Moving to another question will save this response. Question 21 of 26 Question 2

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Moving to another question will save this response. Question 21 of 26 Question 21 0.04 points Save Answer The Census Bureau reports that households spend an average of 7% of their spending on housing. A homebuilders associations in Cleveland wonders if the national finding applies in their area. They interview a sample of 16 households in a community of 113 households (Population size N-113) to learn What percent of their spending goes on housing and find that the sample average spending on housing is 5324%. Take to be the mean percent of spending devoted to housing among all households in this community Assume that the standard dev ation for the population of households is 1.213% and a significance level = 1%. What is the observed value of the test statistic z for the hypothesis test to determine if the mean percent devoted to housing in this community is different from the national average reported by the Census Bureau? Moving to another question will save this response. Question 21 of 26

Explanation / Answer

21)

z=(x-)/(/n)

=(0.05324-0.07)/(0.01213/16)

=-0.01676/0.0030325

=-5.52679    (please round it off accordingly)

22)

expected value = x*p(x)

                             =957*0.12 + 696*0.13 + 353*0.25 + 207*0.02 + 95.65*0.18 +147*0.3

                             =359.027

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