M7 Problem Set

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Portage Learning *

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110

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Economics

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Jan 9, 2024

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pdf

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12

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M7: Problem Set Due No due date Points 5 Questions 12 Time Limit None Attempt History Attempt Time Score LATEST Attempt 1 7,058 minutes 5 out of 5 Score for this quiz: 9 out of 5 Submitted Sep 4 at 12:41pm This attempt took 7,058 minutes. Question 1 0/0 pts A lettuce grower claims that the mean weight of her heads of lettuce is 2 pounds. You believe that the mean weight of the lettuce is less than two pounds. Please state the null and alternative hypothesis. Your Answer: Here claim is that mean is less than two pounds As null hypothesis is always having equality sign so null hypothesis is H() U= 2 And so claim is the alternative hypothesis that is | H; : u < 2 Ho: u=2 pounds. H4: u<2 pounds.
Question 2 0/0 pts According to Time magazine, in April 2014 the average gas price in the U.S. was $ 3.70. A financial analyst believes that the average gas price is different today. Please state the null and alternative hypothesis. Your Answer: Claim: financial analyst believes that the average gas price is different today. it mean s the average price can be greater than $3.70 or less than $3.70 \Hy : p = 3.70| \Hy : p# 3.70] Ho: u=9% 3.70. Hq: p#$ 3.70. Question 3 0/0 pts According to the Wall Street Journal, in 2011 the average (or mean) cable bill was $ 128 per month. You believe that the mean cable bill is higher today. Please state the null and alternative hypothesis. Your Answer: \Ho : p =128 ‘Hl U > 128‘
Ho: u=9% 128. Hq: u>$ 128. Question 4 0/0 pts A lettuce grower claims that the mean weight of her heads of lettuce is 2 pounds. You believe that the mean weight of the lettuce is less than two pounds. Please state the null and alternative hypothesis. a) Explain what it would mean to make a Type | error. b) Explain what it would mean to make a Type Il error. Your Answer: ‘H() U = 2‘ ‘Hl U< 2‘ a. A type | error occurs if we reject the null hypothesis when the null hypothesis is actually true. Concluding that the mean weight is less than 2 pounds when in reality the claim of the lettuce grower is correct. b. Atype Il error occurs if we do not reject the null hypothesis when the null hypothesis is false. Supporting the claim of the lettuce grower that the mean weight of her heads of lettuce is 2 pounds when in reality it is less than 2 pounds.
a) Type | error: Reject the null hypothesis that the mean weight is 2 pounds when the mean weight is at least 2 pounds b) Type Il error: Do not reject the null hypothesis that the mean weight is 2 pounds when the mean weight is less than 2 pounds Question 5 0/0 pts According to Time magazine, in April 2014 the average gas price in the U.S. was $ 3.70. A financial analyst believes that the average gas price is different today. Please state the null and alternative hypothesis. a) Explain what it would mean to make a Type | error. b) Explain what it would mean to make a Type Il error. Your Answer: \Hy : p = 3.70} \Hy @ p # 3.70| a. A type | error occurs if we reject the null hypothesis when the null hypothesis is actually true. Concluding that the average gas price was not $ 3.70. when in reality the claim is correct. b. Atype Il error occurs if we do not reject the null hypothesis when the null hypothesis is false. Supporting the claim of that the average gas price was $ 3.70 when in reality it is not.
a) Type | error: Reject the null hypothesis that the mean gas price is $ 3.70 when the mean gas price is $ 3.70. b) Type Il error: Do not reject the null hypothesis that the mean gas price is $ 3.70 when the mean gas price is different from $ 3.70. Question 6 0/0pts According to the wall street journal, in 2011 the average (or mean) cable bill was $ 128 per month. You believe that the mean cable bill is higher today. Please state the null and alternative hypothesis. a) Explain what it would mean to make a Type | error. b) Explain what it would mean to make a Type Il error. Your Answer: \Hy : p = 128 ‘HO U > 128‘ a. A type | error occurs if we reject the null hypothesis when the null hypothesis is actually true. Concluding that the average cable bill was not $128 per month. when in reality the claim is correct. b. A type Il error occurs if we do not reject the null hypothesis when the null hypothesis is false. Supporting the claim of that the average cable bill was $128 per month when in reality it is not.
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