Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

A clinic offers a weight reduction program. A review of its records found thefollowing weight losses, in pounds, for a random sample of ten of its patients atthe conclusion of the program

.18.2 25.9 6.3 11.8 15.420.3 16.8 19.5 12.3 17.2

Assume the population distribution is normal. Use Excel to compute necessary statistics and probabilities.

(a) Find a 99% confidence interval for the population mean weight-loss.

(b) Using the result in (a), test at the 1% significance level the nullhypothesis that the population mean equals 20 against the two-sidedalternative.

(c) Test the null hypothesis that the population mean weight-loss equals20 pounds against the one-sided alternative hypothesis that the populationmean weight-loss is lower than 20 pounds at the 5% level.

(d) Find the p-value of the above test in (c).

(e) Suppose that the population mean is in fact 20. What is theprobability that the null hypothesis will be rejected (Type I error) in (a)?

(f) Suppose the population mean is in fact 19 and the populationstandard deviation is 5. What is the probability that the testH0: ?? = 20,H1: ?? < 20will not reject the null against the alternative at the 5% level (Type II error)?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M93065890

Have any Question?


Related Questions in Business Economics

What are the differences between the programming lanaguages

What are the differences between the programming lanaguages of VHDL and Verilog? Why use one over the other? Provide some examples for pulsed waveforms.

Identify a recent mergeracquisition that does not include

Identify a recent merger/acquisition that does not include Amazon and use it to and explain: was the merger/acquisition predominately about gaining economies of scale or economies scope?

What is asymmetric information and how does it affect the

What is asymmetric information and how does it affect the consumer or buyer?

Draw supply and demand curve to illustrate the following

Draw supply and demand curve to illustrate the following sequences of events. Show changes in one graph. Assume upward sloping for supply curves and downward sloping for demand curves 1. In year 1, the rental apartment m ...

Suppose the market demand and market supply curves are

Suppose the market demand and market supply curves are given by the following equations: QD = 120 - 10P QS = 20P a. Draw a figure of supply and demand representing this market. Be sure to label the axes and intercepts. ( ...

How does consumers influence the market price of goods it

How does consumers influence the market price of goods it sells, and what does the term, "market power" means?

Suppose a consumer is trying to make a choice over the

Suppose a consumer is trying to make a choice over the consumption of two goods: x and y. Px = 3, Py = 4 and the income is equal to 50. Assume that the government distributes some stamps that are good to buy 5 units of g ...

How does the monopolies make production and pricing

How does the Monopolies Make Production and Pricing Decisions in Economics?

Use the following table to find thenbspsteady-state values

Use the following table to find the? steady-state values of the? capital-labor ratio and output if the? per-worker production function is y t  = 2k t 0.3 . Saving rate (s) = 0.37 Depreciation rate = 0.04 population growt ...

One of the authors received a credit card bill for 3167 and

One of the authors received a credit card bill for 3167 and it included a charge of 1622 that was not valid. Find the values of the absolute amd relative errors.

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As