The mean annual income of certified welders

Assignment Help Applied Statistics
Reference no: EM13832880

The mean annual income of certified welders is normally distributed with a mean of $50,000 and a population standard deviation of $2,000. The ship building association wishes to find out whether their welders earn more or less than $50,000 annually. The alternate hypothesis is that the mean is not $50,000. If the level of significance is 0.10, what is the decision rule

 

 

Reference no: EM13832880

Questions Cloud

Conduct a three circles analysis : Imagine that you have been hired by Netflix to conduct a three circles analysis. In a memo to the CEO, describe Netflix's competitive strategy and analyze how it competes with similar companies
What is the level of saving in equilibrium : Assume an economy without government and without trade. Suppose the Consumption function is given by, whereas I=50. (Remember to show your work)* What is the equilibrium level of income in this case? What is the level of saving in equilibrium?
Economic growth and development goal of virtually notations : All modern industrial states in the world have a socialized medical system, except south africa and the united states. Why do you think that is? Should the united states adopt a socialized medical system? Why, or why not? Why is economic growth and d..
Benefits and costs to nation of higher trade barriers : A descriptive essay on "what are the benefits and the costs to a nation of higher trade barriers? Which are greater: the benefits or the costs? What impact would a dramatic increase in the world price of oil have on the national?
The mean annual income of certified welders : The mean annual income of certified welders is normally distributed with a mean of $50,000 and a population standard deviation of $2,000. The ship building association wishes to find out whether their welders earn more or less than $50,000 annually. ..
Investment strategy to recommend to clients : You are a financial planner attempting to evaluate your investment strategy to recommend to clients. Based on your economic background, you believe the Fed is going to loosen monetary policy.
What is the distribution of w=x+y+z : Let X~N(2,6) and Y~N(-3,2) and Z~N(0,1). All three random variables are independent of each other. Do the following. a. What is the distribution of W=X+Y+Z? What are E(W) and Var(W)? b. What is the distribution of Q=2Y?
Condition associated with higher rivalry among competitors : For each category, indicate which condition is associated with higher rivalry among competitors.
Describe the multiple regression model in statistics : In your OWN words describe the multiple regression model in statistics. state any references if used.

Reviews

Write a Review

Applied Statistics Questions & Answers

  What are the mean earnings of males and females

What are the mean earnings of males and females in this sample? Does the regression result support the claim in the news and You decide to control for age (in years) in your regression results because older people, up to a point

  Simulation of a poisson and a compound poisson process

Compute the expected time until the 100 th student arrives. What is the probability that the time between the arrival of the 200th and the 201st student exceeds 2 days?

  Q1 in a pure exchange economy with two goods g and h two

q1. in a pure exchange economy with two goods g and h two traders amos and elise have cobb-douglas utility functions.

  Calculate a confidence interval for unknown population

Calculate a 95% confidence interval for the unknown population mean business age - Test, at the 5% level of significance, whether location (Parramatta or Sydney CBD) of the business is related to type of business (privately held, publicly traded or..

  Unemployment survey

Find a statistics study on Unemployment and explain the five-step process of the study.

  Construct a scatter plot for two variables

Assignment Objectives:  Construct a scatter plot for two variables, compute a correlation coefficient, and a regression equation.  Use the regression equation to predict a value of the dependent variable.Purpose:  In this week's assignment, we ..

  State a hypothesis

State a hypothesis.

  You work at the bank of eureka to help customers including

you work at the bank of eureka to help customers including retired people to plan for the future.nbsp often the value

  Additional information from iverstine and walker

1. Does Steve need additional information from Iverstine and Walker? 1. Does Steve need additional information from Iverstine and Walker?

  A plane that has a maximum capacity of 300 people

On any given flight, an airline's goal is to fill the plane as much as possible without overbooking. If, on average, 10% of customers cancel their tickets, all independently of each other, what is the probability that a particular flight will be o..

  A survey of 791 vacationers from the united states found

A survey of 791 vacationers from the United States found

  What is the perfomance statistics p value and is there suffi

Two orchestra's are auditioning for a spot in the finals.  Their performances were rated and received the following scores:  Orchestra 1:   n1 = 31, x1= 78, s1 =10..........Orchestra 2:  n2 = 30, x2 = 72, S2 = 14.   What is the perfomance statistics,..

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