Carry out the test and state the conclusion

Assignment Help Basic Statistics
Reference no: EM131372666

According to the mortgage banking firm Lomas & Nettleton, 95% of all households in the second half of last year lived in rental accommodations.

The company believes that lower interest rates for mortgages during the following period reduced the percentage of households living in rental units.

The company therefore wants to test H0: p ≥ 0.95 versus the alternative H1: p< 0.95 for the proportion during the new period. A random sample of 1,500 households shows that 1,380 are rental units. Carry out the test, and state your conclusion. Use an αof your choice.

Reference no: EM131372666

Questions Cloud

Calculate the conditional profit in relation to various : A company needs to increase its production beyond its existing capacity. It has narrowed the alternatives to two approaches to increase the production capacity: (a) expansion, at a cost of $ 8 million, or (b) modernization at a cost of $ 5 million. B..
Few suppliers strategy is the high cost of changing partners : The usual purpose of an R-chart is to signal whether there has been a change in the number of defective items in a sample. Continuous Improvement or Kaizen is based on the philosophy that any operation or process can be improved or made better. ISO 9..
Should corrective action be taken : A test is carried out to determine whether the variance is above the required level, with the intention to take corrective action if it is concluded that the variance is greater than 156. A random sample of 25 slabs gives a sample variance of 175...
What actions you take to provide sustainable supply of water : What role does population growth play in water supply problems? What three actions would you take to provide sustainable supplies of water for the world's people? (100 words)
Carry out the test and state the conclusion : A random sample of 1,500 households shows that 1,380 are rental units. Carry out the test, and state your conclusion. Use an αof your choice.
How do these new facts affect current stakeholders : Identify the various stakeholder groups of the Monsanto Company. Update any dated facts in this case with more current information. How do these new facts affect current stakeholders?
Work for company that manufactures bicycles : Suppose that you work for a company that manufactures bicycles. Although you make some of your own parts, you buy others. At a meeting you recently attended two managers were debating the virtues of having multiple suppliers for the brake assembly. O..
Where should the boundaries of ethical collection methods : What steps might be taken to better coordinate the roles of the various government agencies at both the state and federal levels? The MOST appropriate method for training senior management to handle critical decision making is. Discuss the role state..
Analyze health care organization challenges : Describe the two contemporary theories of leadership you selected. Analyze health care organization challenges where these theories can be applied. Recommend strategies to overcome these challenges.

Reviews

Write a Review

 

Basic Statistics Questions & Answers

  Probability that number of students who want new books

What are the mean value and standard deviation of the number of students who want new books? What is the probability that the number of students who want new books is more than two standard deviations above the mean?

  A criminal psychologist wants to examine the level of narcis

3. (SPSS) A criminal psychologist wants to examine the level of narcissistic personality traits between those who are diagnosed with antisocial personality disorder (ASPD) and those who do not qualify for ASPD. She administers a measure of nar..

  Problem regarding the example of a closed

1. Show that in any finite dimensional Banach space (Rk with any norm), for any closed, convex set C and any point x not in C , there is at least one nearest point y in C ; in other words, ly - x l= infz∈C lz - x l.

  Poisson distribution with mean

Suppose that the number of babies born during an hour at a hospital's maternity wing follows a Poisson distribution with a mean of 4 per hour.

  Minimize total expected cost

Determine the test sequence that minimizes the total expected cost of testing an item. Prove that your proposed sequence is optimal in minimizing the total expected cost of testing an item.

  Define basic and applied your definitions should highlight

define basic and applied. your definitions should highlight the primary distinctions between the two types of research.

  Population sample data-binomial-normal distributions

Why do we want to assume that our sample data represent a population distribution? What are the differences between the binomial and normal distributions?

  Find the probability that among the ten patients

A doctor knows from experience that 20% of the patients to whom he gives a high blood pressure drug will have undesirable side effects. Assume the doctor gives that drug to ten of his patients

  A what is the estimated regression equation b determine if

a company has recorded data on the weekly sales for its product y the unit price of the competitors product x1 and

  Suppose you are planning a sample of employees to determine

Suppose you are planning a sample of employees to determine the monthly average # of vacation days. Standards set: Confidence level of 99% and an error of less than 5 units. Standard deviation be 6 units. What would be the required sample size?

  Values of the absolute and relative errors

The sticker on the car states that it gets 24 mpg on the highway, but measurements show that its highway mileage is actually 32 MPG. Find the values of the absolute and relative errors. Round to the nearest integer as needed

  Population standard deviation for life expectancy

Develop a point of the population standard deviation for life expectancy of VCRs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd