Question

It is known from past studies that the monthly household expenditure on the food items in a locality is Rs 2.700 with a standard deviation of Rs 160 an economist took a random sample of 25 houscholds from the locality and found their monthly household expenditure on food items to he Rs.2790. At 1% level of significance, can we conclude that the average household expenditure on the food items is greater than Rs.2700​

Answer 1

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Answer 2

Answer:

The for a one-tailed test with 24 degrees of freedom (25-1) at a 1% level of significance is 2.492. Since the calculated t-value of 3.125 is greater than the critical t-value of 2.492, we can reject the null hypothesis and conclude that the average household expenditure on food items is greater than Rs. 2700 at a 1% level of significance.

Step-by-step explanation:

To determine whether we can conclude that the average household expenditure on food items is greater than Rs. 2700, we can use a one-sample t-test at a 1% level of significance. The null hypothesis would be that the population mean is equal to Rs. 2700, while the alternative hypothesis would be that the population mean is greater than Rs. 2700.

We can calculate the t-value using the formula:

t = (x̄ - μ) / (s / √n)

where x̄ is the sample mean, μ is the population mean, s is the sample standard deviation, and n is the sample size.

Using the given values, we get:

t = (2790 - 2700) / (160 / √25) = 3.125

The critical t-value for a one-tailed test with 24 degrees of freedom (25-1) at a 1% level of significance is 2.492. Since the calculated t-value of 3.125 is greater than the critical t-value of 2.492, we can reject the null hypothesis and conclude that the average household expenditure on food items is greater than Rs. 2700 at a 1% level of significance.

To know more about one-tailed test, click on the link below:

https://brainly.in/question/22535788

To know more about null hypothesis, click on the link below:

https://brainly.in/question/3231387

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