mber the central question - which major, business or engineering, will give the better ROI?
School Type | Cost | 30 Year ROI | Annual ROI |
Private | $222,700.00 | $1,786,000.00 | 7.70% |
Private | $176,400.00 | $1,758,000.00 | 8.40% |
Private | $212,200.00 | $1,714,000.00 | 7.80% |
Public | $125,100.00 | $1,535,000.00 | 9.10% |
Private | $212,700.00 | $1,529,000.00 | 7.40% |
Public | $92,910.00 | $1,501,000.00 | 10.10% |
Private | $214,900.00 | $1,485,000.00 | 7.30% |
Private | $217,800.00 | $1,483,000.00 | 7.20% |
Private | $225,600.00 | $1,444,000.00 | 7.00% |
Private | $217,300.00 | $1,442,000.00 | 7.10% |
Private | $226,500.00 | $1,441,000.00 | 7.00% |
Private | $215,500.00 | $1,438,000.00 | 7.20% |
Private | $223,500.00 | $1,428,000.00 | 7.00% |
Private | $226,600.00 | $1,414,000.00 | 7.00% |
Private | $189,300.00 | $1,397,000.00 | 7.50% |
Public | $89,700.00 | $1,382,000.00 | 9.90% |
Public | $87,030.00 | $1,376,000.00 | 10.00% |
Private | $218,200.00 | $1,343,000.00 | 6.90% |
Private | $229,900.00 | $1,339,000.00 | 6.70% |
Private | $148,800.00 | $1,321,000.00 | 8.10% |
Answer:
here we want to test the null hypothesis H0: =160,000
and
alternate hypothesis Ha: 160,000
we use one sample t-test and
statistic t=( -
)/(s/sqrt(n))
For the given data,
n = 20, Mean ( ) = 188632 and S.D. (s)
= 50503.43
with n-1=20-1=19 df the typical critical t(0.1,19)=1.729 is less than calculated/observed t=2.535
so we fail to accept H0 and conclude that ,the mean ‘Cost’ for a college is different than $160,000
mber the central question - which major, business or engineering, will give the better ROI? For...
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