Z-score Statistics Mathematics & Economics Math Problem (Math Problem Sample)

Z-score statistics
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Question1. Cheap mart retailer
Let µ1 be the average bill for cheap mart and µ2 be for other retailer.
Claim: the average bill for identical item will not be less at any other retailer except the cheap mart.( µ2 > µ1)
* Hypothesis
H0: µ2≤ µ1 vs: The average bill for identical item will be less at any other retailer except the cheap mart.
H1: µ2> µ1. The average bill for identical item will not be less at any other retailer except the cheap mart
* P-value
The p-value for our one tail is 0.487771069
* Decision at 0.05 level of significance
Since our z critical one tail(1.6449) is greater than z calculated(0.0307) we fail to reject null hypothesis.
Thus the decision is that, the average bill for identical item will be less at any other retailer except the cheap mart.
* Decision at 0.01 level of significance
Since our z critical one tail(2.3263) is greater than z calculated(0.0307) we fail to reject null hypothesis.
Thus the decision is that, the average bill for identical item will be less at any other retailer except the cheap mart.
Question2: assistantship
Let µ1 be student assistant for S field of study and µ2 be student assistant for A field of study
Belief: student assistantship is same for all major .( µ2 = µ1)
Level of significance 5%
* Hypothesis
H0: µ2 = µ1, the student assistant is same for S and A fields of study vs
H1: µ2 ≠µ1,the student assistant is not same for S and A fields of study
* P-value
lefttopp-value= 0.00