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company The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. montnly sales (S000), nd of venicie. Exhibit 2 Model Mean Median Tri.Mean Std Dev S.E. Mean Hyundai Toyota 23 109 135 107.64 1.34 27 165 124 143.65 9.5 ** a) Determine the values of * and **. b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehicles d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly earning from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicle is equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: i. Give the null and alternative hypothesis of this test. ii. Determine the critical value(s) of this test. Compute the value of the test statistic. 111. iv. State the decision rule. Give your decision based on the available sample evidence. Hence, state your conclusion. v. vi.

company The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. montnly sales (S000), nd of venicie. Exhibit 2 Model Mean Median Tri.Mean Std Dev S.E. Mean Hyundai Toyota 23 109 135 107.64 1.34 27 165 124 143.65 9.5 ** a) Determine the values of * and **. b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehicles d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly earning from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicle is equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: i. Give the null and alternative hypothesis of this test. ii. Determine the critical value(s) of this test. Compute the value of the test statistic. 111. iv. State the decision rule. Give your decision based on the available sample evidence. Hence, state your conclusion. v. vi.

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
Section10.3: Measures Of Spread
Problem 1GP
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Please asssit with questions (d) (e - i) and (e - ii) as highlighted in red

A car company wants to know the monthly sales made in ($000), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. Exhibit 2 Model Mean Median Tri.Mean Std Dev S.E. Mean Hyundai Toyota 135 109 165 23 107.64 1.34 27 124 143.65 9.5 ** a) Determine the values of * and **. b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehicles d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly earning from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicle is equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: i. Give the null and alternative hypothesis of this test. Determine the critical value(s) of this test. Compute the value of the test statistic. 11. ii. iv. State the decision rule. Give your decision based on the available sample evidence. vi. Hence, state your conclusion. V.
Transcribed Image Text:A car company wants to know the monthly sales made in ($000), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. Exhibit 2 Model Mean Median Tri.Mean Std Dev S.E. Mean Hyundai Toyota 135 109 165 23 107.64 1.34 27 124 143.65 9.5 ** a) Determine the values of * and **. b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehicles d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly earning from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicle is equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: i. Give the null and alternative hypothesis of this test. Determine the critical value(s) of this test. Compute the value of the test statistic. 11. ii. iv. State the decision rule. Give your decision based on the available sample evidence. vi. Hence, state your conclusion. V.
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