Using the Following Data, Conduct a One-Tailed T-Test in the Upper

question 26

Short Answer

Using the following data, conduct a one-tailed t-test in the upper tail.Use a known population mean of 49 and α =
.05.
51 48 52 50 48 52 50 48 52 54
50 52 54 47 49 53 47 46 50 51 $\begin{array}{l}\bar{X}=\frac{1004}{20}=50.2 \\\\s_{X}^{2}=\frac{50506-\frac{(1004)^{2}}{20}}{20-1}=\frac{105.2}{19}=5.537 \\\\s_{X}=\sqrt{5.537}=2.35 \\\\s_{\bar{X}}=\frac{2.35}{\sqrt{20}}=0.525 \\\\t_{\text {obt }}=\frac{50.2-49}{0.525}=+2.29 \\\\t_{\text {crit }}=+1.729\end{array}$

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The total monetary value expected, called for, or delivered in payment for an object.

Laspeyres Price Index

A price index used to measure the change in the cost of purchasing a fixed basket of goods and services over time, based on the quantities purchased in the base period.

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Prices

Monetary values assigned to goods and services, determining what amount of money is needed to purchase them.