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A research article claims that the mean cost of raising a child from birth to age 2 in a rural area is $10,460. You believe this value is incorrect, so you select a random sample of 900 children and find the mean cost is $10,345 with a standard deviation of $1520. Is there enough evidence to conclude that the mean cost is different from $10,460 at 5% level of significance? a. Which of the following statistical tests is most appropriate in this scenario? Two-Tailed Z-Test One-Tailed Z-Test Two-Tailed T-Test One-Tailed T-Test

A research article claims that the mean cost of raising a child from birth to age 2 in a rural area is $10,460. You believe this value is incorrect, so you select a random sample of 900 children and find the mean cost is $10,345 with a standard deviation of $1520. Is there enough evidence to conclude that the mean cost is different from $10,460 at 5% level of significance? a. Which of the following statistical tests is most appropriate in this scenario? Two-Tailed Z-Test One-Tailed Z-Test Two-Tailed T-Test One-Tailed T-Test

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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A research article claims that the mean cost of raising a child from birth to age 2 in a rural area is $10,460. You believe this value is incorrect, so you select a random sample of 900 children and find the mean cost is $10,345 with a standard deviation of $1520. Is there enough evidence to conclude that the mean cost is different from $10,460 at 5% level of significance? a. Which of the following statistical tests is most appropriate in this scenario? O Two-Tailed Z-Test OOne-Tailed Z-Test Two-Tailed T-Test One-Tailed T-Test
Transcribed Image Text:A research article claims that the mean cost of raising a child from birth to age 2 in a rural area is $10,460. You believe this value is incorrect, so you select a random sample of 900 children and find the mean cost is $10,345 with a standard deviation of $1520. Is there enough evidence to conclude that the mean cost is different from $10,460 at 5% level of significance? a. Which of the following statistical tests is most appropriate in this scenario? O Two-Tailed Z-Test OOne-Tailed Z-Test Two-Tailed T-Test One-Tailed T-Test
b. What are the appropriate hypotheses for the test? Ho : µ = $10460 H1 : µ # $10460 Ho : µ + $10460 H : µ = $10460 Ho : µ = $10460 H : µ > $10460 Ho : µ = $10460 H : µ < $10460 c. After conducting the appropriate significance test, the test statistic was found to be -2.24. Therefore, the conclusion for the test is: Reject Ho, because p-value is less than 0.05 Fail to reject Ho, because -2.24 falls outside the critical region O Reject H1, because -2.24 falls within the critical region Fail to reject Ho, because p-value is less than 0.05
Transcribed Image Text:b. What are the appropriate hypotheses for the test? Ho : µ = $10460 H1 : µ # $10460 Ho : µ + $10460 H : µ = $10460 Ho : µ = $10460 H : µ > $10460 Ho : µ = $10460 H : µ < $10460 c. After conducting the appropriate significance test, the test statistic was found to be -2.24. Therefore, the conclusion for the test is: Reject Ho, because p-value is less than 0.05 Fail to reject Ho, because -2.24 falls outside the critical region O Reject H1, because -2.24 falls within the critical region Fail to reject Ho, because p-value is less than 0.05
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