Test the Claim Thathat $\mu _ { 1 } \neq \mu _ { 2 }$

question 35

Essay

Test the claim thathat $\mu _ { 1 } \neq \mu _ { 2 }$ Assume the two samples are random and independent. Use $\alpha = 0.02$ Population statistics: $\sigma _ { 1 } = 0.76 \text { and } \sigma _ { 2 } = 0.51$ Sample statistics: $\overline { \mathrm { x } } 1 = 5.3 , \mathrm { n } _ { 1 } = 51 \text { and } \overline { \mathrm { x } } 2 = 5.7 , \mathrm { n } _ { 2 } = 38$

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Definitions:

Real Output

The total goods and services produced by an economy, measured in constant prices to adjust for inflation, synonymous with real GDP.

Incentives

Something that motivates or encourages an individual or group to perform or act in a certain way.

Savings

The portion of income not spent on current expenditures and set aside for future use.

Investment

The action of dedicating resources such as capital, time, or effort to a particular venture with the expectation of achieving a beneficial return.