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Category > Statistics Posted 11 Jun 2017 My Price 4.00

According to Money, the average amount of money that a typical person

7–35. According to Money, the average amount of money that a typical person in the United States would need to make him or her feel rich is $1.5 million.  A researcher wants to test this claim. A random sample of 100 people in the United States reveals that their mean “amount to feel rich” is $2.3 million and the standard deviation is $0.5 million. Conduct the  test.

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Alpha Geek
(8)
Status NEW Posted 11 Jun 2017 09:06 AM My Price 4.00

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file 1497173950-Answer.docx preview (89 words )
A-----------nsw-----------er ----------- 7------------35.-----------The----------- nu-----------ll -----------hyp-----------oth-----------esi-----------s i-----------s H-----------0:m-----------u=1-----------.5 -----------Aga-----------ins-----------t t-----------he -----------alt-----------ern-----------ati-----------ve -----------hyp-----------oth-----------esi-----------s H-----------1:m-----------u&a-----------mp;-----------gt;-----------1.5----------- Th-----------e d-----------egr-----------ees----------- of----------- fr-----------eed-----------om -----------is -----------100------------1=-----------99 -----------The----------- le-----------vel----------- of----------- si-----------gni-----------fic-----------anc-----------e i-----------s a-----------lph-----------a=0-----------.05----------- Th-----------e m-----------ean----------- an-----------d s-----------tan-----------dar-----------d d-----------evi-----------ati-----------on -----------of -----------100----------- ob-----------ser-----------vat-----------ion-----------s a-----------re -----------$2.-----------3 m-----------ill-----------ion----------- (M-----------) a-----------nd -----------$0.-----------5 m-----------ill-----------ion----------- (s-----------). -----------The----------- es-----------tim-----------ate-----------d s-----------tan-----------dar-----------d e-----------rro-----------r i-----------s: -----------Sm=-----------Roo-----------t o-----------ver----------- s^-----------2/n----------- =r-----------oot----------- ov-----------er -----------0.5-----------^2/-----------100----------- =0-----------.05----------- Th-----------e t----------- te-----------st -----------sta-----------tis-----------tic----------- is----------- T=-----------(M------------mu)-----------/Sm----------- =(-----------2.3------------1.-----------5)/-----------0.0-----------5=1-----------6 T-----------he -----------cri-----------tic-----------al -----------val-----------ue -----------is -----------t(0-----------.05-----------,99-----------)=1-----------.66-----------0
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