Leading Businesses The following data show the yearly budgets for leading business sectors in the United States. At=α0.01, is there a significant difference in the mean budgets of the business sectors? The data are in thousands of dollars. Use the critical value method with tables. BeveragesElectronicsFood ProducersSupportive Services170475659 128246136 22163121 16143121 10132817 10132215 Assume that all variables are normally distributed, that the samples are independent, that the population variances are equal, and that the samples are simple random samples, one from each of the populations. Compute the test value. Round the intermediate and the final answers to two decimal places.F=

Hypothesis: The null and alternative hypothesis are below: H0: There no is difference in the mean…

Answered: Leading Businesses The following data…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

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ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.3: Measures Of Spread

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Leading Businesses The following data show the yearly budgets for leading business sectors in the United States. At=α0.01, is there a significant difference in the mean budgets of the business sectors? The data are in thousands of dollars. Use the critical value method with tables.

Beverages	Electronics	Food Producers	Supportive Services
170	47	56	59
128	24	61	36
22	16	31	21
16	14	31	21
10	13	28	17
10	13	22	15

Assume that all variables are normally distributed, that the samples are independent, that the population variances are equal, and that the samples are simple random samples, one from each of the populations.

Compute the test value. Round the intermediate and the final answers to two decimal places.

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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