Question Details

Compute the sample mean and the standard deviation 



1.	A group of young businesswomen wish to open a high fashion boutique in a vacant store but only if the average income of households in the area is at least $25,000. A random sample of 9 households showed the following results.

$28,000	$24,000	$26,000	$25,000
$23,000	$27,000	$26,000	$22,000
$24,000			

Assume the population of incomes is normally distributed.

a.	Compute the sample mean and the standard deviation.
b.	State the hypotheses for this problem.
c.	Compute the test statistic.
d.	At 95% confidence using the p-value approach, what is your conclusion?



2.	Nancy believes that the average running time of movies is equal to 140 minutes. A sample of 4 movies was taken and the following running times were obtained. Assume the population of the running times is normally distributed.

150	150	180	170

a.	Compute the sample mean and the standard deviation .
b.	State the null and alternative hypotheses.
c.	Using the critical value approach, test the hypotheses at the 10% level of significance.
d.	Using the p-value approach, test the hypotheses at the 10% level of significance.





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