Research indicates that many Americans do not save enough for retirement, on average. A group of economists at the Federal Reserve Bank of St. Louis are interested in conducting a study to examine whether Americans between the ages of 55 and 65 have saved too little. The analysts obtain a random sample of Americans in this age group and proceed to test if there is evidence of insufficient savings from these data. The variable considered is the total amount of savings for each individual, reported in thousands of US dollars (i.e. if value 3 appears in the data set, it stands for $3,000.)

Required:
Assume that financial specialists suggest that the minimum level of retirement savings should be 1.5 million US dollars. Use the JMP output to report the value of the test statistic used to gather evidence against the null hypothesis.

Answers

Answer 1

This question is incomplete, the complete question is;

Research indicates that many Americans do not save enough for retirement, on average. A group of economists at the Federal Reserve Bank of St. Louis are interested in conducting a study to examine whether Americans between the ages of 55 and 65 have saved too little. The analysts obtain a random sample of Americans in this age group and proceed to test if there is evidence of insufficient savings from these data. The variable considered is the total amount of savings for each individual, reported in thousands of US dollars (i.e. if value 3 appears in the data set, it stands for $3,000.)

Required:

Assume that financial specialists suggest that the minimum level of retirement savings should be 1.5 million US dollars. Use the JMP output to report the value of the test statistic used to gather evidence against the null hypothesis. Report your answer as a number ( no symbols ) and round up to two decimal places.

Test mean

Hypothesized value : 1500

Actual Estimate        : 1613.07

DF                             : 251

Std Dev                    : 782.626

t Test

prob > |t|  0.0226*

Answer:

the value of the test statistic used to gather evidence against the null hypothesis is 2.29

Step-by-step explanation:

Given the data in the question,

we determine Test statistics of using the formula

t = (x" - μ) / (s/√n)

where;

μ is the theoretical mean ( 1500 )

x" is the observed mean ( 1613.07)

s is the standard deviation ( 782.626 )

n is the sample size ( DF = n - 1, n = DF + 1 , n = 251 + 1 = 252 )

so we substitute

t = (1613.07 - 1500 ) / (782.626 / √252)

t = 113.07 / 49.3008

t = 2.29

Therefore, the value of the test statistic used to gather evidence against the null hypothesis is 2.29


Related Questions

Given the following data, find the weight that represents the 28 percentile​

Answers

Answer:

so I just tried to find the mean (average) and it was: 6.3

Arnold's entire workout consisted of 10 minutes of warm up exercise, 25 minutes of lifting weights, and 15 minutes on the treadmill. What was the ratio of the number of minutes he lifted weights to the total number of minutes of his entire workout?

Answers

Add all the times together:

10 + 25 + 15 = 50 minutes total.

For the ratio divide the time for weights by total time:

25/50 which reduces to 1/2

The ratio is 1/2

Answer:

15:50 = 3:10

3:10 is the answer

After painting 3/8 of a fence he finds that he has painted 15 feet

Answers

Answer: I'm assuming you want to know how much surface area his fence is, so 40

Step-by-step explanation: First we can divide 15 by 3 to get 5, and then multiply 5 by 8. This gives us 40, which is our answer.

Hope this helps :)

Answer:

ok whats the question tho is it the total length of the fence if it is its 40 pretty sure

Step-by-step explanation:

3/8 of the fence lets say x, equals 15 feet

divide 15 by 3/8 to find x which is 40

A box is being packed with cubes that measure 1 cubic foot. What is the volume of the box in cubic feet

Answers

Answer:

81 cubic foot

Step-by-step explanation:

It is given that the box is packed with cubes whose side is 1 foot. So the volume of one cube is 1 cubic foot.

Now from the figure, we can see that :

Number of cubes fitting the box across its length = 9 cubes

Number of cubes fitting the box across its width = 3 cubes

Number of cubes fitting the box across its height = 3 cubes

And each of these cubes measures 1 x 1 x 1 cubic foot

So the volume of the box can be found out by:

Volume = length x width x height

             = 9 x 3 x 3

             = 81 cubic foot

Therefore volume of the box is 81 cubic foot.

the area of a rectangle is 84x18y what is the length.

Answers

Answer:

Area =L×w

84×18y =L×w

by comparison

L =84 and w=18y



The function f(x) models the value of imported goods into the United States, and the function g(x) models the value of exported

goods from the United States, where x is the number of years since 1990.


Which statements are correct?

A) g(x) appears to be a linear function

B) f(x) appears to be an exponential function


C)Exports increase more quickly around the year 2041


D) Exports eventually exceed imports from the united States


E) A quantity increasing exponentially eventually exceeds a quantity

increasing linearly

Answers

Answer:

C, D, E

Step-by-step explanation:

I did the USATESTPREP

find he prodct
4(-2)

Answers

Answer:

-8

Step-by-step explanation:

four times two equals eight, positive times negative equals negative, so -8

Answer:

-8

Step-by-step explanation:

4(-2)=4×(-2)=-8 I Know The Answer Is Correct I Am Sure.

What statement best describes a trapezoid? *
1 point
a. All sides are equal and opposite sides are parallel
b. Exactly one pair of parallel lines
c. Has 2 sets of parallel lines and four 90 degree angles
d. Has 2 equal sides and 3 acute angles

Answers

Answer:b

Step-by-step explanation:

Answer:

B

Step-by-step explanation:

because it has two parallel side and and other are just lines but being quadrilateral its sum is 360

A school district is considering moving the start of the school day at Groveland High from 8:00 a.m. to 9:00 a.m. to allow students to get more sleep at night. They want to estimate how many more hours of sleep teens get if their school starts at 9:00 a.m. compared to teens whose schools start at 8:00 a.m. The district takes random samples of 50 of students from Groveland High and 39 students from Phillips High School, which starts at 9:00 a.m., and surveys them about their sleep habits. The sample mean number of hours of sleep per student at Groveland is 7.1 hours, and the standard deviation is 1.7 hours. At Phillips, the sample mean is 8.3 hours of sleep, with a standard deviation of 1.9 hours. What is the 90% confidence interval for the difference in mean hours of sleep for students at the two high schools

Answers

Answer:

The answer is "[tex]\bold{(7.1-8.3) \pm 1.665 \sqrt{\frac{(1.7)^2}{50}+\frac{(1.9)^2}{39}} }\\\\[/tex]"

Step-by-step explanation:

Given values:

[tex]\bar{x_1}=7.1\\\\\bar{x_2}=8.3\\\\s_1=1.7\\\\s_2=1.9\\\\n_1=50\\\\n_2=39[/tex]

Using formula:

[tex]\to (\bar{x_1} -\bar{x_2}) \pm t \sqrt{\frac{(s_1)^2}{n_1}+\frac{(s_1)^2}{n_2}} \\\\[/tex]

Put the values in the above formula:

[tex]\to (7.1-8.3) \pm 1.665 \sqrt{\frac{(1.7)^2}{50}+\frac{(1.9)^2}{39}} \\\\[/tex]

Simplify. 6 to the power of 2+3 to the power of 2.


Thanks!

Answers

Answer:

45

Step-by-step explanation:

6 to the power of 2 + 3 to the power of 2

6² + 3²

(6 × 6) + (3 × 3)

36 + 9

45

Solve the following percentage problem 85%of 40

Answers

Answer:34

85% of 40 = 34

Step-by-step explanation:85 percent of 40? = 34.

Answer:

34

Step-by-step explanation:

Elvin has three sails of different sizes for his model ships. Which of the sails are congruent, and which are similar?
45°
15 in.
3x in.
9 in.
- 10x)
5 in 4593 in.
Fly - 10x)"
EK IF
z in.
255
55°
BK
A 80
R
OR
4 in.
4 in.
Sail 1
Sail 11
Sail III

Answers

Similar means angles are the same  

Congruent means angles and sides are the same.

Sail 1 and sail 2 have the same angles but the sides are not the same.

So sail 1 and sail 2 are similar.

An aircraft seam requires 29 rivets. The seam will have to be reworked if any of these rivets is defective. Suppose rivets are defective independently of one another, each with the same probability. (Round your answers to four decimal places.) (a) If 23% of all seams need reworking, what is the probability that a rivet is defective

Answers

Answer:

0.9995 = 99.95% probability that a rivet is defective

Step-by-step explanation:

For each rivet, there is only two possible outcomes. Either they are defective, or they are not. Rivets are defective independently of one another, each with the same probability, which means that the binomial probability distribution is used to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]

In which [tex]C_{n,x}[/tex] is the number of different combinations of x objects from a set of n elements, given by the following formula.

[tex]C_{n,x} = \frac{n!}{x!(n-x)!}[/tex]

And p is the probability of X happening.

An aircraft seam requires 29 rivets.

This means that [tex]n = 29[/tex]

23% of all seams need reworking

This means that [tex]p = 0.23[/tex]

What is the probability that a rivet is defective?

This is:

[tex]P(X \geq 1) = 1 - P(X = 0)[/tex]

In which

[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]

[tex]P(X = 0) = C_{29,0}.(0.23)^{0}.(0.77)^{29} = 0.0005[/tex]

Then

[tex]P(X \geq 1) = 1 - P(X = 0) = 1 - 0.0005 = 0.9995[/tex]

0.9995 = 99.95% probability that a rivet is defective

2.45 divided by 0.17 =
Its not 14.41176470588235

Answers

Answer:

0.06938775

Step-by-step explanation:

This is the correct answer.

Try Again
The price of an item has been reduced by 70%. The original price was $49.
Use the ALEKS calculator to find the price of the item now.
s

Answers

Answer:

$34.30

Step-by-step explanation:

Use the equation:

F=P(r)

F=final price

P=principal (starting) amount

r=rate, normally a percent and has to be converted to a decimal

**Since this problem asks us to go down, there is no 1+r. That's when it gives us the final price and asks us to find the original.

Plug in the values: F = 49(.7)

F=$34.30 (don't forget the $ sign)

boht agyi yaade

hmm

:)​

Answers

i don’t know what it says but hey! :)

What is 125% of 144?

Answers

Answer:

180

hope this helps :)

144 x 125/100 = 180
................

In a different game, the probability of correctly guessing which of 5 boxes contains a tennis ball is 1/5. About how many winners would be expected if 60 contestants play the game?

Answers

The answer would be 12

60/5 = 12

Answer:

12

Step-by-step explanation:

PLEASE HELP!!!!!!!!!!!!!!!!!!!!!1111 I REALLY NEED HELP I A, BEGGIN YOU GUYS!!!!!!!!!!!!!!!!!!!!!!!!!!! ILL GIVE BRAINLIEST AND EXTRA POINTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Answers

Answer:

Step-by-step explanation:

4y - 2(5 - y + 4) = 4y - 2(9 - y)

                         = 4y + 9*(-2) - y *(-2)

                         = 4y  - 18 + 2y      {Combine like terms 4y and 2y}

                         = 6y - 18

6y - 18 = 6*y - 6*3

           = 6(y - 3)

6y- 18 =  2 *3y - 2*9

          = 2(3y -9)

2(3y - 9) and 6(y- 3 ) are equivalent to 4y - 2(5- y +4)

Others are not equivalent

Bob has $2,500 in a savings account that earns 3 % annually. How much will he earn in interest in 1 year?

Use the formula = , where is the interest earned, is the principal (starting amount), is the interest rate expressed as a decimal, and is the time in years.

Answers

He will earn $75 in interest in one year

Answer:

the answer is 2575 I believe

Step-by-step explanation:

(2500x3x1/100)

(2500+75)

A wheel with radius 1 foot makes 1 revolution in 4 seconds. What is the linear velocity, in feet per second, of a point on the edge of the wheel? 4π 8π

Answers

Answer:

[tex]v=\dfrac{\pi}{2}\ ft/s[/tex]

Step-by-step explanation:

Given that,

A wheel with radius 1 foot makes 1 revolution in 4 seconds

We need to find the linera velocity of a point on the edge of the wheel. We know that, the linear velcity is given by :

[tex]v=r\omega[/tex]

Where

[tex]\omega[/tex] is angular velcocity,[tex]\omega=2\pi\ rad[/tex]

[tex]\omega=\dfrac{1}{4}\times 2\pi\\\\=0.5\pi\ rad/s[/tex]

So

[tex]v=1\times 0.5\pi\\\\v=\dfrac{\pi}{2}\ ft/s[/tex]

So, the linear velocity of the wheel is equal to [tex]\dfrac{\pi}{2}\ ft/s[/tex].

Answer:

pi/2

B

Step-by-step explanation:

Got it right on EG

Add 8/9+4/9 and Simplify the answer and write as a mixed number.

Answers

Answer:

1 1/3

Step-by-step explanation:

Answer:

12/9= 1 and 1/3

Step-by-step explanation:

What is the volume of the figure?

Answers

Answer:

12.57

Step-by-step explanation:

same as last time you know

I need help on number 26

Answers

Answer:

The number of required shelves is 5

You have to find the HCF of 45, 105, and 75.

dolls= 9
footballs=21
small cars=15

Logan purchased 20 stamps at the post office for $8.40. What is the cost of one stamp?

Answers

Answer:

.42

Step-by-step explanation:

Step-by-step explanation:

Divide 8.40 by 20, use a calculator. Make sure to put $ in your answer.

Find the measurement indicated. Round to the nearest tenth.​

Answers

9514 1404 393

Answer:

22.015.030.0°137.0°

Step-by-step explanation:

These are all Law of Cosine problems. A generic expression for the length of side 'c' opposite angle C, which is defined by sides 'a' and 'b' is ...

  c² = a² +b² -2ab·cos(C)

The square root of this gives the side length:

  c = √(a² +b² -2ab·cos(C))

Rearranging the equation, we can obtain an expression for the angle C.

  C = arccos((a² +b² -c²)/(2ab))

These two formulas are used to solve the offered problems.

__

1) AC = √(13² +14² -2·13·14·cos(109°)) ≈ √483.506

  AC ≈ 22.0

__

2) BC = √(7² +10² -2·7·10·cos(123°)) ≈ √225.249

  BC ≈ 15.0

__

3) ∠B = arccos((24² +28² -14²)/(2·24·28)) = arccos(1164/1344)

  ∠B ≈ 30.0°

__

4) ∠B = arccos((6² +9² -14²)/(2·6·9)) = arccos(-79/108)

  ∠B ≈ 137.0°

Which ordered pair is a solution to the system

Answers

Answer:

I think it might be this one(-2,0)

i believe the answer is either one or third option. good luck.

If 20% of a number is 12, then what is 30% of the same number

Answers

Answer:

18

Step-by-step explanation:

0.2x = 12

Same as: 1/5x = 12

Multiply both sides by 5

x = 60

0.3 * 60 = 18

Use GCF and the distributive property to write equivalent
expressions.
A) 6x + 9y
B)3c +11c

Answers

Answer:

Step-by-step explanation:

Greatest common factor of 6x and 9y is 3.

6x + 9y = 3(2x + 3y)

:::::

Greatest common factor of 3c and 11c is c.

3c + 11c = (3+11)c

-5x+5y=10
3x-3y= -10

Answers

Answer:

ummmm math?

Step-by-step explanation:

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