Need business and finance help to answer the question below

Get perfect grades by consistently using www.assignmentgeeks.org. Place your order and get a quality paper today. Take advantage of our current 20% discount by using the coupon code GET20


Order a Similar Paper Order a Different Paper

The significant decline of savings in the United States from the 1970s and 1980s to the 1990s and 2000s has been widely discussed by economists (money.cnn.com, June 30, 2010). According to the Bureau of Economic Analysis, the savings rate of American households, defined as a percentage of the disposable personal income, was 4.20% in 2009. The reported savings rate is not uniform across the country. A public policy institute conducts two of its own surveys to compute the savings rate in the Midwest. In the first survey, a sample of 160 households is taken and the average savings rate is found to be 4.48%. Another sample of 40 households finds an average savings rate of 4.60%. Assume that the population standard deviation is 1.4%.
In a report, use the above information to:
1.
Compute the probability of obtaining a sample mean that is at least as high as the one computed in each of the two surveys.
2.
Use these probabilities to decide which of the two samples is likely to be more representative of the United States as a whole.

"Is this question part of your assignment? We can help"

ORDER NOW
Writerbay.net

Need help with an assignment? We work for the best interests of our clients. We maintain professionalism and offer brilliant writing services in most of the fields ranging from nursing, philosophy, psychology, biology, finance, accounting, criminal justice, mathematics, computer science, among others. We offer CONFIDENTIAL, ORIGINAL (Turnitin & SafeAssign checks), and PRIVATE services using the latest (within 5 years) peer-reviewed articles. Kindly click on ORDER NOW to receive an A++ paper from our masters- and doctorate-prepared writers. Thank you in advance!

Get a 15% discount on your order using the following coupon code SAVE15


Order a Similar Paper Order a Different Paper