User Account

All Pages

Statistical inference for the questions

Assignment Help Basic Statistics
Reference no: EM132188208

The R & M department store as two charge plans available for its credit-account customers. The management of the store wants to collect information about each plan and to study the differences between the two plans. Of particular interest is the monthly balance carried by the customers. Random samples of 25 accounts in Plan A and 50 accounts in Plan B are selected, with the following results. 

Use a level of significance of 0.01 and use statistical inference for the following questions. 

a. Is there evidence of a difference between the average balances of Plan A and Plan B? You must demonstrate all students to receive full credit.  

b. Determine the confidence interval for the difference between the average balances of Plan A and Plan B.  

Plan A Plan B

nA = 25 nB = 50

xA(bar) = $75   xB(bar) = $110

sA = $15 sB = $14.14

Reference no: EM132188208

Questions Cloud

Sample is the number of defective computer : An example of a paired sample is the number of defective computer chips of a particular type from two different manufacturers. True or False?
Examine an adverse selection problem your company is facing : Examine an adverse selection problem your company is facing and recommend how it should minimize its negative impact on transactions.
How many 3-digit numbers : How many 3-digit numbers (from 100 to 999) do not contain even digits? (0 is considered an even digit).
Discuss the brukman workers and recovered factories movement : Discuss the Brukman workers and the recovered factories movement. Who and what are they and why are they significant
Statistical inference for the questions : Use a level of significance of 0.01 and use statistical inference for the following questions.
Determining the regression coefficients : At the 0.05 significance level, can we conclude that any of the regression coefficients are not equal to 0?
What do you see as most difficult part of being a manager : Which of these would be most difficult for you as a manager? What do you see as the most difficult part of being a manager? If you have management experience.
How does managed care impact hospital net revenues : Describe the key issues associated with managed care and its reimbursement methods. How does managed care impact hospital net revenues?
Formulate the null and the alternative hypotheses : (a) Formulate the null and the alternative hypotheses in terms of the population mean. (b) State the test statistic.

Reviews

Write a Review

Basic Statistics Questions & Answers

  The data are presented below is there evidence of a change

fine motor skills were measured in a sample of kindergarteners before and after 6 months of occupational therapy.

  Margin of error account for the fact

What is the smallest number of consumers that Timex can survey to guarantee a margin of error of .05 or less at a 99% confidence level and calculate the intervals correctly

  Students are out-of-state residents

In order to test this hypothesis we randomly interview 100 Tulane students. We find that 70 of the student have an out of state residency.

  Find critical path by computing et-lt-ts and fs values

A local computer sales office sent the following information about the computer system installation. Identify the critical path by computing the ET, LT, TS and FS values.

  Controlling for income inequality

Across the nine cities, in multilevel, multivariate analysis, controlling for income inequality (GINI coefficient), percent living in poverty and percent Non-Hi

  Is it reasonable to conclude that the mean weekly salary of

the milton area chamber of commerce wanted to know whether the mean weekly salary of nurses was larger than that of

  A what is the name of the counting rule used to find all

question an electronics company is about to launch a new product. if the serial number for each piece produced has

  Find the probability that both are republicans

"Two US governors are selected at random without replacement. Find the probability that the first is a Republican and the second is a Democrat."

  Enough memory to open the data set

The data is posted on Blackboard. Download the data lfs4.dta on your personal computer. This data is from the Labour Force Survey 2003. In STATA, add enough memory to open the data set (Set memory 300) and open the data file. Refer to the Record L..

  Moving average-mean square error

As long as there is either an upward or downward trend in the data, will a k-period moving average have a smaller mean square error than a moving average obtained with k+1 periods? Why or why not?

  Suppose that the probabilities of a customer purchasing 0 1

suppose that the probabilities of a customer purchasing 0 1 or 2 books at a book store are 0.2 0.3 and 0.5

  What is the purpose of measuring correlation

What are the input and the output of linear regression, and what does the coefficient of determination measure and what is the purpose of measuring correlation?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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