This topic contains a solution. Click here to go to the answer

Author Question: When using Excel's BINOM.DIST function, one should choose TRUE for the fourth input if _____. a. a ... (Read 35 times)

Pineappleeh

  • Hero Member
  • *****
  • Posts: 585
When using Excel's BINOM.DIST function, one should choose TRUE for the fourth input if _____.
 a. a probability is desired
  b. a cumulative probability is desired
  c. the expected value is desired
  d. the correct answer is desired

Question 2

A sample of 64 account balances from a credit company showed an average daily balance of 1040 . The standard deviation of the population is known to be 200 . We are interested in determining if the mean of all account balances (i.e., population mean) is significantly different from 1000.
 a. Develop the appropriate hypotheses for this problem.
  b. Compute the test statistic.
  c. Compute the p-value.
  d. Using the p-value approach and  = .05, test the above hypotheses. What is your conclusion?
  e. Using the critical value approach and  = .05, test the hypotheses. What is your conclusion?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zenzy

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

b

Answer to Question 2

a. H0:  = 1000
Ha:   1000
b. 1.60
c. .1096
d. p-value = .1096 >  = .05 . The null hypothesis is not rejected; no evidence to show that the mean is significantly different from 1000.
e. z = 1.60 is between -1.96 and 1.96; the null hypothesis cannot be rejected; there is no evidence that the mean is significantly different from 1000.




Pineappleeh

  • Member
  • Posts: 585
Reply 2 on: Jun 24, 2018
Wow, this really help


triiciiaa

  • Member
  • Posts: 349
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

For a complete list of videos, visit our video library