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2. For a data set obtained from a random sample, n = 81 and x = 48.25. It is known
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?????????????? that ?? = 4.8.
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 What is the point estimate of ??? Round to two decimal places
 Make a 95% confidence interval for ??. What is the lower limit? Round to two decimal places.
 Make a 95% confidence interval for ??. What is the upper limit? Round to two decimal places.
 What is the margin of error of estimate for part b? Round to two decimal places.
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??
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3. Determine the sample size (nfor the estimate of ?? for the following.
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 E = 2.3,?? ?? = 15.40, confidence level = 99%. Round to the nearest whole number.
 E = 4.1,?? ?? = 23.45, confidence level = 95%. Round to the nearest whole number.
 E = 25.9,?? ?? = 122.25, confidence level = 90%. Round to the nearest whole number.
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4. True or False.
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a.The null hypothesis is a claim about a population parameter that is assumed to be false until it is declared false.
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A.?????? True
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B.?????? False
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b. An alternative hypothesis is a claim about a population parameter that will be true if the null hypothesis is false.
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A.?????? True
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B.?????? False
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c. The critical point(s) divide(s) is some of the area under a distribution curve into rejection and nonrejection regions.
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A.?????? True
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B.?????? False
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d. The significance level, denoted by ??, is the probability of making a Type II error, that is, the probability of rejecting the null hypothesis when it is actually true.
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A.?????? True
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B.?????? False
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e. The nonrejection region is the area to the right or left of the critical point where the null hypothesis is not rejected.
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A.?????? True
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B.?????? False
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5. You are given the null hypothesis. Select the correct alternative hypothesis.
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a)???????? H0:??=9.5hours, what is H1?
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A.?????? lefttailed test
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B.?????? righttailed test
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C.?????? twotail test
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b)?????????? H0:?? =$105, what is H1?
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A.?????? lefttailed test
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B.?????? righttailed test
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C.?????????? twotail test
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c)???????? H0:??=$47,000,what is H1?
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A.lefttailed test
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B.?? righttailed test
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C.?? twotail test
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d)?????? H0:??=10minutes, what is H1?
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A.?????? lefttailed test
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B.?????? righttailed test
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C.?????? twotail test
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e)???????? H0:??=30hours, what is H1?
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A.?????? lefttailed test
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B.???????? righttailed test
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C.???????? twotail test
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7. Consider H0: ?? = 45 versus H1: ?? < 45. A random sample of 25 observations produced a sample mean of 41.8. Using ?? = .025 and the population is known to be normally distributed with ?? = 6.
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 What is the value of z? Round to two decimal places.
 Would you reject the null hypothesis?
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 Reject Ho
 Do not reject Ho
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8. The following information is obtained from two independent samples selected from two normally distributed populations.
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n1 = 18?????????????????????? x1 = 7.82???????????????? ??1 = 2.35
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n2 =15 ?????????????????????? x2 =5.99?????????????????? ??2 =3.17
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A. What is the point estimate of ??1 ??? ??2? Round to two decimal places.
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B. Construct a 99% confidence interval for ??1 ??? ??2. Find the margin of error for this estimate.????
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???????? Round to two decimal places.
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9. The following information is obtained from two independent samples selected from two????
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?????????????????? populations.
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n1 =650???????????????????? x1 =1.05 ???????????????? ??1 =5.22
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n2 =675???????????????????? x2 =1.54???????????????? ??2 =6.80
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Test at a 5% significance level if ??1 is less than ??2.
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a)?? Identify the appropriate distribution to use.
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 t distribution
 normal distribution
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b)?? What is the conclusion about the hypothesis?
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A.?????? Reject Ho
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B.?????? Do not reject Ho
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10. Using data from the U.S. Census Bureau and other sources, www.nerdwallet.com estimated that considering only the households with credit card debts, the average credit card debt for U.S. house holds was $15,523 in 2014 and $15,242 in 2013. Suppose that these estimates were based on random samples of 600 households with credit card debts in 2014 and 700 households with credit card debts in 2013. Suppose that the sample standard deviations for these two samples were $3870 and $3764, respectively. Assume that the standard deviations for the two populations are unknown but equal.
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a)???????? Let ??1 and ??2 be the average credit card debts for all such households for the years 2014 and 2013, respectively. What is the point estimate of ??1 ??? ??2? Round to two decimal places. Do not include the dollar sign.
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b)?????? Construct a 98% confidence interval for ??1 ??? ??2. Round to two decimal places. Do not include the dollar sign.
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 What is the lower bound? Round to two decimal places.
 What is the upper bound? Round to two decimal places.
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c)???????? Using a 1% significance level, can you conclude that the average credit card debt for such households was higher in 2014 than in 2013? Use both the pvalue and the criticalvalue approaches to make this test.
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A.?????? Reject Ho
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B.?????? Do not reject Ho
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