Discussion:
Q1: A recent article in The Wall Street Journal reported that the 30-year mortgage rate is now less than 6 percent. A sample of eight small banks in the Midwest revealed the following 30-year rates (in percent):
4.8 5.3 6.5 4.8 6.1 5.8 6.2 5.6
At the .01 signigicance level, can we conclude that the 30-year mortgagte rate for small banks is less than 6 percent?
The significance level is 0.01.
Estimate the p-value.
Sample statistics and assumed standard deviation:
Sample mean
The hypothesized mean =
Standard deviation =
Sample size
The observed t-value is
The null and alternative hypotheses:
What the experimenter is trying to show or would like to discover goes in the alternative hypothesis.
The test statistic:
Q2: A recent study focused on the number of times men and women who live alone buy take-out dinner in a month. The information is summarized below.
Statistic Men Women
Sample mean 24.51 22.69
Population standard deviation 4.48 3.86
Sample size 35.00 40.00
At the .01 significance level, is there a difference in the mean number of times men and women order take-out dinners in a month?
The significance level is 0.01.
What is the p-value?
Sample statistics and assumed standard deviation:
Sample mean
The hypothesized mean
Standard deviation
Sample size
The observed t-value is
The null and alternative hypotheses:
What the experimenter is trying to show or would like to discover goes in the alternative hypothesis.
The test statistic:
The rejection region
Q3: Grand Strand Family Medical Center is specifically set up to treat minor medical emergencies for visitors to the Myrtle Beach area. There are two facilities, one in the Little River Area and the other in Murrells Inlet. The Quality Assurance Department wishes to compare the mean waiting time for patients at the two locations. Samples of the waiting times, reported in minutes, follow:
Location Waiting Time
Little River 31.73 28.77 29.53 22.08 29.47 18.60 32.94 25.18 29.82 26.49
Murrells Inlet 22.93 23.92 26.92 27.20 26.44 25.62 30.61 29.44 23.09 23.10 26.69 22.31
Assume the population standard deviations are not the same.
At the .05 significance level, is there a difference in the mean waiting time?
Sample statistics and assumed standard deviation:
Sample mean
The hypothesized mean
Standard deviation
Sample size
The observed t-value is
The null and alternative hypotheses:
What the experimenter is trying to show or would like to discover goes in the alternative hypothesis.
The test statistic:
The rejection region