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Business and Economics Statistic A - Essay Example

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ECMT1010 BUSINESS AND ECONOMIC STATISTICS A ASSIGNMENT Semester 1, 2011 This assignment is worth 10% of your total mark. It must be handed in by 4:30pm on Friday, 3 June in the marked drop-off boxes in the Merewether building (Level 2, reception area). Late assignments will not be accepted and will result in a zero mark…
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Business and Economics Statistic A
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Download file to see previous pages You are primarily interested in quantifying what factors could affect the household electricity consumption. The environmental group provided a data set that contained the information of 50 randomly selected households in Western Sydney. The data are recorded in an EXCEL file that is presented below. Q1a(8marks)  The leader of the environmental group suspects that homes (referred to as population 1) consume more electricity than units (referred to as population 2). Perform a hypothesis test to validate such suspicion. You must clearly state your null and alternative hypothesis, your conclusions, and the related output that lead to your conclusions. Use ?=0.05.  Q1a. (Answer) The homes in population 1 are thought to be using more electricity than the units in population 2. This thought of the leader of the environmental group is taken as an alternate hypothesis. Thus, recording the weekly values of electricity consumption it can be said that, Alternate hypothesis: Ha = HOUSES CONSUME MORE ELECTRICITY THAN UNITS. Null hypothesis: H0 = HOUSES AND UNITS BOTH CONSUME EQUAL AMOUNTS OF ELECTRICITY. It can also be said that, H0 : µ1 = µ2 Ha : µ1 > µ2 Where, H0 – Null Hypothesis. Ha – Alternate Hypothesis. µ1 – Mean Of Houses’ Electricity Consumption Value. µ2 – Mean Of Units’ Electricity Consumption Value. It is given that, ? = 0.05. ...
or two samples with unequal variances Consumption)   Population 1 Population 2 Mean 153.72 126.36 Variance 1431.46 1864.823333 Observations 25 25 Hypothesized Mean Difference 0 Df 47 t Stat 2.382724498 P(T ...Download file to see next pagesRead More
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