Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

In a study of vehicle ownership, it has been found that 31% of U.S. households do not own a vehicle, with 48% owning 1 vehicle, and the remaining owning 2 or more vehicles. The data for a random sample of 200 households in a resort community are as follows: 76 owned 0 vehicles, 106 owned 1 vehicle, and the remaining owned 2 or more vehicles. When testing (at the 10% level of significance) whether the vehicle-ownership distribution in this community differs from that of the nation as a whole what is the critical value? (please round your answer to 3 decimal places)

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91673353

Have any Question?


Related Questions in Business Economics

In a survey of first graders their mean height was 499

In a survey of first graders, their mean height was 49.9 inches with a standard deviation of 3.15 inches. Assuming the heights are normally distributed, what height represents the first quartile of these students?

Consider the following production function that is already

Consider the following production function that is already written in per worker terms: y = Akαh 1-α where h represents human capital per worker. Suppose we are given the following information: capital per worker in an e ...

How do changes in income affect consumption and savingwhat

How do changes in income affect consumption (and saving)? What are factors other than income that can affect consumption?

How does the monopolies make production and pricing

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

Suppose a retailer claims that the average wait time for a

Suppose a retailer claims that the average wait time for a customer on its support line is 179 seconds. A random sample of 57 customers had an average wait time of 169 seconds. Assume the population standard deviation fo ...

In 2011 new jersey governor chris christie announced that

In 2011, New Jersey Governor Chris Christie announced that he would pull the state out of the Regional Greenhouse Gas Initiative (RGGI), which is a coalition of 10 states that agreed to reduce their emissions of carbon d ...

Suppose you roll a standard 6-sided die if you roll a 1 1

Suppose you roll a standard 6-sided die. If you roll a 1 (1), you randomly select one chip from a bowl containing 2 red (R) and 3 white (W) chips. If you don't roll a 1 (1c), you randomly select 1 chip from a bowl contai ...

The mean distance commuters drove to work each day was

The mean distance commuters drove to work each day was estimated to be 40.8 miles from a sample of 45 commuters. The sample standard deviation was 5.8 miles. Assume that the distance commuters drive to work each day are ...

When we look at the ease to enter the different market

When we look at the ease to enter the different market structure, there is no doubt that 'monopoly' is the hardest. Why? -- There is only ONE firm that has established 'economies of scale' with the production of their go ...

Given a binomial random variable x successes where the

Given a binomial random variable, X = # successes, where the sample size (n) and the probability of a success (p) are given on right, calculate P(X   n =20   p =0.3   a =2     Given a binomial random variable, X = # succ ...

  • 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