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 30 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
:D TYSM


patma1981

  • Member
  • Posts: 292
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

For a complete list of videos, visit our video library