The accounts of a corporation show that, on average, accounts payable are $125.32. An auditor checked a random sample of 16 of these accounts. The sample mean was $131.78 and the sample standard deviation was $25.41. Assume that the population distribution is normal. Test at the 5% significance level against a two-sided alternative the null hypothesis that the population mean is $125.32.
Answer to relevant QuestionsOn the basis of a random sample the null hypothesis H0: μ = μ0 is tested against the alternative H1: μ > μ0 and the null hypothesis is not rejected at the 5% significance level. a. Does this necessarily imply that μ0 is ...In contract negotiations a company claims that a new incentive scheme has resulted in average weekly earnings of at least $400 for all customer service workers. A union representative takes a random sample of 15 workers and ...Of a random sample of 199 auditors, 104 indicated some measure of agreement with this statement: Cash flow is an important indication of profitability. Test at the 10% significance level against a two-sided alternative the ...A pharmaceutical manufacturer is concerned that the impurity concentration in pills does not exceed 3%. It is known that from a particular production run, impurity concentrations follow a normal distribution with standard ...Plastic sheets produced by a machine are periodically monitored for possible fluctuations in thickness. If the true variance in thicknesses exceeds 2.25 square millimeters, there is cause for concern about product ...
Post your question