So the p-value for this test is 0.006. Which is smaller than the significance level 0.05, as a result I am rejecting the null hypothesis based on the p-value approach as well. The 95% Lower Confidence Bound in this case is 8.557;Show MoreRelatedKeller Math 533 Project Part B1734 Words   |  7 PagesMath 533 Project Part B In regards to the dataset from AJ Department store, your manager has speculated the following: the average (mean) annual income is less than $50,000, the true population proportion of customers who live in an urban area exceeds 40%, the average (mean) number of years lived in the current home is less than 13 years, the average (mean) credit balance for suburban customers is more than $4300. Part 1. Using the sample data, performRead MoreMath 533 Course Project Part B Essay1482 Words   |  6 PagesAJ DAVIS AJ DAVIS MATH 533 Project Consumer Tel – 123-456-7891 July 21st 2013 MATH 533 Project Consumer Tel – 123-456-7891 July 21st 2013 Lakshan Nanayakkara AJ DAVIS is a department store chain, which has many credit customers. A sample of 50 credit customers is selected with data collected on location, income, credit balance, number of people and years lived in the house Lakshan Nanayakkara AJ DAVIS is a department store chain, which has many credit customers. A sample of 50 creditRead MorePart B Course Project Math 533 Essay1868 Words   |  8 PagesCourse Project Part B a. the average (mean) annual income was less than $50,000 Null and Alternative Hypothesis H0: mu= 50 (in thousands) Ha: mult;50 (in thousands) Level of Significance Level of Significance = .05 Test Statistic, Critical Value, and Decision Rule Since alpha = .05, zlt;-1.645, which is lower tailed Rejection region is, zlt;-1.645 Calculate test statistic, x-bar=43.74 and s=14.64 Z=(43.74-50)/2.070=-3.024 2.070 is calculated by: s/sq-root ofRead MoreEssay on Math 533 Final Exm1741 Words   |  7 PagesMATH 533 Final Exm Click Link Below To Buy: http://hwcampus.com/shop/math-533-final-exm/ Or Visit www.hwcampus.com 1. (TCO A)Consider the following sample data on the age of the 30 employees that were laid off recently from DVC Inc. 21 38 20 26 37 52 37 24 45 20 50 49 44 30 29 42 56 46 60 30 32 25 47 55 38 Read MoreThe Goals of Junior Reserve Officers Training Corps1483 Words   |  6 Pageslives of its students, it is first necessary to elucidate the history of this program, which was implemented on a nationwide level in 1916 yet had individual components as far back as the latter portion of the 19the century (Pema and Mehay, 2009, p. 533). 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Degree in Automotive Engineering requires a total of 30 credits—27 of which must be letter (A-E) graded. A minimum grade point average of 5.0/9.0 (â€Å"B† average) is required for graduation. Of the 30 credit hours, 24 must be 500 level or above. At most, 6 credit hours can be at the 400-level. SYSTEMS ENGINEERING CORE (9 credits) Courses must be taken in each area. 1. Powertrain AUTO 563 DynamicsRead MoreEssay about Equal Gender Representation in The Gaming Franchise2431 Words   |  10 Pagesbeloved by their followers that the annual Entertainment Software Association reports the gaming industry at an estimated $17 billion dollars franchise; globally that number increases to $67 billion of which 48% is female and 52% male. Females are also part of the gaming population, representing 47% while the males represent 53% (E.S.A., 2012). 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