A. The average household income in the City of Santa Rosa (CA) is reported to...
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Finance
A. The average household income in the City of Santa Rosa (CA) is reported to be $75,000 per year, but the city finance manager believes that the average income is much higher due to the recent relocations of several high-tech firms to the city from the Silicon Valley. The city then commissioned a study using 2,000 residents and found that the average income is $85,000 with a s = $10,000. Let = 1%.
Ho: Mean = m $75,000
H1: Mean = m > $75,000
Whats the critical Z-value for this test?
A). 1.645
B). + 1.96
C). + 1.645
D). 1.96
E). + 2.32
B. The annual rate of the return for ACH Corporation common stock has been:
1998
1999
2000
2001
Return
14%
15%
-10%
14%
Whats the geometric mean of the rate of return for the common stock over the four years?
A). 8.62
B). 7.69
C). 10.22
D). 7.46
E). 6.64
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