Statistics for Business and Economics, assignment help

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Graded Assignment for Chapter 9 (Hypothesis Testing). It is on a spreadsheet, and question 3 used another spreadsheet which is the second tab on the assignment. Put answers in the red boxes; show the formulas or Excel functions you use in making calculations.

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ECON 260 GRADED ASSIGNMENT CHAPTER 9 POINTS: _______ PERCENTAGE: ________ (50 POINTS TOTAL) PUT ANSWERS WITHIN THE BOXES IN EACH QUESTION. SUBMIT THE SPREADSHEET THROUGH CANVAS. IN THE CELLS DO NOT SIMPLY WRITE THE ANSWER BUT PUT IN THE EXCEL FUNCTIONS OR CALCULATIONS SO I CAN SEE WHAT YOU DID TO GET THE ANSWERS.USE THE FORMULAS ON THE FORMULA SHEET. NUMERICAL ANSWERS TO 3 DECIMAL PLACES. I SUGGEST YOU SKETCH GRAPHS OF THE DISTRIBUTIONS AND WRITE OUT THE FORMULAS IF THAT HELPS TO CLARIFY THE SOLUTION TO YOU. 1 Consider the following hypothesis test: (16 points total on #1) H 0 : μ ≤ 50 H a : μ > 50 A sample of 61 is used; the sample standard deviation is s = 8 (the population standard deviation is NOT known). 2 a. Is this a right-tailed (upper tailed) or left-tailed (lower-tailed) test or a two-tailed test? b. Step 1: Step 2: Step 3: Step 4: Develop the null and alternative hypotheses (done above) Specify the level of significance (use α = 0.01) Collect the sample data, calculate the sample mean, sample standard deviation, standard error of the mean, and the test statistic: 𝑥ҧ = 52.5 s=8 = Should you use the standard normal distribution or the t- distribution: If it is a t -distribution, how many degrees of freedom df? The test statistic (z or t ) = Compute the p -value (refer to the matrix for the formula): Step 5: Do you reject H 0 ? Step 6: What is your conclusion from this test? Consider the following hypothesis test: (16 points total on #1) H 0 : μ = 22 H a : μ ≠ 22 A sample of 81 is used; the sample standard deviation is s = 10 (the population standard deviation is NOT known). 3 a. Is this a right-tailed (upper tailed) or left-tailed (lower-tailed) test or a two-tailed test? b. Step 1: Step 2: Step 3: Step 4: Develop the null and alternative hypotheses (done above) Specify the level of significance (use α = 0.01) Collect the sample data, calculate the sample mean, sample standard deviation, standard error of the mean, and the test statistic: 𝑥ҧ = 23 s = 10 = Should you use the standard normal distribution or the t- distribution: If it is a t -distribution, how many degrees of freedom df? The test statistic (z or t ) = Compute the p -value (refer to the matrix for the formula): Step 5: Do you reject H 0 ? Step 6: What is your conclusion from this test? (based on Ch. 9, #51) (18 points total on #3) The average pay for women who have a high-school diploma (i.e. no more education than a high-school diploma) is $520 per week. Suppose you want to determine whether the average pay for all working women is significantly higher than the pay for women with a high-school diploma. The spreadsheet WeeklyPay(modified).xlsx in the next tab of this workbook contains data on the pay of 50 working women (some of them have only high-school diplomas, some of them less education than that, some more – we have no information about that in the data). Use the following Null and Alternative Hypotheses for this test: H0: μ ≤ 520 H0: μ > 520 a. What kind of test is this? (2 points) (place an X on the correct choice) One-tailed, Left tailed test? One-tailed, Right tailed test? Two-tailed test? b. Based on the data in the spreadsheet, compute . . . (2 points each) i. Sample mean: ii. Sample standard deviation: iii. Standard error of the sample mean 𝑠𝑥ҧ : iv. Test statistic (t -statistic) of the sample: v. Degrees of freedom df : vi. p- level : vii. What is the rejection rule for this test? viii: If the significance level α = 0.05, do you reject H 0 and accept H a or accept H 0 ? 𝑥ҧ Weekly Pay 582 333 759 633 629 523 320 685 599 753 553 641 290 800 696 627 679 667 542 619 950 614 548 570 678 697 750 569 679 598 596 557 657 617 1230 648 760 804 675 736 565 587 Sample size: Sample mean: Sample standard deviation: Standard error of the sample mean 𝑠𝑥:ҧ Hypothesized value of μ to be tested: Test statistic (t -statistic) of the sample: Degrees of freedom df : p- level : 565 687 498 712 533 424 772 691
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Explanation & Answer

Hi there!Attached is the completed Excel assignment. Please look it over, and let me know if you have any questions :)Thanks again,Selenica

ECON 260 GRADED ASSIGNMENT CHAPTER 9

POINTS: _______ PERCENTAGE: ________

(50 POINTS TOTAL)

PUT ANSWERS WITHIN THE BOXES IN EACH QUESTION. SUBMIT THE SPREADSHEET THROUGH CANVAS. IN THE
CELLS DO NOT SIMPLY WRITE THE ANSWER BUT PUT IN THE EXCEL FUNCTIONS OR CALCULATIONS SO I CAN SEE

𝑥ҧ

WHAT YOU DID TO GET THE ANSWERS.USE THE FORMULAS ON THE FORMULA SHEET.
NUMERICAL ANSWERS TO 3 DECIMAL PLACES.
I SUGGEST YOU SKETCH GRAPHS OF THE DISTRIBUTIONS AND WRITE OUT THE FORMULAS IF THAT HELPS TO
CLARIFY THE SOLUTION TO YOU.
1

Consider the following hypothesis test: (16 points total on #1)
H 0 : μ ≤ 50
H a : μ > 50
A sample of 61 is used; the sample standard deviation is s = 8 (the population standard
deviation is NOT known).

2

a.

Is this a right-tailed (upper tailed) or left-tailed (lower-tailed) test or a two-tailed test?
Right-tailed

b.

Step 1:
Step 2:
Step 3:

Step 4:

Develop the null and alternative hypotheses (done above)
Specify the level of significance (use α = 0.01)
Collect the sample data, calculate the sample mean, sample
standard deviation, standard error of the mean, and the test
statistic:
𝑥ҧ = 52.5
s=8
=
Should you use the standard normal distribution or the t- distribution:
If it is a t -distribution, how many degrees of freedom df?
The test statistic (z or t ) =
Compute the p -value (refer to the matrix for the formula):

Step 5:

Do you reject H 0 ?

Step 6:

What is your conclusion from this test?

1,024
t-distribution

60
2,441

2,390
Yes
μ > 50

Consider the following hypothesis test: (16 points total on #1)
H 0 : μ = 22
H a : μ ≠ 22
A sample of 81 is used; the sample standard deviation is s = 10 (the populatio...


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