Description
A town official claims that the average vehicle in their area sells for more than the 40th percentile of your data set. Using the data, you obtained in week 1, as well as the summary statistics you found for the original data set (excluding the supercar outlier), run a hypothesis test to determine if the claim can be supported. Make sure you state all the important values, so your fellow classmates can use them to run a hypothesis test as well. Use the descriptive statistics you found during Week 2 NOT the new SD you found during Week 4. Because again, we are using the original 10 sample data set NOT a new smaller sample size. Use alpha = .05 to test your claim.
(Note: You will want to use the function =PERCENTILE.INC in Excel to find the 40th percentile of your data set. Hopefully, this Excel function looks familiar to you from Week 2.)
First, determine if you are using a z or t-test and explain why. Then conduct a four-step hypothesis test including a sentence at the end justifying the support or lack of support for the claim and why you made that choice.
I encourage you to review the Week 6 Hypothesis Testing PDF at the bottom of the discussion forum. This will give you a step by step example on how to calculate and run a hypothesis test using Excel. I DO NOT recommend doing this by hand. Let Excel do the heavy lifting for you. You can also use this PDF in the Tests&Quizzes tab.
There were 5 additional PDFs that were created to help you with the Homework, Lessons, and Tests in the Tests&Quizzes tab. While they won’t be used to answer the questions in the discussion forum, they are just as useful and beneficial. I encourage you to review these ASAP! These PDFs are also located at the bottom of the forum.
Instructions: Your initial post should be at least 150 words. Make sure you include your data set in your initial post as well. You must also respond to at least 2 other students. Responses should be a minimum of 50 words and may include direct questions. In your first peer response post, look at the hypothesis test results of one of your classmates and explain what a type 1 error would mean in a practical sense. Looking at your classmate’s outcome, is a type 1 error likely or not? What specific values indicated this?
In your second peer response post, using your classmate’s values, run another hypothesis test using this scenario: A town official claims that the average vehicle in their area Does Not sell for the 80th percentile of your data set. Conduct a four-step hypothesis test including a sentence at the end justifying the support or lack of support for the claim and why you made that choice. Note: this test will be different than the initial post, starting with the hypothesis scenario. Use alpha = .05 to test your claim.
Sample Solution
During the frenzy of 1873 agribusiness costs fell quickly and made financial difficulties for once wealthy ranchers. Ranchers started to censure the administration for their money related battles they had been confronting. Since the United States cash approaches were made by Bankers and Industrialists, ranchers contended that they couldn’t have cared less for or know the hardships during this period for the lower common laborers. Autonomous political activity was too frail to even think about making a distinction, so they started to meet in gatherings and examine their complaints. These confederations were called Farmers Alliances and they were sporadically framed all through the North and South, anyway it was predominantly white men, Southern blacks shaped their own partnerships. Development of these various Farmers Alliances turned out to be so quick and well known that making a whole ideological group was built. The Populist party came to fruition from the monetary breakdown of agrarian items driving numerous ranchers to look for help through political activity. These financial issues started after the Civil War in the West and South from the change of ranches into sharecropping and harvest lien frameworks basically. Offer trimming sank millions into interminable neediness. (Foner 651) At first there were Farmers Alliances over the West and South sporadically, numerous Southern ranchers stayed aligned with the Democratic party in dread of parting the white vote and permitting the blacks into power. They didn’t get a lot of cultivated and just won little triumphs inside their networks until the pioneers of every one of these groups met up in 1891 to frame one aggregate ideological group, the Populist Party (or the People’s Party). Talking for the benefit of all average workers, they planned to pull in supporters from workers and change bunches that will be roused to help their reason for improving their financial condition. Populists contended that the explanation their battles started was from high cargo costs, over the top telephone organization rates, and the monetary strategies executed by the national government. (Educator Jackson, US Since 1877, 13/9/2018) Therefore, they upheld for guideline of railways, the national market, and government decisions. In particular, the free coinage of silver, taxes for income just, a graduated personal assessment, and direct appointment of legislators. It is critical to remember that populists were not against present day innovations, they just felt that there ought to be greater government obstruction and guideline. They accepted these things would fortify political and monetary vote based system over the United States. The populist stage, embraced in 1892 at the Omaha show, expressed the entirety of their objectives recently referenced with the expansion of an arrangement of minimal effort open financing to sell yields, and rights for worker’s organizations. They even supported ladies’ suffrage developments in four western states. “The stage set forth a not insignificant rundown of recommendations to reestablish majority rules system and financial chance”. (Foner 653) In 1892 the Populist Party named their first president, James B. Weaver. He conveyed just five Western states and got just 22 appointive school votes, yet they despite everything persevered. The Populists chose three governors and fifteen congress individuals. With the developing discontent in 1893 after the downturn started, expanded clash among workers and capital prompted the Populists bolster expanding, explicitly in rustic zones. “In 1896, Democrats and Populists joined to help William Jennings Bryan for administration.” (Foner 657) Bryan got the selection after he communicated ranchers’ complaints and objectives. Populists were particularly attracted to free silver to build the money available for use which would get more income for ranchers at expanding rural costs. Bryan didn’t win in any case, he lost to the Republican chosen one William McKinley. At last, the objective of Populists was to make a progressively bound together and democratized America that was all the more financially equivalent and controlled.>
During the frenzy of 1873 agribusiness costs fell quickly and made financial difficulties for once wealthy ranchers. Ranchers started to censure the administration for their money related battles they had been confronting. Since the United States cash approaches were made by Bankers and Industrialists, ranchers contended that they couldn’t have cared less for or know the hardships during this period for the lower common laborers. Autonomous political activity was too frail to even think about making a distinction, so they started to meet in gatherings and examine their complaints. These confederations were called Farmers Alliances and they were sporadically framed all through the North and South, anyway it was predominantly white men, Southern blacks shaped their own partnerships. Development of these various Farmers Alliances turned out to be so quick and well known that making a whole ideological group was built. The Populist party came to fruition from the monetary breakdown of agrarian items driving numerous ranchers to look for help through political activity. These financial issues started after the Civil War in the West and South from the change of ranches into sharecropping and harvest lien frameworks basically. Offer trimming sank millions into interminable neediness. (Foner 651) At first there were Farmers Alliances over the West and South sporadically, numerous Southern ranchers stayed aligned with the Democratic party in dread of parting the white vote and permitting the blacks into power. They didn’t get a lot of cultivated and just won little triumphs inside their networks until the pioneers of every one of these groups met up in 1891 to frame one aggregate ideological group, the Populist Party (or the People’s Party). Talking for the benefit of all average workers, they planned to pull in supporters from workers and change bunches that will be roused to help their reason for improving their financial condition. Populists contended that the explanation their battles started was from high cargo costs, over the top telephone organization rates, and the monetary strategies executed by the national government. (Educator Jackson, US Since 1877, 13/9/2018) Therefore, they upheld for guideline of railways, the national market, and government decisions. In particular, the free coinage of silver, taxes for income just, a graduated personal assessment, and direct appointment of legislators. It is critical to remember that populists were not against present day innovations, they just felt that there ought to be greater government obstruction and guideline. They accepted these things would fortify political and monetary vote based system over the United States. The populist stage, embraced in 1892 at the Omaha show, expressed the entirety of their objectives recently referenced with the expansion of an arrangement of minimal effort open financing to sell yields, and rights for worker’s organizations. They even supported ladies’ suffrage developments in four western states. “The stage set forth a not insignificant rundown of recommendations to reestablish majority rules system and financial chance”. (Foner 653) In 1892 the Populist Party named their first president, James B. Weaver. He conveyed just five Western states and got just 22 appointive school votes, yet they despite everything persevered. The Populists chose three governors and fifteen congress individuals. With the developing discontent in 1893 after the downturn started, expanded clash among workers and capital prompted the Populists bolster expanding, explicitly in rustic zones. “In 1896, Democrats and Populists joined to help William Jennings Bryan for administration.” (Foner 657) Bryan got the selection after he communicated ranchers’ complaints and objectives. Populists were particularly attracted to free silver to build the money available for use which would get more income for ranchers at expanding rural costs. Bryan didn’t win in any case, he lost to the Republican chosen one William McKinley. At last, the objective of Populists was to make a progressively bound together and democratized America that was all the more financially equivalent and controlled.>
