Answered: A leasing firm claims that the mean…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

A leasing firm claims that the mean number of miles driven annually,

, in its leased cars is less than

12960

miles. A random sample of

cars leased from this firm had a mean of

12481

annual miles driven. It is known that the population standard deviation of the number of miles driven in cars from this firm is

1320

miles. Assume that the population is normally distributed. Is there support for the firm's claim at the

0.05

level of significance?

Perform a one-tailed test. Then fill in the table below.

Carry your intermediate computations to at least three decimal places, and round your responses as specified in the table.

The null hypothesis:	H0:
The alternative hypothesis:	H1:
The type of test statistic:	(Choose one)ZtChi squareF

The value of the test statistic: (Round to at least three decimal places.)
The critical value at the 0.05 level of significance: (Round to at least three decimal places.)
Can we support the leasing firm's claim that the mean number of miles driven annually is less than 12960 miles?	Yes	No

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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