ECON 1203 Project (1 Viewer)

[Malc]

Just wondering if anyone can tell me whether I have answered a question correctly, cause I think I may be wrong?

The question is to determine whether more than 40% stay for 7 nights. So I used hypothesis testing:


H₀ is greater than or equal to 0.4 and H₁ is less than 0.4

a = 0.05, sample mean = 4.785, n=200 and SD = 2.38

Therefore:

0.4 - 1.645 x (2.38 / square root of 200) = 0.123

So since sample mean is larger than rejection region of 0.123 we don't reject null hypothesis meaning more than 40% of customers stayed 7 nights?


Thanks for any help

 

[Malc]

The formula you're using is meant to be for the second hypothesis testing when you know the mean (255), not the first one which is asking for sample proportion of success, which is z = (p-hat - p)/sqrt(p(1-p)/n)

Thanks for the reply.

I don't know whether you are also doing the assignment or not, but for the first part of the sample proportion (which you've written as (p-hat - p), would it be:


no. of bookings for 7 nights / no. of bookings (200)?


Thanks again, I really appreciate the help.

 

[jfeldman]

@asi9 i also got 3.175, but this would be outside the rejection region... does this mean that less or more than 40% of guest stay the full week?

 

[kenhay20a]

i got 0.19 for my answer = =

@asi9 i also tried ur formula [z = (p-hat - p)/sqrt(p(1-p)/n)] and got 3.175.......now im so confuse and dunno which one is correct....

 

[Ajaxx]

Just wondering what everyone else did for the 2nd KPI cause Im not 100% sure im using the right formula?

Ive got H0 > 255, H1 </= 255 a = 0.05, mean is $240.68 per booking per day but then im not sure how to/what I should get the SD from?

Also are people calculating the spending per person per day or per group per day?

Thanks!