TABLE 9-1
Microsoft Excel Was Used on a Set of Data

question 21

Short Answer

TABLE 9-1
Microsoft Excel was used on a set of data involving the number of parasites found on 46 Monarch butterflies captured in Pismo Beach State Park. A biologist wants to know if the mean number of parasites per butterfly is over 20. She will make her decision using a test with a level of significance of 0.10. The following information was extracted from the Microsoft Excel output for the sample of 46 Monarch butterflies:

$\begin{array}{llcc} \hline n=46 ; \text { Arithmetic Mean }=28.00 ; \text { Standard Deviation }=25.92 ; \text { Standard Error }=3.82 ; \\\text { Null Hypothesis:} H_{0}: \mu \leq 20.000 ; \alpha=0.10 ; d f=45 ; T \text { Test Statistic} = 2.09;\\\text { One-Tailed Test Upper Critical Value} =1.3006 ;\text { p-value} =0.021 ; \text { Decision = Reject.}\\\hline\end{array}$


-Referring to Table 9-1, the probability of committing a Type II error is _____ if the mean number of parasites per butterfly on Monarch butterflies in Pismo Beach State Park is 24 using a 0.05 level of significance and assuming that the population standard deviation is 25.92.

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Definitions:

Net Income

The amount of money that remains after all expenses, taxes, and costs have been subtracted from a company's total revenue.

Total Equity

The total net worth of a company, calculated as the difference between total assets and total liabilities.

Profit Margin

A financial metric that measures the amount of net income earned with each dollar of sales by calculating the percentage of profit generated from revenue.

Return On Assets

A ratio that measures a company's net income relative to its total assets. It indicates how efficiently a company is using its assets to generate profits.