Test Hypotheses About a Population Proportion
-It Has Been Estimated $1991 \mathrm { G }$

question 132

Short Answer

Test Hypotheses about a Population Proportion
-It has been estimated that the $1991 \mathrm { G }$ -car obtains a mean of 35 miles per gallon on the highway, and the company that manufactures the car claims that it exceeds this estimate in highway driving. To support its assertion, the company randomly selects $361991 \mathrm { G }$ -cars and records the mileage obtained for each car over a driving course similar to that used to obtain the estimate. The following data resulted: $\bar { x } = 36.5$ miles per gallon, $\mathrm { s } = 6$ miles per gallon. Calculate the value of $\beta$ if the true value of the mean is really 37 miles per gallon. Use $\alpha = 0.025$ .

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Definitions:

Government

An organization or system that governs and implements decisions in a community, country, or society through the establishment of rules and the management of public services.

Classical Quantity Theory

An economic theory suggesting that the amount of money in circulation directly impacts price levels and inflation rates.

Money

A medium of exchange that facilitates transactions, acting as a unit of account, a store of value, and sometimes, a standard of deferred payment.

Stock of Money

The total quantity of money available in the economy at a particular time, including cash and deposits.