Mathematics, 05.07.2020 16:01 pr47723
According to the New York Stock Exchange, the mean portfolio value for U. S. senior citizens who are shareholders is $183,000. Assume portfolio values are normally distributed. Suppose a simple random sample of 51 senior citizen shareholders in a certain region of the United States is found to have a mean portfolio value of $198,000, with a standard deviation of $65,000.
a. From these sample results, and using the 0.05 level of significance comment on whether the mean portfolio value for all senior citizen shareholders in this region might not be the same as the mean value reported for their counterparts across the nation, by using the critical value method. Establish the null and alternative hypotheses.
b. What is your conclusion about the null hypothesis?
Answers: 2
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According to the New York Stock Exchange, the mean portfolio value for U. S. senior citizens who are...
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