Homework 4 – Due November 10, 2015

question.docx

Home >Mathematics homework help >Numerical analysis homework help >Homework 4 – Due November 10, 2015

Suppose that the average wekly wage for women in the US is around $740 (see BLS report) while the average weekly wage for men is around $900. Suppose that the respective sample sizes are 1000 each and the standard deviations are $300 and $450. To test for the equality of the wages for the two populations what is the test statistic? Answer to two decimal places. Hint: your number should be negative.

Suppose you have a product which you sell in two markets of comparable size and you want to test the hypothesis that the demand for the product is the same in the two markets. In practice you test that the quantity demanded is the same and find that for sample of 17 different time periods with different prices the average quantity demanded in the first market is 1765 and in the second market it is 1688. The standard deviation of the differences is 60.5. What is the standard error? Answer to two decimal places.

Suppose you have a product which you sell in two markets of comparable size and you want to test the hypothesis that the demand for the product is the same in the two markets. In practice you test that the quantity demanded is the same and find that for sample of 17 different time periods with different prices the average quantity demanded in the first market is 1765 and in the second market it is 1688. The standard deviation of the differences is 60.5. True or False: we reject the null hypothesis of equal means for quantity demanded at the .05 level of significance.

True or False