Purchase Solution

Sample Size Statistic

Not what you're looking for?

Ask Custom Question

HI,

I am having difficulty understanding statistics. I had just completed a paper in which I made a statistical comparison using gas prices in 1975 and 2006. The gas prices were in today's dollars. I need to do a small sample size statistic with the same info and I'm lost. Could you walk me through this with the 5 step hypothesis and a description of the results?

Thank you

Response:
This is the chart I used

Historical Gas Prices
(Adjusted for inflation)
Year Price Per Gallon
1950 $1.91
1955 $1.85
1960 $1.79
1965 $1.68
1970 $1.59
1975 $1.80
1980 $2.59

1985 $1.90
1990 $1.51
1995 $1.28
2001 $1.66
2002 $1.31
2003 $1.52
2004 $1.79
2005 $2.28
2006 (so far) $2.68

If you need more info please advise.
Thank You

Purchase this Solution
Solution Summary

This Solution contains calculations to aid you in understanding the Solution to this question.

Solution Preview

Please see the attached file.

Testing the coefficient of correlation: When there is no linear relationship between two variables,  = 0.

Hypotheses: H0:  = 0 vs. HA:  ¹ 0
Test statistic:

The statistic is Student t-distributed with ...

Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

View More Free Quizzes
Related BrainMass Solutions

  • T - Statistic vs. Z-Statistic

    When does the t-statistic approximate the z-statistic? Answer The t-statistic approximates the z-statistic when the sample size is fairly large (n > 30).

  • Degree of Freedom Information

    The degrees of freedom of this Chi-square statistic is Consider the F statistic used to test , where and are the variances of two populations, is the sample variance of a sample of size and is the sample variance of a sample of size taken

  • t-statistic as opposed to a z-statistic for small test samples

    Basically, when a sample was taken, the sample size n minus 1 is the degree of freedom. When testing two populations with small sample sizes, do both sample sizes have to be the same size?

  • Hypothesis test: sample of 100

    This solution provides a step by step method for computing test statistic for one sample t test is given in the answer. The sample size and the population standard deviation and p-value is calculated for various sample means.

  • Find critical value and test statistics for some t test questions

    Find the critical value and rejection region for the type of t-test with level of significance α and sample size n.

  • Samples studied when we want to know about populations

    Usually, a sample of size 30 or more is considered a large enough sample to assume normal distribution and use the z-statistic.

  • Sample Size, Sample Error, and Sum of Squares

    585148 Sample Size, Sample Error, and Sum of Squares On average, what value is expected for the t statistic when the null hypothesis is true? *1 *1.96 *0 (?)

  • Factors influencing the value of t-statistic

    191984 Several factors influence the value obtained for a t statistic. Some factors affect the numerator of the t statistic and others influence the size of estimated standard error in the denominator.

  • The solution to Test of hypothesis

    size=n= 12 Since sample size 12 is less than 30 and population standard deviation is 'Not Known' use t distribution Thus we use t distribution t at the 0.01 level of significance and 11 degrees of freedom (=n-1) and 2 tailed

  • Estimated Standard Errors: T Statistics and Z Scores

    In statistics, we use the t statistic instead of using a z-score under two conditions: 1. the sample size is too small, so we do not the know the distribution of sample. 2.

View More Related Solutions