A contractor wants to lower the electricity bill by using a certain type of equipment in the house. Before the installation of that equipment the average monthly electricity bill of the housing 7800 rupees. The contractor wants to check whether the equipment comes out as effective. For that, she waited for one year after installation, and collect the monthly electricity bill for each month. She finds the average monthly electricity bill after installation of the equipment is 7297 rupees. It is known that the population standard deviation of the electricity bill is 950 rupees. Use p-value to find her conclusion? Construct a 95% interval estimate for the average monthly electricity bill. Determine the power of the test if the true average monthly bill is 7100 rupees.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
A contractor wants to lower the electricity bill by using a certain type of equipment in the house. Before the installation of that equipment the average monthly electricity bill of the housing 7800 rupees. The contractor wants to check whether the equipment comes out as effective. For that, she waited for one year after installation, and collect the monthly electricity bill for each month. She finds the average monthly electricity bill after installation of the equipment is 7297 rupees. It is known that the population standard deviation of the electricity bill is 950 rupees. Use p-value to find her conclusion?
Construct a 95%
Determine the power of the test if the true average monthly bill is 7100 rupees.
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