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Hypothesis Testing Scenarios

   

Added on  2020-05-04

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BUSN1009 – Quantitative MethodsAssessment 4: Major AssignmentStudent id and name[Pick the date]
Hypothesis Testing Scenarios_1

Question 1 For 95% confidence Z value for 95% confidence = 1.96Error E = 100As per six-sigma estimate the standard deviation can be computed as shown below:6S=(2500−600)S=316.67Now, Sample¿≥(ZSE)2n≥(1.96∗316.67100)2≥38.52Therefore, it can be said that sample size 39 would be taken into account. For 90% confidence Z value for 90% confidence = 1.645Error E = 100As per six-sigma estimate the standard deviation can be computed as shown below:6S=(2500−600)S=316.67Now, 1
Hypothesis Testing Scenarios_2

Sample¿≥(ZSE)2n≥(1.645∗316.67100)2≥27.13Therefore, it can be said that sample size app. 28 would be taken into account. It can be seen that sample size has been reduced when the Chinese investors want to be 90%confident in place of 95% confidence. Question 2 For 95% confidence Z value for 95% confidence = 1.96Error E = $2Standard deviation S = $12.50Now, Sample¿≥(ZSE)2n≥(1.96∗12.502)2≥150.06Therefore, it can be said that sample size 151 would be taken into account. For 90% confidence 2
Hypothesis Testing Scenarios_3

Z value for 90% confidence = 1.645Error E = $2Standard deviation S = $12.50Now, Sample¿≥(ZSE)2n≥(1.645∗12.502)2≥105.70Therefore, it can be said that sample size 106 would be taken into account. Question 3 For 95% confidence Z value for 90% confidence = 1.96Error E = 5% Standard deviation S = 1 (assuming) Now, Sample¿≥(ZSE)2n≥(1.96∗10.05)2≥1536.64Therefore, it can be said that sample size 1537 would be taken into account. 3
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