Hypothesis testing of federal funding program

Assignment Help Basic Statistics
Reference no: EM13113788

A Federal funding program is available to low income neighborhoods. To qualify for the funding a neighborhood must have a mean household income of less then $15,000 per year. Neighborhoods with mean household income of $15,000 or more do not qualify. Funding decisions are based on a sample of residents in the neighborhood. A hypothesis test with a .02 level of significance is conducted. If the funding guidelines call for a maximum probability of .05 of not funding neighborhood with a mean annual household income of $14,000, what sample size should be used in the funding decision study? Use sigma = $4000 as a planning value.

Reference no: EM13113788

Questions Cloud

What would elucidate this divergence in margins : National cereal manufacturers receive high margins for many of their cereals, often ranging from 60-75 percent. By contrast, the large retail grocery chains (Kroger, Safeway, etc.) that sell cereal make much smaller margins. What would elucidate ..
How do you suspect such modifications : Although several different mammalian species have been cloned, the efficiency of this process is extremely low. Often tens or even hundreds of oocytes must be implanted with donor nuclei to obtain one healthy live birth.
Perform a one-tailed hypothesis test : Conduct a one-tailed hypothesis test given the information below. A certain brand of fluorescent light tube was advertised as having an effective life span before burning out of 4000 hours.
Expalin how does a binding arbitration work : Expalin how does a binding arbitration work? Should companies be allowed to adopt a binding arbitration requirement for their current employees in which employees surrender their rights to litigate empoyment disputes through the court system?
Hypothesis testing of federal funding program : A Federal funding program is available to low income neighborhoods. To qualify for the funding a neighborhood must have a mean household income of less then $15,000 per year.
Explain and develop a strategy for meeting financing needs : Explain and Develop a strategy for meeting your short-term financing needs to acquire needed property and equipment.
Discuss the various characteristics that encompass diversity : Discuss the various characteristics that encompass components of diversity, not just race or gender
How much hydrogen is required : If the reaction N2(g) + 3H2(g) ! 2NH3(g) is carried out at constant temperature and pressure, how much H2 is required to react with 6.4 L liters of N2.
Perform a two-tailed hypothesis test : Conduct a two-tailed hypothesis test given the information below. Assuming that the population variances are equal for male and female Grade Point Averages (GPAs), use the following sample data to test.

Reviews

Write a Review

 

Basic Statistics Questions & Answers

  Interpretation for the margin of error

Can we conclude from this that most workers there earn between $25 and $35 per hour? Is this the right interpretation for the margin of error?

  What is the confidence interval for the population mean

A random sample of 15 college graduates revealed that they worked an average of 5.3 years on the job before being promoted. The sample standard deviation was 1.2 years. Using the 0.95 degree of confidence, what is the confidence interval for the p..

  Description of relative frequency

A random sample of 346 individuals is selected, and the individuals are classified according to their smoking habits and the smoking habits of their parents. The results are given in the contingency table below.

  Comparing outcomes of two datasets

You obtain the data shown below for 30 girls with anorexia who were treated with psychodynamic therapy. Using the data below and the data above compare the outcomes for CBT and psychodynamic therapy.

  Anova summary table-upper-tail critical value

Management at the Kansas City Corporate office for tax prepration wants to accomplish a business objective by conduting a study of the waiting time in its tax offices in different states.

  Normal distribution is an adequate model

The bank wishes to inform prospective customers that '99 times out 100 we can process your application in q working days'. Assuming that the normal distribution is still an adequate model, calculate q.

  Confidence interval for population standard deviation sigma

Suppose that population has normal distribution. Determine a 95 percent confidence interval for population standard deviation sigma.

  Random variable having a lognormal distribution

The length of time for one individual to be served at a cafeteria is a random variable having a lognormal distribution with a mean of 10 minutes and standard deviation of 2 minutes.

  Crucial step is offering participants

A researcher plans a study in which a crucial step is offering participants a food reward. It is important that the three food rewards be equal in appeal.

  Statistical significance and practical significance

What is the difference between statistical significance and practical significance? Why is statistical significance not necessarily of practical important difference to a business decision?

  Probability of accepting the null hypothesis

If the true mean for Saturday sales is now $4500, what is the probability of accepting the (false) null hypothesis in (a) above (the probability of not sharing the manager's concern because of lack of evidence)?

  What is the likely number of withdrawals

A university found that 20 percent of its students withdraw without completing the introductory statistics course. 20 students registered for a section of the course this term.

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