50000‚ the given test is a one-tailed z-test. Critical Value and Decision Rule: The critical value for significance level‚ α=0.05 for a lower-tailed z-test is given as-1.645. Decision Rule: Reject H₀‚ if z – statistic‚ -1.645 Test Statistic - minitab One-Sample Z: Income ($1000) Test of mu = 50 vs < 50 The assumed standard deviation = 14.55 95% Upper Variable N Mean StDev SE Mean Bound Z P Income ($1000) 50 43.48 14.55 2.06 46.86 -3.17 0.001 Interpretation of Results and Conclusion: Since
Premium Statistical hypothesis testing Statistics Statistical inference
Prentice-Hall‚ Inc. Chap 1-1 Learning Objectives In this chapter you learn: How Statistics is used in business The sources of data used in business The types of data used in business The basics of Microsoft Excel The basics of Minitab Basic Business Statistics‚ 11e © 2009 Prentice-Hall‚ Inc.. Chap 1-2 Why Learn Statistics? So you are able to make better sense of the ubiquitous use of numbers: Business memos Business research Technical reports Technical journals
Premium Level of measurement Statistics
will demonstrate how to use Minitab to conduct the test. Figure 6.5 in the text visually represents the structure of the test. Any Z value larger than 2.575 or smaller than –2.575 will result in the acceptance of the alternate hypothesis (i.e.‚ that the mean fill weight of the machine is not equal to 12. Example 6.5 Find the observed significance level for the test of the mean filling weights in Examples 6.3 and 6.4. This tutorial will demonstrate how to use Minitab to find the significance level
Premium Statistics Statistical hypothesis testing Statistical significance
Math 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‚ perform
Premium Statistical hypothesis testing Statistics Statistical inference
one-tailed (upper-tailed) z-test. Step3: Critical Value and Decision Rule: The critical value for significance level‚ α=0.05 for an upper-tailed z-test is given as 1.645. Decision Rule: Reject H_0‚if z-statistic>1.645 Step4: Test Statistic (MINITAB OUTPUT): Number of Events (Urban Customers) = 21 Number of Trials (Customers) = 50 Test and CI for One Proportion Test of p = 0.4 vs p > 0.4 95% Lower Sample
Premium Statistical hypothesis testing Statistics Statistical inference
Comparisons Involving Means Learning Objectives 1. Be able to develop interval estimates and conduct hypothesis tests about the difference between two population means when EMBED Equation.DSMT4 and EMBED Equation.DSMT4 are known. 2. Know the properties of the sampling distribution of EMBED Equation . 3. Be able to use the t distribution to conduct statistical inferences about the difference between two population means when EMBED Equation.DSMT4 and EMBED Equation.DSMT4 are unknown. 4. Learn
Premium Arithmetic mean
Chapter 12 Simple Linear Regression Case Problem 1: Measuring Stock Market Risk a. Selected descriptive statistics follow: Variable N Mean StDev Minimum Median Maximum Microsoft 36 0.00503 0.04537 -0.08201 0.00400 0.08883 Exxon Mobil 36 0.01664 0.05534 -0.11646 0.01279 0.23217 Caterpillar 36 0.03010 0.06860 -0.10060 0.04080 0.21850 Johnson & Johnson 36 0.00530 0.03487 -0.05917 -0.00148 0.10334
Premium Regression analysis Errors and residuals in statistics Linear regression
Course Home - Course Project | | Print This Page | Course Project: AJ DAVIS DEPARTMENT STORES Introduction | Project Part A: Exploratory Data Analysis | Project Part A: Grading Rubric | Project Part B: Hypothesis Testing and Confidence Intervals | Project Part B: Grading Rubric | Project Part C: Regression and Correlation Analysis | Project Part C: Grading Rubric | | Introduction | | AJ DAVIS is a department store chain‚ which has many credit customers and wants to find out more information
Premium Regression analysis Statistical hypothesis testing Statistics
level of 0.05. Therefore‚ we will not reject the null hypothesis. There is no sufficient evidence to support the claim that the true population proportion of customers who live in an urban area is greater than 40%. Based on the results provided by MINITAB below‚ the lower 95% confidence limit is 0.28. Since 0.42 is greater than the 95% lower confidence limit‚ hence‚ we cannot support the claim that the true population proportion of customers who live in an urban area is greater than 45%. Confidence
Premium Statistical hypothesis testing Statistics Statistical inference
= 18.2 mpg b. Average mpg for highway driving = 261/10 = 26.1 mpg On average‚ the miles per gallon for highway driving is 26.1 – 18.2 = 7.9 mpg greater compared to city driving. 2.47. a. (Other possible stem-and-leafs are possible. In fact‚ Minitab generates one that is slightly different.) b. The majority of the start-up companies in this set have less than $90 million in venture capital. Only 6 of the 50 (12%) have more than $150 million. 2.49. a. Stem and leaf diagram here. b. 12 Frequency
Premium Poverty in the United States Poverty Poverty threshold