Suppose n 36 observations are taken from a normal distribution where 8 0 for the purpose of testing H 0 60 versus H 1 60 at the 0 07 level of significance The lead investigator skipped statistics class the day decision rules were being discussed and intend to reject H 0 if y falls in the region (60...

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Suppose n = 36 observations are taken from a normal distribution where = 8.0 for the

Question:

Suppose n = 36 observations are taken from a normal distribution where σ = 8.0 for the purpose of testing H₀: μ = 60 versus H₁: μ ≠ 60 at the α = 0.07 level of significance. The lead investigator skipped statistics class the day decision rules were being discussed and intend to reject H₀ if y falls in the region (60 − y^∗, 60 + y^∗).

(a) Find y̅^∗.

(b) What is the power of the test when μ = 62?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...