Determine the appropriate interval-hypotheses , Macroeconomics

1. Practice identification of proper analysis type (1-Sample Z, 1-Sample t, 2-Sample t, Paired t, etc).

2. Practice hypothesis testing.

3. Practice interpretation of statistical information.

Problem: The design of controls and instruments has a large effect on how easily people can use them. A student project investigated this effect by asking 25 right-handed students to turn a knob (with their right hands) that moved an indicator by screw action. There were two identical instruments, one with a right-hand thread (the knob turns clockwise) and the other with a left-hand thread (the knob turns counterclockwise). The times required (in seconds) were carefully recorded and are provided in the Excel file titled "Assignment #2 - Part III - Times."

Requirements: Again, use StatTools to generate as much of the statistical information needed as possible.

1. Each of the 25 students used both instruments. Discuss briefly how the experiment should be arranged and how randomization should be used.

2. The project hoped to show that right-handed people find right-hand threads easier to use. State the appropriate null and alternative hypotheses about the mean time required to complete the task.

3. Carry out a test of your hypotheses using a significance level of 0.05. Give the P-value and report your conclusion.

4. Determine the appropriate 95% confidence interval that could be used to test the hypotheses. Interpret the result.

Posted Date: 3/8/2013 6:04:58 AM | Location : United States







Related Discussions:- Determine the appropriate interval-hypotheses , Assignment Help, Ask Question on Determine the appropriate interval-hypotheses , Get Answer, Expert's Help, Determine the appropriate interval-hypotheses Discussions

Write discussion on Determine the appropriate interval-hypotheses
Your posts are moderated
Related Questions
A monopolist faces the following demand function for its product: Q = 45 - 5P The fixed costs of the monopolist are $12 and the variable costs are $5 per unit. a) What are the pro

The Russell 2000 is a market index for small cap stocks - What do these changes in P/E ratios over last year tell you about current valuation in small caps and the different market

Assume a 5 year equal payment amortization schedule with an annual interest rate of 12% and annual payments. If the beginning is 8,000 then the first interest payment will be how l

Aggregate demand and Say's Law  Y D = Y S in the classical model (Say's law) Aggregate demand Y D is defined as quantity of nationally produced

Suppose you have $10,000 and wish to purchase an annuity that pays you a fixed dollar amount every month. How much would you receive each month if the annuity rate is 1% and you in

Macroeconomics usually deals with the behaviour of aggregates of economic variables. An economic variable is a magnitude whose value may changes. Important variables in macroeconom

Given the following data for StewieLand, a closed economy in 2012… real gdp = $20,000 public savings = $1,000 consumption = $11,000 tax revenue collected = $4,000 Solve for

Listed here are several examples of bad, or at least questionable, decisions. Evaluate the decision maker's approach or logic. In which of the six decision steps might the decision

Derive the following equilibrium for the IS-LM model:

The managers of Firm A recommend that Firm A purchase Firm B because the purchase will diversify the business of Firm A. Diversification of risks is a desirable strategy for indivi