The CEO of a large financial institution claims that, on average, their clients invest more than R95 000 per year in a particular portfolio. Test this claim at the 10% significance level if it was found that a sample of 26 clients invested an average of R94 000 in the portfolio over the last year, with a standard deviation of R11 000.

Q: A newsvendor wants to achieve a 0.975 in-stock probability. Demand is normallydistributed with a…

A: Introduction: A continuous probability distribution that is symmetrical on both sides of the mean is…

Q: A scrap metal dealer claims that the mean of its cash sales is ‘no more than $80’, although an…

A:

Q: On their website, a property management company states that the mean monthly rent for apartments an…

A: Given : Claim : The mean monthly rent for apartments on the east side is less than what is stated on…

Q: A shop owner claims that on average, his shop has a daily turnover of R55000. Test this claim at the…

A: We have given that  Sample size n=68 , xbar=57750, sigma =3250 ,  level of significance =alpha =0.01

Q: A mortgage broker is offering home mortgages at a rate of 9.5%, but the broker is fearful that this…

A: Given Information: Hypothesized value of population mean is 9.5% Sample size n=40 Sample mean…

Q: An automobile insurance company claims that its rates for teenage drivers average $470 less per year…

A: Given: population mean = 470sample size=30sample mean = 435std deviation =65

Q: In a sample of 70 business trips taken by employees in the HR department, a company finds that the…

A: Basic: The rejection  or acceptance of p-value  is depend on significance level,  the rejection rule…

Q: The accountants of a known auditing firm have a mean daily salary of P850 with a standard deviation…

A: X~N(μ= 850 , σ= 82 ) μ= 850 , σ= 82 Formula for Z-score Z=(X-μ)/σ

Q: A student finds that the average price of a movie ticket in Washington is $12.25 and that the…

A: From the provided information, Mean (µ) = $12.25 Standard deviation (σ) = $2 Let X be a random…

Q: In a recent​ year, the total scores for a certain standardized test were normally​ distributed, with…

A: Given that, Mean = 500 Standard deviation = 10.7

Q: A survey from 50 stores found that the average price of a moisturizing soap is P88.42 and the…

A:

Q: In a sample of 80 business trips taken by employees in the HR department, a company finds that the…

A: The level of significance is given by 5% = 0.05 And the p-value is 0.027

Q: The sales representative for a manufacturer of a new product claims that the product will increase…

A: Solution

Q: A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive…

A:

Q: A manufacturer is interested in the output voltage of a power supply used in a PC. Output voltage is…

A:

Q: The CEO of a large financial institution claims that, on average, their clients invest more than R45…

A: Statistical hypothesis testing is an important method in inferential statistics. It is used to test…

Q: The CEO of a large financial institution claims that, on average, their clients invest more than…

A: Null Hypothesis: A hypothesis which is tested for plausible rejection is called the Null Hypothesis…

Q: The CEO of a large financial institution claims that, on average, their clients invest more than…

A: Given sample details : Sample Mean (Xˉ)(\bar X) = R74 000 Sample Standard Deviation (s)(s) = R7 000…

Q: A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive…

A: Given information- Population mean, μ = 9 years Sample size, n = 95 Significance level, α = 0.01…

Q: A small computing centre has found that the number of jobs submitted per day to its computers has a…

A:

Q: The treasurer of a certain university claims that the mean monthly salary of their college…

A: Given : sample size, n = 75 sample mean, x̄ = 19375 population standard…

Q: The​ quality-control manager at a compact fluorescent light bulb​ (CFL) factory needs to determine…

A:

Q: A trucking firm claims that the weights of trucks it sends over a municipal road is 25,000 kg. Test…

A: Given : Claim : The weights of trucks it sends over a municipal road is 25,000 kg.

Q: At a customer service call center for a large company, the number of calls received per hour is…

A: Let X represent the random variable   Mean=140 SD=5   X~ Normal (140, 5^2)

Q: At a customer service call center for a large company, the number of calls received per hour is…

A: At a customer service call center for a large company, the number of calls received per hour is…

Q: Suppose annual salaries for sales associates from a particular store have a bell-shaped distribution…

A:

Q: The average grade of 64 students selected to test the claim that the students in the Business…

A: Given: n=64, x=72 and p-value=0.03. The test is to test:H0:μ=70vsH1:μ>70   So, it is right tailed…

Q: Q.5.2 The CEO of a large financial institution claims that, on average, their clients invest more…

A:

Q: The quality-control manager at a compact fluorescent light bulb (CFL) factory needs to determine…

A:

Q: The average income in Boston is 6200 witha standard deviation of 8000, while the average income in…

A: GivenFor BostonMean(μ)=6200standard deviation(σ)=8000For chicagoMean(μ)=48000standard…

Q: A fast food chain advertises that their large bag of French fries has a weight of 150 grams.  Some…

A: State the hypotheses.

Q: Suppose in a city of 100,000 residents, a survey was conducted with size of 1650. If Forty-two…

A: GivenThe sample size = 1650The percentage of population opposes the new taxes for the geothermal…

Q: in one region, the September energy consumption level for single-family homes are found to be…

A:

Q: The 2008 General Social Survey asked a large number of people how much time they spent watching TV…

A: According to the given question, The 2008 General Social Survey asked a large number of people how…

Q: An industrial company claims that the mean pH level of the water in a nearby river is6.8. You…

A: Statistical hypothesis testing is an important method in inferential statistics. It is used to test…

Q: An auditor reviewed 20 oral surgery insurance claims from a particular surgical office, determining…

A: From the provided information, Sample size (n) = 20 Sample mean (x̅) = $272.98 Sample standard…

Q: A manufacturer of mugs packages them in boxes of 100. It is shown that, on the average, mugs weigh…

A: Mean 100 standard deviation 5 n  100 N 10000 Hypothesis testing involves large samples is…

Q: The daily demand for six-packs of Coke at Mr. D’sfollows a normal distribution, with a mean of 120…

A: Given: Let X be the number of six packs ordered daily. Given: X is normally distributed. Mean of X =…

Q: From a sample of 32 eruptions, the mean duration time of the eruptions was 3.32 minutes with a…

A: Chebyshev’s rule: The Chebyshev’s rule states that, for any quantitative data set and any real…

Q: A desktop PC uses 120 watts of electricity per hour based on 4 hours of use per day. Assume the…

A: Given that mu = 120 , s.d = 6,n=500 p(x<106 ) =?  approximately how many will use less than 106…

Q: The AAA reports that the average time it takes to respond to an emergency call is 25 minutes. Assume…

A:

Q: In one region, the September energy consumption levels for single-family homes are found to be…

A: Consider that the mean and standard deviation of a random variable X are µ and σ, respectively.…

Q: A district councilor informs the prospective developer of a shopping centre that the average monthly…

A: Solution: Given information: n= 25 Sample size x = 2400 Sample mean μ= 2500 Population mean σ= 200…

Q: A manufacturer claims that the light bulbs that they produce have a mean lifetime of 1,200 hours and…

A: It is given that, A manufacturer claims that the light bulbs that they produce have a mean lifetime…

Q: In one region, the September energy consumption levels for single -family homes are found to be…

A: It is given that the September energy consumption levels follows normal distribution with mean 1050…

Q: An electrical firm manufactures light bulbs that have a lifetime that is approximately normally…

A:

Q: A researcher reports that the average salary of assistant professors in a certain state is $42,000.…

A: Hypothesized Population Mean, μ0 = $42000 Sample size, n = 30 Sample mean , x¯ = 43260 sample…

Q: A radio station claims that the amount of advertising per hour of broadcast time has an average of…

A: It is given that, A radio claims that the amount of advertising per hour of broadcast time has an…

Q: A candy company claims that 18​%of its plain candies are​ orange, and a sample of 200 such candies…

A: Given: n = 200 and p=0.18 Consider, X be the random variable that represents the number of orange…

Q: In one region, the September energy consumption levels for single-family homes are found to be…

A: we have to use z table to solve.

2-Proportion Test

In a 2-proportion test, two separate proportions are measured at the same time, and their similarity is evaluated. It is also known as a 2-proportion z-test, and a comparison of two different proportions is done in this method.