Q2/1- Find the z value to the right of the mean so that a. 96.71% of the area under thedistribution curve lies to the left of it0.96712- Find the critical t value for a = 0.05 with d.f. (16) for a right-tailed t test.13- A researcher wishes to see if the mean number of days that a basic, low-price, smallautomobile sits on a dealer's lot is 29. A sample of 30 automobile dealers has a mean of 30.1days for basic, low-price, small automobiles. At a 0.05, test the claim that the mean time isgreater than 29 days. The standard deviation of the population is 3.8 days1.

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Q2/1- Find the z value to the right of the mean so that a. 96.71% of the area under the distribution curve lies to the left of it 0.9671

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Q2/1- Find the z value to the right of the mean so that a. 96.71% of the area under the
distribution curve lies to the left of it
0.9671
2- Find the critical t value for a = 0.05 with d.f. (16) for a right-tailed t test.1
3- A researcher wishes to see if the mean number of days that a basic, low-price, small
automobile sits on a dealer's lot is 29. A sample of 30 automobile dealers has a mean of 30.1
days for basic, low-price, small automobiles. At a 0.05, test the claim that the mean time is
greater than 29 days. The standard deviation of the population is 3.8 days1.

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