The null hypothesis is rejected when the sample mean M is greater than or equal to 68.95 . Therefore, the architectural firm will make the decision not to open a branch in Vermont if M is less than 68.95 (Hint: To use the tool, set the Mean to the hypothesized mean (65) and the Standard Deviation to the standard deviation of the sampling distribution of M.) Suppose that the true value of u is 69 years. The probability that the architecture firm commits a Type II error is 0.4883 (Hint: To use the tool, set the Mean to the true mean (69) and position the vertical line at the critical value of M 0.01 0.5000 If the true value of µ is 69 years, the power of the test is 0.5199 0.4801 Based on the level of significance it has selected for its test, the architectural firm is willing to risk a unprofitable branch. It is willing to risk a 0.20 probability of not opening the branch when u = 69. (In other words, it is willing to fail to reject the null hypothesis when it actually should have rejected the null hypothesis only 20% of the time.) What should the firm do? 0.01 0.4883 ty of opening an Decrease its sample size. Decrease a. Increase its sample size. O Do nothing; its current risks are acceptable.
The null hypothesis is rejected when the sample mean M is greater than or equal to 68.95 . Therefore, the architectural firm will make the decision not to open a branch in Vermont if M is less than 68.95 (Hint: To use the tool, set the Mean to the hypothesized mean (65) and the Standard Deviation to the standard deviation of the sampling distribution of M.) Suppose that the true value of u is 69 years. The probability that the architecture firm commits a Type II error is 0.4883 (Hint: To use the tool, set the Mean to the true mean (69) and position the vertical line at the critical value of M 0.01 0.5000 If the true value of µ is 69 years, the power of the test is 0.5199 0.4801 Based on the level of significance it has selected for its test, the architectural firm is willing to risk a unprofitable branch. It is willing to risk a 0.20 probability of not opening the branch when u = 69. (In other words, it is willing to fail to reject the null hypothesis when it actually should have rejected the null hypothesis only 20% of the time.) What should the firm do? 0.01 0.4883 ty of opening an Decrease its sample size. Decrease a. Increase its sample size. O Do nothing; its current risks are acceptable.
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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Transcribed Image Text:The null hypothesis is rejected when the sample mean M is greater than or equal to 68.95 . Therefore, the architectural firm will make the
decision not to open a branch in Vermont if M is
less than 68.95
(Hint: To use the tool, set the Mean to the hypothesized mean (65) and the Standard Deviation to the standard deviation of the sampling distribution
of M.)
Suppose that the true value of u is 69 years. The probability that the architecture firm commits a Type II error is 0.4883
(Hint: To use the tool, set the Mean to the true mean (69) and position the vertical line at the critical value of M
0.01
0.5000
If the true value of µ is 69 years, the power of the test is 0.5199
0.4801
Based on the level of significance it has selected for its test, the architectural firm is willing to risk a
unprofitable branch. It is willing to risk a 0.20 probability of not opening the branch when u = 69. (In other words, it is willing to fail to reject the null
hypothesis when it actually should have rejected the null hypothesis only 20% of the time.) What should the firm do?
0.01
0.4883 ty of opening an
Decrease its sample size.
Decrease a.
Increase its sample size.
O Do nothing; its current risks are acceptable.
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