Fairfield Homes is developing two parcels near Pigeon Fork, Tennessee. In order to test different advertising approaches, it uses different media to reach potential buyers. The mean annual family income for 18 people making inquiries at the first development is $162,000, with a standard deviation of $40,000. A corresponding sample of 29 people at the second development had a mean of $181,000, with a standard deviation of $29,000. Assume the population standard deviations are the same. At the 0.01 significance level, can Fairfield conclude that the population means are different? a. State the decision rule for 0.01 significance level: Hg: H1 = Hz; H # µz- (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Reject H0 if t is not between and b. Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.) Value of the test statistic c. At the 0.01 significance level, can Fairfield conclude that the population means are different? HO. Fairfield conclude that the population means are different.

The average McDonald's restaurant generates $3.6 million in sales each year with a standard deviation of 0.9. Trent wants to know if the average sales generated by McDonald's restaurants in Kentucky is different than the worldwide average. He surveys 27 restaurants in Kentucky and finds the following data (in millions of dollars): 4.1, 2.8, 4.4, 4.5, 5.3, 5, 3.7, 2.9, 3.8, 4.8, 3.6, 2.3, 3.7, 2.9, 2.9, 4, 1.1, 5.2, 2.9, 5, 4, 4, 5.9, 3.2, 2.2, 4.3, 3.8 Perform a hypothesis test using a 3% level of significance. Step 1: State the null and alternative hypotheses. Ho: [? v] ? v На: ? ? v (So we will be performing a Select an answer test.) Step 2: Assuming the null hypothesis is true, determine the features of the distribution of point estimates using the Central Limit Theorem. By the Central Limit Theorem, we know that the point estimates are Select an answer v with distribution mean and distribution standard deviation Step 3: Find the p-value of the point estimate. P( ? v ? v = P( ? ♥ ?…

You may need to use the appropriate technology to answer this question. Data were collected on the top 1,000 financial advisers. Company A had 239 people on the list and another company, Company B, had 121 people on the list. A sample of 16 of the advisers from Company A and 10 of the advisers from Company B showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation of the amount managed by advisers from Company A was s₁ = $583 million. The standard deviation of the amount managed by advisers from Company B was s₂ = $484 million. Conduct a hypothesis test at a = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of funds managed by advisers from the two firms? State the null and alternative hypotheses. 2 2 H₂:0 2 Find the value of the test statistic. (Round your answer…

Español Valley College and Elm College are two local colleges. For each college, the distribution of the ages of faculty members is clearly bell-shaped. The ages of faculty members at Valley College have a population mean of 51 years and a standard deviation of 6.3 years. The ages of faculty members at Elm College have a population mean of 56 years and a standard deviation of 4.2 years. Maria is 67 years old and a faculty member at Valley College. Salma is 40 years old and a faculty member at Elm College. (a) Find the z-scores of Maria's age as a faculty member at Valley College and Salma's age as a faculty member at Elm College. Round your answers to two decimal places. z-score of Maria's age: z-score of Salma's age: (b) Relative to her population, who is the older faculty member? Choose the best answer based on the z-scores of the two ages. O Maria O Salma O It is unclear who is the older faculty member relative to her population Explanation 2022 Mc X Terms of Use | Privacy Center |…