Statistics for Business & Economics, Revised (MindTap Course List)

12th Edition

ISBN: 9781285846323

Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

Publisher: South-Western College Pub

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Textbook Question

Chapter 9.3, Problem 20E

For the United States, the mean monthly Internet bill is $32.79 per household (CNBC, January 18, 2006). A sample of 50 households in a southern state showed a sample mean of $30.63. Use a population standard deviation of σ = $5.60.

a. Formulate hypotheses for a test to determine whether the sample data support the conclusion that the mean monthly Internet bill in the southern state is less than the national mean of $32.79.
b. What is the value of the test statistic?
c. What is the p-value?
d. At α = .01, what is your conclusion?

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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Chapter 9 Solutions

Statistics for Business & Economics, Revised (MindTap Course List)

Ch. 9.1 - The manager of the Danvers-Hilton Resort Hotel...Ch. 9.1 - The manager of an automobile dealership is...Ch. 9.1 - A production line operation is designed to fill...Ch. 9.1 - Because of high production-changeover time and...Ch. 9.2 - Duke Energy reported that the cost of electricity...Ch. 9.2 - The label on a 3-quart container of orange juice...Ch. 9.2 - Carpetland salespersons average 8000 per week in...Ch. 9.2 - Suppose a new production method will be...Ch. 9.3 - consider the following hypothesis test: H0: 20...Ch. 9.3 - Consider the following hypothesis test: H0: 25...

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Solution Summary: The author explains the null and alternative hypotheses for a test to determine whether the sample data support the conclusion that the southern state's monthly internet bill is less than the national mean of 32.79.

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