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Is there sufficient evidence to conclude that the average monthly Social Security benefit is different for the two groups? a) Formulate the null and the alternative hypotheses and test them at a level of confidence a = 0.01.

Is there sufficient evidence to conclude that the average monthly Social Security benefit is different for the two groups? a) Formulate the null and the alternative hypotheses and test them at a level of confidence a = 0.01.

MATLAB: An Introduction with Applications
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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Problem 6 Researchers used data from the Social Security records to study the average monthly benefit for a specific year for retired workers and for disabled workers. A random sample for both retired and disabled workers revealed the following. mean benefit sample standard deviation sample size Retired $950.50 $98 63 Disabled $902.89 $100 60 Is there sufficient evidence to conclude that the average monthly Social Security benefit is different for the two groups? a) Formulate the null and the alternative hypotheses and test them at a level of confidence a = 0.01. b) Perform the p-value test and confirm the result obtained in part a). c) Find the 99% CI for the difference of average monthly benefit and confirm further the result obtained in part a) and b).
Transcribed Image Text:Problem 6 Researchers used data from the Social Security records to study the average monthly benefit for a specific year for retired workers and for disabled workers. A random sample for both retired and disabled workers revealed the following. mean benefit sample standard deviation sample size Retired $950.50 $98 63 Disabled $902.89 $100 60 Is there sufficient evidence to conclude that the average monthly Social Security benefit is different for the two groups? a) Formulate the null and the alternative hypotheses and test them at a level of confidence a = 0.01. b) Perform the p-value test and confirm the result obtained in part a). c) Find the 99% CI for the difference of average monthly benefit and confirm further the result obtained in part a) and b).
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