SOLUTION: When 100 randomly selected car owners are surveyed, it is found that the mean length of time they plan to keep their car is 7.01 years, and the standard deviation is 3.74 years. Th
Algebra.Com
Question 325854: When 100 randomly selected car owners are surveyed, it is found that the mean length of time they plan to keep their car is 7.01 years, and the standard deviation is 3.74 years. The expected mean is 7.50 years. Calculate the p-value for the test statistic.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
When 100 randomly selected car owners are surveyed, it is found that the mean length of time they plan to keep their car is 7.01 years, and the standard deviation is 3.74 years. The expected mean is 7.50 years. Calculate the p-value for the test statistic.
---
t(7.01) = (7.01-7.5)/[3.74/Sqrt(100)] = -0.0490
----
Assuming a left tail test
the p-value is P(t < -0.0490 when df = 99) = 0.4805
==================
Cheers,
Stan H.
==========
RELATED QUESTIONS
When 400 college students are randomly selected and surveyed, it is found that 100 own a... (answered by stanbon)
when 274 college students are randomly selected and surveyed, it is found that 123 own a... (answered by stanbon)
When 347 college students are randomly selected and surveyed, it is found that 117 own a... (answered by Boreal)
It is claimed that automobiles are driven on average more than 20,000 kilometers per... (answered by Boreal)
a napa auto parts supplier wants information about how long car owners plan to keep... (answered by stanbon)
In a study of the time college freshmen use to study each week, it is found that the... (answered by ewatrrr)
A survey found that 30% of pet owners had their pets bathed professionally rather than... (answered by stanbon)
The wheeling tire company produces a batch of 5000 tires that includes exactly 200 that... (answered by stanbon)
Suppose that 60% of people who purchase sports cars are men. If 10 sports car independent (answered by Boreal)