Observation from a normal population

Assignment Help Business Economics
Reference no: EM133083246

1. A researcher has taken a random sample of 8 observation from a normal population. Sample mean and standard deviations are 75 and 50 respectively. Using the 6 steps process of hypothesis testing.

-Can he infer at the 10% significance level that the population mean is less than 100?

-Can he infer at the 10% significance level that the population mean is less than 100 if population standard deviation is 50?

-Review the answers in (i) and (ii) and explain why the test statistics differed.

Reference no: EM133083246

Questions Cloud

Find perfect market or pure competition : Imagine yourself as a street food vendor, selling tacos topped with fried onions, ground meat, cheese, fresh tomatoes and dollops of guacamole and spicy sauce i
Compute for the price elasticity for price range : Solve for the following items. Write your answers on the back of this sheet.
Compute the risk free rate and the risk premium : Compute the risk free rate and the risk premium, based on CCAPM, for a risk neutral representative agent. For the same economy derive the stochastic Euler equat
Explain the four trends that provide evidence : a) Explain the four trends that provide evidence for the globalisation of market.
Observation from a normal population : 1. A researcher has taken a random sample of 8 observation from a normal population. Sample mean and standard deviations are 75 and 50 respectively. Using the 6
Define organisational performance : Define organisational performance, and discuss the criteria for classifying organisations as 'high performing' and 'low performing' organisations.
Characteristics of the culture of two organisations : Apply the knowledge that you have gained in (1) above to analyse the characteristics of the culture of the two organisations that you have selected.
Entrepreneurial function in manipulating : Using relevant concepts and theories from the course, analyse the evolution of the innovation from its pre-infancy to some well-argued likely next-decade state.
Create a proposed communication strategy outline : Create a proposed communication strategy outline for your boss - How would your needs or interests' impact or influence the organization's communications goal

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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