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Question 3 A car company wants to know the monthly sales made in (So00), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Đchibit Il below was subsequently generated. Exhibit 2 MODEL N Мean Median TriMean 107.64 Std Dev S.E. Mean HYUNDAI 23 109 135 1.34 ΤΟΥOTA 27 165 124 143.65 9.5 a) Determine the values of and **. b) Give the unbiased point estimate for the average monthly eaming from Hyundai vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehides. d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly eaming from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicles iş equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: į Give the null and alternative hypothesis of this test. i. Determine the critical value s) of this test. iii. Compute the value of the test statistic. iv. State the decision rule. v. Give your decision based on the available sample evidence. vi. Hence, state your conclusion

Question 3 A car company wants to know the monthly sales made in (So00), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Đchibit Il below was subsequently generated. Exhibit 2 MODEL N Мean Median TriMean 107.64 Std Dev S.E. Mean HYUNDAI 23 109 135 1.34 ΤΟΥOTA 27 165 124 143.65 9.5 a) Determine the values of and **. b) Give the unbiased point estimate for the average monthly eaming from Hyundai vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehides. d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly eaming from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicles iş equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: į Give the null and alternative hypothesis of this test. i. Determine the critical value s) of this test. iii. Compute the value of the test statistic. iv. State the decision rule. v. Give your decision based on the available sample evidence. vi. Hence, state your conclusion

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
Section10.1: Measures Of Center
Problem 4GP
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Question 3 A car company wants to know the monthly sales made in (SO00), based on the brand of vehidle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit |I below was subsequently generated. Exhibit 2 MODEL Median TriMean Std Dev Mean S.E. Mean HYUNDAI 23 109 135 107.64 1.34 TOYOTA 27 165 124 143.65 9.5 a) Determine the values of and **. b) Give the unbiased point estimate for the average monthly eaming from Hyundai vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehidles. d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly eaming from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicles iş equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: į. Give the null and alternative hypothesis of this test. ii. Determine the critical value(s) of this test. iii. Compute the value of the test statistic. iv. State the decision rule. v. Give your decision based on the available sample evidence. vi. Hence, state your conclusion
Transcribed Image Text:Question 3 A car company wants to know the monthly sales made in (SO00), based on the brand of vehidle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit |I below was subsequently generated. Exhibit 2 MODEL Median TriMean Std Dev Mean S.E. Mean HYUNDAI 23 109 135 107.64 1.34 TOYOTA 27 165 124 143.65 9.5 a) Determine the values of and **. b) Give the unbiased point estimate for the average monthly eaming from Hyundai vehicles. c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehidles. d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly eaming from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicles iş equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: į. Give the null and alternative hypothesis of this test. ii. Determine the critical value(s) of this test. iii. Compute the value of the test statistic. iv. State the decision rule. v. Give your decision based on the available sample evidence. vi. Hence, state your conclusion
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