View the step-by-step solution to:

A magazine claims to its advertiser that the mean income of its readers is $75,000.

A magazine claims to its advertiser that the mean income of its readers is $75,000. One of the advertisers is skeptical and surveys 39 readers, finding that the average reader's income is $69,530 with a standard deviation of $9,920. Test to determine if the mean income is lower than the company's stated value using α = 0.025.

 

Top Answer

Reject H0 Conclude that mean... View the full answer

Sign up to view the full answer

Other Answers

mean income is lower than... View the full answer

The null and alternative hypotheses are,  H ​ 0 ​ ​ : μ = 7 5 0 0 0   H ​ a ​ ​ : μ < 7 5 0 0 0 ... View the full answer

The correct answer is... View the full answer

1 comment
  • For critical value, t test can also be used as when n > 30, t test and z test are close. t with level of significance 0.025, and 38 degree of freedom is -2.024.
    • sneha.roy
    • Aug 09, 2018 at 11:20pm

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online