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“Sectoring by Industry Groups.” Nasdaq. Available online at http://www.nasdaq.com/markets/barchart-sectors.aspx?page=sectors&base=industry (accessed June 17, 2013).

“Strip Clubs: Where Prostitution and Trafficking Happen.” Prostitution Research and Education, 2013. Available online at www.prostitutionresearch.com/ProsViolPosttrauStress.html (accessed June 17, 2013).

“World Series History.” Baseball-Almanac, 2013. Available online at http://www.baseball-almanac.com/ws/wsmenu.shtml (accessed June 17, 2013).

Chapter review

Two population means from independent samples where the population standard deviations are not known

  • Random Variable: X ¯ 1 X ¯ 2 = the difference of the sampling means
  • Distribution: Student's t -distribution with degrees of freedom (variances not pooled)

Formula review

Standard error: SE = ( s 1 ) 2 n 1 + ( s 2 ) 2 n 2

Test statistic ( t -score): t = ( x ¯ 1 x ¯ 2 ) ( μ 1 μ 2 ) ( s 1 ) 2 n 1 + ( s 2 ) 2 n 2

Degrees of freedom:
d f =   ( ( s 1 ) 2 n 1 +   ( s 2 ) 2 n 2 ) 2 ( 1 n 1 1 ) ( ( s 1 ) 2 n 1 ) 2 + ( 1 n 2 1 ) ( ( s 2 ) 2 n 2 ) 2

where:

s 1 and s 2 are the sample standard deviations, and n 1 and n 2 are the sample sizes.

x ¯ 1 and x ¯ 2 are the sample means.

Cohen’s d is the measure of effect size:

d = x ¯ 1 x ¯ 2 s p o o l e d
where s p o o l e d = ( n 1 1 ) s 1 2 + ( n 2 1 ) s 2 2 n 1 + n 2 2

Use the following information to answer the next 15 exercises: Indicate if the hypothesis test is for

  1. independent group means, population standard deviations, and/or variances known
  2. independent group means, population standard deviations, and/or variances unknown
  3. matched or paired samples
  4. single mean
  5. two proportions
  6. single proportion

It is believed that 70% of males pass their drivers test in the first attempt, while 65% of females pass the test in the first attempt. Of interest is whether the proportions are in fact equal.

two proportions

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A new laundry detergent is tested on consumers. Of interest is the proportion of consumers who prefer the new brand over the leading competitor. A study is done to test this.

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A new windshield treatment claims to repel water more effectively. Ten windshields are tested by simulating rain without the new treatment. The same windshields are then treated, and the experiment is run again. A hypothesis test is conducted.

matched or paired samples

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The known standard deviation in salary for all mid-level professionals in the financial industry is $11,000. Company A and Company B are in the financial industry. Suppose samples are taken of mid-level professionals from Company A and from Company B. The sample mean salary for mid-level professionals in Company A is $80,000. The sample mean salary for mid-level professionals in Company B is $96,000. Company A and Company B management want to know if their mid-level professionals are paid differently, on average.

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The average worker in Germany gets eight weeks of paid vacation.

single mean

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According to a television commercial, 80% of dentists agree that Ultrafresh toothpaste is the best on the market.

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It is believed that the average grade on an English essay in a particular school system for females is higher than for males. A random sample of 31 females had a mean score of 82 with a standard deviation of three, and a random sample of 25 males had a mean score of 76 with a standard deviation of four.

independent group means, population standard deviations and/or variances unknown

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Questions & Answers

it is the relatively stable flow of income
Chidubem Reply
what is circular flow of income
Divine Reply
branches of macroeconomics
SHEDRACK Reply
what is Flexible exchang rate?
poudel Reply
is gdp a reliable measurement of wealth
Atega Reply
introduction to econometrics
Husseini Reply
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hey
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Jahara
Good morning
Jorge
hi
abubakar
hi
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hi
Mahesh
Hi
Tom
Why is unemployment rate never zero at full employment?
Priyanka Reply
bcoz of existence of frictional unemployment in our economy.
Umashankar
what is flexible exchang rate?
poudel
due to existence of the pple with disabilities
Abdulraufu
the demand of a good rises, causing the demand for another good to fall
Rushawn Reply
is it possible to leave every good at the same level
Joseph
I don't think so. because check it, if the demand for chicken increases, people will no longer consume fish like they used to causing a fall in the demand for fish
Anuolu
is not really possible to let the value of a goods to be same at the same time.....
Salome
Suppose the inflation rate is 6%, does it mean that all the goods you purchase will cost 6% more than previous year? Provide with reasoning.
Geetha Reply
Not necessarily. To measure the inflation rate economists normally use an averaged price index of a basket of certain goods. So if you purchase goods included in the basket, you will notice that you pay 6% more, otherwise not necessarily.
Waeth
discus major problems of macroeconomics
Alii Reply
what is the problem of macroeconomics
Yoal
Economic growth Stable prices and low unemployment
Ephraim
explain inflationcause and itis degre
Miresa Reply
what is inflation
Getu
increase in general price levels
WEETO
Good day How do I calculate this question: C= 100+5yd G= 2000 T= 2000 I(planned)=200. Suppose the actual output is 3000. What is the level of planned expenditures at this level of output?
Chisomo Reply
how to calculate actual output?
Chisomo
how to calculate the equilibrium income
Beshir
Criteria for determining money supply
Thapase Reply
who we can define macroeconomics in one line
Muhammad
Aggregate demand
Mohammed
C=k100 +9y and i=k50.calculate the equilibrium level of output
Mercy Reply
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money as unit of account means what?
Kalombe
A unit of account is something that can be used to value goods and services and make calculations
Jim
all of you please speak in English I can't understand you're language
Muhammad
I want to know how can we define macroeconomics in one line
Muhammad
it must be .9 or 0.9 no Mpc is greater than 1 Y=100+.9Y+50 Y-.9Y=150 0.1Y/0.1=150/0.1 Y=1500
Kalombe
Mercy is it clear?😋
Kalombe
hi can someone help me on this question If a negative shocks shifts the IS curve to the left, what type of policy do you suggest so as to stabilize the level of output? discuss your answer using appropriate graph.
Galge Reply
if interest rate is increased this will will reduce the level of income shifting the curve to the left ◀️
Kalombe
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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