Use the following information for the next 3 questions:
Suppose you want to test for whether there is a difference in
starting salaries for those with a finance degree compared to those
with an accounting degree. You sample 35 graduates with a finance
degree and find the average starting salary to be 58,000 with a
sample standard deviation of 5,000. You also take a sample of 40
graduates with an accounting degree and find the average starting
salary 56,000 to be and a sample variance of 3000. Suppose you want
to test the hypothesis that the starting salary for accounting
degree graduates is less than that of finance degree graduates.
(D=μaccounting−μfinance) Which of the following is the hypothesis
test?
H0:D≥0;HA:D<0H0:D≥0;HA:D<0
H0:D≤0;HA:D>0H0:D≤0;HA:D>0
H0:D<0;HA:D<0
H0:D=0;HA:D≠0
Using the previous information, which of the following is the
test statistic for the hypothesis test? Recall:
D=μaccounting−μfinance
135.5
-2.13
-0.002
-2.06
Assume the test statistic found was 2.5, and the degrees of
freedom found was 50. What is the critical value and outcome of the
hypothesis test at the 1% significance level, if the hypothesis was
found to be:
H0:D=0;HA:D≠0
±±2.403;
Fail to Reject the Null Hypothesis
±±2.678;
Reject the Null Hypothesis
±±2.403;
Reject the Null Hypothesis
±±2.678;
Fail to Reject the Null Hypothesis
1. Since we want to test the hypothesis that the starting salary for accounting is greater than that of finance,
2. To calculate the test statistic, we need to compute the standard deviation:
Standard deviation of the joint sample:
Test statistic can be calculated as follows:
3. For a two tailed test, we find the t value corresponding to 50 degrees of freedom and 0.01 significance level. This value is 2.678. Since the calculated test statistic is less than the critical value, we fail to reject the null hypothesis.
Use the following information for the next 3 questions: Suppose you want to test for whether...
A random sample of 20 observations showed a standard deviation
of 8. At 95% confidence, test to see if the variance of the
population is significantly less than 65. State the null and
alternative hypotheses.
Select one:
A. H0: 2 65 Ha: 2 > 65
B. H0: 2 65 Ha: 2 < 65
C. H0: 2 = 65 Ha: 2 65
D. None of the above answers is correct
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(6 pts) A psychologist who needs two groups of
students for a learning experiment decides to select a random
sample of female college
students and male college students. Before the experiment, the
psychologist administers an IQ test to both groups to determine if
there is a significant difference in their mean IQ scores. The
population standard deviation for this IQ test is know to be
for both female and male populations. If the sample
mean IQ score of the female...
We want to estimate the mean starting salary in a population of graduates. Approximately normally distributed. Standard deviation = 10 In a random sample of 31 graduates, the mean starting salary was 61.8 and the standard deviation was 12. 1. What is the lower (smaller) endpoint of the 90% confidence interval for the population mean? 2. What is the upper (larger) endpoint of the 90% confidence interval for the population mean? 3. If null hypothesis = 60 and alternate hypothesis...
Suppose is a random sample from exponential distribution having unknown mean . We wish to test vs. . Consider the following tests: Test 1: Reject if and only if ; Test 2: Reject if and only if Find the power of each test at . We were unable to transcribe this imageWe were unable to transcribe this imageHo : θ = 4 We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this...
In order to conduct a hypothesis test for the population
proportion, you sample 450 observations that result in 189
successes. (You may find it useful to reference the
appropriate table: z table or t
table)
H0: p ≥ 0.45;
HA: p < 0.45.
a-1. Calculate the value of the test statistic.
(Negative value should be indicated by a minus sign. Round
intermediate calculations to at least 4 decimal places and final
answer to 2 decimal places.)
TEST STATISTIC =
a-2....
Given the pdf Take a sample of size 3 from this pdf. Use the statistic ymax to test H0 : = 5 versus HA : > 5. (a) Find the critical value to give a test of significance = 0.05. (b) Suppose = 7. What is the Type II error for the test in part (a). Θ2 We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe...
You are conducting a multinomial hypothesis test (αα = 0.05) for
the claim that all 5 categories are equally likely to be
selected.
Category
Observed
Frequency
A
20
B
15
C
15
D
12
E
18
What is the chi-square test-statistic for this data?
χ2=χ2=
What are the degrees of freedom for this test?
d.f. =
What is the p-value for this sample? (Report answer accurate to
four decimal places.)
p-value =
The p-value is...
less than (or equal to)...
Given the following situation, H0: = 9, H1: > 9 (c)
if the decision was to reject the null hypothesis, you
would:
A) reject the claim
B) not reject the claim
C) support the claim
D) not support the claim
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Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual salaries are shown in thousands of dollars. Public Accountant Financial Planner 49.2 48.0 58.8 49.2 56.3 53.1 59.2 56.9 55.2 51.9 54.0 52.6 50.9 48.7 60.5 53.9 56.0 52.8 52.9 47.9 (a) Use a 0.05 level of significance and test the hypothesis that there is no difference between the starting annual salaries of public accountants and financial planners. State the null and alternative...