Hypothesis testing for two means and two proportions
Class Time:
Names:
Student learning outcomes
The student will select the appropriate distributions to use in each case.
The student will conduct hypothesis tests and interpret the results.
Supplies:
the business section from two consecutive days’ newspapers
three small packages of M&Ms®
five small packages of Reese's Pieces®
Increasing stocks survey
Look at yesterday’s newspaper business section. Conduct a hypothesis test to determine if
the proportion of New York Stock Exchange (NYSE) stocks that increased is greater than theproportion of NASDAQ stocks that increased. As randomly as possible, choose 40 NYSE
stocks, and 32 NASDAQ stocks and complete the following statements.
H
0 : _________
H
a : _________
In words, define the random variable.
The distribution to use for the test is _____________.
Calculate the test statistic using your data.
Draw a graph and label it appropriately. Shade the actual level of significance.
Graph:
Calculate the
p -value.
Do you reject or not reject the null hypothesis? Why?
Write a clear conclusion using a complete sentence.
Decreasing stocks survey
Randomly pick eight stocks from the newspaper. Using two consecutive days’ business sections, test whether the stocks went down, on average, for the second day.
H
0 : ________
H
a : ________
In words, define the random variable.
The distribution to use for the test is _____________.
Calculate the test statistic using your data.
Draw a graph and label it appropriately. Shade the actual level of significance.
Graph:
Calculate the
p -value:
Do you reject or not reject the null hypothesis? Why?
Write a clear conclusion using a complete sentence.
Candy survey
Buy three small packages of M&Ms and five small packages of Reese's Pieces (same net weight as the M&Ms). Test whether or not the mean number of candy pieces per package is the same for the two brands.
H
0 : ________
H
a : ________
In words, define the random variable.
What distribution should be used for this test?
Calculate the test statistic using your data.
Draw a graph and label it appropriately. Shade the actual level of significance.
Graph:
Calculate the
p -value.
Do you reject or not reject the null hypothesis? Why?
Write a clear conclusion using a complete sentence.
Shoe survey
Test whether women have, on average, more pairs of shoes than men. Include all forms of sneakers, shoes, sandals, and boots. Use your class as the sample.
H
0 : ________
H
a : ________
In words, define the random variable.
The distribution to use for the test is ________________.
Calculate the test statistic using your data.
Draw a graph and label it appropriately. Shade the actual level of significance.
Graph:
Calculate the
p -value.
Do you reject or not reject the null hypothesis? Why?
Write a clear conclusion using a complete sentence.
Questions & Answers
differentiate between demand and supply
giving examples
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product